2022 Nissan Pathfinder

Buying a new vehicle is usually expensive, so we will help you decide on a method that will be affordable for you. There are two methods of buying a car that you can use; a lease vs loan. Both methods have their advantages and disadvantages, and we unpack them here for you to use when you decide to buy a new vehicle.

What is a Lease?

Leasing is similar to renting a car, but for more than a month, usually between 24 or 36 months. Although it can be for any number of months. Instead of paying off the car, you only pay for the amount of depreciation that is expected to occur during a set period of time. You normally, but not always, are expected to put down a deposit on a leased car.

What is Capitalized Cost?

This is the ultimate price of the car. This price is normally fixed but you can still negotiate it downward with many dealerships. A lower cap cost means you’ll be paying lower monthly installments. You can also get cap cost reductions which are special lease deals from automakers.

What is Residual Value?

The residual value is the estimated value of a car at the end of its lease term or useful life. The residual value (also called salvage value) is the predicted value of what a car is worth at the end of the lease agreement. The lessor uses the residual value to understand the number of monthly payments the lessee will make during the life of the lease period. It is generally accepted that longer lease terms have lower residual values.

Benefits of Leasing

• Your monthly lease payments and overall monthly cost may be lower than a traditional financing loan
• You don’t have to go through the hassle of selling the vehicle once your lease is up
• The contract terms for leasing are typically shorter than a car loan
• You have the ability to turn the vehicle in at lease end and get a new vehicle

Cons of Leasing a Vehicle

• You don’t own the vehicle • There are annual mileage limitations
• There may be a penalty if you terminate the lease contract early
• A lease agreement is a binding contract
• A lease agreement, once signed, becomes a legally binding agreement between you and the car leasing company. In return for the use of the car for a specific period, you agree to make a monthly payment. If you break that contract by failing to make a payment, you’re expected to return the car.

What is Traditional Vehicle Financing?

Traditional vehicle financing gets you behind the wheel of a new or used vehicle and requires you to make payments to eventually own the vehicle. When the car is fully paid off, you’ll own it and be able to retain the vehicle’s remaining equity towards the purchase of a new vehicle. What happens if you finish paying off the vehicle and still love it? You can choose to continue owning the vehicle to take advantage of lower ownership costs by not having to pay monthly lease or finance payments

Benefits of Financing

• Once the vehicle has been paid off you own it
• Unlike a lease, you don’t have to return the car
• You can drive as much as you want; no mileage restrictions
• Once your car is paid off you can use it as an upfront payment
• You can sell your car privately
• You can customize the vehicle with no restrictions at lease turn-in
• You won’t have to make payments when the loan is paid off
• Financing is easier than leasing
• Refinancing a vehicle loan can save you money
• You decide if you want to fix the vehicle or not

Cons of a Vehicle Loan

• As with any loan, there will be an interest rate where you will have to pay interest
• After paying off the car, there could be increased maintenance costs due to the age of the car

You Own the Car

By purchasing a car through financing, you will own it as soon as it is paid off. While you’re still paying for the car the bank owns the car title until you pay it off, but there are typically no restrictions on what you can or cannot do with your car. Plus, your ownership grows slowly at first, but increases as the interest declines. The best way to maintain positive equity is to make a sizable down payment and get the shortest loan term you can afford.

There’s No Mileage Cap

One of the biggest benefits of financing your car is you don’t have to worry about a mileage cap. Beyond the costs of fuel and maintenance, there is no financial penalty for driving long distances.

How Much Does the Nissan Pathfinder Cost?

The new Pathfinder starts at $43,798 beginning with the S trim level. The Pathfinder comes in 5 trim levels from the Standard 4WD trim up to the Platinum 4WD trim. All models feature 4WD capability, 7 drive and terrain modes, and a V6 engine with 9-speed automatic transmission.

Performance

The new Pathfinder has been re-imagined and finely engineered to be more powerful and rugged than ever before. Off-road capability is at an all-time high with available class-leading capabilities. Dial into 7 drive and terrain modes each specifically designed to match disparate conditions, from snow and rain to sand, dirt and gravel. Pathfinder’s intelligent 4×4 also features a new direct coupling system that offers enhanced traction, precise and stable handling, which means a more responsive drive and no wheel slippage. Pathfinder offers more power for greater towing performance producing 284 hp and 259 lb-ft of torque, with the ability to tow up to 6,000 lbs.

Interior and Cargo

Every detail of the new interior was designed with the intention of bringing you the ultimate luxury experience. Android Auto, Apple Carplay, Heated front seats, and Nissan Connect compatibility all come standard. Stretch out in style, with comfort and plenty of space for 7 or 8. With an interior that includes available second row captain’s chairs and the coziness of Tri-Zone Automatic Temperature Control, you might never want to go outside. Everything you could want at Basecamp is at your fingertips with comfort and convenience in mind. Get unobstructed views from all seats of the sun and stars with a panoramic sunroof, keep the peace with three separate climate zones, heat or cool from a distance with the remote engine start system, and get year round comfort with heated or cooled seats and optional heated steering wheel. Whatever the adventure, you’ve got the space. It’s all about putting the utility in SUV. Pathfinder excels with a cavernous, user-friendly cargo area. It’s the only vehicle in its class that can fit a 4’ x 8’ sheet flat on the floor.

Connectivity

The new Pathfinder seamlessly connect you to everything you need on the road. It may not be your turn to choose the playlist, but with Pathfinder, you can always control what information you see and how you see it. Just tap to watch your drive unfold on three separate displays. On a 12” widescreen digital dashboard with customizable gauges, mapping, information and driving aids. On a heads ups display projected on the windshield, with essential information like speed and next-turn directions. And on a large, easy to see, 9” touch screen center console display. Stay connected with the outside world through the Pathfinders Wifi hotspot and keep devices ready with wireless phone charging, wireless Apple Carplay integration, and Android Auto.

Safety and Driver Assist

The Pathfinder comes packed with safety features. Advanced driver assist will help you destress your commute by automatically adjusting your speed to match the flow of traffic and help keep you centered in your lane. Standard in all pathfinders are the safety shield 360 features which help keep you and your passenger’s safe. These include Intelligent Emergency Braking with Pedestrian Detection, Rear Automatic Braking, Blind Spot Warning, Rear Cross Traffic Alert, Lane Departure Warning, and High Beam Assist. Other advanced safety features include 10 standard air bags, anti-lock braking system, vehicle dynamic control, electronic brake force distribution system, traction control system, crumple zone construction, tire pressure monitoring, and a child safety seat fit guide.