Leasing vs Financing

 

    Looking to own a car but don't know whether you want to lease or finance?


When it comes to choosing between leasing and financing a vehicle, the choice ultimately comes down to what your long-term intentions are. Ask yourself do you like to have a new car every few years or do you plan to drive your car until it can't drive anymore? 


   


LEASING


  • Lease payments are almost always lower that loan payments

  • You don't own the vehicle and unless you decide to buy it, you would have to return it at the end of its lease

  • When your lease is finished, you get to lease a new car without the worry of selling or trading in the old one

  • If you are a frequent drive, you may go over the mileage limit and have financial penalties for exceeding them


FINANCING


  • More flexibility with how you use your car

  • Allows you to make any modifications to your vehicle 

  • Allows you to drive as you please and not have to worry about kilometres

  • You have to pay up front, meaning you may have to take out a loan either through the dealership or a bank with interest

  •  Once you pay off your car, you and only you are the sole owner

The choice to lease or buy ultimately comes down to what your long-term intentions are, so ask yourself do you like to have a new car every few years or do you plan to drive your car until it can't drive anymore? 

Whether you choose to lease or finance your next vehicle, Airport Mazda is here to help so come and see us today!