Buying vs. Leasing Your New Mazda
When you come to Gem Mazda for your new vehicle, you’ll have the choice of buying or leasing. Both options have pros and cons that we are happy to discuss with you in detail in person. The answer to which is right for you depends entirely on your needs, budget, and buying habits. Here are a few basics to consider when thinking about how to best finance your next Mazda.
Buying a Vehicle
If you decide to buy your new Mazda and don’t have the cash on hand to pay for it outright, you will take out an auto loan. We’ll help you find the best rate at our dealership through our relationships with lenders. You’ll most likely need to put some money down and will have a monthly payment calculated to pay off the car in a certain number of years. Oftentimes, this payment is higher than if you’d chosen to lease the car.
Buying your vehicle is a good idea if you do a lot of driving, since lease terms usually include mileage limits. It’s also a great choice if you like to customize your vehicle since the vehicle will be yours to change however you see fit. You’ll want to buy your vehicle if you have hopes of driving payment free at some point since the vehicle will be yours as long as you want it after the loan is paid off.
Leasing a Vehicle
Leasing a vehicle is essentially renting the Mazda for a period of time. You will sign lease terms and pay a certain amount each month, usually lower than you would if you’d bought the car. At the end of the lease term, you will return the vehicle to the dealership, although sometimes you do have the option to buy at the end of your lease.
Leasing your vehicle is a good idea if you want a new car at a lower price or don’t have a lot of money for a down payment. Plus, if you always like to have a new vehicle every few years, leasing is a excellent way to do that without having to trade in or sell your vehicle every time you want a new ride.