When one is selecting a new car, the decision of whether to lease or buy a car has a huge influence on one’s budget and daily life. The Mazda MX series is one of the most sought-after cars in the market due to its stylish and powerful structure. However, is leasing a Mazda MX series with the help of suppliers such as First Vehicle Leasing suitable for you? This article will also compare the leasing and buying options with an emphasis on why leasing a Mazda MX series is more beneficial.
Upfront Costs
The first and most obvious difference between leasing and buying a Mazda MX series is the initial cost. When buying, it is often expected that a large down payment will be made which may prove a bit difficult. Leasing, on the other hand, may call for a considerably small initial outlay of cash or even no cash outlay at all. This means you can drive away in a brand-new Mazda MX without a huge initial outlay, thus it is more appealing to many people.
Monthly Payments
Leasing is cheaper than buying in the sense that the monthly payments made are comparatively smaller. Leasing is in fact a form of financing where instead of paying for the value of the car, you pay for the loss in value of the car during the term of the lease. This can lead to the reduction of the monthly expenses, and as a result, you can be able to direct your resources to other areas of your expenditure. If there are individuals who like to drive new cars frequently, leasing can be beneficial especially since they can get the latest Mazda MX series model in a few years.
Maintenance and Repairs
It is also financially wise to lease a Mazda MX series because of the costs that come with the maintenance and repair of the car. Typically, most of the lease agreements do provide for ordinary maintenance and the items are still under warranty for the lease period. This may help you avoid having to spend on repairs of your car which may be expensive when you own a car. This is because it is comforting to know that most problems that may arise in your car are catered for thus making it easy for you to plan financially.
Flexibility and Upgrades
Leasing offers an unmatched flexibility in terms of usage of the asset. When the lease term expires, you can turn in the car, lease another one, buy the car, or consider other models. This flexibility is especially helpful for those people who like to drive the newest models with all the newest options and technologies. Since technology in the automotive industry is constantly evolving, leasing a Mazda MX series allows you to get the latest features without having to own the car for a long time.
Depreciation Concerns
One of the most notable cons of purchasing a car is that the car will lose its value over time. The depreciation on new vehicles is very high and the highest depreciation happens in the first few years of owning the vehicle. Leasing has the added advantage of freeing you from worrying about depreciation. You only pay for the depreciation of the car during the lease period, and this shields you from the volatile market prices. This can be a major advantage for those who do not wish to be tied up in the long term depreciation that comes with owning a car.
Customization and Personalization
Leasing has its advantages but it does limit the extent to which one can make changes to the equipment. Concerning flexibility, lease agreements do not allow many changes to be made on the car, which may be inconvenient for those who like to customize their vehicles. On the other hand, Mazda MX series ownership means you can do as you wish with the car by modifying or even changing it. If you are inclined to have a customized product, then purchasing might just be for you.
Long-Term Financial Impact
In the long run, the costs of leasing and buying should be evaluated before making a choice between the two. Purchasing a car is relatively beneficial if the car is to be used for several years. In the long run, you will fully discharge the car loan and the car is yours with no more monthly installments to make. However, if you want to change your car every few years, leasing can be cheaper than buying a car and then suffering the higher expense of maintaining an old car.
Leasing Mazda MX series and buying Mazda MX series is one of the most significant decision that can be made by anyone, and this decision depends on the financial ability, driving habits and personal inclinations. Leasing is cheaper in the beginning, has smaller monthly installments, and is more flexible than other options which is why it is popular. On the other hand, buying is flexible because you are able to choose the kind of car you want and there may be long term gains. Finally, it will be up to you to decide what is more suitable for your life and how much money you want to spend.
