MAZDA Leasing vs. Financing
There are lots of decisions to make when it comes to buying a new vehicle. One major decision you have to weigh is whether you would rather finance a new car or secure a Mazda lease. We’re highlighting both options at Route 9 Mazda to help you decide which route is right for you.
Approval Process
When it comes to getting approved for auto financing or a new lease, the processes are similar. You’ll have to fill out an application (online or in-person) with your buying criteria. Then, that information gets submitted to our lenders to find a lease or loan with terms that work for you.
Monthly Payments
Typically, lease payments are lower than financing payments, which is one of the perks of a car lease. This is because you are only paying for the depreciation of the vehicle during your lease. Financing, on the other hand, covers the vehicle’s total cost. Our virtual Mazda payment calculator is a quick way for you to get an estimate of your monthly loan payment.
Lease Benefits
The lower payment isn’t the only perk to leasing a car. When you lease a car, you are essentially paying to borrow it for a predetermined term (typically two to three years). Then, you’ll return the vehicle at the end of your lease. This is a convenient way for shoppers to continuously upgrade their vehicle every few years to the latest designs and technology, while avoiding the hassle of selling their current model.
Financing Benefits
When you lease a car, you will eventually have to return it. However, when financing new Mazda models, you are working towards ownership. With each payment you make, you are building up equity in your purchase. Plus, you’ll eventually own it outright and can use it as a trade-in, if you’d like, down the road. Financing doesn’t have the restrictions that a lease does either, which includes mileage and customization limitations.
Get Approved for a MAZDA Lease at Route 9 MAZDA
Do you still have questions about the auto financing or leasing process? Our financial experts are happy to help! Visit our Mazda dealership in Poughkeepsie, NY to discuss your options with our team today!
