Nissan Motor Acceptance Corporation (NMAC), the lessor, owns the vehicle.
You, through a cash transaction or financial agreement with a lender, own the vehicle. The lender holds the title until the vehicle is paid off.
|Up-front costs: |
Initial costs may include the first month's payment, security deposit, taxes, registration fees and license fees. Taxes and fees may be paid monthly and may vary by state.
You may elect to pay for the vehicle in full in cash or finance it. If you choose to finance, a down payment, taxes and registration fees may be due up front.
Depending on the mileage and term you've selected, monthly lease payments may be lower than purchase payments, because you only pay for the portion of the vehicle being used during the lease term.
If the vehicle is financed, the first payment is due between 30 and 45 days after you've signed the contract. Generally, purchase payments are higher than lease payments, as you pay the entire purchase price of the vehicle, in addition to the finance charges.
You are responsible for any payments remaining in the lease term and any excess mileage fees incurred. NMAC may charge an early termination fee.
You are responsible for any payoff amount amount and possible minimum finance charges. NMAC does not have early purchase termination fees.
The maximum term is 48 months.
The maximum term is 84 months.
Maintenance & repair:
This is your responsibility. However, depending on the mileage limit and term you've selected, the vehicle may be covered under the original factory warranty throughout the duration of the lease and may not reach mileage that requires major services.
Maintenance & repair:
This is your responsibility.
You do not have to worry about the vehicle's residual value during a lease, as this is a pre-determined figure set by NMAC at the beginning of the lease. It does not change.
In a purchase, there is a risk that the vehicle's value will depreciate over time, depending on driving habits, maintenance and market value.
You can choose between a 12,000- or 15,000-mile-per-year lease. If you exceed the mileage limit you've selected, you will be billed for the excess mileage when you turn the vehicle in to Nissan. You will not pay a mileage penalty if the vehicle is traded in.
There are no mileage restrictions. However, higher mileage accelerates the depreciation of the vehicle, which can result in lower trade-in or resale value.
End of term:
At the end of the lease, you have several great options. You can purchase your Nissan at the pre-determined residual value, turn it in to Nissan and take care of any end-of-term obligations, extend your current lease or use your leased Nissan as a trade-in for another vehicle.
|End of term:|
At the end of your finance contract, your Nissan vehicle is yours to keep or use as a trade-in for another vehicle.
Who should lease?
Leasing a Nissan vehicle through NMAC may be a better option for customers who:
- Would like lower monthly payments
- Wish to get a new vehicle more frequently
- Are seeking lower up-front costs
- Drive fewer miles per year
Who should purchase?
Purchasing a vehicle may be a better option for customers who:
- Don't want any mileage restrictions
- Intend to make their final payment and own the vehicle
- Plan to keep the vehicle for an extended period of time
- Wish to customize the vehicle's appearance