New Car Leases

Driving Smarter: Unraveling the Benefits of Leasing New Vehicles

Do you enjoy driving a new vehicle every few years without paying the high price tag of buying it outright? Would you like a new Mazda with lower monthly payments and continued warranty coverage? If your answer to these questions is yes, consider leasing a Mazda from us at Hiley Mazda of Fort Worth, Texas. Our finance and lease team will work with you to find flexible lease terms you’re comfortable with so you can drive a new Mazda after each lease term expires. Explore the benefits of leasing a new vehicle from Hiley Mazda of Fort Worth.

What Is Leasing a New Vehicle?

When you lease a vehicle, you’re able to drive it as you normally would, but the difference is that you are renting the vehicle rather than owning it. This means that the dealership or leasing company will keep the title. If you’d like to drive a vehicle for a while without the commitment of ownership, leasing might be a great option for you. 

For every leasing arrangement, you’ll receive terms that detail the length of the lease, the maximum mileage allotment, and the required monthly payment. The payment is based on the depreciation that naturally occurs when you operate a vehicle, along with fees and interest. When you get to the end date of your lease, you can either pay off the remainder of the vehicle’s cost to own it, or you can return it to the dealership.

During your lease period, you can operate your vehicle similarly to the way you would if you’d purchased it. However, you might need to follow some terms to make sure that you’re keeping the car in good condition. For example, you might need to take the vehicle in for oil changes at predetermined intervals. 

Failure to complete any of these lease requirements might result in penalty fees. While these fees may seem worrisome, each condition of a lease is designed to maintain the performance and longevity of the vehicle. Whether you purchase or lease a vehicle, you should always take it in for regular maintenance and service to get the most out of your ride.

Leasing vs. Loan

Although similar, there are some differences between a car lease and loan for you to consider. When you get a loan, you essentially borrow money from a bank or other lending institution to pay for the vehicle. Like a lease, this involves monthly payment. 

Once you’ve paid back your loan, though, you own your vehicle. While monthly loan payments can be higher than those of a lease, a loan can be a good option for someone who wants to eventually own the vehicle. Deciding between a lease and a loan depends on your personal preferences, financial situation, and goals for the future.

What Are the Advantages of Leasing a Vehicle?

When selecting a payment option for a vehicle, you should do what’s best for you, your lifestyle, and your budget. There are many potential advantages to choosing a leasing option. Here are some things to consider when deciding if a lease is right for you:

Lower Monthly Payments and Initial Costs

A lower cost is one main reason people lease a vehicle rather than buy a new one. Leasing is a smart move for savvy drivers who wish to save money while still enjoying modern features and innovative technologies that come with new Mazda vehicles. In addition, your leased Mazda comes with a manufacturer’s warranty that covers repairs to the vehicle during the lease terms. Here are some of the financial benefits of leasing a new Mazda from Hiley Mazda of Fort Worth.

Reduced Down Payments

Often, when you buy a new vehicle, a hefty down payment or a high trade-in value is required. When leasing, however, you only need to put a small amount of money down, if any. The main advantage of putting a down payment toward your leased car is to reduce your monthly costs. With Hiley Mazda of Fort Worth’s flexible lease terms, we’ll find the best monthly payment plan for you, and together, we can decide what size of down payment suits your needs.

Affordable Monthly Payments

Generally, monthly payments are cheaper than the up-front cost of a new vehicle. This is because you’re not paying any principal on an auto loan. If you want to drive a new Mazda with all the latest technologies and safety features, especially on a budget, leasing is a viable option. It is a fabulous way to drive a new Mazda vehicle without the commitment of long-term ownership.

Warranty Coverage and Maintenance Benefits

For the right person, leasing a new Mazda has many remarkable benefits. When you stay within the set mileage limits and don’t make after-market upgrades stated within the leasing contract, you won’t have to pay for repairs as your leased Mazda is under the manufacturer’s warranty.

A Manufacturer’s Warranty

When leasing a new Mazda, you’ll receive a manufacturer’s warranty that covers select repairs and replacement parts specified under the warranty terms. These terms have an expiration date, generally between 36 and 60 months after signing the lease, depending on the warranty coverage. Once these original warranty terms expire on your new Mazda, you’ll have to pay out of pocket for repairs, replacement parts, and maintenance fees unless you purchase an extended warranty. To avoid having to pay for repairs covered under the warranty, simply lease a new Mazda that comes with a new warranty.

Low Maintenance Costs

Out-of-pocket maintenance fees can get expensive, especially if your vehicle needs major repairs. Since your leased Mazda is under warranty, the dealership handles repairs, and the warranty covers the costs. This makes leasing a Mazda instead of purchasing one financially advantageous. Keep in mind that while the warranty covers repairs, you still need to make sure and keep up and pay for basic maintenance of your Mazda such as oil changes, tune-ups, and tire rotations. These are minimal costs that help ensure your leased Mazda stays in top condition.

Flexible Upgrade Options and Convenience

Imagine being able to drive a brand-new Mazda every few years that comes with new technology and features. Buying a new Mazda for ownership can be costly with the down payment, closing costs, and higher monthly payments. However, when you lease a new Mazda model, you’ll be able to enjoy the new features that auto designers add to new Mazda models. Here are more benefits of leasing a vehicle.

Regular Upgrades

If you own a vehicle and then decide you want a new one, you’ll have to sell your older model privately or through your local dealership or trade it in at the dealership for a new one. Any of these processes takes time and effort, and you’ll still have to cover the cost of a new vehicle.

With leasing, you won’t experience the hassle of selling or trading in your older vehicle. You can simply decide which Mazda vehicle you want, choose the trim level and other features to elevate your driving experience, and drive it home.

Convenient End-of-Lease Options

Once a lease term ends, many people decide to return the vehicle and lease a new one. However, you do have other options, such as:

• Extending the lease: If your lease ends and you haven’t found a new vehicle you want to lease, talk with your dealership to discuss extending your existing lease. 
• Buying out the leased vehicle: If you’ve fallen in love with your leased Mazda, consider buying it out. Some fees will apply, but our finance team can help you with the paperwork.
• End leasing: If you decide that leasing a vehicle isn’t right for you, you can simply stop leasing after your current lease term ends. This may be a good option if you need a vehicle for road trips that exceed the mileage limitation or decide it’s time to buy and own a new car instead.

Lease a New Mazda From Hiley Mazda of Fort Worth

Our team at Hiley Mazda of Fort Worth invites you to visit our dealership to browse our inventory of new Mazda’s for lease and take one for a test drive. Once you’ve found your dream Mazda, our finance team will help you lease a new car that includes terms you’re comfortable with. Whether you want a Mazda CX-5, an electrified Mazda CX-90, or a subcompact Mazda CX-30, we’ll get you behind the wheel as soon as possible.

How to Get the Best Lease Terms in Fort Worth, TX

Since leases depend on the depreciation of the vehicle, a ride that holds value will cost you less per month. Cheaper vehicles generally have lower payments, too. In terms of lease length, you can discuss those options with your lease consultant. Don’t be afraid to negotiate for a shorter lease if that makes you more comfortable. The goal is to help you find a lease that works best for both you and your dealership.

While leases can seem complicated, we’re here to help you at Hiley Mazda of Fort Worth. Contact our finance department today with any questions you might have. We’d be happy to discuss your options with you to help you finance a vehicle that you love.