Finance or Lease?

Financing is the way that most people leave Nissan of Athens in their new car; and the reason they do it is because that's what they know. Financing a new Nissan is as simple as knowing the price of the car, the interest rate on the loan, and the length of time they'll have to pay that loan off. That, along with a little to the state and to Uncle Sam, will determine how much they pay each month. At the end of the loan period of course, they'll receive the title and own their car outright. And since it's a Nissan, it will still have a great resale value.

Financing also generally accommodates people who have some negative marks on their credit. Contrary to popular belief, you don't have to have a perfect credit score to finance a new car. With a little bit of a down payment, our team can almost always get someone financed. Typically speaking, financing appeals the most to people who like to hang on to the cars that they love and that have been so good to them.

Financing doesn't necessarily mean buying a new Nissan, it can also apply to buying a used car as well. Ideally it'd be best to buy a used car without financing, but not everyone can drop the cash for a new pre-owned vehicle. Also, incentives such as "zero-down payments" and "cash back bonuses" most likely will not be available when financing used cars.

Leasing is not as common as financing, but it is gaining in popularity. This is partly because the monthly payments on a Nissan lease are generally lower than if you finance the same vehicle. The reason for this is simple. When you lease a car, you don't actually own it. What you own is the right to drive it and enjoy it. When your Nissan lease period is up, you can just return it. The leasing company now owns it, along with any residual value it has. Or, you can choose to buy out the lease. But let's not get too far ahead.

Leasing a car just means that you've agreed on the current value of the car you want, and you agree on the period of time you want to use it for let's say three years. At the end of those three years, it will still have a value, right? Well, you don't have to pay for the extra value that you won't be using. Instead, that's taken off in the beginning and you just pay for the value during the three years you're leasing the car. After that you can choose to turn it in for a new Nissan lease, or to pay the extra value (known as the residual) and buy out your lease.

The decision to lease typically appeals to drivers who like the latest in technology and want to drive a new Nissan every few years. These people are not interested in owning a car for an extended period of time, and only want to pay for the portion of the car that they are using.