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Buying v. Leasing

lease or buy a car

Are you ready to shop for a new Ford car, SUV, or truck, but not sure whether to buy or lease? Buying and leasing are both great options when choosing a new vehicle, but maybe one of them best fits your needs. Our professional staff will be more than happy to help you make the right decision for your style of living. Come by Route 23 Auto Mall, and we can go over your budget and the exterior and interior needs of your new vehicle. Before making that final decision, here are some pros and cons when it comes to lease or buy a car:

Buying Pros

- It is yours 100 percent and you have the freedom to customize the interior or exterior.

- Your adventure can be extended anywhere, thanks to not having mileage limits.

- Once you pay off your vehicle, you could either leverage the value when you sell it or can trade it in for a new set of wheels.

- It is less money in the long-term.

Buying Cons

- Higher monthly payments.

- You are responsible for out-of-warranty repairs.

- Your monthly payments are typically higher than leasing a vehicle.

- You will have to pay interest on the entire cost of the vehicle, and more sales tax.

lease or buy a car

Leasing Pros

- Car payments, upfront and monthly, are typically less.

- Every few years, your vehicle is replaced with a new model and is available with the latest technology.

- Warranty coverage is guaranteed.

- Trading the vehicle is easy.

Leasing Cons

- Mileage restrictions are usually between 10,000 to 15,000 miles.

- You will have a monthly payment until the lease term ends.

- A lease contract is more expensive and difficult to break.

- You cannot customize the vehicle to your needs.

There are benefits and limits to both, but it is ultimately up to you to decide which one will best suit your lifestyle. When making that decision, be mindful of what works for your budget, mileage, if you want to trade in your car every few years, or customize your thrilling new Ford model. Let our friendly team at Route 23 Auto Mall help you decide what Ford model will transform the way you drive. Schedule a visit with us today!

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lease or buy a car