Advantages of Leasing a New Nissan from Naples Nissan
Car leasing can offer advantages and can be an attractive alternative to buying, although it's not for everyone, as we'll discuss later. You must decide about the importance and priority of these benefits to you.
So, what are the potential advantages of leasing a New Nissan from Naples Nissan?
Lower Monthly Payments Because you only pay for the portion of the car or truck that you actually use, your monthly payments are 30%-60% lower than for a purchase loan for the same car and same term.
More Car, More Often Since your monthly payments are lower, you get more car for the same money and drive a new vehicle every two to four years, depending on the term length of your leases.
Fewer Maintenance Headaches Most people like to lease for a term that coincides with the length of the manufacturer's warranty coverage so that if something goes wrong with the car, the repairs are always covered.
Lower Upfront Cash Outlay Most leases require little or no down payment, which makes getting into a new car more affordable and frees up your cash for other things. However, you can choose to make a down payment, or trade in your old vehicle, to lower your monthly payment amount.
Lower Tax Bite In most states of the U.S. and in Canada, you don't pay sales tax on the entire value of a leased vehicle as you would if you purchased. You're only taxed on the portion of the value that you use during your lease. The tax is spread out and paid along with your monthly lease payment instead of being paid all at once.
No Used-Car Hassles With leasing, the headaches of selling a used car are eliminated. When your lease ends, you simply turn it back to the leasing company and walk away, unless you decide to buy it or trade it.
Gap Coverage Included Most leases automatically include free "gap" protection in case your vehicle is totaled in an accident or stolen, and you still owe more than the vehicle is worth. Loans do not generally come with gap protection.
What are my options at the end of my Lease?
Turn in Your Lease One option is to simply turn your lease in at the end of the contracted term. We will review with you all of your options including the leasing or financing of your replacement vehicle. Naples Nissan can assist you in returning your Nissan lease.
Trade in your lease Depending on how far you are into the contracted lease term, there is a possibility that you will be able to trade out of your current lease and into a New Nissan or pre-owned vehcle. We will give your vehicle a no obligation appraisal so that you will know what your trade-in options are.
Buy out your Lease Some people choose to buy the vehicle that they are leasing at the end of the contracted term. Naples Nissan is happy to review the proper steps tp purchasing your lease and we will also process the necessary forms for you.
Is Leasing Right for me?
Although you may be attracted to the many benefits of new car leasing, you should consider the questions below before making a decision. If you answer "yes" to any of the questions, it's a good indicator that leasing may not be right for you.
Do you think you'll want to end your lease early? Car lease contracts are purposely written to discourage, even prevent, early termination. To do so usually means you'll pay termination charges and all remaining payments. Therefore, if you lease, you should have a stable lifestyle and a good job situation to minimize the possibility of needing to terminate early. Wanting or needing to end a lease early is the most common problem people have with leasing.
Do you typically drive your cars more than 15,000 miles a year? New-car lease contracts limit the number of miles you can drive to 10,000-15,000 miles per year. If you exceed your limit, you're slapped with "excess mileage" charges at the end of the lease. Sometimes, additional miles - if you know you'll be driving more - can be "bought" up front at the time you sign your lease, at a lower per-mile cost.
Do you think you'll want to customize your car, make modifications, or repaint? A leased car doesn't belong to you, it belongs to the leasing company. Therefore, you cannot make modifications and install custom equipment that alters the car. If you do, you'll likely be charged for the cost of repairs to undo what you've done.
Do you mistreat your cars or fail to keep them in good condition? Leasing companies require that you return their car at the end of the lease with no more than "normal" wear-and-tear. Anything more and you'll pay for the damages. You are responsible for insurance, upkeep, and maintenance just as with a purchased car. Some people mistakenly believe the leasing company is responsible.
Do you prefer "fad" cars or cars that frequently change style? These types of cars usually lose resale value quickly, which means their lease "residual" value is lower. Low residual value translates into higher monthly lease payments. This kind of car could easily have a higher monthly lease payment than a more expensive car with a better resale history.
Are you emotionally attached to the idea of owning your vehicle? When you lease a new car, you have no ownership during your lease, unless you choose to buy at lease-end - which about a third of all leasers do. Leasing is not all that different than buying with a loan, in which case the bank holds the title and you don't own your car until the loan is paid off. It's just that, when buying, you build up equity because of your higher monthly payments and, when leasing you don't.
To find out more about a Nissan Car Lease or Finance Program for your next car contact our friendly staff at 1-866-890-1446 or contact us online now. We would be happy to review all of the available financing options with you as well. We proudly serve the Naples FL & Ft Myers FL areas. Learn more about our Naples Nissan Dealership here.