When it's time to return your lease Ford, you have the option of purchasing your lease, leasing a new Ford or purchased a new Ford. Should you lease or buy? Both have advantages. Our Town & Country team offers the following quick rundown.
Benefits of Leasing
Leasing terms usually last two to three years. Monthly payments are typically lower, making this a great option for economic reasons. The use of a leased vehicle for business qualifies as a tax deduction since part of your lease payments support this expense. The shortness of lease vehicle terms may be preferable for those seeking temporary options. Plus, you get to lease or buy a new vehicle every few years, enjoying a vehicle that has no wear, no mileage, the latest tech and advanced safety.
Benefits of Buying
Buying a vehicle almost always entails the use of an auto loan. Terms can span up to 72 months, presenting the opportunity for a lower monthly car payment and an addition to your credit history. When you finish paying off the loan, the vehicle is yours. There are no mileage limits. Best of all, buying a vehicle gives you the right to customize any trim exactly to your preferences and requirements.