Buying vs. Leasing

Weigh Your Options

When deciding on a new vehicle, choosing whether to buy vs. lease can be challenging. It varies from individual to individual, depending on the advantages you seek. As your automotive experts, we’re here to assist you in weighing the advantages and differences of buying vs. leasing a vehicle. Keep reading to discover which option best suits you, and visit our Mazda dealer near Easton, MD, to start your journey.

Buying vs. Leasing: What’s the Difference?

As a driver, do you find yourself wanting to switch up your car every year or two? If the answer is yes, then leasing a vehicle may be a better-suited option than buying. If you’re looking to invest in your vehicle and build equity, purchasing a vehicle may be your better option. Below you’ll find the key differences between buying vs. leasing to help you make an informed decision.

Buying	Leasing
*Ownership* You own your vehicle for as long as you wish on your own terms	*Leasing* You are under a lease contract with terms for a designated amount of time
*Loan payments* you will pay off the vehicle over time	*Lease payments* Lower monthly payments for the vehicle’s depreciation and lower maintenance/service costs (Most automotive brands include the maintenance for 2-3 years)
*Reselling* When you decide you want a new car, you will have to either trade-in or sell it	*Trading In* At the end of your lease, you simply return it to the dealer without any worry of reselling
*Investing* Even though your vehicle’s value will depreciate, you’ll still have equity and cash value	*Renting* Although the value of the vehicle you lease has no future effect on you, you will have no equity or investment in it
*Unlimited Mileage* Though more miles equals lower trade-in value, when you own your vehicle, there is no cap on the number of miles you can drive	*Limited Mileage* A majority of leases limit the number of miles you can drive, and often, you have to pay for surpassing the limit
*Ability to Customize* Since you own your car, you can customize any part of your vehicle on your own terms	*Lease Restrictions* Having to return your leased vehicle in the same condition limits you from modifying your car in any way
*Final Payments* Once you’ve paid off your car loan, you have no further payments to worry about	*Renewing Payments* At the end of your lease, you can choose to purchase the car or decide on a new car to lease

The Choice is Yours

Leasing a car is a lot like renting an apartment; buying a car is a serious commitment and investment of your money. There are distinct downsides to both buying vs. leasing a vehicle, but there are also plenty of advantages to both processes. There is no incorrect choice when it comes to buying vs. leasing. It all depends on which process works best for you. Are you still conflicted on whether to buy vs. lease your next vehicle? Speak with our team, and we’ll work with you individually to find the best option for you.