Car leasing, an alternative to owning a new vehicle

Buying a car can be a headache. The two main ways to buy it are by paying cash or obtaining financing from a bank or auto finance company.

An auto loan, like any other loan from a financial institution, involves paying interest and fees, so you end up paying a much higher amount than the cash price.

Several other ways to acquire a car have become more popular, including leasing, which is essentially a long-term rental of a vehicle. In 2023, leasing companies purchased 57,782 new vehicles, 9% more than in 2022, demonstrating an upward trend in the market for this form of automotive financing.

How does car leasing work?

According to the National Commission for the Protection and Defense of Financial Services Users (Condusef), it is a type of financing where the user accesses the car without being the legal owner and pays a rental amount to the leasing company.

Naturally, the deal is made official through a contract with a specific term from the outset, which stipulates, in addition to monthly payments, ownership, license plate, commissions, and car insurance.

Other expenses, such as inspections or fines, are the user's responsibility, and depending on the agreement reached, users will be entitled to a certain number of maintenance services already included.

At the end of the lease, there are several options: the renter can choose to purchase the vehicle by paying a residual amount; they can terminate the lease; or they can renew the lease with the same vehicle or a new one.

Experts say car leasing is an option only for those looking to change vehicles frequently, those who don't want the responsibilities and risks of owning a car, or those with business activities who need a vehicle and are looking for tax deductions.

As a financing mechanism, leasing companies must be duly registered with Condusef and have an adhesion contract with the Federal Consumer Protection Agency (Profeco).

How much does it cost resort to leasing?

Whether you go directly to a dealership or a car rental company, the amount to be paid must be stipulated and itemized in the contract. In both options, you pay the insurance and an initial payment.

According to a Bitcar quote for a 2025 Nissan March, mid-spec, with a 36-month term, the car owner would have to make an initial payment of 37,313 pesos for contracting costs, delivery procedures, and deposit fees.

Additionally, the monthly vehicle rental would be 9,491 pesos, which includes auto and personal insurance with Seguros Atlas. At the end of the 36 months, the total payment would be 378,989 pesos.

For this option, you'll need proof of income, proof of address, official identification, and proof of tax status if you're employed. If you're self-employed, you'll need to submit your most recent tax return and bank statements for the last four months.

To lease that same vehicle directly from Nissan, an initial payment of 75,047 pesos would be required for the security deposit and additional rent. The monthly payment would be 5,047 pesos for the first 12 months and 6,448 pesos for the remainder of the contract, which would cover the insurance. A total of 290,363 pesos would be due at the end of the contract. However, there is a limit of 30,000 kilometers per year, with a charge of two pesos for each additional kilometer.

The requirements directly with Nissan are a lease application, proof of address, pay stubs from the last month, or bank statements from the last three months.

Recommendations to avoid over-indebtedness

Financial education experts recommend assessing monthly payment capabilities to ensure that all debts are covered by a limit of 30% of monthly income.

Compare the market options for auto loans or auto financing to decide which option best suits your needs and expectations.