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Should I lease or buy my Mitsubishi?

We are proud to offer our customers a wide range of financing options when they choose to find their next car at Michaud Mitsubishi. In fact, 99 percent of our customers get financed, despite their credit history! One of the options we offer is to lease a Mitsubishi. While leasing may not be for everyone, it does offer some pretty enticing benefits.

  • Lower payments: Since you are only paying for depreciation on the car while you drive it, your monthly payments will be lower than if you decided to finance and buy a new vehicle. This makes leasing a great option for those looking to drive a nicer, newer car without a large monthly payment.
  • Free Maintenance: Most leased cars are still under warranty. All repairs you may need will be taken care of for you at our state-of-the-art service center in Danvers.
  • Option to Drive Newer Vehicles: If your budget isn’t what you wish it could be, leasing gives you the option to drive a newer car or SUV at a lower payment and trade it in for an even newer car when your lease is over.
  • Smaller (or No) Down Payment: You might not have to pay anything out of pocket outside of the first monthly payment to drive a leased vehicle off the lot. This is a great option if you haven’t been able to save long for your new car.

Of course, leasing does offer some drawbacks. Here are a few:

  • Mileage Limits: Most lease agreements have a cap on the miles you can put on the car during the duration of your lease. Leasing is not a good option for you if you like to take road trips or have a long commute to work.
  • No Options for Customization: You don’t own your leased vehicle; you’re in effect renting it. That means you cannot customize the vehicle to your liking and could be charged for any changes to the vehicle outside of normal wear and tear.
  • You Won’t Own the Vehicle: While you may have the option to purchase your vehicle at the end of your lease agreement, the payments you’re making aren’t towards you owning the vehicle. That means, you’ll never drive payment free or be able to sell the car on your own.

Are you ready to discuss whether leasing or buying is right for you with our finance specialists? Call 978-774-4040, stop by our dealership, or fill out our online credit application to get started. We are your “feel good dealership” for a reason. We will make the process of leasing our buying your vehicle as hassle-free as possible. Browse our new Mitsubishi inventory now to find your New Outlander, Outlander Sport, Lancer All-Wheel Drive Sedan, or maybe the Very Economical Mirage!