Getting into a fresh set of wheels is one of the most exciting feelings in the world! How you do it, though, is totally up to you. Two of the more popular options for drivers in Metairie, Harvey, and New Orleans, LA, are leasing and buying.
If you’re unsure of which option to choose, Paretti Mazda put together this leasing vs. buying guide to point out the benefits of both. Let’s get started.
Leasing is a surefire way to get behind the wheel of one of the latest model-year vehicles. This method is, in essence, a rental agreement between you and the dealership in which you’ll drive a new car for a few years for a certain number of miles per year and then return it when the agreement runs out.
One of the biggest reasons leasing is attractive to many drivers is that it’s often less of a financial undertaking than financing or buying. You likely won’t have to put down a sizeable down payment, and your monthly payments should be less. However, this depends on the type of car you’re driving.
Even though the idea is that you’d return the lease to the dealership eventually, you can finance or buy it out at any time! This is especially advantageous to drivers who’ve exceeded the mileage limit, as you wouldn’t have to pay a penalty.
Many drivers dream of one day owning their car, and buying is a great way to do that. Buying means you can either pay the total of the vehicle upfront and you won’t have a monthly payment, or you can work out a payment plan with our finance team. Should you choose the latter, you’ll own the car once you complete the payment cycle.
Buying offers some different benefits that may be fruitful for many drivers. For example, you’ll own the car outright once you complete your payment cycle. This means you can customize it any way you want or turn around and sell it! Speaking of selling, buying allows you to build equity, meaning the car’s resale value should remain high as long as it’s in good condition.
Keep in mind that if you plan on buying your car, make sure you’re going to be comfortable driving it for a long time.
When it comes to buying or leasing your next 4-wheeled companion, the choice is entirely yours! If you’re someone who likes the idea of driving a new car every couple of years at a lower monthly payment, leasing would be the way to go. If eventually you don’t want a car payment and are content with what you’re driving, it would be a great idea to buy.
Working with our Mazda dealership affords you the chance to speak to knowledgeable sales and finance teams about these options. Rest assured that they’re here to point you in the right direction.
At Paretti Mazda, we have the resources to help our friends and family in Metairie, Harvey, and New Orleans, Louisiana, lease or buy their next set of wheels. Contact us today to talk to a finance team member about your options!
