When it comes to choosing between buying a car and leasing, it can be a tough call. Buying involves a higher cost every month, but in the end, you own the vehicle. A lease offers lower monthly payment for a shorter period of time. Here is a look at a few of the positives of each of these ways of getting a car.
A larger pool of vehicles to choose from and attractive finance rates make many leases look like great deals. Low-interest rates have carried over into car leases helping to moderate the cost. This lease is another way that a company finances a car. Leased cars have a low allowance for mileage, allowing only 10,000 miles in a year. If you drive a lot, this option may not be the best for you.
Buying a car gives you ownership of the vehicle and you can keep it as long as you want it. You will need a down payment to purchase a vehicle. Your loan payment will likely be higher than a lease.
There are benefits to both leasing and buying a car that you should think about before you take the plunge. Hopefully, this information helps you make your decision. Come by and see us here at Northside Ford Lincoln for more information today.