Buying or Leasing? Which is Right For You?
Buying or Leasing a Nissan in Brooklyn Park, MN
Financing a car is easy when you shop at Lupient Nissan of Brooklyn Park. The Lupient Automotive Group has helped drivers get into exceptional cars at great prices for several decades, and our finance team knows where to find the best leases and loans.
When you’re ready to drive a new car, our finance experts can help you choose between buying or leasing. The best financing option depends on your budget, driving habits, and credit score. We invite you to browse our financing deals on new Nissan cars, trucks, SUVs, and EVs, and visit our dealership near Bloomington to take your favorite vehicle for a test drive.
Why Choosing Leasing?
Leasing is the perfect financing choice for drivers who drive fewer than 15,000 miles annually and like getting a new car every few years. Leases are short-term financing options with several limitations. They are usually only available for drivers with good credit scores, while traditional auto loans have fewer restrictions.
When we lease a car through Nissan Finance, we use pre-established details like residual values, terms, money down, and interest rates. In a typical lease, the amount financed is the sticker price minus the residual, which makes the monthly payments smaller than in a traditional auto loan. The residual value (the car’s value at the end of the lease) is based on age, mileage, and condition - so leases always have limits on mileage. The limits are usually somewhere between 10,000 and 15,000 miles. If you exceed the mileage, you will receive a per-mile fee at the end of the lease. If the car has excessive wear and tear, you will also receive a reconditioning fee.
At the close of a lease, you have three options: return the car and walk away, return the car and lease a new one, or purchase the car for the residual value. If you lease, you’ll always have a car with a bumper-to-bumper warranty, the newest powertrain, and innovative technology.
When An Auto Loan is Right For You
Auto loans are the best choice for drivers who plan to own a vehicle but want to pay for it monthly. Because sticker prices are high, many drivers are choosing higher terms - often between 72 and 96 months. Your auto loan interest rate will be dependent on your credit score, and some people with exceptional credit will find options for 0% interest. When you pay for a car with an auto loan, you don’t have limits on mileage, and you can sell the car at any time.
Explore Financing Options at Lupient Nissan of Brooklyn Park Near St. Paul, MN
Lupient Nissan of Brooklyn Park makes it easy to apply for a loan or lease. We have a convenient online finance application, and you can learn about your buying power with our payment calculator.