Buying vs. Leasing Your Mazda
When you are looking to choose a new Mazda, you must first choose whether you want to buy or lease your vehicle. At Town North Mazda, we advise our customers that each have their pros and cons, and the decision should be made based on your unique situation and plans.
Buying a Mazda
Most likely, if you want to purchase your Mazda, you’ll take out an auto loan to pay for it. We’ll be sure to help you find the best terms for the loan through the multiple financial institutions we work with. Chances are, you’ll need to put some money down for the loan. Your monthly payment will be calculated to pay off the entire value of the car plus interest in a certain number of years. This will probably be a higher payment than what you’d have if you leased the vehicle.
Buying a Mazda is a good choice if you have a long commute or enjoy long road trips. Lease terms often include mileage limits that make these situations tricky for those who lease. Plus, if you hope to one day drive your vehicle payment free, buying is a great option since you’ll get to drive the vehicle as long as you like after your loan term is up.
Leasing a Mazda
Think of leasing like renting a vehicle for a defined period of time. You will sign lease terms and pay a certain monthly payment each month that covers the car’s depreciation while you’re driving it. This amount is usually lower than if you’d bought the car. At the end of the lease term, you’ll return the vehicle to the dealer.
Leasing a Mazda is a good idea if you want a newer, nicer car at a lower monthly payment or if you don’t have a lot of money to put towards a down payment. Maintenance costs will also be covered under the lease. This is also a great idea if you like to drive the newest vehicle every few years.