At Peruzzi Mazda of Fairless Hills, PA, we understand that financial circumstances can change. Many customers often inquire whether they can refinance a Mazda lease to accommodate their new situation. While a lease is not the same as a car loan, there are certain avenues worth exploring.
The Nature of Leases
Leasing is fundamentally different from owning. When you lease a Mazda model, you’re paying for the depreciation that occurs during the lease term, not the entire value of the car. This is why the concept of “refinancing” is not applicable to leases in the way it is to loans.
Refinancing Alternatives
If you find yourself needing some financial breathing room, consider these alternatives:
- Transfer Your Lease: Some leasing companies allow you to transfer your lease to another qualified individual.
- Early Buyout: You could purchase the vehicle for the residual value as stated in your lease contract and then proceed to refinance this new loan.
Keep in mind that both of these options may incur additional fees. Remember to always read the fine print and consult with our Mazda financing department before making any decisions.
Takeaways for MAZDA Lease Holders
It’s crucial to understand your contract thoroughly before proceeding with any changes. Though refinancing a Mazda lease is not possible, there are still alternative routes to ease your financial burden. Talk to our team to learn what options are available for you.
Explore Your MAZDA Lease Options at Peruzzi MAZDA
While you may not be able to refinance your Mazda lease in the traditional sense, there are still ways to make adjustments that can better align with your financial circumstances. Whether it’s a lease transfer or an early buyout, Peruzzi Mazda is here to guide you through the options that best suit your needs.
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