The Benefits of LeasingFeb 27th , 2017
1. LOWER PAYMENTS
Often when leasing a vehicle, your payment is less than if you had chosen to finance that same vehicle. This is because when you are leasing a vehicle you are paying for the percentage that was agreed upon and the remaining amount (called the residual value) is what remains. The residual value is the guaranteed amount that the vehicle is worth after the lease. Please note that if you are considering buying out the vehicle after the lease, then HST and other fees will occur. This might include a Ministry of Safety Inspection, emission test, etc. If the intent is to return the vehicle after the lease then Mazda Canada will co-ordinate to have the vehicle inspected for anything out of the ordinary (fair wear and tear).
2. STAYING UP TO DATE
Another advantage of leasing a vehicle is that it allows you to upgrade vehicles more often without any long term commitments. After financing a vehicle, you do have ownership of it but it also means that you cannot take advantage of the new technologies included in later models. For example, someone who purchased a Mazda before the introduction of Mazda’s SKYACTIV suit of technologies misses out on the innovations and fuel efficiency those technologies bring. One who leased a vehicle could take advantage of these technologies by leasing the latest version of the vehicle upon completion of their current lease. This allows you to stay up to date while also paying a lower rate than someone financing the same vehicle.
3. MORE OPTIONS
Due to the lower monthly payments associated with a lease you have more options in terms of which vehicle you lease and in what trim level. At times, you can lease a top trim vehicle for the same monthly payments as a financed vehicle of a lower trim. Cheaper payments also means you have more flexibility within your budget to include accessories or features that you would like your vehicle to have. And if for whatever reason a certain feature or accessory is not to your liking you have the added peace of mind that you will have the option of returning the vehicle at the end of your lease term. An important point to also consider is that leases have early termination options should you want out early for whatever reason.
4. TRADE-IN VALUE IS PREDETERMINED