​
​
Leasing a car from Northtowne Mazda in Kansas City, Missouri, offers a flexible and cost-effective way to drive a new Mazda. By leasing, you pay for the vehicle’s usage over an agreed period and mileage, rather than the entire purchase price.
How Does Leasing Work?
Leasing a car involves making monthly payments that cover the vehicle's depreciation over the lease term. This means you’re only paying for the portion of the car's life that you use, which often results in lower monthly payments compared to financing a purchase.
Lease Terms at Northtowne Mazda
At Northtowne Mazda, lease terms typically range from 24 to 60 months. Most customers prefer 36-month leases, which often align with the vehicle's warranty period, minimizing out-of-pocket repair costs. While shorter-term leases might be available through subleasing websites, our dealership focuses on providing the best value through standard leasing terms.
What Happens When Your Lease Ends?
At the end of your lease, you have three options:
- Settle and Walk Away: Return your Mazda to Northtowne Mazda, settle any final payments, and walk away.
- Trade and Start a New Lease: Return your vehicle and lease a new Mazda, taking advantage of our latest models and leasing incentives.
- Buy Your Lease: Purchase the vehicle if you’ve grown attached to it and prefer to keep it.
Ensure you return the vehicle with all original accessories, such as extra keys and floor mats. Be prepared for a disposition fee and any charges for excess mileage or wear and tear.
Mileage Limits on Leases
Leases come with mileage limits, typically between 10,000 and 15,000 miles per year. Higher mileage leases are available at a higher cost. It's crucial to estimate your annual mileage accurately, as exceeding the limit usually incurs a charge, commonly around $0.20 per mile.
Credit Score Requirements
To lease a vehicle from Northtowne Mazda, a good credit score is essential. Most leases are approved for individuals with a score of 650 or higher. The average score for lessees is around 745.
Benefits of Leasing a Mazda
Leasing offers several advantages:
- Lower Monthly Payments: Payments are usually lower compared to financing a purchase.
- Driving New Models: Enjoy the latest Mazda models with the newest technology and safety features.
- Minimal Maintenance Costs: Most leased vehicles remain under warranty, reducing repair costs.
- No Resale Hassle: Simply return the vehicle at the end of the lease term.
Understanding Residual Value
The residual value is the estimated worth of the car at the end of the lease. Leasing companies calculate this at the beginning, assuming the risk if the car’s market value drops more than expected.
Differences Between Leasing and Buying
Leasing differs from buying in several ways, primarily in terms of ownership, monthly payments, and end-of-term options. While buying involves higher monthly payments and eventual ownership, leasing keeps payments low and provides flexibility at the end of the term.
Modifications and Insurance
You can tint the windows of your leased Mazda, provided it complies with state laws. Factory accessories are allowed, but aftermarket modifications are generally not permitted. Comprehensive and collision insurance are mandatory, and gap insurance is highly recommended to cover any potential shortfall if the car is totaled or stolen.
Moving with a Leased Vehicle
If you move out of state, notify your leasing company immediately. Your vehicle must be returned to Northtowne Mazda or an authorized Mazda dealership at the end of the lease. Be aware that state tax rates and registration requirements may affect your lease terms.
Online Leasing
Northtowne Mazda offers online leasing options. You can get pre-approved and customize your lease from the comfort of your home, saving time and simplifying the process.
For more information on leasing a Mazda, visit Northtowne Mazda in Kansas City or contact us through our website. Enjoy the benefits of driving a new Mazda with the flexibility and affordability that leasing provides.
