If you're looking for a new Mazda, you might still be up in the air about whether or not you will decide to purchase your new car...so we thought we'd weigh some pros and cons on buying and leasing to get you going.
When you lease a vehicle, you have less to worry about and pay for in regards to maintaining it. You’ll also be driving the newest model available at the time of the lease, and you can do that continuously. Finally, you don’t ever absorb the full depreciation costs of the car, but only for the length of your lease.
When you finance a vehicle, you own it, and after some time you will no longer have to make payments on it. You don’t have to worry about any penalties and your insurance is less limited, and you are also able to build equity based on your vehicle’s depreciation rate.
Both buying and leasing have their disadvantages as well, such as paying back interest when a car is purchased, or higher insurance costs for a leased vehicle. The fact of the matter is that there are an endless number of factors to consider when deciding between financing or leasing, so outlining both the benefits and disadvantages in terms of priority can be of benefit when making your decision.
Parks Mazda is glad to help answer any questions you have on purchasing your next vehicle. Feel free to contact us or simply stop by!
