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Should I Buy or Lease My Next Automobile?

Tiny car with coins and finance paperwork

 

“Should I buy or lease?” That question comes up often among Sartell drivers who are ready to move on to a new car. That means you’re not alone if you’re having your own leasing vs. buying debate. Fortunately, our friendly finance center has helped numerous customers decide which is best for them. Read the guide below to help you decide. 

Should I Buy or Lease?

If you’re trying to decide whether to purchase your next car or take advantage of a Mazda lease deal, the first thing you should do is to calculate how much you can pay upfront and how big of a monthly payment you can afford. Next, talk to our finance department. When a customer asks us, “Should I buy or lease?”, we’ll sit down with them and go over what their financial needs are. Generally, leasing saves you money up front, while buying may save you in the long run. 

Leasing vs. Buying – Reasons to Buy

  • No Mileage Restrictions: Buying may be right for you if you do a lot of traveling outside the Sauk Rapids area.
  • Total Ownership: You have equity in your car because you own it.
  • Customization: There are no restrictions on how you customize a car that you own.
  • Ability to Sell: You can sell your vehicle whenever you choose.
  • Financing Options: Financing is usually easier and more accessible when buying.
  • Less Cost Over Time: Buying a used car and paying it off fairly quickly can cost less over time than leasing a new car.

Leasing vs. Buying – Reasons to Lease

  • Lower Payments: This is probably the advantage of vehicle lease vs. buying that is attractive to the most drivers.
  • Lower Sales Tax: In MN, you only pay sales tax on your monthly payment, not the total value of the car.
  • Trade-Ins: It’s easy to swap your car at the end of your lease for a new one.
  • Great Coverage: Leased automobiles are covered by warranty as long as you stay under the mileage limit.
  • Options: Because you’ll be in a brand-new vehicle every couple of years, you’ll always have the latest feature options at your disposal. 

Let the Finance Department at Eich Mazda of Saint Cloud Help

Our finance department would be happy to walk you through all of your buying and leasing options so that you can make an informed choice about which is best for your circumstances. We make the process so easy that you can even get pre-approved for financing online. We’re just down the road from Saint Joseph. So, drop by or contact us today.

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Eich Mazda 45.5544619, -94.1806881.