Often when people think about getting a new car, they think, “Should I buy or should I lease?” And then, the spiral of questioning begins. They wonder about the benefits of leasing a vehicle vs buying outright, they wonder which option best suits their lifestyle, and so on.
To help anyone weighing the “purchasing vs leasing” decision, check out these frequently asked questions on the benefits and differences between buying outright and leasing.
What are the major differences between purchasing vs leasing a vehicle?
- Cost. Buying a new Mazda outright may be more expensive in the short term but it is more cost effective in the long term. If you are unable to buy outright but don’t want to lease, then consider a short term loan. You will pay more as you pay off your Mazda, but once the loan is paid in full, you’ll be the lawful owner of your beloved Mazda.
- Freedom. When you own what you drive you are free of mileage restrictions, termination fees, and other lease terms that can result in costly fees if they are violated.
Why should I buy instead of lease?
- You drive long distances. If you drive long distances, then leasing probably doesn’t make much sense. Leases always include some form of mileage restriction and costly fees can add up if you are ever in violation of the mileage restriction outlined in your lease agreement. If you choose to lease, then be sure to clarify the mileage restrictions with your Mazda Leasing Specialist.
- You want to modify your vehicle. With a leased vehicle, what you see is what you get and if you alter its appearance, it’s going to cost you. If you want to make vehicle modifications, then buy outright.
- You have kids or pets. Let’s face it, young kids and furry friends can make some pretty terrific messes, and if they make these messes in a leased vehicle, then some pretty terrific wear and tear fees can result. If you’re going to be traveling regularly with small children or pets, then it may be in your best interest to buy, this way you’ll avoid those potentially costly wear and tear fees all together.
Why should I lease instead of buy?
- You want low monthly payments. Leased vehicles are more affordable in the short term because they offer lower monthly payments than short term loans.
- You like driving new cars. Leasing allows you to drive a new car every few years, which means you’re always surrounded by the newest technologies and safety features, and enjoying the latest infotainment amenities.
What happens at the end of a lease?
At least a month prior to lease end, Dublin Mazda customers are asked to visit the Mazda Lease Return Center for a free lease consultation, wherein they’ll discuss their lease ending options with a Mazda Lease Return Specialist. During this consultation you can ask all the questions you have about what to do at lease end. For example, some customers choose to buy their leased vehicle, some choose to trade up to the new model year, and some choose to try something else. To figure out what’s the right course of action for you, meet with a Dublin Mazda Lease Specialist.
For more information on buying vs leasing, call or stop by our Dublin Mazda dealership located in Dublin California. A member of our sales team will happily discuss the Mazda lease process in greater detail and set you up with a test drive of some of your favorite new Mazda models. Want information without the visit? Learn more about your ending lease, here.
See you in the showroom!