If it’s been a while since you last purchased a car around the Harlingen-area, it’s understandable if you can’t remember the differences between leasing vs. buying. At Tipton Ford Brownsville, we offer a great selection of new and pre-owned vehicles, and we want to break down how each strategy can help you! Below, we explore the benefits of leasing vs. buying in greater detail. When you’re ready, give us a call or reach out online for a test drive.
Should I buy or lease a car around San Benito? First, we need to discuss how leasing vs. buying compares. When Brownsville buyers decide on leasing a new Ford, they will rent the car for several years. While you won’t be able to build equity or sell your vehicle, you only will have to pay for the depreciation that occurs over your lease term, meaning your monthly payments are lower and your down payment smaller.
You also won’t have to pay as much sales tax and have more flexibility with your model. When your lease ends, you can renew it, swap it out, end it, or finance the financing value of your lease.
Now that you know what leasing a new Ford can involve, let’s see how buying a new Ford works in terms of financing. When you finance your vehicle, you will take out a loan on the vehicle’s full value to eventually own it. Your Ford model’s full value will be more than the depreciation over a temporary lease, so you will end up making a larger down payment, paying more in sales tax, and making larger monthly payments.
The biggest difference with buying a new Ford is that you will be able to sell the car at any time and recoup your investment. Financing is the more cost-effective strategy, yet it will require bigger upfront costs, monthly, and a greater commitment on your part.
Should I buy or lease a car? The choice is entirely up to you and the finance experts at Tipton Ford Brownsville can help! We’ve been helping Harlingen and Weslaco find their next Ford model for many years! Be sure to check out our new and pre-owned vehicle specials to see how much you can save. Test drive your next Ford with us today!
