Should I Buy or Lease a Car?

Should you buy or lease your next car? Many Wall Township and Tinton Falls drivers find themselves asking this question as they begin the search for a new vehicle at DCH Ford of Eatontown, and we’re here to shed some light on the difference between leasing vs. buying. While both options have their advantages, you might find that one suits your needs better than the other. Read our leasing vs. buying comparison below, and stop by our showroom to find out why now is a great time to buy or lease a new car!

The Benefits of Leasing 

Why should you consider leasing? Leasing is a short-term option that is more flexible than financing. When you lease the car, you essentially rent it for several years at a time. This can be a great option if you don’t want the long-term commitment of a financed vehicle. Here are some points to keep in mind:

• Affordability: Your monthly payment amount is based on the depreciation that is expected to occur over the duration of the lease term, which means you’ll likely pay less than you would for a financed vehicle.
• Flexibility: After your contract ends, you have plenty of lease-end options to explore: leasing another car, buying your current vehicle, renewing your lease, or simply returning your leased vehicle to the dealership.
• Warranty: Most leases last the duration of a bumper-to-bumper warranty. Though the dealership will often require you to make scheduled repairs and maintenance, it is generally covered under warranty.

The Benefits of Financing 

Why should you consider financing instead? Financing is the more popular and traditional option in Red Bank, and it carries a lot of long-term benefits for those ready to make the commitment.

• Ownership: You’ll eventually own the car completely, which means greater freedom—including zero mileage limits and zero restrictions on customization.
• Resale Value: Because you’ll own the car, you’ll also be able to sell it at the price of your choosing if you want to upgrade.
• Value: If you can afford the up-front costs, buying a car is a better long-term investment. You’ll eventually own the vehicle, which means you’ll have a car with zero payments.

Explore Leasing vs. Buying with DCH Ford of Eatontown 

So, should you buy or lease a car? There’s no wrong answer, so feel free to explore leasing vs. buying further with our finance department in DCH Ford of Eatontown. Contact us with your questions online or visit us in Eatontown to discuss the best solution for your wants and needs.