When it comes to cars, many people have a lot of misconceptions. This is especially true when leasing is involved. The team at Patrick Mazda is debunking some common Mazda lease misconceptions.
MYTH: Leasing is More Expensive Than Buying
The truth is, leasing typically offers lower monthly payments compared to buying. This is because with financing, your monthly payments reflect the entire value of the car you buy. With leasing, you only pay for what the car is worth over the course of the lease period. Leasing allows you to drive vehicles that may not have otherwise fit into your budget.
MYTH: You Have to Supply a Big Down Payment
Another big difference between buying and leasing concerns the down payment. Financing requires a pretty large initial payment, typically around 20 percent of the car's total value. And while leasing does include upfront fees, generally a large down payment is not required. In fact, some leases don’t require a down payment at all!
MYTH: You Have to Buy Your Car at the End of a Lease
Many people think that once you start leasing a car, eventually you will need to buy it. This is another misconception. While you will have the option to purchase it when the lease expires, you aren’t obligated to do so. You can just turn the vehicle back into the dealership. Other options include continuing to lease the same car, choosing a newer version, or picking a different model.
Get All Your Leasing Questions Answered at Patrick MAZDA
Do you have questions or concerns about leasing a Mazda vehicle? Get in touch with Patrick Mazda. You can also come down to our Auburn, MA, dealership to check out any of the models in stock and to learn about our current lease offers.
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