Mazda Lease vs Buying

Buying v. Leasing

When you purchase a new Mazda vehicle, you have the option to purchase it outright or lease it. You may not be sure which choice is the better deal, but there’s no right or wrong answer. The choice you make depends on your plans for your new Mazda and what works best for you. Compare the two options to determine which is right for your next set of wheels.

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Buying a Mazda

When you choose to buy a Mazda vehicle, you become the owner. Even if you’re financing, your name is still on the title. Of course, you must make your payments on time, or a finance company can take the vehicle until it’s paid for.

Costs and Value of Buying

You may need to come up with a down payment for your vehicle if you finance it. You might be able to use your current vehicle as a trade-in. Either way, the money will go towards the cost of the vehicle you are buying. How much you have to put down often depends on the cost of the vehicle and your credit score.

When you buy the vehicle, you get the future value if you trade it in or sell it in the future. The better you maintain the vehicle, the higher the value will be. Once you pay off the loan, the vehicle is yours.

Leasing a Mazda

When you lease a vehicle, the finance company leasing it is still the owner. You get to drive it, but you don’t own it. This means there may be restrictions placed on the vehicle, such as how many miles you can drive in a year.

Costs and Value of Leasing

You may not have to come up with a down payment for a leased vehicle. The only upfront cost is often the first month’s payment, along with taxes and a security deposit. The more you pay at the time, the lower your payments will be.

You don’t own the vehicle, so you can’t sell it and have no ownership in the value of the car. You could be required to pay more if you go over the mileage restrictions or have excessive wear and tear.

Once you have completed the lease term, you generally have two options. You can either buy it outright or return it and buy or lease another vehicle.

There is no right answer on which option is best, only what works best for each customer. If you drive a lot, leasing may not be the best choice. However, if you don’t put a lot of miles on your vehicle and like to trade it in often, leasing may be the ideal situation.

You can talk to the finance department at Bob Moore Mazda if you have questions about leasing or buying. We will be glad to sit down with you and explain everything and even show you potential payments based on the model you are interested in. Our goal is to make driving a Mazda easy and fun, whether you choose to lease or buy.