If you have always bought a new car before and are thinking about leasing one this time instead, before you sign any paperwork to lease a Nissan Chicago there are a few things you should think about.
Do you own a business? If you do, leasing a new car can often be the best choice as, in many cases, part of your payment every month will be tax deductible. If, however, you are leasing a car as an individual car owner, itâs highly unlikely you can deduct anything on your taxes. Thus, a leased car may not be as beneficial for you.
Leasing a car like a Nissan Chicago will usually allow you to own a nicer car as the car payments are usually lower. However, do consider leasing carefully as, sure, monthly payments may be lower but you wonât ever own the car. So, when it comes time to turn it in, all that money you spent on it is now lost money and the dealership gets the car to either re-lease or sell. Buying a car, on the other hand, even with the higher monthly payments, still means the car will ultimately belong to you. That also means you can recoup some of your money when it comes time to sell it.
Finally, do you have enough money for a down payment for a new car or a trade-in of an old car instead? If not, then leasing may be just the answer for you as no down payment is necessary and you wonât need a trade-in either.
Weigh up all of this before you decide to lease a car, as there are positives and negatives for everyone.
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