One of the reasons why many people decide to lease a car is so that they can try out a bunch of different models. It’s not uncommon, however, for someone to decide at some point that the car they’re leasing is perfect and that they would rather own it.
If you’re in this situation with your Mazda lease, the good news is that you will have a chance to stop leasing and start financing. You can do that by answering two key questions.
How Much Time Remains on Your Lease?
The first thing to think about with our lease is when it expires. The easiest way to turn leasing into owning is to wait until it ends and then start the buying process.
Once you know the asking price, you can either pay for the car in cash or take out a loan. If you opt for a loan, this will involve applying for financing and then figuring out a payment plan.
Do You Want to End Your Lease Early?
If you still have a lot of time on your lease or you’re just eager to own your car, you will be able to end the lease early with a buyout option.
There are some things to keep in mind, however, if you choose this option. For one, you may have to pay the early termination fee, which can be steep. You might also have to cover the lease payments that are still left.
If you’re ready to own your leased car, Freysinger Mazda can help simplify the process. Contact us if you have any questions or to get additional information.