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Have you started looking for a new car to take you from place to place around Willow Grove, Willow Manor, and Glenside, PA? Then you probably know that there are other decisions you’ll have to make beyond just choosing the type of car you want.
You’ll also have to determine if you’d like to lease your new car or buy it. While there isn’t a one-size-fits-all plan when it comes to paying for a car, there are some key factors that can help you decide which route is personally the best for you. Below, our Mazda of Abington team breaks down the choice between leasing vs. financing, so you can see what you gain with each option.
When you lease your vehicle, there are some benefits you’ll get to enjoy. Starting with the financial impact of your investment, a lease lets you enjoy a lower monthly payment and less up-front costs. That’s because with a lease you’re just paying for the depreciation of the car during the time you drive it instead of the entire listed price of the vehicle.
Also, you’ll be able to drive a new car every few years when leasing. Once your lease comes to an end, you just simply bring your vehicle back to us and we can help get you into another new Mazda. This lets you enjoy all the latest technology features that have been added to that model.
Life can also change pretty fast. Within those few years, your personal needs for your vehicle may change. Luckily with a lease you’ll be able to switch models to something larger with more passenger space after your first lease comes to an end.
Although buying a car usually results in higher monthly costs and a bigger down payment, those payments eventually stop one day. That’s because each of your payments is going toward paying off your loan. When it’s fully paid off, you no longer will have monthly car expenses, but can keep driving your car for as long as you’d like. You can even sell your car at that point and use those earnings to get a new car.
You also get the freedom to do whatever you’d like to do to your car since you own it. You can add accessories to its exterior or interior to customize your vehicle. You won’t have to keep aware of how many miles you’re driving, either, unlike a lease, which has a mileage limit.
As you can see, each option has its own unique benefits. The choice between leasing vs. financing will come down to what personally makes the most sense for you. If you want the short-term commitment so you can change cars every couple years, you’ll want to lease your car.
If you have a far commute to work or take long road trips during the summer, the freedom to drive for as many miles as you want comes with buying a car. Either way, our team here at Mazda of Abington can help drivers in Willow Grove, Willow Manor, and Glenside, Pennsylvania, get a personalized payment plan for their new car.
Contact us today to learn more about our finance options and get a closer look at our inventory of new Mazda vehicles you can buy or lease!