One of the major questions when choosing to get behind the wheel of a new Nissan car at Hall Nissan Virginia Beach is whether you should take out a loan or a lease. It takes some research to make an informed decision about buying versus leasing, and here in our Nissan finance center, our representatives are happy to help you make that decision.
Here are the differences between auto loans and leases.
Advantages of Auto Loans
When you buy a new Nissan car, you are likely going to be taking out an auto loan. These are some of the advantages of buying the car outright:
- More control: When you own a car, you are free to sell or trade it in at any point.
- Financial equity: The longer you own your car, the more you’ll save versus taking out a lease.
- Bad credit welcome: Here at our Nissan finance center, we will provide auto loans to people with bad credit or no credit.
Advantages of Auto Leases
If you’re new to leasing a Nissan car, you can think of it as being similar to a long-term rental. You will be able to drive the car for a certain amount of time, and then you’ll have to make a decision about what to do at the end of the lease. Here are some of the advantages of leasing:
- Lower monthly payments: Monthly payments on leases are typically lower than they are on loans.
- Lease-end flexibility: At the end of your lease, you’ll have three different options related to what you do with your leased vehicle. You can trade it in, buy it outright, or return it and walk away.
To learn more about leases and auto loans, visit us here at Hall Nissan Virginia Beach.