What is the difference between leasing and buying?

Leasing a vehicle means you essentially rent it for a set period, while buying means you own the vehicle outright. Leasing often results in lower monthly payments, but purchasing builds equity over time.

What This Means

When you lease a vehicle, like a used Nissan Altima, you're paying for the depreciation of the car during the lease term, typically three years. In contrast, when you buy a pre-owned vehicle, such as a used Nissan Rogue, you are making an investment that can provide long-term savings through ownership.

Why It Matters

The choice between leasing and buying can significantly affect your finances. According to recent statistics, nearly 33% of all new vehicles are leased rather than purchased [Source]. This trend highlights how many drivers prefer lower upfront costs and flexibility over long-term ownership responsibilities.

Your Next Steps

Before making your decision, evaluate your driving habits and budget. If you enjoy driving a new vehicle every few years and want lower payments, leasing might be the right option. However, if you value ownership and plan to keep your car for several years, consider purchasing a quality used Nissan from Stewart Automotive Group in North Canton.

If you have more questions or need personalized advice, get in touch with us today!