Leasing vs Buying at Avis Ford

Many car shoppers at one point or another wonder about leasing vs buying. It's a question you're likely asking, and it's a good one to think over. After all, some big benefits and drawbacks come with either option.

The way we address leasing vs buying at Avis Ford is to approach each situation as unique. After all, your financial standing and goals do not match everyone else's perfectly.

Leasing Advantages

Once you understand the pluses of leasing, it's easy to see why people choose this option. After all, Ford lease options can be incredibly compelling.

By leasing, you enjoy more car. Because you're not financing the full value of a vehicle, but only a portion, you pay less each month. That means you can choose to keep the same monthly payment as you would when buying, but get a more expensive car. For example, you might decide to lease a Ford Mustang, instead of buying a Ford Focus. Or you can get a Ford Focus Titanium, instead of a Ford Focus S.

If you always love having the latest and greatest, leasing gives you just that. You can only lease new vehicles, which means cutting-edge features, technologies, and designs. It also ensures your car meets the latest set of safety standards, which is incredibly reassuring.

You don't spend too much on repairs. Since the vehicle is newer and has low miles, the factory warranty covers many problems. That might not be the case in an ownership situation.

Leasing Drawbacks

Of course, leasing isn't all positive. Some aspects of leasing can make it not as attractive of an option. Really, it all depends on your situation and preferences. In other words, leasing isn't a one-size-fits-all solution.

With a lease, if you exceed the yearly mileage allotment, there's a financial penalty. If you must drive long distances often, such as if you commute far each day, leasing might not be a practical arrangement.

You can't modify your car however you like. Depending on how your lease is written, you may not be able to change anything about your ride, like add aftermarket wheels. If customizing a vehicle holds high value in your mind, this is a big drawback. Some people are content to enjoy factory or dealer-installed options, making leasing a better fit.

If life takes a turn, a lease might not accommodate that. If you own a vehicle and, for example, have a child, you can sell or trade it in for something larger. In a lease, that might not be an option. The same thing goes if you need to move long distance.

Buying Advantages

When you buy a car, you get plenty of freedom. Ford purchase options are all about this basic principle.

Nobody can penalize you for driving too far. You can have it serviced anywhere. You have the option of using aftermarket parts for maintenance or repairs. Paint it a different color. Install modifications. When it's your car, you get to call all the shots.

Buying Drawbacks

One of the biggest minuses when it comes to owning a vehicle is the risk of repairs. If something breaks and it's not covered by the warranty, you're on the hook for the bill. Depending on the vehicle you own, how you use it, and other factors, repairs can add up to quite a bit of money.

Ultimately, buying vs. leasing really is all about your individual situation. Just because one works for some people doesn't mean you should do the same. Contact our finance team for professional guidance with this important decision. 

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