Should I Buy or Lease?

Signing Finance Documents for Car

Once you find the right new car at Longwood Mitsubishi, you have another important decision to make. When it comes to automotive financing, you may be asking yourself, “Should I buy or lease?” There’s not one right answer, but there’s probably a right answer for you. The team at Longwood Mitsubishi is here to help you find the best financing option for you so that you can be 100 percent satisfied with your purchase. 

Advantages of Buying

  • No Mileage Limits: If you do a lot of driving around Sanford and Deltona, you may be more interested in buying rather than leasing. When you lease, you are limited by mileage restrictions. When you finance, you are free to drive as much as you want. 
  • Customization: If you prioritize creating a vehicle that matches your unique style, financing gives you the freedom to customize your car as you see fit. Change the color, upgrade your sound system, or add ambient lighting. The choice is up to you!
  • Ability to Sell: If it is time for a new vehicle, you can sell your current car at any time if it has been financed. 
  • No Charges for Excess Wear and Tear: When you finance your car, there are no additional charges for excess wear and tear on the vehicle. 
  • Less Cost Over Time: Up front, it is more expensive to finance a vehicle, but as time goes on and you continue to pay off the loan, the vehicle becomesless expensive. 

Advantages of Leasing

  • Lower Payments Each Month: The cost of leasing a vehicle each month is generally more affordable than traditional financing. Your down payment will also likely be more affordable. 
  • Less Sales Tax: In most states, the sales tax on a leased vehicle is significantly lower. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Hassle-Free Trade-Ins: When the terms of your lease are up, it is easy to upgrade to a new vehicle of your choice. Head on over to Longwood Mitsubishi, take care of any fees that remain, and find a new vehicle to love! 
  • Warranty Coverage: If you stick to the mileage limits set for your lease, your vehicle should be covered by warranty for the duration of the lease. 
  • Drive a New Car More Often: When you lease, you have the ability to drive a new vehicle with all of the latest bells and whistles every couple of years. If you like to always have the most state-of-the-art features in your vehicle, leasing is a great way to do so. 

Experience Hassle-Free Financing with Longwood Mitsubishi

With this guide to lease vs. buying, our team strives to make automotive financing a stress-free experience. If you have additional questions, such as “Is Gap insurance worth it?“, do not hesitate to reach out to us. Get started today by applying for credit!

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