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Buying vs. Leasing

Finance Paperwork with Glasses

As you’re researching how to get behind the wheel of your next vehicle around Port Orange, you’re likely wondering whether to buy or lease. The answer to the question of buying or leasing a car in Florida depends on your situation. Buying and leasing provide distinct perks, and you can decide the best path for you based on your needs and desires. Contact us after checking out our quick guide to understand more about buying or leasing a car in Florida!

Buying a Car in Florida

  • Less Expensive Over Time: Although buying a car in Florida is more expensive initially, with complete car ownership, your vehicle becomes less expensive over time compared to vehicle leasing.
  • No Mileage Restriction: If you’re frequently driving around Ormond Beach and Palm Coast, you’ll want to think about buying a car in Florida. Without the mileage limits on leased vehicles, you’re free to drive as much as you’d like.
  • Vehicle Financing: Buying a car in Florida is simpler for those with difficult credit scores. Financing also allows you to refinance your vehicle loan to decrease your interest rate and monthly payments.
  • Total Ownership: Buying a vehicle leads to complete ownership, unlike leasing. You can also modify the vehicle as you’d like without the restrictions of a lease.
  • Salability: Without being locked into a lease, you can sell your vehicle as you choose.
  • Modifications: If you’re going to modify your vehicle, you’ll want to purchase the vehicle so that you can freely customize your vehicle.

Leasing a Car in Florida

  • Vehicle Selections: Leasing a car in Florida allows you to change your vehicle every time you update your lease consistently. Our Daytona Mitsubishi finance center allows you to enjoy the perfect vehicle and options for you near Deland!
  • Lower Payments: Leasing a car in Florida allows lower down payments and monthly payments compared to purchasing.
  • Extensive Coverage: Warranty coverage and maintenance are cheaper and easier with a lease than purchases, as every issue covered under your lease agreements (as long as you don’t go over the mileage limit) will be easily addressed under your warranty.
  • Lower Sales Tax: In most cases, you’ll find that leasing a car in Florida lowers sales taxes. You’re only required to cover taxes on monthly payments and down payment amounts in particular areas.
  • Vehicle Trade-In: Wondering how a vehicle trade-in works? When you change your lease agreement, it’s simple to get your next vehicle lease with a Value Your Trade option. After covering any remaining fees, you can get behind the wheel of your next leased vehicle!

Explore Lease vs. Buying at Daytona Mitsubishi

Whether you choose to buy or lease around New Smyrna Beach, you’ll want to consider your best options based on your financial needs and situation. Our finance team is here to help you get behind the wheel with the option to apply for financing online. Discover our national offers to make getting behind the wheel even easier, then visit us to explore your next new vehicle on terms that work best for you!

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