Determine if Buying or Leasing a New Mazda is Right for You

 

One question that constantly gets asked here in our showroom is what's the difference between buying and leasing? It always a good one to ask because you might find buying or leasing might be right for you, depending on your circumstances, and we want you to be able to find out which course of action you should take after understanding the difference.

When you decide to buy your new vehicles, you're agreeing that you will pay off the agreed upon price through financing with your monthly payment, which is calculated in many ways depending on how much of a down payment you put on the vehicle, and other factors. Once all your monthly payments and money owed on the vehicle have been paid off, you no longer owe any money on the vehicle, and don't have a car payment. When you buy a vehicle, you also don't have to worry about mileage and wear and use restrictions that leased vehicles must adhere to, which is why we say for people who know when they buy a vehicle they drive it for years, or put plenty of miles on it each year because of a commute or long trips, buying is a standout choice.

When it comes to leasing, you're still making a monthly payment, but it's in a term limit, which is usually 36 months. Over that period you pay the percentage of the vehicle's overall worth, and have to ensure you're properly caring for it with mileage, and wear and use - the latter of which you will have warranty coverage and can visit our service department. Once the lease terms are finished you have options. You can either enter a new lease for a brand-new vehicle, purchase your current vehicle at its remaining residual value, or you can walk away from the lease. That's why leasing is great for people who have normal driving habits, and like flexibility to upgrade after a three-year period.

You can learn a lot more about buying versus leasing, as our finance team is always happy to help you see the advantages to both. To learn more, contact us online or stop in and see us today!

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