Should You Buy or Lease Your Next Ford?

2018 Ford F-150 Truck

To Buy or To Lease? If That's Your Question, We Have the Answers

Here in the finance center here at Mike Bass Ford, we're used to answering a lot of questions from our customers. That's what we're here for.

One of the biggest questions people always seem to have is whether they should lease their next new car, or purchase it. Each one has it benefits and its drawbacks, and which one is best for you really comes down to your lifestyle, your budget, and your personal preferences. Let the auto financing experts at Mike Bass Ford help you decide.

Benefits of a Lease Program for Your New Vehicle

  • When you lease a vehicle from a dealership, you do not own the vehicle, the financing company does (Ford Credit in this case). Think of it as a similar arrangement you would have with a property owner from whom you're renting an apartment. After your lease payment schedule is complete, you have to return the vehicle to a dealership or purchase it outright.
  • When you lease vehicles, you get to choose a brand-new model to drive every couple of years.
  • With most lease programs, you'll be able to get a more-expensive model with high-end features and amenities, for less money, than you might be able to afford with a loan.

Benefits of a Purchase Agreement for Your Vehicle

  • When you take on a loan and sign a purchase agreement on your vehicle, you get to keep it and do as you want with it once your payment schedule is complete, including reselling the vehicle.
  • When you buy your vehicle, you get to personalize it with all the custom-ordered accessories and parts you want. With a lease, you're not allowed to personalize the vehicle, and it must be returned to the dealership in the same condition in which you got it.
  • With a purchase agreement, there's no limit to how many miles you're allowed to drive every year. By comparison, with a lease, you're only allowed to put a predetermined number of miles on the car per year. In fact, you'll have to pay extra money if you go over that amount.

Financing Advice You Can Count on at Mike Bass Ford

The next time you're in the market for a new car, trust the financing center at Mike Bass Ford in Sheffield Village. We can guide you toward the perfect deal for you, one that won't wreck your bottom line, and one that works best for your needs and your budget.


Contact our Finance team today for help in choosing the best option to fit your lifestyle!


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