Leasing vs Buying

Here at Chilliwack Mitsubishi, we field all kinds of questions about financing vehicles. But the most common question
we receive is whether our customers should lease or buy their next vehicle. That’s why at Chilliwack Mitsubishi, we
strive to ensure that every one of our customers knows the facts about buying versus leasing. Our team is eager
to work one-on-one with you to find the best option for your lifestyle and budget, whether you lease or finance
your next vehicle.

Buying A Mitsubishi

  • If you like to keep your vehicle for as long as possible, then financing a vehicle is a great option
    for you. While payments are typically higher when purchasing, every time you make a payment you are
    building equity in your vehicle and eventually, you’ll own your vehicle outright.
  • Unlike leasing, there are no mileage restrictions when you purchase a vehicle. If you put a lot of
    miles on your vehicle, then buying is probably your best option.
  • If you keep your vehicle past the life of the loan, you’ll eventually be free of loan payments.
  • Insurance costs are generally lower on vehicles you purchase than on vehicles you lease.
  • You’re free to sell your vehicle at any time.
  • You don’t have to worry about accidentally spilling coffee on your carpet which might leave a minor
    stain. -Under a lease agreement, you’ll be held financially responsible for that stain when you turn
    your vehicle in at the end of the lease.
  • You can add accessories or make modifications to your vehicle when you own it.
Leasing A Mitsubishi

  • If you like to drive a new vehicle and are thinking of trading in your vehicle for a new model every
    two to three years, leasing is a great option for you.
  • Lease payments are typically lower than if you were to purchase the same car.
  • Lease programs that require $0 or little money down might be a good fit for you if you don’t have the
    cash on hand to make a large down payment.
  • Leased cars are typically covered under the manufacturer’s warranty for the duration of the lease.
    Such warranties are usually bumper-to-bumper and cover any needed repairs.
  • Leases are great if you want your vehicle to have the newest technology. Since you are always driving
    a car that’s only a couple of years old, you can rest assured that whatever model you lease, it will
    have the latest hi-tech options.
  • Try it before you buy it. You won’t have to worry about buyer’s remorse with a lease. At the end of
    your lease, you can always trade-in your vehicle for a model that’s more to your liking. By the same
    token, if you’ve fallen in love with your leased vehicle, you can exercise your option to purchase it
    when your lease is up.