Lease or Buy at Sheridan Ford

January 3rd, 2019 by

Both leasing or financing/buying a car have certain advantages. Whether you decide to lease or buy, doing either one at Sheridan Ford is easy! We want you to drive home in the right car for you. When you lease a car from a dealership, you’re “borrowing” it in a sense. When you finance the vehicle, you own it, and don’t have to return it.

Benefits of Leasing

Leasing is a great option if you want to drive a new car with a more limited budget. With a lease, you will typically make a smaller down payment, and monthly payments are also much lower. A lease is always covered by a warranty, so you won’t have to worry about big repairs. However, you will still have to pay for routine maintenance like oil changes and tire rotations out of pocket. Leasing a vehicle with Sheridan Ford also means having the opportunity to drive a new vehicle more often, since leases generally last 36 months.

However, leasing does bring some restrictions. You cannot customize the car as it must be returned in the same condition (with the exception of wear and tear) you first leased it. You are also restricted to certain mileage per year and may have to pay for any over-mileage. Another drawback is you simply don’t own the car. But, if you like the lower monthly costs and like getting behind the wheel of a new car often, leasing may be the option for you!

Benefits of Buying

With a lease, you pay less in the short term, but when you buy, you pay less in the long term. When you buy the car, it’s yours. So, once you finish making car payments (or if you are able to buy it outright), you won’t have to worry about paying for the car after a few years. Another benefit of buying is that you always have the option to sell it. You also don’t have to worry about mileage restrictions, or any other restrictions for that matter since the car is yours.

Buying is costlier upfront than leasing, however. You may make a bigger down payment, and monthly payments may be more. The warranty will also run out after a certain amount of time, which means you might have to pay out of pocket for an expensive repair. However, owning the car gives you more freedom to do what you like with the car.

Once you decide whether you want to lease or buy, visit Sheridan Ford to see all the new Ford models for sale!

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