Car Buying or Car Leasing, that is the Question …

Car leasing and buying are a big investment, with a lot to consider. You’ve probably worried about how to handle the payment process in the past. Stressing out about leasing this or buying that can be one of the biggest factors deterring potential new buyers, so Flagship Ford would like to make it easier for you by taking some of the guesswork out of the equation. Here’s our top things to consider when deciding whether car leasing or buying a new Ford is best for you.

 

Car Buying/Financing

 

If you’re comfortable with making a more long-term investment in a vehicle, and you want more freedom on the road to do as you please, buying and financing is your best bet.  

Buying or financing a car means that it yours to do what you want with, including sell and replace. You can swap to a different vehicle on your own timeline, whether that means in a few months or a few decades later. Of course, the trade off is that you must handle the sale of your existing vehicle yourself, rather than simply returning it to the dealership.

Buying is usually the more expensive option, as you’re factoring in the full cost of the car, not simply chasing depreciation as leases do. That price difference pays for the freedom to do what you want, especially when you want to go to a new vehicle. Want to trade it in early? There are no fees for that. Sell it to someone else? There’s nothing stopping you here.

Customization and usage are limited only by your imagination, not a contract with strict rules and fines. If you want to go off road and risk a few dings to your vehicle or throw on a slick aftermarket spoiler and exhaust system, there’s no middle man to tell you you can’t do that or hit you with a fine down the line.

 

Car Leasing

 

Think of leasing like picking up a book from the library; when you lease a vehicle, you’re agreeing to borrow it for a set period of time, albeit with a price tag.

Since you’re simply borrowing the vehicle from Flagship Ford, you’ll have to return it to the dealership when your agreement expires, usually two to three years. This makes changing vehicles a breeze, you get to walk away from the vehicle with ease. Changing over to a new lease means facing only a few potential end-of-lease costs. When you own a car and want to make a swap, you face the struggle of finding a buyer to take it off your hands.

A big appeal of car leasing is the ability to change cars every few years. After your agreement ends, you’re free to start a new lease with a Ford of your choosing. If you decide you want a different vehicle before the contract is up, you’ll face early termination fees, but it is still an option. Either way, frequently getting behind the wheel of a new Ford is far easier when leasing.

If saving money is a concern, car leasing is a great option. Upfront, a loan to buy out a vehicle can be slightly cheaper, as leasing includes potential fees such as acquisition and security deposits; however, month-to-month bills are often noticeably lower for leasing agreements than loan payments.This price difference is due to leases only dealing with the vehicle’s depreciation, plus interest charges (rent charges), taxes and fees. Loan payments face the full weight of the vehicle’s cost, a far bigger burden to bare.

Car leasing does mean some restrictions in how you use your vehicle.  Wear and tear, customization and mileage can negatively impact your payments and fees when returning the vehicle. Leased vehicles must be in salable condition nearly equivalent to how you bought it when returned, which means you can’t get too crazy with a leased vehicle. Leaseholders must avoid damage to the vehicle, using unauthorized parts and racking up excessive mileage if they want to avoid costly fines. Of course, for drivers with a more sensible approach to ownership that will keep the vehicle in good condition, these are minor concerns at best.

 

Making the Choice

 

To sum it all up, consider the following when deciding between buying or leasing your next Ford.

Leasing is a great option if you’re concerned about:

• The ability to easily change vehicles every few years
• Saving money on monthly payments.
• Keeping your vehicle in like-new quality.

Buying or financing could be a better option if you’re more concerned about:

• Having the freedom to add or change parts and go wherever you want.
• Having the freedom to sell or trade your vehicle when you want, where you want, on your terms.
• Keeping your vehicle for long periods of time.

 

Ready to start your car leasing or buying experience? Check out our inventory at Flagship Ford! 

 

Tags: buying, car, cons, financing, leasing, pros
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