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Should I Buy or Lease?

car salesman assisting woman in vehicle

Are you looking to get behind the wheel of a new Mazda? If so, it’s important to compare lease vs. buying options. While there’s no one-size-fits-all solution, both options have their advantages for every lifestyle and budget. Learn more about both to see if you should buy or lease your next vehicle from Eich Mazda. Check out our quick guide from the finance team at Eich Mazda near Sauk Rapids, then take a look at our online inventory to find the perfect car, crossover, or SUV for your daily drives. 

Benefits of Buying

When considering leasing vs. buying, there are dozens of factors to consider. Drivers in Saint Joseph who drive daily or often take long trips, buying will be a better option for you. What’s more? Take a look at a few of the benefits of buying your next vehicle:

  • No Mileage Restrictions — A leased vehicle can’t be driven over a set mileage amount. That’s fine if you drive mostly short and moderate distances around Sartell, but will be an issue if you often travel between cities.
  • Freedom to Customize — Owning the vehicle means you can add on additional accessories or packages to express your personal style. By contrast, custom options are limited for leased vehicles.
  • Sell Anytime — Owning your vehicle means you’re free to sell anytime you wish, without waiting for a lease term to end.
  • Bad Credit Financing — Drivers with less-than-perfect credit scores have more options when it comes to financing. Buying gives you the option to refinance your loan to get lower interest rates and lower monthly payments. 
  • Save Money Over Time — While buying may cost you more upfront, you save money over the course of your loan as you make progress paying it off. In fact, your car becomes less expensive the longer you own it.

Benefits of Leasing

The biggest benefit of leasing its lower up-front cost and monthly payments. When you lease vs. buying a vehicle, you’re more likely to be approved for credit, and your payments will be lower than if you were buying. Other leasing benefits include:

  • Lower Upfront Payments — Not only will you pay less per month when leasing vs. buying, your overall expenditure will be substantially lower.
  • Lower Sales Tax Rates — In most states, the tax rates for leasing a vehicle are far lower than if you buy. Some states only tax your down payment and monthly payments.
  • Trade-In and Trade-Up — Trading in your leased vehicle at the end of your lease term is easy. Simply bring your car to the dealership you leased from, and you’ll drive home to Saint Joseph in your next Mazda lease.
  • Save On Your Next Lease — Trading in a leased vehicle will save you money on your next lease. Value your trade with Eich Mazda to see how much you can save!
  • Excellent Warranty Coverage — Just like with buying, comprehensive warranty coverage comes standard with your new Mazda.
  • Upgrade to New Tech — Leasing lets drivers choose from a new vehicle every few years. This means taking home exciting new infotainment and safety technology features as soon as they’re available.
  • Bad Credit Lease — Leases are less of a long-term financial commitment and are also possible for drivers with damaged credit.

Explore Leasing vs. Buying Options with Our Finance Team!

Are you still wanting to compare leasing vs. buying with our team? Of course, our experts at Eich Mazda in Saint Cloud is ready to work out a plan personalized just for you. Don’t hesitate to contact us online today with any questions you may have about comparing buying vs. leasing.

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Eich Mazda 45.5544619, -94.1806881.