When is it Better to Lease vs Buying a RAM Truck?
When is it Better to Lease vs Buying a RAM Truck?
Posted on March 28, 2021
When it comes time to upgrade to a new truck, you may have considered leasing and buying and wondered which option is best. You can go with leasing or financing your new vehicle. The answer to that question depends on your circumstances since either option is doable. Let's take a look at the Nissan lease and finance options explained.
When To Buy Vs Lease A Truck
Buying a truck outright means you are going to finance it. This is how many people go about purchasing their next new ride. One positive aspect of buying a new truck is that you will own the truck free and clear at the end of your loan term. You'll make payments on a monthly basis, and normally you'll pay between 3 and 6 years. Financing payments are always higher than lease payments. Financing is also easier to get if you have any trouble with your credit. But remember the truck is yours in the end. While making the payments, it's considered yours too. So, you can drive it as much or as little as you want.
When To Lease A Truck Vs Buy
When you lease a vehicle, you take possession of it, and it is generally cheaper per month. The other great thing about leasing a vehicle is that you can get one that is more than what you typically be able to afford if buying it because the payment is lower. However, there are a few rules. You must keep the mileage at or below 24,000 km a year or be subjected to a small fee. The dealership can tell you the exact amount.
You also can't add aftermarket products to it. When you lease a truck, you will sign a contract that tells you exactly how long your contract time is. The contract also spells out the condition the car must be in when returned. When the lease is up, there is an option to buy the vehicle outright if you choose.
When deciding which method of getting a new truck is right for you, it will depend on how much you drive and what your goals are. If you plan on driving a lot of miles, then purchasing may be best. If you don't drive much and want to stay on top of the newest rides, then leasing might be a better option. Contact us for more info about leasing vs buying.