Buy or Lease a New Mazda?

NY Buy or Lease | Long Island Mazda Dealer

So you're deciding whether to buy or lease NY your new car. We can help. When looking to get a new car, it's important to consider all your options before you take the next step. We pride ourselves in helping our customers assess all their options when shopping for a new car and figuring out what is best for them. When deciding whether to buy or to lease your new New York Mazda there are a number of pros and cons to consider for both options, and they are important to identify when figuring out what your priorities are. We'll look at leasing first.

New York Mazda

When leasing a car you are often able to get more car for less money. That's because a lease is based on only a percentage of the car's price, whereas a car loan when buying is based on the whole car’s price. With a lease you only pay the difference between the car's price and what it's expected to be worth at the end of the lease. There are some drawbacks, though. Many leases have a cap on the number of miles you can drive in a year, and there are major penalties if you go over them after the lease is up.

When buying a car, after the loan is paid off the car is yours. Each loan payment made on the vehicle means the more equity you are gaining. With a lease, you are basically renting the car, and at the end of the lease period you are able to walk away from it, but you have nothing to show for it. You also have no mileage restrictions when buying. One drawback is that the loan payments are often more than lease and you usually need a larger down payment, and the loan can last much longer than a lease-sometimes up to 7 years.

Stop by our Long Island Mazda dealer to speak with our finance dept. You can also fill out an application online, and don't worry we have NYC bad credit financing available.

Categories: Finance
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