Should I lease or buy my new car?



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Leasing vs. Buying a New Mazda in Stamford, CT

When you are looking for a new Mazda vehicle in the Norwalk, CT area, you are often faced with many decisions. The toughest of those decisions is likely whether to lease or buy the new vehicle that has caught your eye. Here at Riley Mazda in Stamford, we like to help our customers from Greenwich to Milford find the right option for them. While there is no clear-cut answer to whether leasing or buying is a better option, they do provide benefits for your specific situation. That's why we have compiled this list to help you identify the pros and cons of leasing and buying a new car.

The Pros and Cons of Leasing a New Car 

When considering leasing a new Mazda in greater Stamford, or anywhere, there are many things that you need to assess. For example, if you are a driver who enjoys upgrading to a new vehicle frequently and not being tied to a specific car, the leasing option might be better for you. Learn more about the pros and cons of leasing below.

The Pros of Leasing

  • You can get lower monthly payments and even a possibility of no down payment.
  • You can get more car for less money.
  • You can easily upgrade to a new car.
  • You pay less sales tax.

Leasing Cons

  • You don't own the vehicle at the end of the leasing agreement.
  • Your yearly mileage is capped and there are fees for exceeding the limits.
  • You can face excessive wear-and-tear fees that can be unexpected.
  • You can be faced with costly expenses if you terminate a lease early when driving needs change. 

The Pros and Cons of Buying a New Car

If you thinking about buying a new Mazda vehicle then you should consider if it is the right option for you. Buying offers long-term value in the form of paying off your vehicle and enjoying some time without a car payment. Buying a car, usually by taking out a car loan, also offers you the flexibility to make changes to the vehicle as you see fit to your unique lifestyle.

Buying Pros

  • You will save money long-term if you own your vehicle.
  • You have no mileage restrictions on your vehicle.
  • You have added flexibility in being able to sell your vehicle whenever.
  • You can leverage the value of your car in a trade-in for a new vehicle.

Buying Cons

  • You have a higher down payment to avoid owning more than the car is worth.
  • Your monthly payments will be higher.
  • You are responsible for repair after the warranty expires.
  • You may face trade-in or selling hassles when you want to get a new car.

Overall the decision between getting a Mazda lease or taking out an auto loan for your new car needs to be made on an individual basis as factors many different aspects of a customer's life. If you want to learn more about our leasing and financing options give our experts a call at (888) 319-9985 or visit us at our dealership in Stamford, CT where our team helps local drivers from nearby cities like Norwalk, Danbury, Greenwich & Milford make those auto finance decisions daily. 

Apply for auto financing today!

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