Should You Buy or Lease?

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If you're looking to bring home a new Ford to your Collinsville driveway, then you've come to the right place. Based on your current financial situation, you may be weighing the options of lease vs. buying for your new Ford Escape or Ford Mustang. In the following guide, the finance experts at Auffenberg Ford O'Fallon detail what sets each financing option apart so you can decide what's best for you. 

After you settle the question, "Should I buy or lease?" contact our dealership for more information on the process. Or, set everything in motion today when you apply for financing online!

Benefits of Buying

The most compelling reason to buy rather than lease is that you get full ownership of the vehicle. Full ownership means you can cruise to and from Fairview Heights and at your own accord while you enjoy:

  • No mileage restrictions
  • Your own maintenance schedule
  • Modifying, decorating, and customizing your vehicle as you please
  • Ability to sell whenever you choose 
  • Straightforward financing options
  • Options to refinance 
  • Less cost over time

Benefits of Leasing

You could argue that the most compelling reason to lease is that you don't have full ownership of the vehicle. When you lease your new Ford from Auffenberg Ford O'Fallon, you'll enjoy the following benefits of leasing: 

  • Lower down payments
  • Lower monthly payments
  • Less sales tax (in most states)
  • Simple trade-in process
  • Great warranty coverage
  • Easy maintenance
  • Access to the newest models
  • High approval rates, even for those with little or no credit

It is important to note that most of the lease benefits are yours if you stick to the terms in your leasing contract. This often includes a monthly mileage limit. If you exceed the mileage limit, you will more than likely be charged a fee for every mile you drive over your limit. If you realize you are driving your leased car more than you expected, there is the option of a lease buyout. One of our finance experts would be happy to further detail this process for you. 

Talk to the Finance Experts at Auffenberg Ford O'Fallon

Now that you've had a chance to review some of the differences between lease vs. buying, do you have a better idea of what will work for you? If you would like to have a more in-depth conversation about financing options or car insurance, our finance team is more than happy to guide you. Our goal is to help you hit the streets of Granite City behind the wheel of a car you love at a price you can afford.

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