Should You Buy or Lease a Ford? Learn the Difference to Make the Right Decision for You!

Before you can take home a new Ford, you must decide whether you will buy or lease it. Both financial options have their own pros and cons, so we advise you to learn the difference. To help Ashe County Ford Inc. customers like you reach the right decision, we have provided a basic overview for your alternatives below. Review the details carefully, and when you have made your choice, make an appointment for a consultation at our Ford finance center in Jefferson, North Carolina.

Buying a New Ford - Pros and Cons

Buying a new Ford will make you the titleholder. In other words, the model is yours to keep. As the sole owner, you can make modifications and drive as many miles as you please. You also have the freedom to sell or trade at any point, giving you a return for your initial investment. 

Few drivers pay for a vehicle outright. Most prefer to obtain an auto loan from a lender of their choice, such as a local bank, instead. The monthly payments for financing a car are higher in comparison to a lease, but these installments will eventually cease, which means you will benefit from long-term savings.

Leasing a New Ford - Pros and Cons

Leasing a new Ford will give you the opportunity to try out different models. In fact, many first-time shoppers choose to sign up for a new Ford lease because the contract is limited to a few years at most. When the lease period ends, you can return the vehicle, exchange it for a newer product, or purchase it by paying it off. 

In this way, you are more likely to find a product that satisfies you. Plus, you will save more immediately because monthly payments are significantly lower. Do keep in mind, you are to maintain its condition and mileage as per the terms of agreement or will have to pay penalty fees.

Buying VS. Leasing Key Takeaway

Ultimately, the difference comes down to ownership. When you buy a new Ford, you are claiming the model as your own. When you lease a new Ford, you are borrowing it from our dealership for a time. The expenses for each vary as a result, so it is up to you to determine which route will suite your personal budget best.

Go Over Your Financial Options with an Advisor at Ashe County Ford Inc. Today!

Now that you know the distinction between buying and leasing, you can proceed with your auto finances with greater confidence. Of course, you are welcome to consult with our representatives for advice if you are not sure which option to choose. You can reach out for assistance simply by contacting us online or by phone. 

With our experts supporting you, finding the right financial option will be much easier. Not to mention, they can help you tailor payments according to your needs. This is how Ashe County Ford Inc. makes shopping for a new Ford in Jefferson worthwhile!