Buy vs Lease near Baltimore, MD

Buying and leasing a car are two different things. While a program servicer is involved, the way you obtain the vehicle varies. So, our Sheehy Nissan of Glen Burnie team put this article together to explain how they work and which is best for you. When you’re done reading our guide, you’ll have more knowledge about both paths.

Buying

Purchasing a new Nissan or any other car doesn’t necessarily mean paying out a massive lump of money. Dealerships like ours understand it’s common to finance a vehicle. This means splitting the retail price into several installments until the model is paid off. The arrangement has a time limit, which depends on the agreement you’ve made with the lender. Shoppers who want to accelerate their ownership endeavors may benefit from securing the four-year contract. However, the seven-year program can provide lower contributions as well as extend the time it takes to cover the total balance of the car. After that, you’ll own the vehicle and be able to travel in the Baltimore area as the titleholder. 

Leasing

Is it your first time pursuing a Nissan? You can opt for a shorter commitment through the leasing program. This means that you’ll have a chance to briefly drive the vehicle around town or destinations like Leakin Park. To start this contract, you’ll need to agree to a mileage limit. This condition is usually attached to terms that last two to four years. During this time, you can pay installments like any finance plan. Instead of covering the cost of the car, you’ll be compensating the lease servicer for the depreciated value, which is much less than the retail price. As you approach the end of the contract, you’ll have a choice to switch to another car lease or allow the model to return back to the company managing your payments. Be sure to ask our Finance Department more questions if you’re interested in changing your plan to own the vehicle. 

Which Is Better for You?

Deciding whether buying or leasing is better for you depends on a few factors. If acquiring an asset is more beneficial to you, then you may want to consider purchasing a Nissan. At the end of a finance program, you’ll have options to trade in the car or continue driving it. Drivers who desire to use the vehicle as collateral can receive loans, or utilize the model’s value to get another car. Leasing is a temporary alternative that excludes the responsibility of ownership. You’re able to let the Nissan go back to the company that has your agreement or change your contract to eventually own the vehicle. We recommend that you weigh both choices to see which one is a viable route. That way, you’ll have peace of mind when traveling on Edmondson Avenue. Visit us at our location to converse with our team, or contact us online for answers regarding buying and leasing.

- Nissan Lease Return Center near Baltimore, MD