Buying vs Leasing

Are you wondering whether buying or leasing might be best for you? There are many things to take into consideration that the financial team at Jack Giambalvo Mazda is more than happy to discuss. Both options have their pros and cons, and everything from your financial situation to what you like to do for fun can come into play. Here are some questions to consider before you stop by our dealership in York, PA.

What is your budget?

If you're on a tight budget, leasing might be a great option for you. Lease payments are often lower than payments on a car loan. That said, breaking a lease is expensive, so make sure that you can comfortably make your lease payments to avoid paying penalties.

Do you love to hit the open road?

If so, you might want to buy your car instead of lease. Most lease agreements limit the number of miles you can drive, meaning spontaneous road trips aren't a good idea. Look at your driving habits and be honest with yourself about whether or not you can keep your mileage below the lease agreement caps to avoid paying penalties on your lease. If the freedom of hitting the road is important to you, consider buying your next vehicle instead of leasing.

Are you rough on your vehicle?

When you lease a vehicle, you are only paying for the portion of the vehicle you use and anything outside of what's considered normal wear and tear may cost you. If you own your vehicle, you are free to do whatever you want to it, and it will only affect your resale value.

Do you have a down payment?

Most lease agreements don't require a down payment. On the flip side, 100 percent financing is hard to find so you'll either need a valuable trade-in vehicle or the cash to put down upfront to buy a vehicle.  If you've saved up for a car and can afford to put a good chunk of money down, you can lower your payments and have equity in the vehicle. Otherwise, leasing may be your best bet for a lower payment.

Do you like to customize your car?

If customizing and truly making your car your own are important to you, buying is your best option. With leasing, you don't have the freedom to personalize your car because you are simply "renting" it. If you don't really get into customization, leasing might be a good thing for you to consider.

Come by our Jack Giambalvo Mazda dealership to find your next vehicle and determine if leasing or buying is right for you. Whichever you choose, we can't wait to help you get behind the wheel of your new Mazda.