Buying Vs Leasing

Weigh your options before deciding to buy or lease your next vehicle in the Jacksonville, FL, metro area from the Nimnicht Buick GMC. Here are some helpful hints to keep in mind.

LEASE


Leasing offers affordable payments with shorter terms
This lets you:

  • consider vehicles that have more options
  • get closer to your desired trade cycle
  • have peace of mind, as most leased vehicles are under warranty for the duration of the lease

Leasing offers options at the end of your lease

If the vehicle is worth more than the residual, you can:

  • exercise the purchase option and keep it
  • exercise the purchase option and sell it
  • apply the equity to your next vehicle

If the vehicle is worth less than the residual you can:

  • drop off the keys and walk away

BUY


Conventional loans typically require longer terms to reach affordable payments

This keeps you:

  • from trading into a new vehicle sooner
  • driving the same vehicle longer even when you’re ready to trade

conventional loans come with obligations when you trade

You may have to:

  • assume all risk for unexpected depreciation
  • pay unknown mileage expenses
  • pay total cost of using the vehicle, regardless of the value (being “upside down”)

Nimnicht Buick GMC will be happy to walk you through the pros and cons
of both buying and leasing your next vehicle. We welcome our friends
from throughout the greater Jacksonville metro area and beyond to visit
Nimnicht today and let us help you drive off in the vehicle of your dreams!

Questions About Leasing

1) What is leasing?

Leasing is a financial option that allows the customer to pay for their actual use of the vehicle, rather than for the whole vehicle. Payments are based on the estimated depreciation of the vehicle during the term of the lease, as well as some borrowing costs that are typically lower than those associated with a car purchase loan.

2) What are some of the key lease words I should know?

Capitalized cost: The vehicle selling price is known as capitalized cost.
Money Factor: Also called lease factor, this number is equivalent to the interest rate of a finance loan.
Residual value: The residual value is the value of the vehicle at the end of the lease.

3) How many miles per year can I drive?

Since a vehicle’s mileage affects its resale value, leases have an annual mileage limit. Generally, any mileage, up to 20,000 miles per year, can be selected.

4) Do I need good credit to lease a car?

Yes and no. While a good credit history will help, GM Financial is now offering leasing to customers with super-prime credit.

Benefits of Leasing

Less money up front

-A lease typically requires less money up front than traditional auto loans.

Protection from potential negative equity

-A lease allows you to avoid the risk of your vehicle’s value declining beyond its projected residual value.

Virtually worry-free driving experience

-Most lease terms are written within the factory warranty period, helping you avoid costly repair bills.

Affordable payments with shorter terms

-With a lease, you can get more bang for your buck, allowing you to consider newer models with more options.

Protection from unexpected depreciation

-A lease allows you to avoid the unexpected depreciation of a vehicle that can come with advances in technology, fluctuating fuel prices, negative publicity and model changes

Nimnicht Buick GMC will be happy to walk you through the pros and cons of both buying and leasing your next vehicle. We welcome our friends from throughout the greater Jacksonville metro area and beyond to visit Nimnicht today and let us help you drive off in the vehicle of your dreams!

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(904) 733-1616

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11503 Philips Highway • Jacksonville, FL 32256

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Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 7am-7pm

Open Today! Parts: 7am-5:30pm

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Nimnicht Buick GMC
Nimnicht Buick GMC
11503 Philips Highway
Jacksonville, FL, 32256 United States
(904) 733-1616
https://di-uploads-development.s3.amazonaws.com/nimnichtbuickgmc/uploads/2017/06/Open_Graph_Nimnicht_Buick_GMC.jpg
Nimnicht Buick GMC 30.1612858, -81.5332772.