Finance vs. Leasing
If you are looking for your next vehicle, our award-winning Ford dealership near Southfield delivers variety. From our new Ford inventory to buying options, Avis Ford is dedicated to servicing you in the best way possible. Since we differ from corporate dealerships with multiple locations, Avis Ford hires sales people who simply bring you to the sales manager. With a more complicated buying process taking shape, our Jump The Line program helps you reserve your next Ford model as soon as possible with a prioritized direct dealership order.
When it comes to financing versus leasing, you may be wondering which option suits you better. If you have your eye on a brand new Ford car, truck or SUV, consider the following pros and cons of financing and leasing.
Ford Financing
When you finance a vehicle, you are making incremental payments (typically monthly) toward eventual ownership, with an average loan length lasting over 24 to 48 months. You are buying your Ford vehicle, but financing means you agree to pay for it in smaller installments rather than up front.
In other words, months and years into payment means you will eventually own the car you’ve chosen, meaning you can trade or sell it if you look to move on. On the flip side, making the final payment for a financed vehicle means your Ford is truly yours, retaining value even after you’ve paid it off.
Ford Leasing
Ford leasing is another great option to drive the vehicle you want. Leasing contracts are typically 24 to 40 months, with monthly payments made toward the vehicle. Perhaps the biggest disadvantage of leasing compared to financing is you don’t retain value following the final payment.
Leasing is essentially renting, and when your Ford lease is up, you no longer have the vehicle, nor the option to trade or sell. However, if you’re looking to have lower monthly payments, leasing holds a big advantage over financing. Leasing also allows you to drive different cars every few years, so if you don’t get too attached or simply enjoy automotive variety, perhaps leasing is your route to take.
Leasing also allows additional beenfits such as having your vehicle under warranty for the entire time you're driving, the option to switch to a new model at the end of the lease, and reduced maintenance costs due to warranty coverage and lower mileage.
Finance or Lease Your New Ford Vehicle with Avis Ford
Take home a new Ford vehicle by financing or leasing with our Southfield dealership. If you have any questions about financing, leasing or any of the vehicles we have in our new Ford inventory, be sure to contact us at Avis Ford.