GET BEHIND THE WHEEL OF A NEW NISSAN WITH STRESS-FREE NISSAN LEASE DEALS

Leasing a new Nissan gives drivers the benefit of driving brand-new vehicles without the typical up-front high costs of purchasing and maintaining a new car. If you are in the market for a new vehicle and are wondering about the ins and outs of how a vehicle lease agreement works, Ingram Park Nissan has you covered. The step-by-step guide below will help take the stress out of finding the best Nissan lease deals in your area.

WHAT ARE THE BENEFITS OF LEASING A NEW NISSAN?

Few people have enough cash on hand to purchase a brand-new vehicle outright. Fortunately, auto loans and leases make it possible to drive home the latest models for smaller monthly payments instead of a large lump sum. Leasing is particularly appealing in this way. Monthly auto lease payments are typically lower than monthly loan payments, and you often avoid some of the initial fees, such as DMV costs, which may be paid by the dealership.

Another benefit of leasing a new Nissan is that once the term of your lease is finished, you have options. You can either purchase the vehicle for the remainder of its dollar value, or you can turn the vehicle in, lease a brand-new vehicle, and start again. Choosing a new model to lease allows you to always have the latest in safety features and available upgrades.

You also avoid the hit of depreciation that comes with driving a new car off the lot. A new car can lose up to 40 percent of its value in the first 5 years of ownership. But with a lease agreement, you actually only pay for the dollar amount that the vehicle will depreciate over the term of your lease, and at the end of the lease, you can return the car to the dealer.

A STEP-BY-STEP GUIDE TO LEASING A VEHICLE

If you are ready to start digging into some Nissan lease deals to find the best one for you, here are the steps you should follow to successfully lease your next vehicle:

1. SET A PURCHASE BUDGET

It’s important to know how much money you can afford to make your monthly lease payment on time and avoid late fees. To figure out how much you can pay toward your vehicle each month, make a monthly budget based on your current spending habits.

Start by analyzing your spending habits. Look over the past month or two of your bank statements and make a list of all your expenses. Organize them into categories, such as utilities, food, rent or mortgage payment, entertainment, fuel, insurance, credit card bills, and so on. This will help you determine which are nonnegotiable and consistent from month to month (such as rent or utility payments) and which you might be able to adjust if you need to refocus on how you spend your funds (such as entertainment).

Once you know how much you are spending each month, compare it to how much money you have incoming every month. The balance between the two is how much you have to put toward your monthly lease payments. If you need a little more, play around with your flexible expenses until you have an amount you can work with. Don’t forget to set aside some money each month for your savings account for unexpected emergencies that may arise.

2. REVIEW YOUR CREDIT SCORE

Since your credit score shows the history of how you’ve repaid debt in the past, lessors use your credit score to determine how much of a financial risk providing you with a lease will be. Credit scores can range from 300 to 850, with higher being better. If your credit score is above 680, you will easily be able to obtain a reasonably priced lease agreement. If your score is above 740, you will get an even better deal, thus highlighting just how important improving your credit score is when obtaining a lease agreement.

To prepare, review your current credit score before applying for a lease agreement. You can get your credit report and score for free once a year from each of the three main credit agencies: Equifax, Experian, and TransUnion. If your credit score is on the low side, you can take some time to improve your credit before opening a lease. This can increase your chances of being approved for a lease and obtaining a better rate, thus lowering your monthly payments.

3. CHOOSE YOUR NISSAN

Once you have come up with a budget and know how much you would like to spend monthly on your leased vehicle, and you have worked on improving your credit score to a number above 680, you are ready to find your next vehicle to lease. Choosing your new Nissan is the fun part!

Are you looking for something classic such as a Nissan Altima? Thinking about going electric with a model like the Nissan LEAF? Or do you have your eye on a Pathfinder for more passenger and cargo space? Consider your lifestyle and your needs, and decide which vehicles you would like to take for a test drive.

4. FIND LEASE DEALS NEAR YOU

It’s not just the vehicles you need to compare. You will want to shop around at multiple car dealerships to see what they offer for leases. You want to ensure you are leasing a competitively priced vehicle and not just opting for the first vehicle that piques your interest. Consider the maintenance included with the lease, mileage limits, and so on. Remember to stick to your initial budgeted dollar amount and be willing to walk away from a dealership if your required terms are not met.

5. REVIEW LEASE TERMS AND SCHEDULE OF FEES

Your lease agreement will include a time limit for the term of the lease, which is typically 24 to 36 months. There may be some fees, so take a look at those. Some are negotiable, but some are not. It is always a good idea to read through your entire schedule of fees to confirm the terms of your lease agreement before closing the deal. If you are ready to lease your next Nissan, contact Ingram Park Nissan and test drive your next vehicle today. Our knowledgeable sales experts will help you find the perfect Nissan vehicle and secure a lease deal that works for you. We’re waiting to help you today!