Leasing vs Financing

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Should I Lease or Finance My Next Vehicle?

Deciding whether to lease or finance your next car, truck, or SUV can be a tough decision. The solution? It ultimately depends on your needs and preferences. While this may be a vague answer, don’t worry.

At CardinaleWay Mazda Peoria, we have a team of vehicle financing experts who will help you explore all available options to find the best possible deal. In the meantime, we put together this page with a side-by-side comparison of the pros and cons of lease and financing options.

If you still have questions after reading, visit our showroom in Peoria, AZ to speak with one of our many in-house vehicle financing experts today!

Should I Lease?

Pros

  • More vehicle for less money
  • Shorter loan terms
  • Ability to drive a new vehicle every 24 to 48 months
  • Less repair costs thanks to new vehicle maintenance plans
  • Pay less sales tax
  • Option for little to no down payment

Cons

  • Vehicle usage limited based on mileage
  • You don’t “own” the vehicle at the end of the lease — but there is an option to buy
  • Mileage overage costs can be costly

Should I Finance?

Pros

  • You own the vehicle at the end of the financing agreement
  • Can be used as a trade-in at a later date
  • Vehicle can be modified and customized as you please
  • No mileage restrictions or penalties

Cons

  • Higher payments than lease agreements
  • Typically requires a higher down payment
  • You’re responsible for repair costs once the maintenance plan expires
  • Your cash is tied up in a vehicle that depreciates

Test Drive at CardinaleWay Mazda Peoria Today

Still undecided? Visit us at CardinaleWay Mazda Peoria for a no-pressure, stress-free shopping experience. Our sales team is here to walk you through our entire inventory, explain features, and set you up for a test drive.

Once you’ve found your perfect Mazda, our in-house finance experts will break down the benefits of both leasing and financing, so you can make an informed decision.

Don’t let the confusion of financing and leases keep you from the new vehicle you need, visit our showroom at 8424 W Bell Rd Peoria, AZ 85382 for a test drive today!