Should I Buy or Lease?

For Rocky Mount drivers looking to get behind the wheel of a new vehicle, knowing the differences between a lease vs. buying can be helpful. The answer is finding out what works best for you in terms of buying and leasing can be as simple as thinking about your needs, what you can afford, and what you want. Take a look at the benefits that come along with financing and leasing, so you know which is right for you when you come and visit us at the Medlin Mazda finance center and ask “should I buy or lease?”

Benefits of Buying

Some of the main benefits of buying a new vehicle, as opposed to leasing one, include being able to customize it to your heart’s content as well as having the ability to sell it whenever you want. In addition to these, you can benefit from:

• No Mileage Restrictions: If you’re driving your vehicle often to and from the Wake Forest area and beyond, you may want to consider buying. Without the mileage limits you get on a leased vehicle, you’re free to drive as much as you want.

• Total Ownership: Buying a vehicle means it’s yours completely. This means you are free to do with the vehicle what you please. There are no restrictions on how it’s modified, decorated, etc.

• Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward, and generally open to those without perfect, or great, credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.

• Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work towards paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.

Benefits of Leasing

Leasing can best benefit those who like to have plenty of options. You can find the newest models with the updated technology to find the model that’s right for you. You also have a better chance of being approved for a lease. If you have bad credit, a car loan may be difficult to obtain, but a lease option may be available. In addition to these, you can also find:

• Lower Payments: Whether it’s monthly payments or down payments, when you lease a vehicle those costs will be much lower than buying.

• Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.

• Trade-Ins: When your lease agreement is over, the process of getting your next leased vehicle is simple. Head to your local Wilson dealership, pay any remaining fees, and drive away in your next vehicle of choice.

• Great Coverage: Warranty coverage and maintenance is a breeze when leasing, as any issue that pops up under your warranty, as long as you don’t go over the mileage limit, is covered.

Explore Leasing and Financing Options at Medlin Mazda

No matter if you choose when it comes to a lease vs. buying, remember the decision is based on your personal needs as well as your financial situation. Explore your options with the Medlin Mazda finance center today! We can help you find the right financing or leasing options for you. Also, be sure to browse our lease and finance specials to help you save even more and learn about guaranteed car financing for more options. If you have any questions about our models, services, want to compare models like the Mazda3 vs. Mazda6, learn about the Mazda CX-30 price, about financing with a bank or dealership, about good mileage on a used car, how to trade in a car, or even how to get mold out of your car, feel free to contact us today and see if you prequalify for credit!