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Financing vs. Leasing a Car in Walpole, MA

The Mitsubishi Model Lineup parked on a salt flat

After you have chosen your Mitsubishi vehicle from either our new or used vehicle inventory, you might find yourself wondering, “should I finance or lease my vehicle?” If you are unsure about what each option has to offer, our finance vs. lease overview will help you to make the decision that is best for you. If you have any questions, please contact us online or give the Walpole Mitsubishi team of Walpole, MA a call at (877) 236-4836.

 

A Mitsubishi Cross driving down a city street

 

What to Expect When You Finance

There are both pros and cons when it comes to financing your vehicle. At Walpole Mitsubishi, we offer select auto finance specials for qualified buyers. Keep on reading to learn about the various advantages and disadvantages that come along with financing.

Financing Advantages

Financing Disadvantages

  • The car will be completely and utterly yours after you pay off your loan
  • You may sell or customize your vehicle anyway you want
  • No mileage restrictions
  • Monthly payments can be higher compared to leasing
  • Usually can’t upgrade to the latest models as fast and often as you can when you lease
  • Responsible for all repairs/damages

 

A Mitsubishi Outlander leaving an office building

 

What to Expect When You Lease

As with financing, there are also pros and cons when it comes to leasing your vehicle. We also offer several lease specials for your new Mitsubishi. View the table below for an overview of auto leasing advantages and disadvantages.

Leasing Advantages

Leasing Disadvantages

  • Upgrade to a new vehicle every few years
  • Lower monthly payments compared to financing
  • Covered under warranty
  • You’re only making payments based on the depreciation during the time of your lease rather than the entire value of the car
  • Mileage restrictions
  • Ending a lease agreement prematurely can result in a fine
  • Excessive damage or wear can result in additional fees

 

Finance or Lease Your Next Vehicle with Walpole Mitsubishi

We hope this buying vs. leasing table has been of great help. Have you decided whether you are going to finance or lease your Mitsubishi vehicle? Regardless of which option you choose, the finance specialists here at Walpole Mitsubishi of Walpole, MA are here to assist you every step of the way and answer all of your questions.