Buy vs Lease


When choosing your next vehicle, one of the most important decisions to make is whether to buy or lease. Our team at Sheridan Nissan put together this comprehensive overview of the benefits of each option to help New Castle, Wilmington, and Newark, DE, area drivers decide.

We offer both leasing and financing at our dealership and will work with you to develop a plan you’ll feel confident about moving forward. Dive in below to learn more and don’t hesitate to contact our finance team with any questions!


Lease vs Buy Overview

Buy vs Lease

Car Ownership

Yes

No

Loan Payment/Lease Length

Up to 7-8 years

Usually 2-3 years

Late-Model Vehicle

Maybe

Yes

Mile Limits

No

Yes

Customization

Yes

Maybe



What is Buy vs Lease

What Is Leasing a Car?

First, let’s define leasing. Simply put, when you lease a vehicle, you’re renting it from a dealership for a set period of time. Sometimes the dealership will also ask you to put down a deposit at the start of your lease term.

What Is Buying or Financing a Car?

The main difference between leasing and buying a vehicle is ownership. Typically, you’ll negotiate a price with the seller or dealership. Next, you’ll either pay the cost up front or take out a loan. With a loan, you’ll pay monthly installments plus any additional interest.

If you trade in your current car for credit toward a new one or you put a down payment on the vehicle, that amount will be deducted from the total.


Buy vs Lease Benefits

Benefits of Leasing Your Next Car

For some people, leasing provides the added freedom of trying out a newer model without the added commitment of owning a vehicle for years into the future. Furthermore, at the end of the lease term, you’ll return or easily trade in the vehicle to the dealership without spending time or energy selling it before moving on to your next set of wheels.

Check out our current Nissan lease specials to see if any rides catch your eye!

Benefits of Buying or Financing Your Next Car

Other drivers prefer to own their vehicle, either purchasing it outright or over time. When you buy or finance a car, you don’t have any restrictions when it comes to mileage, maintenance, repairs, or customizations. When you’re ready to purchase a new car, you can sell or trade in your vehicle for cash or credit to help pay for the cost of your next vehicle.


Buy vs Lease: Final Call

If you’re still considering which of these two options will work better for you, take a moment to ask yourself one or more of the following questions:

  • What are my short- and long-term car goals?
  • Do I want to commit to owning a car?
  • Do I want access to the latest available features?

As you consider these questions and the information outlined on this page, feel free to reach out to a team member to discuss your options in greater detail.


Lease vs Buy: Which Is the Best Option for You?

At Sheridan Nissan, we look forward to serving New Castle, Wilmington, and Newark, DE, area car shoppers throughout their car-buying or -leasing journeys. Give us a call or schedule an appointment online to get started today!

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(302) 326­-6100

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114 S Dupont Hwy • New Castle, DE 19720

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Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 7:30am-6pm

Open Today! Parts: 7:30am-6pm

Sheridan Nissan 39.66374, -75.604525.