Disclaimers

Honda, Lincoln, Nissan logo
Krenzen Logo
Map 2500 Mall Drive, Duluth, MN (218) 727-2905
  • New
    • View all [201]
    • Nissan
      Nissan [105]
        • Altima
          Altima [2]
          from $29,297
        • Armada
          Armada [3]
          from $67,729
        • Frontier
          Frontier [5]
          from $36,322
        • Kicks
          Kicks [11]
          from $26,780
        • Murano
          Murano [13]
          from $41,553
        • Pathfinder
          Pathfinder [20]
          from $38,805
      • Murano
        Murano [13]
        from $41,553
      • Pathfinder
        Pathfinder [20]
        from $38,805
      • Rogue
        Rogue [51]
        from $31,850
    • Honda
      Honda [94]
        • Accord
          Accord [2]
          from $28,300
        • Accord Hybrid
          Accord Hybrid [2]
          from $36,925
        • Civic
          Civic [7]
          from $27,400
        • Civic Hybrid
          Civic Hybrid [1]
          from $30,555
        • CR-V
          CR-V [10]
          from $35,245
        • CR-V Hybrid
          CR-V Hybrid [16]
          from $37,545
        • HR-V
          HR-V [23]
          from $28,250
        • Odyssey
          Odyssey [1]
          from $43,670
      • HR-V
        HR-V [23]
        from $28,250
      • Odyssey
        Odyssey [1]
        from $43,670
      • Passport
        Passport [7]
        from $47,355
      • Pilot
        Pilot [10]
        from $47,050
      • Prologue
        Prologue [3]
        from $56,150
      • Ridgeline
        Ridgeline [12]
        from $42,000
    • Lincoln
      Lincoln [2]
        • Corsair
          Corsair [1]
          from $59,270
        • Nautilus
          Nautilus [1]
          from $68,455
      • Nautilus
        Nautilus [1]
        from $68,455
    • Shopping Tools
        • Model Showroom
        • Motocompacto
      • Motocompacto
  • Pre-Owned
    • View all [90]
    • Cars [19]
    • Trucks [13]
    • SUVs & Crossovers [56]
    • Vans [2]
    • Hybrid & Electric [1]
    Price
    • Under $10,000
    • $10,000 - $15,000
    • $15,000 - $20,000
    • $20,000 - $25,000
    • Over $25,000
    Features
    • Pre-Owned Inventory Specials
    • Nearly new
    • Over 30 MPG
    • Convertible
    • Moonroof
    • Leather seats
    • Heated seats
  • Specials
    • Lease and Finance Offers
    • Service Specials
    • Pre-Owned Inventory Specials
  • Research
    • Honda Vehicles
      • 2025 Honda Pilot
      • 2025 Honda Civic Sedan
      • 2025 Honda CR-V Hybrid
      • 2025 Honda Ridgeline
      • 2025 Honda Prologue
    • Lincoln Vehicles
    • Nissan Vehicles
      • 2025 Nissan Rogue
      • 2025 Nissan Kicks
      • 2025 Nissan Murano
      • 2025 Nissan Pathfinder®
  • Finance
    • Online Credit Approval
  • Service
    • Our Services
    • Schedule Service
    • Order Parts
    • Service Specials
  • About Us
    • Our Dealership
    • Testimonials
    • Contact Us
    • Our Team
    • Careers
    • Our Blog
  • Leasing and Buying
Home / Leasing and Buying

Should I buy or lease my next car?

This the question most of us have running through our minds when shopping for our next vehicle. So many offers are advertised but never provide enough information to help in your decision besides having a lower monthly payment. Krenzen philosophy for 46 years is to sell and lease vehicles in a simple, straight forward, and stress free manner, the way car buying should be...

Here are some comparisons to consider in your decision process.

Ownership

Leasing: You get to use the vehicle for usually 36 months with designated miles which can be driven during the term of the lease. You do not own the vehicle. At the end of the lease, you will need to return it and have the choice to buying or replacing it with another vehicle.

Buying: You own the vehicle. Choice is yours to pay for it all at once or take out a loan and make payments to the lender of your choice.


Up Front Costs

Leasing: The only required upfront costs are your first payment, license fees, and applicable taxes. It’s your choice either pay this upfront or include it in your monthly payment.

Buying: No required upfront costs. It’s your choice to put as little down as you want including the license fees and applicable taxes.


Monthly Payments

Leasing: Lease payments are usually lower than loan payments because you are only paying for the vehicle’s depreciation and the amount of use of the vehicle.

Buying: Monthly payments are usually higher because you are paying for the entire car. You may be able to finance the vehicle for 72 months or more.


Mileage

Leasing: You choose the amount of miles you want as little as 10,000 miles or as many as 30,000 miles per year. You will likely pay extra charges for exceeding your chosen mileage limits.

Buying: There are no mileage limits for your vehicle. Usually, the higher mileage will affect the resale of your vehicle.


Future Value

Leasing: At lease signing, you have a guaranteed value, the residual value, at the lease end which is on the lease agreement. The risk of future value lies with the leasing company.

Buying: You have the risk of the vehicle’s market value when you decide to sell or trade.


Early Termination

Leasing: You may terminate your lease at any time and walk away. However, you are responsible for all the remaining payments and early termination fees. You can choose to purchase your vehicle at any time as well.

Buying: You may trade or sell your vehicle at any time. If financed, you are responsible to pay off the existing loan balance.


End of Term

Leasing: You can either decide to lease another vehicle, buy your current vehicle, or turn it in and walk away. You may be responsible for excessive wear and tear charges. Buying: At the end of the loan term, you have no further payments.

Buying: At the end of the loan term, you have no further payments.


Excessive Wear & Tear

Leasing: There is a limit to wear of the vehicle. This included dents, scratches, glass breakage, or items needing repair such as tires. Typically, your vehicle will be evaluated by an independent company to determine if any additional charges may exist.

Buying: There is no limit to the wear of your vehicle. The condition of your vehicle will determine its market or resale value.


2500 Mall Drive, Duluth, MN 55811
Get Directions

Parts & Service: (218) 727-2905 | Hours
Sales Department: (218) 727-2905 | Hours
New Inventory
Pre-Owned Inventory
Online Financing
Schedule Service
Schedule Test Drive

Next-Generation Engine 6 Custom Dealer Website powered by DealerFire.  Part of the DealerSocket portfolio of advanced automotive technology products.
Copyright © Krenzen     
Privacy  |  Sitemap