Buy vs. Lease in Richmond, KY
Buy vs. Lease
Ford Leasing in Richmond, KY
You're more likely to buy
- When you lease a car, you are typically capped at 15,000 miles a year. Additional mileage can cost you up to 35 cents per mile. And that can really add up.
- If you like to personalize a car, this investment can be lost on a leased car.
- If you like the idea of ownership, you are less likely to be happy with the lease option.
- If you like the feeling of accomplishment that paying off a large purchase brings and should consider that when you lease a car, the payment ends only when you return the car.
- If the car you presently own is over 3 years old you are more likely a buyer. While not always true, you can usually drive for less if you're willing to buy and drive for at least 3 years.
- If you don't mind doing your own car repairs, you probably don't mind driving a car after the warranty expires.
You're more likely to lease
- Lease arrangements usually involve a 15,000 miles-per-year cap and charge for extra miles. If you drive very little, you may be a candidate for a luxury lease.
- When you negotiate a 24 or 36-month lease, you can be sure you'll always be driving a new vehicle.
- Although you need to maintain and repair your leased vehicle just as you would an owned vehicle, because you typically lease for 2 to 3 years, the car is normally under warranty.
- Many people prefer to drive a vehicle that is priced above their means and leasing provides the solution.
- If you don't mind not owning the car, you are free to enjoy the benefits of leasing like low monthly payments and a low down payment.
- If you own the company, and you use your car for business, check with your tax advisor. You may be able to deduct your auto expenses, including your monthly lease payment. And if the company you work for gives you a monthly car allowance, you may want to lease since you'll be able to drive a nicer car for a lower monthly payment.
Is it time for you to get a newer vehicle to make your daily commute more enjoyable? If you are looking to buy a vehicle, we have a great selection of vehicles, but if you are looking to lease for the time being, we also have a great selection to choose from. Gates Ford Lincoln will get you a great vehicle with a plan that is right for you! If you are looking for a vehicle to last you long term, buying may be the option for you. If you are only staying in the area for some time or are not interested in buying a vehicle, see what leasing a vehicle can do for you. Once you find the vehicle for you, be sure to take it for a test drive. After your test drive, be sure to stop by our finance department so our staff can give you loan options and answer any of your questions. Needing a loan? Get pre-approved today online through our pre-approval form portal on our website. Do you currently own a vehicle that you are looking to get rid of? Trade it in at our dealership today! We always have great deals happening, and Gates Ford Lincoln has an exceptional service department that handles any bumps that might happen down the road. Contact us today with any questions at Gates Ford Lincoln in Richmond, KY!