Bill Seidle's Nissan is a Miami Nissan dealer and a new car and used car Miami Nissan dealership. -

At Bill Seidle's Nissan there are different options for getting a new car, and those are buying and leasing. Buying means that the care will be yours to own, operate, and sell when the time comes. Leasing means that the care is yours for a couple of years or so until you have to give it back to the dealership. Buying versus leasing is a common debate among future car owners. Take a look at some of the positives and negatives we have provided for each.

Buying

Positives

The car is yours. Leasing is similar to renting because you only have the car for a certain amount of time, but buying makes the vehicle yours. That means that you own it and when you are ready to sell it, the profits are all yours.

Used whatever mileage you want. You can go as far or as long as you want in your new car without having to worry about paying a penalty for driving a vehicle too much.

Get another car whenever you want. Getting a different car can happen at any time. Whether it is six months, six years, or more, you can get a new car whenever you would like, provided you sell your current one.

Negatives

Depreciation effects resell. After owning a car for a while, you will most likely want to sell it when you upgrade. Well, the value of your car goes down with every mile. That depreciation will affect how much you can sell your car for.

Maintenance costs are out of pocket eventually. Once the warranty on your vehicle expires, you will have to payfor your maintenance fees out of pocket.

Leasing

Positives

Trading in is easier. Every two or three years, you are able to easily upgrade to another vehicle. When a lease is up, you can choose to purchase the vehicle you have been driving or trade it in for another.

Payments are usually lower. Down payments usually aren't a percentage of the car. Instead, they are roughly $2,000; and sometimes, dealerships offer leases for $0 down. Payments per month are also lower because you aren't paying off the value of the car, just an amount that allows you to lease.

Maintenance is often taken care of. Since your lease will also come with a 2-3 year warranty, you typically won't have to worry about covering normal maintenance costs, unless of course they aren't covered by the warranty.

Negatives

Extra penalty fines can be added on. When you lease a car, you are given a certain amount of miles allowed during your lease period. If you go over that, then you will have to pay fines. You may also incur additional fines for excessive wear and tear and early termination.

Customization is limited. Typically, leases will allow you to do minimal customization on your vehicle; but big alterations are unacceptable. Whatever is done to the vehicle must be removed before the car is returned to the dealership.

You do not own the car. This may only affect the decision of those who take price in ownership of property and vehicles. When all is said and done, the dealership owns the car and you are renting it from them.

Now that you know the differences of buying vs. leasing, come into Bill Seidle's Nissan where our Finance Department will be glad to assist you with any questions you may have about buying or leasing your next vehicle.