Blog / Rochester Mazda Dealer

Lease, Buy, or Pre-Owned - What's Best For You?

Used Cars for Sale
When you set out to buy a car, you're planning one of the most significant purchases of your life. Many people think that buying the newest car is going to give them the best bang for their buck, but that's not always true. We'll talk about buying pre-owned, leasing, and buying new, so you can decide what the best choice is for you.

Buying Pre-Owned

If you're on a tighter budget, buying a used vehicle is a great option. You'll find much lower prices than you would for a new car. Many dealerships also offer Certified Pre-Owned (CPO) vehicles, which will generally provide you with a warranty that is similar to what they'd offer on a new vehicle. However, you may have fewer options when purchasing a used vehicle, and while your loan may be lower, you may find your interest rate is higher. But with patience and a little elbow grease, purchasing a used car can be one of the best options for both your wallet and your vehicle's long-term value.

Buying New

One of the most obvious benefits of buying a new vehicle is that you'll have your pick of cars off the lot, with the ability to customize your model of choice to meet your needs. You won't have to worry about the history of the vehicle, and you'll get the best warranty available from the dealership. New vehicles will often come with the best in safety and comfort technology and the most modern amenities. Of course, a new car will also set you back the most in terms of cost. You'll have to afford a higher down payment so that you're not underwater on your loan (owing more than the car is worth). And a new car depreciates the most in the first few years of ownership. But if you want a vehicle that perfectly fits your needs and you've got the budget for it, buying new could be for you.

Leasing

If you like the idea of a new car, but don't like the idea of paying the higher cost, you may want to consider leasing. Instead of paying for the full value of a new car, you'd be paying for the amount the vehicle is expected to depreciate during your lease term, plus interest and fees. You won't own the vehicle and will need to follow the rules set by your leasing company, which often includes usage and mileage limitations. However, leasing will let you get behind the wheel of a new car every 2-3 years and can be a great option if you want the benefits of a new vehicle without the long-term commitment of a loan. Whether you choose to buy new, pre-owned or lease your vehicle, you'll want to work with a dealership that understands your needs and desires. It all comes down to your budget, how flexible you are on your amenities, and whether or not you want to own your car at the end of the day.
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