Knowing if buying or leasing a new car is the best option for you can be confusing. Gulf Coast Ford is here to make it easier to decide! There are benefits to buying but there are also advantages to leasing. The final decision should be based on what you?re looking for and what you need. Take a closer look at buying vs. leasing a Ford below, where you can see the straight facts, pros and cons of both options. If you have any further questions, don't hesitate to contact us. Our staff is always on hand to provide the information you need.
When you decide to buy a new Ford, no matter if you've paid in full upfront, making monthly payments or financing, the vehicle is yours. Since the vehicle is in your name, you are free to do whatever you wish to your vehicle, inside and out. This includes custom paint jobs, installing a new radio, exterior add-ons and more. If you also intend to keep a vehicle for the long run, buying becomes the more economical route than leasing. Even if you're financing the vehicle, once you submit your final payment, you're done and it's yours for as long as you want it.
Mileage is also a key factor in deciding if buying or leasing is the better option. If you have a large commute or make long trips often, buying is the way to go as there are no mileage restrictions when you own your Ford. Leases usually come with low-mileage restrictions, so unless you don't plan on driving very often, it's not the optimal choice.
Although leasing a vehicle comes with a set of certain restrictions, there are still several advantages it has over buying. For starters, leasing allows you to have the keys the latest vehicles in the market for less than the cost of buying. Short term leases are usually 3 years long, so you can keep switching to the newest model every few years when your current lease ends. You also won't have the added stress of trading in or selling your vehicle, all you need to do is return it to the dealership. Another benefit of leasing includes lower maintenance and repair costs, as most leases offer warranty coverage for services.
Lastly, leases usually do not require a down payment like buying does. However for both choices, if you want lower monthly payments you can always choose to pay more upfront.
Both options present their own set of pros and cons, but ultimately your driver needs will help you make the right choice. If you're still unsure about which option to choose, get in touch with us at Gulf Coast Ford today!