Buying vs. Leasing a New Ford in Lake Charles, LA
Are you looking to buy or lease a new Ford for sale? Our team at Bolton Ford in Lake Charles wants to help you, our Lafayette, Sulphur, Orange, Beaumont, and Port Arthur, TX customers, understand the advantages and disadvantages of both buying and leasing, so you can make the next decision on your next F-150, Expedition, Explorer or other new Ford purchase!
Pros and Cons of Buying a New Car
When you make the decision to buy a car, you will fully own it. Cars can be purchased with a loan or cash, whatever you prefer. When you buy your new Ford, you have 100% responsibility over it, so if that is something that interests you, buying may be for you! Below are some pros and cons of buying a new Ford.
Pros:
Total ownership of your vehicle
Free to customize it how you want
You have the option to sell it whenever you want
No limits to mileage
Financing can most times be easier than leasing
Cons:
It is more expensive at first
Depreciation when the car leaves the lot
Bigger down payment
Pros and Cons of Leasing a New Car
Leasing a Ford can have a few more restrictions, but this may be what you’re looking for. When you lease, you’re ‘renting’ this vehicle for an extended period of time and/or miles. You wouldn’t pay the full price like you would for buying. Instead, you would make a monthly payment.
Pros:
No worries about the vehicle's value going down
Lower monthly payments
Latest features in the new vehicles
Always have coverage
No worries about trade-in, just return the vehicle to the dealership
Cons:
You don’t own it
Have to have a higher credit score
You will always have a monthly payment
Limits to mileage
The team here at Bolton Ford hopes this guide will help all of our customers reach an informed decision when it comes to buying versus leasing. If you have any further questions, please feel free to reach out to us at 337-317-5889. When you’re ready to shop, you can find us at 1500 East College Street Lake Charles, LA 70607. Our dealership is a proud server of our neighbors in Lafayette, Sulphur, Orange, Beaumont, and Port Arthur, and we invite you to check out our new Fords and pre-owned inventory today!