Milford Nissan

Compare Buying vs. Leasing Options – What’s Right for You?

If you’ve suddenly found yourself in the market for a new car, truck, SUV, or crossover, one of the most important decisions you’ll need to make is whether you want to buy a new or used vehicle, or lease a new vehicle. At Milford Nissan we know that buying or leasing a vehicle is a big investment, so we want to help you make the right decision for your driving style and budget. Even if you’ve already got your heart set on one of the two options, it might be a good idea to review the facts, pros, and cons of each to ensure you’re making the right decision. We want to make sure that you have been provided all the information you need to make that decision confidently.

If you haven’t decided whether you’ll be buying or leasing a car, don’t worry! We’ve got you covered at Milford Nissan. We’ll go over all the basics of buying vs. leasing by comparing the options side by side listing the facts, pros, and cons. Before we get started, here a few things you might want to consider that will help guide your decision:

  • The Type of vehicle you want
  • Your daily commute distance
  • Maintenance cost
  • You driving habits
  • Your monthly budget

While we can’t make the decision for you, the options below highlight the factors of buying and leasing and can help you decide what’s right for your lifestyle. While leasing might be right for you, it may not be for the next person. Each person has their own driving style, habits, and vehicle needs and it’s up to you to decide which option fits you the best. If you have any questions about leasing or buying, give us a call at (508) 422-8000. Our team of knowledgeable auto experts is happy to help with anything you need at Milford Nissan in Milford, MA.

Buying Facts

  • You drive only 1 vehicle for 60+ months
  • No limit on mileage
  • Buyer pays for the full cost of the vehicle
  • You can trade-in or sell your vehicle anytime
  • Maintenance must be covered by owner or warranty
  • Monthly payments vary depending on down payment and APR
  • Buying builds the buyers' equity
  • Pros to Buying 

  • The vehicle is completely yours after loan is paid off making it more cost effective for some in the long run
  • No limit on mileage
  • No monthly car payments once the loan is paid off
  • Buyer has the ability to customize or modify vehicle
  • Cons to Buying 

  • Monthly payments are typically higher
  • Down payment may be more expensive
  • Potential hassle to sell the vehicle later on
  • Vehicle value depreciates quickly
  • Maintenance costs are your responsibility

  • Leasing Facts

  • You can drive up to 2.5 vehicles over a 60-month period
  • Lease periods can last 24-72 months
  • Certain mileage amount allowed per year
  • Minimal maintenance is required
  • Monthly payments vary
  • Lease price is based on percentage of vehicle cost & length of lease depending on down payment
  • Pros to Leasing 

  • You can drive a new car about every 2-3 years
  • You’ll always have the latest features and a new vehicle
  • Lower up-front costs
  • Possibility of lower monthly payments
  • Cons to Leasing 

  • Restriction on miles you can put on the car
  • You’re responsible for damages, wear, and tear
  • Early lease termination can be expensive
  • You don’t own the vehicle
  • You cannot customize the vehicle