Buying vs. Leasing a New Mitsubishi in Raleigh, NC

What to Know About Buying versus Leasing a Vehicle at Westgate Mitsubishi in Raleigh, NC

Wondering whether you should buy or lease your next vehicle? It's a common conundrum many drivers face. Friends or family you ask may have an opinion about which is better, but the truth is that both offer certain advantages. The finance team at Westgate Mitsubishi can help you make a decision based on your unique set of priorities, lifestyle, budget and goals. They have a wealth of experience in the automotive finance industry to assist you. In addition, we work with several different lenders around the Wake Forest area in order to be able to cater to a wide variety of customers. For now, we invite you to learn more and get a better understanding of the difference between buying and leasing a Mitsubishi model.

Why Lease?

Leasing is a popular option when it comes to financing a new vehicle. Perhaps its top benefit is affordability. It typically costs less each month to drive a leased vehicle around Cary and beyond, than a financed one. The reason for this is that your payments aren't going toward the principal balance, and you won't own the vehicle at the end of your contract. Rather, a lease allows you to drive a new, well-equipped Mitsubishi car and pay only the amount of anticipated depreciation that occurs over the lease period.

This method appeals to many drivers who enjoy always being behind the wheel of a recent year model with the latest features. Leasing can also save you money on maintenance and repairs because you're not likely to encounter many issues in a vehicle's first two or three years on the road.

You should know that leasing does often come with some stipulations. Most leases have an annual mileage limit of some kind, and there may be penalties for any damage at the lease's end that is deemed to go beyond ordinary wear and tear.

Perks of Financing

On the other hand, lots of our customers prefer to own their Mitsubishi vehicle. They enjoy the sense of freedom that comes with knowing they aren't limited by the number of miles they can drive yearly through Durham and the surrounding areas or the types of modifications they can make to their ride. In addition, if you decide you need a different model before the end of your loan period, there's no penalty for early termination. It can also be appealing to view your vehicle as an investment, knowing you gain equity with each payment you make and that one day you'll be able to own your vehicle outright. Driving payment-free can certainly be a good feeling.

Financing a vehicle does often come with higher upfront costs in the form of a down payment. In addition, you can anticipate higher monthly payments than on a lease, and maintenance costs are your responsibility. The pros and cons of each method of financing should be weighed in order to determine your preferred option.

Apply for Finance Online

Has this information provided you with insight on which finance option best fits your needs? If you're still unsure, we welcome you to give our dealership a call or online message, and we'll put you in touch with a finance department representative to help clear things up. In the meantime, you can still apply online for Mitsubishi finance to get a jump on the process. Taking this step can simplify and streamline your vehicle shopping experience, saving you time and allowing you to focus on finding your next vehicle. On our website, you'll also find the latest finance promotions to save you money. Remember, don't hesitate to reach out. Whether you ultimately decide to opt for a Mitsubishi Outlander, Mitsubishi Eclipse Cross or Mitsubishi Mirage, our entire team is here to lessen the stress that can sometimes come with choosing and paying for a vehicle. We look forward to seeing you at our dealership soon.

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  1. WESTGATE MITSUBISHI

    4809 CAPITAL BLVD
    RALEIGH, NC 27616

    • Sales: (919) 872-1011
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  • Contact our Sales Department at: (919) 872-1011
  • Monday9:00am - 7:00pm
  • Tuesday9:00am - 7:00pm
  • Wednesday9:00am - 7:00pm
  • Thursday9:00am - 7:00pm
  • Friday9:00am - 7:00pm
  • Saturday9:00am - 6:00pm
  • SundayClosed