Buying v. Leasing
Explore Your Options
Searching for a new car is the fun part, but now that you’ve found the car you want, you have some decisions to make. Deciding how you’re going to pay for your vehicle can be stressful, but it doesn’t have to be. At Wiscasset Ford, we have multiple financing and leasing options for you to choose from to make your car buying experience as easy as possible. Do you want to buy your new Ford outright, or are you considering leasing a car in Maine? We want to offer full transparency to our customers when it comes to their car buying experience, so consider the following pros and cons to buying or leasing a car in Maine with us.
Pros of Buying
Buying is often the first thing people think of when it comes to paying for their vehicle. There are certainly many benefits to this financing option:
– After you pay off your loans, you own the vehicle entirely.
– You can sell your vehicle or trade it in at any time.
– Your trade-in value can help with a payment towards a new vehicle.
– You aren’t constricted by mileage. Drive as much (or as little) as you want!
– You can customize the vehicle however you like.
Cons of Buying
Though buying is the more traditional route than leasing a car in Maine, it certainly has its downsides, as well. Consider this list of cons:
– Loan payments are often higher.
– You’ll have to deal with the hassle of selling or trading your vehicle when you want a new one.
– The vehicle depreciates substantially as soon as you drive it off the lot and within its first year of use.
– You’ll have to pay for required maintenance and repair costs.
Pros of Leasing
When thinking about your Ford leasing options, it is important to go over the benefits and downfalls of Maine car leases. Take a look at these benefits of leasing:
– Often lower monthly payments.
– Trading in is an easy process at the end of your lease term.
– You’ll be able to upgrade to a new Ford every few years.
– Routine maintenance and warranty coverage are included with your lease.
– You can drive a higher-priced vehicle with more features than you may typically be able to afford.
Cons of Leasing
Leasing a car in Maine may be the best option for you, but it still comes with cons of its own:
– You don’t own the vehicle, so you can’t customize it in any way.
– You can be charged if you end the lease early.
– You have no equity or future value in the vehicle.
– Most leases limit the number of miles you can drive in a year.
– You’ll have to pay for any damage that exceeds normal wear and tear on the vehicle.
Visit Wiscasset Ford
Though we can’t decide whether you should buy or lease a car in Maine, our finance experts are happy to help with any questions. We have many flexible financing and Ford leasing options available, so you can select a method that best fits your budget. Stop by Wiscasset Ford today to discuss your options for leasing a car in Maine and head out on a test drive.