Open Today! Sales: 9am-5pm | Call us at: 585-352-5995
Open Today! Sales: 9am-5pm
Call us at: 585-352-5995
Buy vs. Lease
Buying vs. Leasing: Which Option is Better?
Here at Mazda of West Ridge, we know how important it is to find a vehicle that suits your needs on the road. Part of that search involves exploring different financing options. Whether you know you prefer buying a vehicle, or you want to explore the benefits of leasing, our financing team will be here to help you throughout the process.
One of the main questions our financing team gets pertains to the differences between leasing and buying. Many folks want to know which is the better investment option, and which will yield better results for their wallet. While neither option is objectively better, there both have unique benefits that may benefit your individual driving needs.
What's the Difference?
There are a few specific differences between these vehicles, which can help clarify which option may be most complementary to your driving needs.
Leasing: Financial Flexibility, Driving Parameters
Leasing is a popular option for drivers who may be looking for a short-term vehicle, or who don't drive long distances often. That is because leasing a vehicle can often be a more cost-effective option on a monthly basis. Leasing does come with certain parameters -- you get a certain amount of miles to use throughout the duration of your lease, and you are required to keep the vehicle in good condition.
However, for many drivers, financial flexibility is an enticing benefit. With it, they are able to invest in higher-end models that they would not be able to buy.
Buying: Vehicle Ownership, More Costs
The most obvious benefit of buying a car is that you get ownership of it. As such, you have complete control over how often you drive it and what kind of condition you keep it in (no restrictions on that front). However, buying a car comes with its own drawbacks for some. For instance, the vast majority of drivers need to take out an automotive loan to cover the initial cost of the vehicle. Doing so results in a credit check, and also can result in higher monthly payments (depending on the amount of the loan and the number of months it is spread across).
However, another benefit of buying is that once you pay off that loan, the car is completely yours. So while leasing is akin to renting an apartment, buying a car is like buying a home -- it's an investment.
Depending on your driving habits and your financial situation, either of these options may be right for you. With our team by your side, you will easily be able to navigate the purchasing process and get a purchasing plan that works for you.
Have Any Questions?
We know that financing can seem daunting, especially if you have never bought or leased a car before. With our team by your side, you don't have to worry about this, though! Just stop by Mazda of West Ridge, located in Spencerport, NY. Our team would be proud to help you schedule a test drive with your favorite model on our lot.
Stop by today, and we can help answer any questions you may have about the purchasing process, whether you are ready to finance a model or you are still researching models to consider.
We are proud to serve drivers in Greece, NY, Rochester, NY, and Brighton, NY.