• Main: (888) 437-9140
  • Internet Sales: (888) 427-1390
  • Service: (888) 431-6303

1207 S Lynn Directions Lamesa, TX 79331

Info

Buy vs Lease a New Ford or Lincoln Model

Have you found yourself unsure if you want to lease or buy your next new or pre-owned vehicle? Wondering what the difference between the two? You have come to the right web page. Below you find the clear distinction between leasing a vehicle or buying a vehicle to help you determine which is a better option for you.

Leasing

Jumping right to the point of leasing, you will make an agreement with us, the dealership, to take ownership for a set period of time in which you will pay a monthly payment for the vehicle. So if you like getting a car every three or five years than you should consider leasing. Listed are the pros and cons of leasing.

    Pros

  • Lower monthly payments with little to no down payment
  • You may be able to drive a better car for less money
  • Lower repair costs since you are under the vehicles included warranty
  • No trade in hassle at the end of lease
  • You will pay less in sales tax

    Cons

  • Limited amount of mileage per year. If you know that you drive more than 15,000 miles in a single year than you will need to watch your odometer to make sure you don't need to pay for extra miles Most often you will owe the dealership 15 cents for every mile over the amount you are allotted per year
  • You don't own the car and cannot modify the car since you must return it to the dealership at the end of the lease
  • If you want to get a new vehicle before your lease is up then you will most likely have to pay fees to get out of your current lease
  • Possible wear and tear charges

Buying

When you buy a car, truck or SUV you will own the vehicle once it is paid off. So in short you are the owner of the vehicle and not "renting" from the dealership.

    Pros

  • Once you are finished paying off the car you own it out right
  • You can save money in the long run by buying and having the car for many years
  • You can make as many modifications are you like
  • More flexibility to sell the car whenever you want
  • You can use trade in value to get a new car
  • No limit on how many miles you can drive in a year

    Cons

  • Possible to pay a higher down payment to avoid being upside down on the loan (owing more than the car is worth)
  • Higher monthly payments
  • You are responsible for any repair costs after the warranty expires

Contact

Spike Dykes Ford Lincoln Lamesa

1207 S Lynn
Directions Lamesa, TX 79331

  • Sales: (888) 437-9140
  • Service: 806-872-2188
  • Parts: 806-872-2188

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More About Leasing and Buying at Spike Dykes Ford Lincoln Lamesa

If you need help deciding if leasing of buying is for you speak with our financing experts here at Spike Dykes Ford Lincoln. They will work with you to make sense of all the numbers that get tossed around when financing your new or used vehicle. Everyone's financial situation is different so there is no one size fits all auto financing method. So stop in and see what we can do for you. Spike Dykes Ford Lincoln is proudly serving drivers from Lamesa, Midland, Odessa, Lubbock, and Levelland with all of their car, truck, and SUV needs. Spike Dykes Ford Lincoln is located at 1207 S Lynn in Lamesa, Texas and we look forward to serving you soon!