When it's time for you and your family to get into a new vehicle there is one big decision you must face. Should you buy or should you lease? Each option comes with its own set of benefits and depending on your financial situation, leasing could be the better way to get yourself behind the wheel of a brand-new Ford vehicle right here at Sherwood Ford. Let's take a look at a couple of benefits that come with leasing a vehicle.
When you lease a vehicle, you're only paying for the depreciation that occurs as you drive the vehicle over an agreed upon amount of time, plus fees. At the end of your lease term you can either choose to purchase the vehicle at the remaining cost. Or choose a different vehicle to purchase or lease.
Because of this, leasing allows you to drive a brand-new vehicle every time the lease ends. There is no pressure to keep the vehicle after the lease ends, so if the new model has features that you would like to check out, feel free to switch to that one instead! This way you'll always have the best of the best.
Another great thing about leasing a vehicle is that the payments will generally be less expensive than financing for a new one. This is perfect if you have a small down payment saved up since the payments are generally lower anyways. The only way to get a lower payment while financing a vehicle is with a large down payment or a large trade-in.
Finally, when you lease a vehicle, it is usually covered under warranty for any unexpected repairs during the lease. You'll still need to pay for things like an oil change and regular stuff like that, but if life ever decides to throw you a curve ball, you should be covered. When leasing you need to remember to properly maintain and document any service for the vehicle throughout the duration of the lease. If you don't do so, it could result in fees when the lease is over.