Should You Buy or Lease a Ford?

couple getting into a 2018 Ford EcoSport 

Shopping for a new vehicle for Cheektowaga commutes is exciting for most shoppers, but the decision to lease vs. buy your next vehicle can prove difficult! There are benefits to both buying and leasing, but it helps to think about what your requirements are, what you can afford, and what type of vehicle you'd be comfortable driving. Explore the benefits of leasing and buying with Basil Ford, below!

Advantages of Buying

  • No Mileage Restrictions: If you do quite a bit of driving in Lancaster, you'd likely be better off if you decide to buy your vehicle. There are mileage limits on leased vehicles, which could hold you back if you love to be behind the wheel.
  • Total Ownership: When you buy a vehicle, it becomes yours to own completely, meaning you're free to do with it what you want! You can make all the modifications you please, without having to worry about breaking your lease.
  • Customization: If you have big plans to make your vehicle stand out among the rest, you'll have total freedom to make those cosmetic or mechanical changes as you wish.
couple buys car
  • Ability to Sell: When you buy a vehicle, you're not locking yourself into a lease agreement, meaning you can turn around and sell the vehicle whenever you'd like.
  • Financing Options: Leasing a vehicle certainly isn't the headache some make it out to be, but financing a car is still a more straightforward process, and it's usually the best option for individuals who are worried about a less than stellar credit score. You can also trade in your vehicle to offset the cost of your purchase.
  • Less Cost Over Time: Initially, buying a new vehicle is more expensive than leasing. However, you can end up saving money down the road as your vehicle becomes less expensive to own the longer it is in your possession.

Advantages of Leasing

  • Lower Payments: Monthly and down payments are far less costly when you lease a vehicle rather than buy it.
  • Lower Sales Tax: Depending on what state you live in, leasing a vehicle comes with dramatically lower sales tax. In fact, in some areas, you'll only have to pay tax on the amount you put into your down payment and for the monthly payments.
  • Trade-Ins: As soon as your lease agreement ends, you'll enjoy a very simple process to get your next vehicle. Simply head to the dealership, take care of any fees that remain, and drive home to Depew in your next brand new vehicle!
  • Great Coverage: When you lease a vehicle, stressing over warranty coverage and maintenance will be a thing of the past! Any issue that arises during your warranty will be fully covered, so long as you don't exceed your mileage limit.
  • Options: When you lease your vehicles, you'll always be able to drive the latest models with updated tech features, like Ford SYNC® 3.
  • High Approval Rate: Getting approved for a lease is far easier than getting approved for a loan.

Lease or Buy Your Next Ford Vehicle with Basil Ford!

Whether you choose to lease or buy your next Ford SUV or other Ford model, your decision should ultimately be based entirely on your unique financial situation and personal driving needs/habits. Remember: What works for some doesn't always work for others!

Contact the team at Basil Ford with any remaining questions you have, and be sure to browse our latest Manager's Specials for a great deal on a new Ford model, like the 2019 Ford Escape or the towing ready Ford Explorer. Want to get the financing process started at home? Apply for credit online!

You can also lease or finance a Ford commercial work truck, depending on your demands.