Leasing Vs. Buying: A Personal Dedication

Those individuals who have always purchased a new automobile may tell you that leasing is for dummies. People who have always leased will say that folks who purchase are nuts. So, who’s right and who needs to have their transportation strategy checked under the hood? The answer is that there is no right answer; and no wrong answer. Leasing and purchasing new vehicles have their good points. The answer is not what’s right but what is right for you - at this point in your life. Even if you have leased all your vehicles up to this point, now could be the time to purchase a new vehicle. By the same token, if you’ve purchased every vehicle that has ever been parked in your garage, there may be no time like the present to try a lease.

It doesn’t take an economic genius to know that the financial condition of this great Nation has changed dramatically over the last few years. Changes in the economic stability of the land have brought about changes in the way we meet our transportation needs. Automobile leasing and purchasing plans are in place now that were unheard of a few years ago. Come in and let the experienced staff at Quality Mazda of New Mexico give you the low down on the latest lease and purchase options available right now.

Leasing

If you are the type of person that is prone to buying a new car every couple of years, then you might want to look at leasing as a more feasible solution. Here are some of the advantages of leasing over buying:

· Maintenance (except tires) and repair costs are usually covered by the automaker

· Lease payments are usually lower than purchase payments because you are paying only for vehicle depreciation, interest, taxes, and mileage fees

· You have access to a brand new vehicle every year or couple of years

· Since you change vehicles more frequently, you have greater access to the latest features and technology

· You can adapt your vehicle (more often) to meet the needs of you and your family more precisely

· If styling trends are important to you, keeping up with them is easier in a short term lease

· Access to multiple vehicles (if needed) is more financially practical in a short term lease

· No need to concern yourself with vehicle resale - just turn the old car in and pick up a new one

Purchasing

If you like to drive the same vehicle for three or more years, then a vehicle purchase may be more to your liking. Here are a few of the advantages of purchasing a new vehicle instead of leasing:

· When you own a vehicle, you are not limited by mileage plans

· Owning a vehicle allows you to resell it (or trade it in) anytime you are ready for a new one

· If you choose to keep the vehicle long-term, you own it at the end of the loan term

· Early termination fees may make getting out of a leased vehicle (early) nearly impossible before the lease term is up. Owning the vehicle allows you to trade-in (or sale and cash out) at any time

· You can customize and modify a purchased vehicle according to your taste. Leased vehicles must remain perfectly stock