A Buyer’s Guide to Financing vs Leasing a Car
When it comes to acquiring a new vehicle, the decision between financing and leasing can be daunting. At Turnersville Mazda, we understand the importance of making an informed choice that aligns with your financial goals and lifestyle. Here’s a buyer’s guide to financing vs leasing a car, where we break down the differences to help you navigate this decision. To learn more about our available financing options, feel free to get in touch with our team in Turnersville, NJ.
The Differences Between Financing and Leasing
Ownership
Financing allows you to own the vehicle once you’ve completed payments, giving you full equity and the freedom to modify or sell it as you please. Leasing, on the other hand, grants you the use of the vehicle for a set period without ownership rights.
Monthly Payments
Financing typically involves higher monthly payments since you’re paying off the entire cost of the vehicle. Leasing often offers lower monthly payments since you’re only paying for the vehicle’s depreciation during the lease term.
Mileage and Usage
Lease agreements come with mileage restrictions, and exceeding them can result in additional fees. Financing doesn’t have mileage limitations, allowing you to drive as much as you want without penalties.
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Maintenance and Repairs
With leasing, the vehicle is usually under warranty for the duration of the lease, covering most maintenance and repair costs. When financing, you’re responsible for all maintenance and repair expenses once the warranty expires.
Flexibility
Leasing provides flexibility to upgrade to a new vehicle more frequently, perfect for those who enjoy driving the latest models. Financing offers the flexibility to customize and keep the vehicle long-term, catering to those who prefer stability and ownership.
Finance Your Favorite Mazda in Turnersville, NJ
At Turnersville Mazda, our finance experts are here to help you explore both options and choose the one that best suits your needs. Whether you opt for financing or leasing, we’re committed to making your car-buying experience seamless and enjoyable. Visit us to discover your dream Mazda, and schedule a test drive with us to take it out for a spin today!
