Denton Ford
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Sales: 877-861-7041 | Service: 877-861-7041 | Parts: 877-861-7041 | 1207 Double Hills Road, Denton, MD 21629
Sales: 877-861-7041
Service: 877-861-7041
Parts: 877-861-7041

Should I Buy or Lease?

Should I buy or lease my next Ford from Denton Ford

When it’s time to upgrade your vehicle, payment options can be rather overwhelming. It’s hard enough determining which car you want to drive, let alone deciding how you’re going to pay for it. Your Ford dealer near Annapolis understands it can be stressful choosing whether to buy or lease the new Ford you’ve long desired, and our team assures you peace of mind. With years of expertise in this matter, our friendly team of professionals will gladly elaborate on all of your options regarding buying or leasing, and help you find a payment plan that suits your lifestyle.

Buying a Car

Are you wondering whether or not you own the car you are buying? If you purchase your car using cash or finance it by making monthly payments, either way, you’ll eventually own the vehicle free and clear. If you opt to make monthly payments and finance your vehicle, then you’ll have to meet all of the obligations required by the lender before you fully own your vehicle. These responsibilities may include putting down a minimum down payment and fulfilling your monthly payments on time. Simply put, if you fail to meet the lender agreement terms, you may be subject to a repossession.

Cost Up-Front 

To finance your vehicle, your bank will most likely request you make a down payment. If you have a car to trade-in, you could always opt to apply the value of your trade-in toward your next vehicle’s equity. The down payment ultimately depends on your credit score, along with whatever requirements your lender recommends. To learn more about your up-front cost, speak with the financing team at your local Ford dealership. 

Future Value of My Vehicle

The future value of your vehicle depends on how well you maintain your vehicle throughout the ownership. The worth of your car will determine how much you will be able to sell it for in the future. To ensure your vehicle stays operating at its optimal level of performance for many years to come, schedule your Ford maintenance appointments here at your local Ford dealership. Our expert service technicians will be sure to keep your purchase looking showroom ready.

End of My Payments

Once you have paid off your vehicle in full per your contract, this completes the buying process. You’ll have 100 percent ownership of your car, and your lending institution will soon send your Lien Release as proof. When you buy a new Ford, or used car, truck, or SUV, and fully pay it off, once you receive your Lien Release from the lender, you’ll have complete ownership of your vehicle.

Leasing a Car

If you are wondering whether or not you own the car you are renting, when you lease a car, you do not own the vehicle. The payments you make toward your lease do not actually go toward your vehicle. Instead, you are paying for the use of the car. The financial institution that you lease your Ford through is the actual owner of that vehicle. When you sign your lease agreement, you’ll typically pay less per month than if you were to finance your vehicle. 

Cost Up-Front

Although you are not required to make any amount of down payment, you are required to pay the first month’s payment, a variable security deposit, your vehicle acquisition fee, plus any taxes or fees on the vehicle. You can always lower your overall monthly payments by simply paying more money upfront to lease your car. 

Future Value of My Vehicle

You do not own your vehicle at the end of your lease term, so you are not able to sell the vehicle you leased. It is important to maintain the value of the Ford model you lease, because, within your lease agreement, you have mileage limits and wear-and-tear guidelines. If you exceed the limits stated in your lease agreement, it could cost you extra money at your lease-end. You can always opt to finance the vehicle you leased as one of your three lease-end options, though in most cases, the financing institution remains the owner of the leased vehicle. 

End of My Payments

Once your lease term ends and you’ve made your final payment, you have three options moving forward. Option one is to hand over your keys to your local Ford dealership. Option two is to begin leasing or financing a new model, essentially trading in your lease for a new lease or purchase. Your third option is to buy the vehicle you have been leasing, and we can help you set up a finance plan. 

We encourage you to chat with us in person about the various options available to you before you buy or lease your Ford, so we can help you set up your plan exactly the way you prefer. The knowledgeable team at your local Ford dealership is eager to assist you in getting behind the wheel of the new car, truck, crossover, or SUV you’ve always wanted. Buy or lease a Ford today!

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