Ford Leasing vs. Financing

Auto Financing in Cape Girardeau

When you're ready to buy your next vehicle at our auto dealership in Cape Girardeau, MO, one of the first decisions you'll have to make is how you'd like to pay for it. Leasing and financing are both options and each has its own advantages, and understanding how each works can help you decide on the best course that works for you and your budget and lifestyle.

Why Leasing Is The Choice For You

Leasing allows you to drive a new vehicle for a predetermined time, often two or three years, at a monthly payment that is typically less than financing. You can return the vehicle at the end of your lease, choose an even newer vehicle, extend the lease, or buy the vehicle you have been driving in some cases. Leasing works best for drivers who like to stay up to speed with the latest technology, safety features, and looks without the commitment of owning a vehicle in the long term. It is also a smart option for drivers who drive a steady annual mileage and do not feel the need to have to own an older car.

One benefit of leasing is flexibility. Since you're not committed to long-term ownership, you can exchange up to a new model with enhanced features every couple of years. Leasing is also attractive to individuals who would prefer to own a vehicle in its later and most reliable years, reducing the possibility of major repairs.

Why Financing is the Way To Go

Financing is when one borrows money to buy the car, and the intent is to own it outright after paying the loan. This is best for people who intend to keep their car for a long time, desire to customize it, or do not want any mileage limitations. When you finance, each payment contributes to equity, and once the loan is complete, you have years of driving without a monthly payment. You also get the opportunity to sell or trade the vehicle at any time, with control over when and how you move into your next vehicle.

The greatest benefit of financing is that you're accumulating towards sole ownership. Once you've paid back the loan, the car is yours to keep. Financing comes with unlimited mileage, an important consideration for drivers who drive a lot or do long commutes. Additionally, ownership means having the autonomy to make improvements or modifications according to your preference and taste.

Call us to Talk to an Expert

No matter if you choose to finance or lease, we will have options to fit any budget to help make the process work for your goals. Your driving style, how often you like to trade vehicles, and what you plan for your finances in the future will be important factors in this decision. By weighing the advantages and disadvantages of every strategy, you can select the most suitable payment plan for you and benefit from the rewards of car ownership that suit you and your lifestyle.