If you prefer to drive newer, safer, more reliable cars, trucks, or SUVs, but not make a considerable down payment every 3-4 years, and also do not drive an enormous amount annually, then a new car lease might be best for you. Leasing is designed for people who prefer to avoid the annoyance of selling and buying each time they want to upgrade to a new vehicle.
On the other hand, if you want long term automotive relationships with a higher sense of commitment and ownership, then buying may be what’s right for you. Car-buying is typically best for people who do not mind driving the same vehicle for more than five years or even until the vehicle is no longer suitable for the highway.
Knowing the pros, cons, and overall benefits of buying vs leasing a car or truck is imperative. Be sure to look at monthly payments, vehicle ownership, repair costs, and potential savings when weighing the pros and cons of the best new vehicle financing type for you.
When considering vehicle financing, new vehicle ownership certainly comes along with many advantages, most associated with absolute ownership of the car, truck or SUV. You may not be aware, however, there are also some great advantages to leasing, as well. It’s imperative to consider all financial aspects including depreciation, down payment, monthly payments, term length, buyout payments, interest rate, and maintenance & repair costs, before making a decision. A precise checkup of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car.
Vehicle lease payments are often times less expensive when compared to auto loan and car financing payments as the normal lease layout is more-or-less renting with the option to buy out near the end of your lease term. Consider when leasing that you’ll need a nice credit score, and will be asked to carry comprehensive and collision insurance, though the same can be said for the lowest rate auto loans. Although it can increase monthly payments, it’s also best to choose a model with the features you want or need, as personal satisfaction is often priceless.
Auto leases often include regular vehicle maintenance & repair. It is important to keep this in mind when projecting monthly costs of leasing vs ownership. No matter which make and model you select, mechanic bills are an unpredictable cost that can quickly add up. And for those who aren’t certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing is likely the best option for peace of mind.
In general, a new vehicle lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
| Lease | Buy | |
| New Vehicles | Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Vehicle Customization | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
| APR % | Credit-Based | Credit-Based |
| Ownership | No Ownership | Pride of Ownership |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| Maintenance & Repair Costs | Typically Included | Not Included |
Team Gillman Mazda knows that choosing the right Mazda car and financing option is never easy. Our team of experienced Mazda lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Houston, TX. We look forward to serving you.
I have been very impressed with the entire staff at Gillman Mazda. Hasan, my sales person has gone way above and beyond to continue to provide high quality service throughout the purchasing process and even after my purchase. I highly recommend this dealership and I love my car.
I have been so impressed with the level of service and support that I have experienced at Team Gillman. Hasan Majied, my sales consultant has provided high quality service throughout the purchasing process and continued weeks after the purchase. I highly recommend this dealership.
To make a long story short, I researched the car I wanted and went to "my" dealership I have been going to for years. While I was on my way to the dealership, Ken called from Gillman. I told him was on my way to "My" dealership and was most likely going to come home with a new car. Well, the situation went left when I got in the finance office and of course I left. Nonetheless, I was sad the next day but I knew "my" dealership would call me back on Monday ...
After a few months of car shopping at numerous dealerships I quickly remembered why I don’t like buying a cars. This car purchase was for my mom and I went to many dealerships with her and we had a deals on cars to buy then in the final paperwork after 2 hours showed a cost 15-25% more because of dealer add on’s.. so frustrating. I was very skeptical sending my mom to the wolves with out being there and started talking to Hasan Majied at team Gillman Mazda about a Mazda CX-5 they had. I was crystal clear with ...
I have purchased so many new and used vehicles and this is my first time to purchase at this facility. The minute I emailed them, early morning, I received a follow up and a confirmation that I would immediately be assisted. Not only did my rep greet me at the door, he made sure I was comfortable before starting. Kendrick listened to exactly what I wanted and he made it happen with ease. I was out within 1 hour and I have never met a more efficient team. I will see them in 2 years for my next vehicle. awesome team Mr ...
