Lease or Buy New & Used Mitsubishi in Belleville, ON
When picking out a new car at the Belleville Mitsubishi showroom, you’re not only faced with a wide selection of quality vehicles: you’re also offered the choice of buying or leasing. The key difference is that buying makes the vehicle yours right away, whereas leasing from us is a better short-term option that only has you paying for the portion of the vehicle you use. Shorter leases will ensure you pay less than someone who opts for a long-term lease or decides to buy the vehicle at the end of their term. What’s more, you’re always driving under warranty when you lease. Meanwhile, buying a vehicle provides more long-term freedom by eliminating monthly payments and mileage limitations, and lets you customize your vehicle to your heart’s content. Keep reading as our experts at Belleville Mitsubishi walk you through the top differences between leasing and buying, and learn which option is the best fit for your budget and lifestyle! You can also apply for financing with us today!
Why Lease?
Leasing a Vehicle Comes with Lower Up-Front Costs
When you lease a vehicle, you effectively rent it: you don’t own the car and essentially only pay for the portion of the vehicle you use rather than investing the full price. Once your lease is finished, you can either return your vehicle to the dealership and select a new model, or continue paying off the remaining amount.
Leasing Restricts Your Mileage & Permitted Wear and Tear
Since the vehicle still belongs to our dealership when you lease, there are restrictions on how much mileage you can put on the clock. Check your terms or ask how many kms your vehicle is permitted when leasing. You may also be subject to fees for wear and tear surpassing what’s permitted by your lease agreement.
Leased Vehicles are Always Under Warranty
Since you’re only leasing a vehicle for a limited amount of time, (unless you then choose to buy it and pay the remaining amount off), its service warranty typically won’t expire before your lease duration runs out. After that, you can switch to another brand new vehicle and enjoy another full round of warranty coverage, cutting your service and maintenance costs.
Why Buy?
Buying a Car Gives You Total Ownership & No Interest Fees
When you buy a vehicle, you invest the full amount right away. The up-side of buying is that you own the car and won’t have to put up with long-term monthly payments. As a result, buying tends to work out cheaper in the long run, as you aren’t subject to interest charges.
Owning a Vehicle Permits Unlimited Mileage & Customization
Since you own the vehicle, you don’t need to worry about maximum mileage cut-offs or excessive wear and tear. You’re also welcome to customize your vehicle however you like without worrying about any prior agreements or resulting fees
Warranties Eventually Expire & Service Costs Become Yours
If you’re buying a car outright, you’re committing to one vehicle long term. As a result, your warranty coverage will eventually run out, and you’ll have to buy more or face higher maintenance & repair costs. What’s more, the older your vehicle gets, the more it’s likely to need service or repair work, landing you with more fixes and parts replacements later in its life.
Finance Your Vehicle at Belleville Mitsubishi in Belleville, ON
Settled on which option is right for you? Get in touch with our finance experts at Belleville Mitsubishi to talk about buying, financing, or leasing the vehicle of your choice, or take a test drive in Belleville, ON with one of our specialists!