The Differences Between Leasing and Buying a Vehicle in Athens, AL

If you are looking to acquire a new Ford vehicle, you will need to decide whether to lease it or buy it outright. Your decision will likely be based on how long you'll own the vehicle, your budget, and your driving habits. Let's take a closer look at each of these finance options and learn how to decide which one best meets your needs. 

What to Know About Leasing a New Ford Model

Leasing a vehicle means that you are paying for the right to drive it for a certain period of time. A lease agreement will cap the number of miles that you can put on the vehicle in a given year, and you may be required to pay for any excess wear or damage incurred during the contract period. When the lease deal expires, you can choose to turn the car in or buy it for the stated residual value.

Drivers around Madison, AL, love leasing new Ford vehicles because their monthly payment is typically smaller than a car loan payment. Besides saving money each month, a lease gives drivers from Decatur, AL, the freedom to get behind the wheel of the newest Ford models every few years.

What to Know About Buying a Car

Buying a car near Harvest can be ideal for those who drive more than 10,000 miles a year or who drive in areas where minor accidents are more likely to occur. This is because there are no limits to how you can use a vehicle after taking ownership of it.

A lender will look at a variety of factors when deciding whether to approve your auto loan application. These factors may include your income, credit score, and employment status. It is generally in your best interest to make a down payment as it allows you to accrue equity in the car quickly.

Apply For Financing Today

Whether you buy or lease your next Ford vehicle, you can't go wrong! The options are all about your preferences, and our financial experts can help you determine which option is best suited for your lifestyle. We invite you to contact us today to learn more or get an estimated trade-in value on your existing vehicle.

Contact Information

Purchase Timeframe

Your privacy is important to us.

Our Dealership takes your privacy seriously and does not rent or sell your personal information to third parties without your consent. Read our privacy policy.

Contact

Finance Hours

  • Monday 8:30 am - 6:00 pm
  • Tuesday 8:30 am - 6:00 pm
  • Wednesday 8:30 am - 6:00 pm
  • Thursday 8:30 am - 6:00 pm
  • Friday 8:30 am - 6:00 pm
  • Saturday 8:30 am - 6:00 pm
  • Sunday Closed