When looking for a new Mazda vehicle from Lester Glenn Mazda in Toms River, one of the decisions you'll have to make is whether you want to lease or buy your new Mazda vehicle.
If you've never leased a vehicle before, some of it could be a little confusing.
However, for most of our customers today, leasing remains to be the best option.
Did you know that consumer leasing has more than tripled in the last 20 years?
| Today, about one out of every five vehicles is leased nationally, and for our area in Toms River and the greater Ocean County and New Jersey area, that number is much higher. |
*A J.D. Power and Associates survey showed that 93 percent of the people who leased for the first time were so satisfied that they leased their next vehicle
.
.
| Leasing is a completely different financial transaction and not just another way to buy a car. When you purchase a vehicle for $30,000, you will have to either pay cash or finance that entire amount. With leasing, for that same $30,000 vehicle you might only have to pay $13,500 to drive it for the next 3 or so years. Overall, a lease payment will be about 40 percent less than a purchase payment. If a purchase payment at 36 months was $500/month, a lease payment for that same vehicle might be $300 for 36 months. |
Some benefits to leasing:
- Lower monthly payment
- Able to get more vehicle for the money spent
- Shorter time of ownership of a single vehicle
- Fewer costly repairs and less maintenance
- No risk of diminished vehicle value
- GAP coverage is included
- Frees up your overall credit
- No hassle selling or trading in your vehicle
- Your vehicle is usually under warranty for the duration of your contract
At The End Of Your Lease, You Have Three Options
Buy Your Lease Vehicle
Complete the sale by paying the residual value (the value of your vehicle accounting for depreciation of your lease terms), which is the part you had not paid for up until that time.
Return Your Vehicle
Return your vehicle to the leasing company, regardless of value.
Get A New Vehicle
You can either roll remaining lease payments into a new vehicle lease, buy out your current lease vehicle and use it as a trade-in vehicle if the value is higher than the residual, or buy it out and sell it before acquiring a new Mazda vehicle.
The important thing to remember is you never give up the right to ownership, you only postpone the day you have to make the purchase commitment.
Think of leasing as a really long test drive in which you have, on average, 2-5 years to decide if love the vehicle and want to buy it, or turn it in and get something new.
If you read through this and think that leasing is the right option for you, we have several new vehicle lease specials on our new Mazda vehicle line-up this month that can help make your decision even easier.
Plus, every vehicle leased from Lester Glenn Mazda comes with complimentary oil changes and loaner vehicles!
Our team would be happy to review any questions you might have about leasing and offer our assistance however it's needed.
Please feel free to contact our team today by calling us at 732-557-7893 or by completing the form on this page.
AdChoices