Lease Vs. Buy: Which One Should You Choose?

If you've been thinking about buying a new vehicle, you've probably asked the question, "Should I lease or loan?" While both options are great vehicle financing opportunities, it can be difficult to figure out which one is right for you. Answer these following questions to see whether you should buy or lease your new Ford vehicle.

1. Do you want to own your car? - Owning a vehicle comes with many benefits and many responsibilities. Because it's your car, you can do with it as you please – drive it as many miles as you'd like, add the accessories you desire, and keep it as clean as you'd prefer. Owning your vehicle also means you're responsible for any maintenance or repairs (once the new car warranty expires, that is).
2. Do you want to save money in the long run? - When you purchase a loan, you'll have larger upfront costs, but, once the vehicle is paid off, you won't have any more payments to worry about.
3. Do you want the option to sell your car whenever you'd like? - If you loan, the car is yours to trade in or resell whenever you'd prefer. It's an added investment for you to have access to.
4. Do you want a short-term commitment? - Most leases have a three-year term limit. After the lease has ended, you'll be able to upgrade to a new model or go a different route without dealing with reselling your car.
5. Do you want to pay less upfront? - Lease payments tend to be less expensive than loan payments. Most leases also require less money upfront, giving you some breathing room with a down payment.
6. Do you like to have things taken care of? - Your leased vehicle will most likely be covered by the new car warranty for the entirety of the lease. This gives you peace of mind throughout your drive.

If you answered YES to questions 1, 2, and 3 – You'll want to consider a loan.

If you answered YES to questions 4, 5, and 6 – You'll want to consider a lease.

Whichever option you choose, feel free to contact our Fred Beans Ford of Newtown dealership near Newtown, PA, Trenton, and Feasterville to learn more about your financing options.