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Cash, Finance or Lease a Vehicle?

car finance questionsA question we all ask ourselves when buying a vehicle.

The outlook for economic growth and business confidence this year looks promising, and many people and business owners are looking at updating their vehicle or fleet.

Carol Barnett, Bay City Mitsubishi’s finance and lease specialist helps customers make better informed decisions.
“Although paying cash eliminates additional fees, it has an impact on people’s cash flow.  No interest will be earned on dollars that would otherwise stay in the bank or be invested,” she says.

A new car can be purchased by consumer credit, which essentially is the same as a payment instalment plan or a secured loan.

With consumer credit or ‘finance’ the individual will own the vehicle they are purchasing but they pay the money back to the finance company using the car as security.

Carol says “the great thing about finance is that you’re using someone else’s money to pay for your vehicle, freeing up your cash for other requirements or even emergencies.”

Buying a new vehicle with business credit or term loan is also a great option for business owners who don’t want to tie up their cash.

“Keeping bank facilities separate and available by opening up new lines of credit can be the right thing to do, and re-payments are always tailored to suit individual budgets and requirements”, she said.

Leasing is an attractive option for a business or GST registered individuals. There are a number of advantages to leasing, one being the protection of capital which can be invested or used elsewhere, another being potential tax advantages.
Business customers can choose a maintained or non-maintained operating lease. A maintained operating lease means that all servicing, registrations, warrants and maintenance costs are included in the monthly payments. Even tyres can be included.    

“Payments for leasing a vehicle and finance fees are often much lower than people think.”

Carol Barnett provides obligation free consultations at Bay City Mitsubishi.  Give her a call on (07) 577 3218 or email

View our latest finance and lease deals

At Bay City Mitsubishi we are the Mitsubishi specialists. As a locally owned and operated, Tauranga Mitsubishi franchise we pride ourselves in stocking a great range of new Mitsubishi cars, utes, SUV’s, 4WD and commercial vehicles. We also stock a variety of other quality used, NZ New vehicle makes.
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FREE Phone
0800 802 323 (07 578 0039)

Finance & Insurance: 07 577 3218

Service Centre: 07 577 3212

Parts: 0508 100 222

140 Cameron Road, 
Down Town Tauranga,
Bay Of Plenty - View Map
Monday to Friday 
8:00am - 5:00pm

Vehicle sales only:
Saturday 9:00am - 4:00pm
Sunday 10:00am - 4:00pm