Exploring the Two Options

Everyone who embarks on the journey to purchase their next vehicle, comes across the same crossroads: “Should I buy or lease?”. Some consumers have their minds made up one way or the other, but others are not so sure. Here at Marlow Ford, we have flexible options for you no matter which path you decide, and we’re here to help you each step along the way. Dive in with us as we explore the differences in buying vs leasing.

Should You Lease?

Leasing a vehicle is one of the easiest paths to driving the car of your dreams. Leasing involves selecting a new vehicle and making monthly payments on it for a period of time before returning it and starting the process over. Lease terms often span between 24 and 36 months but can be shorter or longer depending on the particular lease agreement. Lease payments are often much less than the payments of a traditional vehicle purchase because a car lease only involves you paying for the depreciation of the vehicle while you have it, plus minor fees. Leasing is also a great option for many drivers because it allows them to always drive late model vehicles. Always wanting to drive a late model vehicle is about more than vanity, as late-model vehicles often come with the latest safety features, and gives drivers the peace of mind that their vehicle will likely remain under factory warranty throughout the duration of their lease.

Though leasing is a great option for many drivers, it’s not for everyone. Leasing a vehicle often comes with certain limitations. During your lease period, you will be allotted to drive a certain number of miles per year to ensure that the vehicle remains in good condition to ensure it does not depreciate excessively. Though there are certain limitations on leasing a vehicle, it has remained a great option for drivers around the country, and our experts would love to help get you into your next vehicle lease!

Should you Purchase?

Buying a car involves either paying cash or getting approved for an auto loan to purchase a vehicle. With a vehicle purchase, you buy the entire vehicle and may keep the vehicle as long as you’d like once you’ve repaid the entire loan amount. Loan terms differ and can range from two to seven years, but the benefit is that there are no mileage or modification restrictions. A car loan is often more expensive than a lease because you pay the entire purchase price of the vehicle, but offers its own benefits because drivers can enjoy their car payment free after they repay their loan.

Your Next Ford is Waiting!

At Marlow Ford, we encounter drivers who weigh buying vs leasing on a daily basis, and we offer viable options for both paths. Regardless of your choice on the buying vs leasing, we work closely with Ford Finance, and our experts strive to get you approved for a loan even if your credit score is not where you’d like it to be. Come into our dealer, test drive your favorite model and discover how easy it is to drive home in your dream car.