New Car Leasing vs Buying

Why Should You Lease a New Car?
If you like to drive newer, safer, more reliable cars, but prefer not make a considerable down payment every 3-4 years, and also don’t travel an enormous amount of miles every year, then a new car lease might be best for you. Leasing is intended for people who prefer to bypass the annoyance of selling and buying every time they want to drive a new car.

Why Buy a New Car?
Conversely, if you like long term relationships with a greater sense of commitment and ownership, then buying could be what’s better for you. Car-buying is typically best for consumers who will not mind driving the same car for more than five years or even until the vehicle is no longer suited for the freeway.

Buying vs Leasing: Which One Is Right for You?
Knowing the pros, cons, and overall benefits of buying vs leasing a car, truck, or SUV is imperative. Be sure to look at monthly payments, vehicle ownership, repair costs, and potential savings when considering the best new vehicle financing type for you.

Buying: Ownership vs Leasing
When considering vehicle financing, new car or truck ownership surely comes along with many advantages, most associated with outright ownership of the car. You may not be aware, however, there are also a few nice advantages to leasing, as well. It’s essential to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A precise examination of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the perfect choice between leasing and buying a new car, truck, or SUV.

Monthly Payments
Car, truck, or SUV lease payments are often less expensive than auto loan and car financing payments as the standard lease contract is pretty much renting with the option to buy out at the final payment of your lease term. Consider when leasing that you are going to need a good credit score, and will be asked to carry comprehensive and collision insurance, although the same can be said for the lowest rate auto loans. Though it could likely add to your monthly payments, it is also smart to select a model with the features you need or want, as personal satisfaction is often priceless.

Maintenance & Repair
Auto leases often include regular vehicle maintenance & repair. It’s important to remember this when calculating monthly costs of ownership vs leasing. Regardless of which make and model you choose, mechanic bills are an unpredictable cost that can rapidly add up. And for those of us who are not certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing is likely the best option for peace of mind.

Savings vs Investment
In general, a new car, truck, or SUV lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning outright ownership of the value of the car at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for going over mileage, terminating the vehicle lease early, or putting on excessive wear and tear. For maximum investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.

Ford Lease and Finance Offers In Houston TX
Sterling McCall Ford knows that choosing the right Ford car and financing option is never easy. Our team of experienced Ford lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Houston, TX. We look forward to serving you.