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| How large of a down payment do I need to make? |
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| The bigger your initial payment is, the less you will have to finance. With a lower amount to finance, your total interest charges will also be less. No one knows your personal situation as well as you do, so knowing how much you can afford to pay each month, and planning accordingly is always advisable. Also, do not forget to figure in taxes and other expenses when doing your planning. |
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| How do I decide between buying and leasing? |
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| There's no right or wrong answer. You need to determine what better fits your needs. Generally, leases are better for those who drive 15,000 or fewer miles per year, take excellent care of their vehicles, and want a new car every 2-4 years. Leases also enable you to get a bigger, better-equipped car than you could afford to purchase, and you only have to pay for the portion of the car's life that you use. Buying is ideal for those who drive a lot of miles, put their vehicles to heavy or rough use, and want to build equity. Buying also gives you the freedom to treat your car as you please: sell, customize, trade, etc. As for maintenance and operating costs, there's no difference at all. |
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| Does Nissan offer financing for used cars? |
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NMAC offers SignaturePURCHASE financing for the following vehicles through your local Nissan dealer:
• All 1- to 5-year-old Pre-Owned Nissans manufactured for U.S. distribution, with fewer than 85,000 miles. • All 1- to 5-year-old non-Nissan pre-owned models, with fewer than 85,000 miles. See your Nissan dealer for details. |
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| Can I lease a used vehicle? |
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| NMAC currently only offers leases for new Nissan vehicles. Please check with your dealer; he or she may offer pre-owned leases. |
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| Can I buy a non-Nissan vehicle with NMAC financing? |
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| NMAC provides financing for 1- to 5-year-old non-Nissan pre-owned models sold by your Nissan dealer. NMAC leases are exclusively for new Nissan vehicles. |
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| How can I improve my credit? |
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| Months before you buy, cancel extra credit cards, pay off debt, and maintain steady employment. In addition, get a copy of your credit report at least 60 days in advance, so you can clear up any errors. If you have a limited credit history, consider finding someone who is willing to co-sign (i.e., share responsibility) for your loan. |
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| How much is my trade-in worth? |
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| The amount your dealer will offer you depends on a number of obvious factors, like automobile make and condition, to name a few. Check resources such as an independent car value guide for a rough idea of what your car is worth. But, a vehicle survey by a dealer is always necessary to determine trade-in value. |
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| Can't I make more money selling my car on my own? |
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While you might make more money (trade-in value vs. resale value) selling your car on your own, trading it in offers several advantages:
• You can get immediate cash or credit. • The dealer handles the paperwork and might pay off your current loan/lease. • You won't have to deal with running ads, strangers in your home and car, bad checks, or liability for mechanical problems. |
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How large of a down payment do I need to make?