A Nissan Altima is an affordable mid-size car. If you are looking for a car that can comfortably fit your family or friends, you may be considering obtaining one. As you are doing your research, you may start to wonder if leasing a car is a good option for you. Learning the pros and cons of leasing a New Nissan Altima will help you decide.
Cons of Leasing a New Nissan Altima
- You Need Better Credit to Lease Than to Buy
One of the cons to leasing is that you often need good to great credit in order to be eligible to lease a vehicle. There are many programs out there that can help those with bad credit get a car loan. But these programs are not in place for leasing. If you are considering leasing a car and have questionable or fair credit, contact a dealership and ask what score you need in order to lease a car.
- You Are Only Allowed a Limited Number of Miles
The other major downside to leasing is that you are only allowed a limited number of miles per year. If you go over, you are charged a penalty per mile and that can penalty can be high. Your contract will state how many miles you are allowed, but it typically ranges from 10,000 to 12,000 miles per year. If you drive a lot, a lease may not be a great deal for you.
Pros of Leasing a New Nissan Altima
- Leasing is Cheaper than Buying
One of the major benefits to leasing a car is that it is cheaper to lease a car than it is to buy. This is because you are not gaining equity in the car. You are basically renting it. You do have the option of buying the car at the end of the lease if desired. However, if you don't have the money to afford a full car payment, leasing may be a great option for you.
- You May Be Able to Write-Off Lease Payments if You Own a Business
The last benefit to leasing is that you are able to write-off a portion of your lease payments if you are self-employed or own a business and are using the car part of the time for business purposes. You are not able to write-off any portion of a new car payment, making this a great option for those who need a car that they can use to conduct business.
If you are unsure whether you should lease or buy a new Nissan Altima, stop by your nearest Nissan dealership today. You can explain how much you can afford, what your credit situation is and how much you drive and help you determine which option best fits your needs.
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