Nissan Auto Loan vs Auto Lease in Slidell, LA serving Covington and Picayune

Nissan Auto Loans vs. Auto Lease in Slidell, LA, Serving Covington and Picayune

Our finance department at Supreme Nissan in Slidell, LA, serving Covington and Picayune, can help you determine whether you should buy or lease your new Nissan. There are advantages and disadvantages for both, and our expert staff is prepared to sit down and go over them with you. We will discuss your unique lifestyle and suggest an option that aligns with your needs and values.

Buying

The main advantage of buying a new Nissan is being able to have full ownership of your vehicle. You can update the exterior or add interior modifications to suit your needs without worry. When you finish paying off your loan, you will get the title to your vehicle, lien release, or a letter notifying you that your lien has been released, and you can use that vehicle as a trade-in toward a new Nissan. However, there's no mileage restriction when buying a Nissan, so a vehicle with high mileage can have lower resale or trade-in value. Also, the loan contract can last anywhere from 24 months to 72 months with a payment that is usually higher than a lease payment.

Leasing

If you want to upgrade to a new car every two to four years, you probably want to lease a new Nissan rather than buy. Your payments are most likely going to be lower since you're paying only for the portion of the vehicle you'll use during the lease. You're also likely to have a lower, or non-existent, down payment as well. However, you can't customize your vehicle during the lease. Your lease contract can last from 24 to 60 months. At the end of this contract, you have the option to purchase the vehicle or return it to our dealership. You should carefully consider how many miles you intend to drive during your lease because a mileage overage could result in charges.