Getting a new car is exciting, but we understand it can also be overwhelming. You have a lot of decisions to make, including how you plan to pay for it.
We’re outlining the pros and cons of buying a Ford vehicle versus getting a Ford lease at Mac Haik Ford to help you decide which route is best for you.
Leasing a Ford Vehicle
An auto lease is essentially the same as borrowing a vehicle. With a lease, you set up a predetermined term with our dealership that indicates how long you want to drive the vehicle. At the end of your term (which typically lasts two or three years), you can opt to buy the vehicle or return it to our dealership.
There are several benefits to leasing a Ford vehicle, such as:
- More affordable auto payments
- More options for shoppers with a limited budget
- Less repair and maintenance costs
Buying a Ford Vehicle
With an auto loan, you’re borrowing money from a lending institution to buy a vehicle permanently. You can choose the length of your term, ranging anywhere from two to eight years. Then, you will make monthly payments until your vehicle is paid off in full.
Like leasing, there are also several benefits to buying, such as:
- Owning the vehicle outright
- Building up equity that you can use later if you decide to trade in
- No restrictions or mileage limits, plus endless customization options
Want to learn more about whether buying or leasing is right for you? Our Ford dealers near Round Rock, TX can help. We can walk you through our entire finance process and find a payment plan that works for you. Come see us soon!
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