Pittsville Ford

Buying v. Leasing

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Whether you’re craving a change of pace or you’re in desperate need of something to drive, it can be stressful choosing whether you should lease or buy your next vehicle. We know that choosing between these two options can be a confusing process, which is why your Ford Salisbury MD team at Pittsville Ford is thrilled to help you figure out how to pay for the vehicle you want to drive. We will be glad to elaborate on the differences between buying and leasing your next vehicle.

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Buying a Car


Who Owns My Car?

It doesn’t matter if you buy your vehicle simply using cash or finance it by making monthly payments, you own the vehicle. If you are financing that vehicle via monthly payments, then you have to meet all of the obligations required by the lender before you fully own the vehicle. This means that you may have to hit a minimum down payment and you have to make those monthly payments on time. If you do not meet all of those requirements, then your car may be subject to repossession.

Cost Up-Front

If you decide to finance your vehicle, then your bank will most likely request that you make a down payment. You could also choose to trade-in another vehicle and put what that vehicle is worth towards the equity of your next vehicle’s down payment. The amount that your down payment has to be is typically based on your credit score along with the requirements of the lender. Ask more about your down payment with the financing staff at Pittsville Ford, your home for your next Ford near Salisbury MD.

Future Value of My Vehicle

The value of your vehicle will be whatever you are able to sell it for going forward. That will depend on how well you maintain your vehicle over the course of your ownership. Remember to get your vehicle the Ford service that it requires to stay operating at peak performance for years to come. Regular maintenance appointments at your Ford service home, Pittsville Ford, will help your vehicle maintain a solid overall value.

End of My Payments

Once you have fully paid off all that you owe on your vehicle’s contract, that’s the end of the buying process. You have full 100% ownership of your Ford in Salisbury MD from Pittsville Ford. Your lending institution will be sending you your Lien Release as proof that your car, truck, or SUV has been completely paid off and that you have total ownership of your vehicle.

Ford dealers near meLeasing My Car

Who Owns My Car?

When you are leasing a vehicle, you do not own that car. You will not be paying for the vehicle itself. Instead, you are choosing to pay for the use of that vehicle. The financing institution that you lease that vehicle through is the actual owner of that vehicle. This is why leases are typically cheaper to pay per month than the monthly payments of someone who is actually financing a vehicle.

Cost Up-Front

If you are leasing your vehicle, you will not be required to make any sort of down payment on that vehicle. All you will be required to pay up front is the first month’s payment, a security deposit, your vehicle’s acquisition fee, plus any other fees and taxes on that vehicle. Just like a purchase though, you can lower your overall monthly payments that you have to make by paying more money up-front to use the vehicle that you are leasing.
Future Value of My Vehicle

In most cases, someone who is leasing their vehicle does not end up owning it and therefore cannot end up selling that vehicle. That is the job of the financing institution you are using. Keep in mind that you might have mileage limits or wear and tear guidelines for your vehicle. If you happen to exceed these predetermined limits, then that could cost you extra money when it comes time to turn in your vehicle that you have been leasing.

End of My Payments

Most people that choose to lease will return their vehicle to the dealership when the terms of that lease ends. Some people will instead choose to purchase the vehicle at the end of the lease or even during the lease if they feel inclined to do so. Other people choose to trade that vehicle in for a different model before the end of their leasing term. Feel free to ask about the various options that you have before you decide to sign any paperwork so we can set up your lease exactly how you want it at Pittsville Ford, your Ford Salisbury MD home.

Sales Hours

877-760-5870
Monday 8:30 am - 8:00 pm
Tuesday 8:30 am - 8:00 pm
Wednesday 8:30 am - 8:00 pm
Thursday 8:30 am - 8:00 pm
Friday 8:30 am - 8:00 pm
Saturday 8:30 am - 6:00 pm
Sunday Closed

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