There can be some tough decisions that need to be made when getting a new vehicle. One of them might be the question “Should I buy or lease my new vehicle?”. At Highbury Ford, we know that the answer to this question can be different for everyone. But to help you make the decision a little bit easier let us explain to you the difference between buying or leasing.
The difference between buying and leasing.
When you buy a vehicle you own it. You can drive it as much as you want, as far as you want and as long as you want. And you can also customize your vehicle as much as you want. When you buy a vehicle you are probably going to have your vehicle for a while even after the warranty is done.
When you decide to lease your vehicle, you don’t really own the vehicle. You choose how long you want it and how many kilometres you want to drive. The best thing about leasing is that when the lease is finished you can get a brand new vehicle. And with shorter terms, your repairs are likely under warranty, which means unexpected maintenance is usually covered. Your job is to keep your car in good condition and avoid anything out of normal wear and use. In addition to wearing and use, if you go over the mileage limit or end the lease early it can cost you more money.
Buying Vs Leasing
So now we know what the difference is let’s find out what is best for you. There is not a correct answer to the question if you should buy or if you should lease. But is if you are easy on your cars, like to switch cars often and like to have the latest technologies, you might want to consider leasing instead of buying.
Do you like to drive a lot of kilometres, like to customize your vehicle and like the idea of owning your own vehicle, buying might be the better option.
We hope with this information we made the decision whether you should buy or lease a bit easier. If you have any questions, our staff at Highbury Ford is more than happy to help you out in finding the best options and vehicle for you.