What Are the Differences Between Leasing and Buying?

At our dealership, we are often asked what the best financing option is: leasing or financing? There is no objective answer to this unfortunately, as both plans offer you excellent benefits. It’s entirely dependent on your budget and your driving habits.

However, there are some clear differences between these two financing plans.

Purchasing, for instance, is the most flexible in terms of your driving experience. Since you will own the vehicle, you can take it anywhere you want and won’t have to worry about any requirements that stop you from doing so. However, purchasing also involves taking out an automotive loan and getting your credit checked.

Leasing is more flexible from a financial perspective. Since leasing is a fixed monthly price, it often offers you better pricing opportunities that are more affordable. However, leasing also comes with specific parameters: you have a set amount of free miles you can use throughout the life of your lease, and you have to keep the car in good condition.

Regardless of which option you choose, our financing team will be here to help answer your questions and assist you with all of your automotive needs! Just stop by Derrow Shirkey Ford Lincoln, located in Montpelier, OH. Our team would be proud to help you schedule a test drive with your favorite model on our lot.

Categories: Finance
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