Should I Buy or Lease?

When you’re looking for a new car, crossover, or SUV in the West Columbia-area, it can be difficult to decide what the right financial path is to take. You’re likely wondering, “should I buy or lease my next vehicle?” Our finance team at Mazda of Columbia will help you learn the difference between lease vs. buying plans to see which is best for your lifestyle and budget.

Benefits of Buying

Those who want to save in the long run and have additional freedom of ownership will likely choose a finance plan. See the benefits below:

  • You will own your car outright, for as long as you like. There is no obligation to return your car to the dealership.
  • There are no mileage limits when you own your car. Drive around Irmo all you want without worrying about overages.
  • Buying gives you more customization options.
  • Sell your car if you’d like. It belongs to you.
  • Financing for purchasing a car is more straightforward than leasing. You can even apply for financing online.
  • Over time, because you will likely keep a car you own longer than one you lease, you will save money.

Benefits of Leasing

Leasing offers easier approval and might offer lower monthly payments. Additional benefits include:

  • Your down payment and monthly payments are lower when you lease. So are your sales taxes in Lexington, since you don’t own the car outright.
  • Once you’ve leased your first vehicle, it’s relatively simple to trade it for your next lease. Just pay any remaining fees on your old car and choose your next lease.
  • You aren’t stuck with the hassle of trading or selling your old leased vehicle. Just return it to the dealership when the lease ends. As long as you haven’t exceeded the mileage and wear and tear limits, you’re good to go.
  • Stay up-to-date with new models when you lease. Most leases last a couple of years, making it easy to upgrade often.
  • As long as you’re under your mileage limit, your warranty coverage will protect your car.
  • It’s easier to get approved for a lease than it is for a car loan. Even if your credit has taken a hit, you can still drive a reliable new car.

Mazda of Columbia Can Help You Decide

Still debating, “Should I buy or lease?” Contact us, and our team at Mazda of Columbia will help you compare lease vs. buying to see which is best for your Blythewood and Lexington commutes.

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