Buying vs. Leasing at Bright Bay Mazda
At Bright Bay Mazda, a lot of drivers come in wondering if they should lease or buy their next vehicle. Both options have many pros and some cons. Depending on your situation, either way of financing your vehicle could be the right answer. Read on to find out what leasing and buying is all about and how to determine which avenue you should take when you are looking to get a new Mazda vehicle.
Buying Your Mazda
- Ownership: If you decide to buy your vehicle, the car is yours. Of course, you have to meet your obligations to the lender who provides your loan, but you are free to do what you want with the vehicle and don’t have to return it to the dealership at the end of a term.
- Costs: When you buy a car, you will likely need a down payment. You can also trade-in an old vehicle to use the equity towards a down payment. Your required down payment will vary. Discuss this with our financial experts when you visit our dealership in Bay Shore.
- Future Value: You will be able to sell your car in the future or trade it in towards a new car. Keep it in great shape to make the most you can off of this important investment.
- Payments: Once you pay off the loan on your vehicle, you’re done making payments. If you take great care of your Mazda, you could drive it for many years payment free!
Leasing Your Mazda
- Ownership: When you lease a vehicle, the car is not yours. You are simply paying to use the vehicle for a set amount of time. You’ll usually pay less per month because you’re simply paying for the use of the car instead of its entire value.
- Costs: With leasing, you usually won’t have to make a down payment. Most of the time, all that is required is the first month’s payment, a security deposit, and some other taxes and fees.
- Future Value: You will not end up owning the car at the end of your lease so you won’t be able to sell it. Oftentimes, you will have the option to purchase the vehicle at the end of your lease term, though, if you choose to.
- Payments: You will make payments for the entire time you a driving the car. Many people return the vehicle at the end of the lease term for a new vehicle, while others make the choice to buy it. Ask the staff at Bright Bay Mazda what your options are.
Feel free to stop by our dealership in Bay Shore to discuss leasing or buying your next Mazda. We have a wide selection of new or used Mazda vehicles for sale and will help you determine the best way to finance the car you want. Bright Bay Mazda is your Long Island dealership serving the Huntington, Wantagh, and Deer Park areas with great prices on all of our Mazda vehicles including Mazda3, Mazda6, Mazda CX-5, and more!