Should I Lease or Should I Buy? Navigating Auto Finance 101

A new car should be cause for celebration, but for many shoppers, the world of auto financing can present a lot of confusion and can even seem daunting. That’s not how we want your experience to be with us here at Don Wood Ford Lincoln Inc., so we wanted to share this short video from Ford that explains some of the key differences between leasing and buying to consider before you make your final decision. Check it out below, and feel free to come see us or give us a call at (888) 757-2156 if you have any questions.

When it comes to auto finance, there are two paths you can take: buying or leasing. The one you choose depends largely on what you want out of your vehicle ownership experience.

• Buying: when you buy, you own the car, which means you can drive it far and wide for as long as you’d like. If you’ve been dreaming of hot pink decals, go for it, because it’s yours! Something to bear in mind, however, is when your warranty expires, you become responsible for the majority of your vehicle’s service and routine maintenance.
• Leasing: when you lease, things work a little differently. You decide how long you want to keep the vehicle for and how many miles you think you’ll drive it (terms of the lease), and sadly, no hot pink decals. You can’t customize the vehicle, but you do have the luxury of simply turning it in at the end of your lease and even moving on to another new Ford vehicle. Another great aspect to consider: because lease terms tend to be on the shorter side, it’s likely your vehicle will fall under warranty for the duration of your lease, which means repairs and maintenance may just be covered for you.

Of course, no one besides you knows which financing option is best for your situation, but you’re always welcome here in our Athens, OH showroom to speak with our financing experts to help you reach your decision. Now that you’ve learned some key differences between leasing and buying, when you find the perfect Ford car, truck, or SUV, you’ll be able to get the ball rolling on financing or leasing quickly and easily, which will have you out there rolling on the roads faster, too.