There are many schools of thought when it comes to leasing versus buying a new vehicle
. Some individuals swear by the benefits of leasing and would never consider purchasing a new car or truck. There are also those who cannot conceive the purpose of "renting" a vehicle that you will not have ownership of at the end of the lease term. Which group is correct?
Virginia Ford dealers feel both groups could be correct, depending on the individuals needs and budget. Here we look at why leasing can be an affordable option for certain individuals.
Lower car payments- When you lease a Ford from your local ford dealership, you are basically paying for the use of that vehicle. Where car payments consider the purchase price, sales tax, fees and interest, your lease payment is paying for the value of the vehicle (including depreciation) for the lease period. This results in lower payments which are more affordable to individuals on a tight budget.
New car for a fraction of the cost- When you lease you have the opportunity to drive a new car or relatively new car all the time for a fraction of the cost of buying the same vehicle new.
Lucrative incentives- There are often lucrative incentives associated with leasing that used to be reserved for those who were purchasing a vehicle. Some of these incentive can greatly reduce how much you will pay for the use of your leased Ford.
It is important to talk to your Ford dealer regarding what options are available to you before you decide whether leasing is right for you. After carefully crunching the numbers you will have a better view of which option meets your needs.