Should I Buy or Lease a Vehicle?

If you’re in the market for a new ride, you might be wondering whether leasing vs. buying is best for your needs. “Should I buy or lease?” is a common question that the team at Town North Mazda gets from Richardson drivers. When comparing leasing vs. buying, it depends on your situation and goals. Keep reading to learn more about leasing vs. buying, and contact our finance team with any questions.

Leasing vs. Buying: Long and Short-Term Costs

• Leasing offers usually offers lower monthly payments. It will also save you on taxes and your down payment. Plus, if you start a new lease every few years, your monthly payment won’t likely change much over the years, and you won’t have to worry about escalating service or repair costs.
• Financing allows you to eliminate your monthly payment completely, eventually. If this is your goal, buying a used vehicle is often more affordable than leasing a new car. Plano drivers who pay off their financed vehicle will spend less in the long run than a driver who continues to lease year after year, but repair costs will probably increase as your vehicle ages.

Most drivers around McKinney keep their vehicles for an average of three years and want to enjoy the latest amenities in their ride. If you can relate, you’ll probably find leasing a better choice.

Leasing vs. Buying: Mileage Restrictions

When asking yourself, “Should I buy or lease?” consider how many miles you usually drive per year.

• Those who finance their new Mazda with the intent to pay it off will have full ownership will not need to worry about mileage restrictions.
• Those who lease their car will have to stay within certain mileage limits or pay a fee when their lease term ends.

Those who commute only a short distance around Dallas will find a lease suitable for their needs. But, those who love long road trips should avoid leasing.

Leasing vs. Buying: Customization

• When you buy your vehicle, you can add whatever accessories you desire and change the paint color. You can also modify and customize it with custom parts, although, be careful not to void your warranty.
• When you lease, you must keep the vehicle as close to factory condition as possible because the dealership still owns it.

Leasing vs. Buying: Freedom and Choices

• Financing offers more flexibility. When buying vs. leasing, you can sell or trade in your vehicle at any time. You also have the option to refinance for a lower rate. Plus, the car is yours to keep for as long as you want.
• Leasing is easy and convenient. All you have to do is take good care of your Mazda while it’s in your possession. Then, drive it back to our lease return center at Town North Mazda at the end of your lease term, and get the keys to your new vehicle. Lastly, you always have the option to buy out the lease and keep your leased vehicle.

Explore Your Leasing and Financing Options at Town North Mazda

If you’re ready to get the process started, check out our current leasing and financing specials. You can then apply for financing online. Contact us via chat, phone, or email, or just head into the dealership. We’re here for you!