Finance vs. Lease at Parkway Nissan

Nissan Financing & Leasing Services in Hamilton, ON

Choosing between financing and leasing may seem confusing at first glance, but that’s where our Parkway Nissan finance experts are here to assist. What is the difference between financing & leasing? Financing is your easiest ticket to own your vehicle, where you’ll make monthly payments, then own the vehicle at the end of the term. Leasing is a form of “renting” a vehicle, where you’ll pay lower monthly payments, but have the option to upgrade more often, purchase the vehicle or simply return it. Read on as we go further in depth on the pros and cons of financing and leasing, and which one may be best for you.

Finance vs. Lease: A Video Demonstration

Why Finance Your Nissan?

If you want to build equity and own your Nissan once it’s paid off, then financing is right for you. Those who want full ownership of the vehicle and don’t want to be limited by the restraints put on a vehicle during leasing should choose to finance. By working with us at Parkway Nissan you may be eligible for special finance rates that make your rates even better. A few downsides with financing that you want to keep in mind are that the monthly payments are higher than leasing due to the inclusion of the sales tax up-front and that you’re financing 100% of the vehicle’s cost. As well, because a financing term is usually on the longer side, there’s a possibility of your new vehicle warranty running about before you’re ready for a replacement (but additional plans are available).

How our Flexible Terms are Influenced

The following five factors are what come into play when finding the financing solution that works for your needs. Our Parkway Nissan of Stoney Creek finance team will work with you and your budgetary requirements to find the package that works best.

  • Purchase price of the Nissan
  • Down payment
  • Amount borrowed
  • Length of time said borrowed money is paid back
  • Rate of interest on the borrowed money

Why Lease Your Nissan?

Do you love to drive the latest vehicle models, and also enjoy paying less on payments than you would when financing a vehicle? If so, leasing is for you. Our Nissan lease terms are offered between 12 and 60 months, so you can choose a short or long term plan, easily fitting into your lifestyle changes, and allowing you to easily upgrade to the latest and greatest. Further benefits include flexible terms, possibility not to have to pay the down payment, and not having to worry about selling or trading in the vehicle. Of course, with that comes a few downsides, those being that you won’t own the vehicle at the end of term, you being responsible for any excess wear and tear, as well as being capped on kilometres (which is 24,000 km o our program, what a typical Canadian drives in a year.

End of Lease Options

When your lease ends, you have 3 different paths available to you, depending on your needs. Either lease/purchase a new Nissan, purchase the Nissan you are currently leasing or return your Nissan.
Person surprising person with a new car by holding their hands over their eyes

Lease/Purchase a New Nissan

One of the biggest perks of leasing is being able to upgrade more often, so if a new Nissan catches your eye, lease or buy a brand-new one!
Dealership salesperson shaking hands with person in dealership

Purchase your Currently Leased Nissan

If your lease term with your Nissan made you absolutely fall in love with the vehicle and you’d like to keep on driving it, you can easily purchase said vehicle. You only are required to pay the previously determined purchase price and any previously agreed upon incidentals. As well, you are not subject to any additional km or wear & tear charges.
Person handing to keys to another person

Return Your Nissan

If you no longer wish to drive your current Nissan or a different Nissan, you can simply return the vehicle back to us.

Apply For Credit at Parkway Nissan of Stoney Creek

The steps toward financing or leasing your next Nissan starts with you filling out our credit application. Start the process by entering your information into the form below, then one of our Parkway Nissan financial representatives will contact you to engage on the next steps. Our form is verified and secure, but if you’d rather deal with us in person, please visit us at our local Hamilton location. Apply for financing, today, and take advantage of either of our Nissan financing and leasing terms, we make the entire process as simple as can be.