When it's time to get a new set of wheels, Brinson Ford Lincoln of Athens gets this question all the time: Should you lease or buy? Each option has its perks and cons, and this Ford dealership in Athens, Texas, is here to showcase what leasing and buying can do to help you make the perfect decision!
What are Leasing Pros?
What are the perks when it comes to leasing? If you want a new Ford Escape, what are the benefits if you lease? Here are three pros when it comes to renting your Ford.
Newer Models with the Latest Tech: Leasing lets you open the door to a broader range of vehicles than buying does. Why? Leases usually run for 24 to 36 months, meaning when turning your Ford in, you have a fresh lineup to choose from with next-gen entertainment and safety features you can use!
Warranties that Cover Repairs: When you lease a new F-150, Ford’s new vehicle warranty could cover service or maintenance during your leasing, leaving more money in your pocket and the chance to dodge hefty repair bills!
Lower Monthly Payments: Drivers love getting lower monthly payments than traditional buying. Why? When you lease, your money goes towards the depreciation of your Ford, not the sticker price, which means leasing can be the perfect decision for drivers with a tight budget!
What are Leasing Cons?
Where there’s one side, there’s another, and leasing is no exception. When you lease a vehicle, there are various factors to take note of that traditional buying doesn’t.
Mileage Limit: Did you know that when you lease any vehicle, there’s a chance it has a mileage limit? Leases come with mileage restrictions that limit how far and often you drive, and if you go over, you’ll have to pay a fee for every mile you go over. So, if you lease a new Bronco Sport and want to take it on a thrilling adventure, check to see how much you can drive first.
Wear and Tear and Other Fees: Unlike buying, when you lease a vehicle, it must be in excellent condition throughout your lease, and if there’s damage, you’re on the hook for it. Also, if you want to turn in your current lease for another model, you’ll have to pay an early termination fee.
No Ownership: You may have gotten the picture already, but leasing does not mean owning. When you lease a vehicle, you don’t own it, and your monthly payments don’t go towards ownership. That means you can’t sell, trade, or customize your ride, as the dealership still owns it.
What are Buying Pros?
If you’re still on the fence about leasing and buying, don’t worry. Brinson Ford Lincoln of Athens knows that making financial decisions requires thorough inspections, so here are the perks you can expect when purchasing a car.
Full Ownership: Unlike leases, once you pay off your loan, you have a vehicle to do with whatever you like! Moreover, our dealership offers fantastic financing options near Tyler, TX, without a Buy from Home feature or quick approvals, and we can work with drivers with little to no credit!
Can Sell or Trade Wherever: Traditional buying allows you to sell or trade your vehicle wherever possible! You can trade to our dealership using our Value Your Trade feature or sell to a friend or family member!
No Mileage Limit: Do you want to take your Ford Maverick on a thrilling adventure across the country? You can, as when buying a vehicle, you don’t have to adhere to mileage restrictions that could damper your journeys.
