Is Leasing a Ford Right for You? Pros and Cons

Pros of Leasing

Cheaper Costs

When you lease a car, you’re only paying for the proportion of time that you’ll be using it for, which means that the monthly cost is typically lower. The upfront costs are often less, too, making it a budget-friendly way to get behind the wheel of a new car.

Routine Maintenance Included

Routine maintenance such as oil changes and tire rotation helps to keep cars in prime condition and needs to be carried out regularly. Most lease packages include routine maintenance as standard, so you won’t need to pay out for the usual expenses of servicing your car.

Regular Access to New Cars

Ford technology is constantly advancing, which means new and exciting features are regularly included or made available on the latest models. When your lease expires, you can opt to sign a lease on a brand-new model, giving you access to the latest innovations.

Multiple Ford Leasing Options

When you purchase a car, it’s yours until you decide to sell it, but leasing offers multiple options. When the lease expires, you can choose to hand the car back and walk away, or you can sign another agreement for a new car. If you love the car, you can choose to purchase it, either during your lease or at the end of the term. Talk to the dealership when setting up the lease to ensure it’s structured to give you the options you want.

Cons of Leasing

Mileage Restrictions

The terms of a lease specify how many miles are included before extra costs start to apply. For many drivers, the allowable mileage is more than sufficient to cover what they need throughout the year. However, for high-mileage drivers, this restriction may mean that leasing isn’t the most cost-effective option. Before making a decision, talk to the dealership about alternative leasing packages that offer a higher mileage allowance.

Penalties for Wear and Tear

Leasing a car is the equivalent of borrowing it for a specified period of time. This means when it comes to returning it, the car needs to be in good condition, without excessive wear-and-tear. The terms of your lease will specify what’s reasonable, but you won’t be penalized for normal wear and tear that always occurs over a car’s lifetime.

Leasing is a flexible option that works well for many drivers, but it won’t be right for everyone. There are many other pros and cons to consider, so drop by Coughlin Ford of Circleville in Circleville, OH today to find out more.  

Tags: Auto Finance, Circleville Ohio, Columbus Ohio Ford Dealer
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