Differences Between Leasing vs. Financing a Car in Union Grove, WI

The majority of customers to our Ford dealership in Union Grove, WI choose a payment plan when they need a new car, truck, or SUV. How much you will pay each month and for how long depend on the vehicle you choose, but it also depends on whether you are buying or leasing.

Buying and leasing differences extend beyond cost as well. If you are curious about the differences between financing and leasing in daily use, you can learn more about the pros and cons of both below. When you have a better idea of which you prefer, click over to our new vehicle incentives to learn what finance and lease offers are available now on your favorite Ford model.

Buying vs. Leasing a Car in Union Grove, WI


Leasing Advantages

  1. Leases are only for a few years at a time, so you can upgrade often, try out different models, and will always get to use the latest features and technology.
  1. Because lease payments are based only on the value of the car that is "used up" by you, rather than the full value of the vehicle, your monthly payments are much smaller. Lease payments of a luxury model can even be comparable to finance payments of a more reasonably priced vehicle, giving you more options in your budget range.
  1. When you lease, you will likely be under warranty the entire time, so you never have to worry about paying out of pocket for mechanical problems.

Leasing Disadvantages

  1. Leases include mileage limits, and if you go over, you can be charged when you return the vehicle. So if you're planning any road trips, you may be out of luck.
  1. Because you don't own the vehicle, it needs to be returned to the dealership in sale-ready condition. You will need to keep your lease vehicle clean, dent and scrape free, and on its maintenance schedule. Additionally, you can't add any equipment, accessories, decals, or bumper stickers.
  1. Although leases are short-term, they are not very flexible. If you get a new job and no longer need your car to commute, or move out of state and can't take it with you, or just decide it's not the right fit for your needs, breaking your lease early can come with costly penalties.

Buying Advantages

  1. The car is yours. You can drive it as far and as hard as you want.
  1. Again, the car is yours. You can add any accessories you like to personalize it, or add modifications and tuning kits to adjust the performance to your satisfaction.
  1. You guessed it; since the car is yours, you can keep it, sell it, or give it away whenever you please.

Buying Disadvantages

  1. Financing a car is almost always more expensive than leasing. You will make larger monthly payments, pay more in taxes, and will need to make a - sometimes large - down payment.
  1. Once the warranty runs out, you will be responsible for the cost of all repairs. If you purchase a pre-owned model, you won't benefit from a warranty at all.
  1. The large initial investment means that occasionally shoppers need to make compromises on the features they want in order to stay under budget, or don't upgrade as frequently as they might wish to.

Why Buy or Lease from Martin Ford

Our auto finance experts are talented at what they do, and more importantly, invested in making sure that you leave happy with the vehicle you've chosen and the payment plan you decide on. Our Ford dealership in Union Grove, WI is a low-pressure, customer-focused environment that you won't find at many other dealerships in the area.

Apply for financing from home to get the process started now, or call (888) 380-9176 to speak with an auto finance expert right away.

Buying vs. Leasing in Union Grove, WI

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