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Should You Buy or Lease Your New Mazda?

If you're in the market for a new Mazda, you might be trying to decide whether you should buy or lease. The main difference between buying and leasing is that with buying, you own the vehicle and are paying the entire purchase price. With leasing, it's much like renting in that you only pay for what you use.

Buying a Mazda

Buying a Mazda at your St. Petersburg, FL, Mazda dealer has both pros and cons vs. leasing. If you buy, you can sell the car whenever you want and put whatever mileage you want on it, as well as customize it. If you plan to keep your car for a long time, then buying makes more sense. The cons are that you will usually have a higher monthly payment and higher down payment. In a pure dollars and cents sense, buying always makes more sense than leasing in the long run. It's easy to be stuck in the "lease circle." Once you lease, you end up leasing again when the contract ends. The other consideration is that credit concerns usually work better with buying vs. leasing.

Leasing a Mazda

If you decide to lease a Mazda car or SUV at Tyrone Square Mazda in St. Petersburg, Florida, you have a few pros to consider versus buying. Leasing makes more sense if you want to drive a new car every two or three years. It also gives you a lower monthly payment and a lower down payment. You only have to pay sales tax on the portion of the car that you are "buying" and the majority of your repair work will be covered by factory warranty. The downside is that your mileage is a set amount, you won't own the car at the end of the contract and if your driving habits change, it's difficult to end a lease contract early. On the other hand, plenty of customers find having new cars with updated technology every two to three years very appealing.

In truth, there is no absolute hard and fast rule about whether buying or leasing is better. However, if you visit Tyrone Square Mazda, your St. Petersburg, FL, Mazda dealership, our knowledgeable sales reps will help you decide which option is best for you. Tyrone Square Mazda serves customers in Tampa and Clearwater as well. Come in today and explore your options: apply for credit, value your trade or just take a test drive.