Buy vs. Lease : Find out which option is right for your next vehicle from Franklin Ford - serving Franklin, North Attleboro, Milford, Bellingham, Attleboro, MA and Woonsocket, RI
Here at Franklin Ford, we've been doing business with customers from Franklin, Attleboro, Bellingham, Milford, North Attleboro, MA and Woonsocket, RI for quite a few years now, and in all that time we've heard all the most common questions folks have when car shopping. But by far the most common question we get, particularly from first time shoppers is, "What is the difference between leasing a Ford and getting a car loan to buy one?" We know that the auto finance process can be tricky, but this is one aspect of it that's pretty easy to explain. That's why we've outlined the differences between the two options to help our drivers to decide which one is right for them.
Leasing
Leasing a Ford vehicle is an exciting opportunity for those who're looking to get behind the wheel of a new car, but aren't necessarily ready to commit to anything long term. With a lease agreement, drivers can choose a new Ford vehicle and agree to a lease term, mileage limit, and buyout price at the start of contract. Typically ranging in length from 24 to 36 months, this option often allows lower monthly payments than the alternative, meaning many drivers will likely be able to driver "more car" for their money. However, going over mileage or outside of normal wear and tear can mean significant fees, so responsible upkeep is a must. That said, thanks to lease terms being shorter than those of loans, most systems are typically covered under warranty, making it easy to take care of unexpected maintenance issues. Best of all, at the end of the lease term, you'll have the freedom to return your vehicle to us here at Franklin Ford to get a new lease, or buy it out at the price agreed at lease signing.
Car Loan / Buying
Getting a car loan and buying a Ford vehicle is just what it sounds like. You will own your vehicle outright, and that comes with all the freedoms and responsibilities you'd expect. For one thing, you'll be able to drive your car as much as you'd like with no mileage limits, and customize it to your heart's content with accessories and parts. However, while we offer competitive deals on Ford financing and car loans here at Franklin Ford, this option means typically higher monthly payments than leasing, and maintenance costs beyond the warranty period will have to be paid out of pocket.
Visit us!
Whether you choose to lease or get a car loan, you can rest assured you'll get a great deal at Franklin Ford. And with our comprehensive selection of the latest and greatest new Ford models for sale near Franklin, Attleboro, Milford, Bellingham, North Attleboro, MA and Woonsocket, RI, we're confident you'll find a vehicle to love when you shop with us. Feel free to visit our Franklin, MA Ford dealership to explore your options today!