Should I Buy or Lease my Ford?
There are plenty of factors to consider when it comes time to shop for your next vehicle. Cargo space, fuel economy, and safety features are all important, but the most vital element to consider before finalizing everything is the decision to buy or lease. Not sure which option is right for you? Never fear! The experts at our Ford Finance Center near Belle Vernon, Mt. Pleasant, Youngwood, and Greensburg, PA, are here to help. We’ve put together a detailed list below, outlining all of the benefits and drawbacks of buying and leasing your next Ford vehicle. When you’re ready to get your financing journey started—or have any questions along the way—our C. Harper Ford team is here to help.
PROS OF LEASING A NEW FORD
There’s no shortage of reasons to lease your next Ford vehicle. Leases are essentially treated as rentals. So, naturally, they represent much less of a commitment as a purchase, and provide drivers much more financial flexibility. On top of that, some of the additional benefits of leasing a Ford vehicle include:
- Typically lower payments/down payments
- Can drive a newer model more frequently
- Normal repairs are generally covered by a warranty
- Easy to return after the lease ends
- Option to consistently drive the newest Ford models and vehicles
A lease can typically range from anywhere from 12 months to around three years. So, if you’re looking to get behind the wheel of something new on your next lease, it won’t take very long.
CONS OF LEASING A NEW FORD
Of course, there are also some natural drawbacks to leasing a Ford as well. Along with not having complete ownership over the vehicle, here are some other cons to leasing:
- Extra fees if you exceed mileage restrictions
- Can’t make modifications to the vehicle
- Responsible for excessive wear and tear fees
- Costly charges for ending the lease early
- Can’t build equity
Overall, if you’re looking to build equity, or make changes to your vehicle, leasing may not be for you.
PROS OF BUYING A NEW FORD
Now, with a purchase of your next vehicle, ownership is all yours. You’ll have complete control of your Ford, and have a whole new slew of decisions ahead of you.
There are other benefits to buying, such as:
- You own the vehicle
- There are no mileage restrictions
- The vehicle is yours to customize however you see fit
- You can sell or trade the vehicle whenever you want
- Can gain equity
Another primary benefit of buying for some drivers is the long-term commitment. If you’re in love with a specific Ford and are looking forward to driving the vehicle for years to come, you’ll want to buy it.
CONS OF BUYING A NEW FORD
You likely understand the drawbacks of purchasing your Ford vehicle. However, if you’re still not sure—and are leaning toward leasing,—some reasons you should avoid buying include:
- Large initial down payment
- Monthly payments and interest are higher
- Can be a hassle to sell or trade in
- You are responsible for all repair costs
- Can develop negative equity
Again, if you’re someone who wants to drive something new every few years, then buying probably isn’t the right call for you.
BUYING & LEASING AT OUR FINANCE CENTER
At this point, you probably have a much better idea of whether you’d like to buy or lease your next Ford. Whether you decide to purchase or lease one of the many new Ford vehicles for sale on our Uniontown area lot, the C. Harper Ford finance team is more than ready to help you out! The experts at our Ford finance center have years of experience, as well as the resources needed to assist you.
No matter your situation, our team will do everything in our power to find and secure the perfect solution for your car financing needs. In just one meeting, you’ll have the chance to establish your needs, and chat with our team on which buying path makes more sense for you.
Our team can also introduce you to our online financing suite if you’re looking to buy or lease a Ford from the comfort of home. Like this buying vs. leasing comparison, we have a slew of online buying resources, including our finance application, Kelley Blue Book® Value Your Trade tool, and Request a Quote form.
LEASE OR BUY YOUR NEXT FORD VEHICLE
With the help of our exceptional leasing and purchasing options, auto shoppers around Belle Vernon, Mt. Pleasant, Youngwood, and Greensburg, Pennsylvania, can finally realize their dream of owning a new Ford vehicle!
Contact us online at C. Harper Ford to learn more about the leasing or car-buying process. Our financing professionals would be more than happy to answer any and all questions you may have!