Leasing a vehicle is an excellent choice when looking for a car. In addition to no long-term commitment to one vehicle, this is generally less expensive than buying. Plus, with a Nissan lease, you have a lot of different payment options:
The Traditional Method
When you lease a car, you agree to make payments every month, which come with an interest rate. Unlike financing a purchase, a down payment isn’t typically required with leasing. However, you probably will need to start with a security deposit, which is usually about one month’s payment.
Multiple Security Deposits
To save some money, you may want to consider doubling that security deposit. This is often a good way to lower the interest rate. Plus, because it trims money off the total cost, this is a nice way to cut your monthly payments.
Single-Pay Lease
Another way to reduce your interest costs may be to pay for the entire lease upfront. If your credit isn’t great or perhaps you don’t have any credit history, this could be a good option. Edmunds explains how this car leasing option works:
“Imagine you planned to lease a car with no money out of pocket, and
the 36-month lease payment worked out to $350 per month with
the normally calculated interest rate. With these terms, your total
cost over three years would be $12,600. If you paid your entire lease
up front and the reduction in interest shaved $25 from each payment,
you would save $900. Your “one payment” would be $11,700.”
Questions About Leasing? Get in Touch with Bedford Nissan
If you want to get more information about leasing, contact our Nissan dealership near Cleveland. Or come see us to talk to a dealer about our latest deals and specials.
Connect with us
