Buying vs. Leasing Your Next Car

Buying vs. Leasing:  A Financial Comparison

Shopping for your next new vehicle is all about managing your budget.  Whether you're in the market to buy or lease, your budget is what allows you to explore the most financially safe options for you in Spartanburg.  Not everyone can afford to pay top-dollar for a brand new car, which is why leasing has become so popular.  But is it truly the most affordable option?  Here at Benson Nissan, we've compiled a list of PROS and CONS for helping you to decide between buying and leasing in Simpsonville.

Benefits of Buying

If you're in the market for a new car in Greer, buying lets you get the absolute most out of your vehicle purchase.  Since buying gets you eventual ownership, it's the best long-term commitment to take if you're positive that you love your vehicle.  Buying might cost you more upfront, but over time your overall costs will end up being less than if you were to sign a lease.  Unlike leasing, buying lets you drive unrestricted by mileage and requires no trade-in.  Once you pay off your loan, you'll have the freedom to do whatever you want with your new-to-you vehicle in Greenville.

Benefits of Leasing

On the flip side, leasing is ideal because it requires no commitment and less money upfront.  Determining which new vehicle to buy is challenging, so to help you, leasing lets you borrow instead of buy.  This borrowing period, or lease term, is the designated amount of time that you have to drive your vehicle before it must be returned.  Leasing is beneficial because it lets you drive the latest models every few years, whereas when you buy, you're stuck with what you own.  And at the end of your lease term, all you have to do is return your vehicle in good shape and then choose to either re-sign or choose another vehicle to borrow.

Learn More at Benson Nissan

Here at Benson Nissan near Shelby, NC, our finance team is dedicated to helping you choose a method that's most in line with your budget.  Learn more about the differences between buying and leasing and let our team help you get behind the wheel of your dream car in Forest City.  For more information, please call or contact us online at Benson Nissan today!