There are two ways to get behind the wheel of your dream car. First, you can buy a car through some financing options. Second, you can lease the car. While buying may cost more up front, it’s often more affordable than leasing in the long run. However, leasing may be a great option for those who are on a fixed income or those who want to upgrade to a luxury car.
Most drivers prefer to buy a car by making a down payment of 10-20% and financing the rest. Buying often requires you to save more money for a down payment compared to leasing, but it also tends to be less expensive over a long period. Plus, unlike leasing, you’ll get to keep your car as soon as you pay off your car.
Leasing is much like renting. You pay little to nothing down, and there are small monthly payments. For those who are on a fixed income—like recent grads and retirees—leasing may be the best option. You can also upgrade to a luxury or sports car model that would normally be out of your price range when you lease. However, you have to give the car back when the lease is up, and there are often mileage restrictions.
Stop by Bates Nissan today to learn more. You can choose from a large selection of new and used cars, and the experts in our finance department can provide you with your best options for financing or leasing.