Nissan

Nissan Of Bakersfield

2800 Pacheco Road
Directions Bakersfield, CA 93313

  • Sales: (877) 290-6798
  • Service: (866) 981-3395
  • Parts: (866) 921-1251
Info

 

Is leasing or buying the best way to finance your next Nissan? There are many of factors in choosing whether Leasing or buying a new vehicle is best for you. Below is a breakdown of each.

 

OWNERSHIP

                        LEASE

                                 BUY

When leasing a vehicle from Nissan of Bakersfield, Nissan will remain the owner of the vehicle. You will be permitted to use the vehicle for the length of the lease contract. At the end of the lease you will have the option to purchase the vehicle.

When you buy a new Nissan from Nissan of Bakersfield you will own the vehicle once financing is completed.

 

INITIAL COSTS

                       LEASE

                                  BUY

When starting a lease, you may pay "cap Cost" reduction (what would be called the "Finance Amount" in a loan), government or lessor charges. Other cost include insurance, security deposits, the first month's payment and any prior lease or credit dues remaining.

When you buy your Nissan, you could pay the full price and purchase the vehicle outright or you could make payments through a loan. Either way, you will be paying sales and government taxes.

 

PAYMENTS

                      LEASE

                               BUY

Monthly payments for a leased, new Nissan are generally lower as you only pay for the vehicle's depreciation. Depreciation is a measured by the vehicle's market value over the time and is not tied to the full purchase price on your Nissan.

Monthly payments for financed purchase of your new Nissan are often higher due to paying for the entire price on your Nissan, including state taxes and fees. Also, you will own your Nissan at the end of your loan term.

 

WEAR AND TEAR

                LEASE

                       BUY

Lessees are required to maintain their vehicle, including paying wear and tear. Leases will specify what charges there will be for wear and tear upon return of the vehicle

Purchases won't pay for wear and tear up front, but will have a decreased value, impacting trade-in or resale of the vehicle is there is excessive wear and tear.

 

GAP COVERAGE

              LEASE

                      BUY

GAP Insurance helps to cover the difference in the actual value of a vehicle and the balance remaining on financing in the event of a disaster, such as a total loss. GAP coverage is usually included in Nissan lease agreements.

 

GAP coverage is not required for financing a purchase it is still a good idea in case of a disaster, such as a total loss. Comprehensive and collision coverage may not cover the full value of the totaled car, but GAP insurance would. It is not usually included in loan agreements and must be purchased separately.

 

VEHICLE RETURN

                 LEASE

                            BUY

At the end of the lease term, there are several options. You could return your Nissan and get a new leased vehicle, you could walk away from leasing or if you really enjoyed your vehicle, you could purchase your leased Nissan at the end of your term.

When last payment for your Nissan loan leaves your account and you receive your Nissan title, you OWN your vehicle! It's up to you to keep it or sell it or trade it.

Ultimately, you can say good things about both buying and leasing. Your choice might be more of a combination of personal tastes. If you would like to dive deeper into the economics of leasing and buying feel free to visit us at Nissan of Bakersfield located at 2800 Pacheco Road, Bakersfield, CA 93313 and talk to one of our friendly and knowledgeable staff members about what suits you and your family.

Contact

Nissan Of Bakersfield

2800 Pacheco Road
Directions Bakersfield, CA 93313

  • Sales: (877) 290-6798
  • Service: (866) 981-3395
  • Parts: (866) 921-1251