If you’re looking to buy a new Mazda for your commute to Temecula, you may be considering whether you should buy or lease your next vehicle. “Should I buy or lease?” is a common question many drivers ask themselves when they shop for a new car. There are advantages and disadvantages to both leasing and buying, but your finances and your personal preferences will determine which option is right for you. Learn the differences between lease vs. buying with Hello Mazda of Temecula below, or contact our finance team if you have any questions about the car-buying or leasing process.
When you lease a new Mazda, you’re agreeing to “rent” the vehicle from the dealership until the end of your lease term. When you purchase a new Mazda – also known as financing – you take out a loan and make monthly payments until the loan is paid off in full, giving you full ownership of the vehicle. Depending on whether you lease vs buy, the short-term and long-term costs of ownership will vary. Read more about buying and leasing costs below:
How long you plan to own your vehicle will be one of the deciding factors of whether you should buy or lease a new Mazda model. If you only need a vehicle for a couple of years or if you want to trade-in your vehicle every few years to enjoy the latest technology, then leasing may be the better option for you. However, if you plan to own your vehicle for four or more years, then financing would be most cost-effective and convenient.
Drivers who commute a short distance to work in Temecula and use their Mazda to travel around town won’t have an issue with leasing mileage limits. However, if you want to customize your car, or you drive long distances often, you’ll find that financing better fits your needs.
Both leasing and financing come with a contract. When you finance a vehicle and eventually pay it off, your contract with the lender ends. If you prefer to lease your vehicles though, you’ll always have to adhere to a leasing contract. Violating or breaking a contract when you finance or lease a vehicle can lead to fees or fines. Read more about this below:
The simplicity of leasing is a big incentive for drivers who want to avoid the hassles of car ownership. However, if you’re comfortable maintaining and reselling a vehicle, the money you get for trading in a purchased vehicle could help to offset a future car purchase.
Now that you’re more familiar with the differences between buying and leasing, browse the new and pre-owned vehicle inventory at Hello Mazda of Temecula to find your next Mazda vehicle. When you’re ready, you can browse our new vehicle specials for savings on your purchase and contact our team to begin the leasing or financing process. Visit our Temecula showroom today, we look forward to putting you behind the wheel of a new Mazda!
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