Ford

3820 Stadium Drive
Directions Kalamazoo, MI 49008

  • Sales: (866) 260-3281
  • Service: (877) 251-9255
  • Parts: (855) 424-6663

Lease vs Buy

Should You Buy or Lease Your Next Vehicle?

 

There are so many decisions to make when picking out a new car, but one of the biggest ones is deciding whether you would like to lease or buy. At Seelye Ford of Kalamazoo we know there is no wrong decision, but you do want to pick what works best for you and your lifestyle. Check out our comparison of leasing vs. buying a vehicle below. 

Buy

Pros:

  • You are the owner of the vehicle
  • Because you are the owner, you are able to alter or customize your vehicle in any way you desire
  • In the long term, buying is more cost effective
  • You can sell the vehicle whenever you want to
  • There are no mileage restrictions when you buy a car





Cons:

  • You do not know what the resale value of the car will be and with leasing it is built into the contract
  • The down payment on buying a vehicle will be significantly larger than on leasing
  • The monthly payments will be higher because you are working on paying off the vehicle
  • Your vehicle's maintenance and repair costs will come out of your pocket

Lease

Pros:

  • You will have lower monthly payments on your vehicle
  • You will have a lesser amount for a down payment
  • The car is often covered under warranty for the length of the lease, which means you will not have to pay for certain repairs
  • You will be able to get a new car every couple of years
  • You are not liable if your vehicle depreciates faster than assumed 

       

Cons:

  • The number of miles you can drive is limited and there are fees for exceeding the limit
  • You are basically renting a vehicle for a few years, so you will never own the vehicle
  • Because you are renting this vehicle, you are not building any equity
  • There is a fee for ending the lease early
As you can see, there are a lot of considerations when it comes to making the decision to lease or buy a vehicle. If you are more inclined to traveling and you want the power to personalize your vehicle, you might want to look into buying it. However, if you are more concerned with saving money in the immediate future, you might want to look at a lease. Either way, Seelye Ford of Kalamazoo can help you pick out that perfect vehicle. Our goal is to get you the set of wheels that you need! Call Seelye Ford of Kalamazoo at (877) 330-5175 or fill out the form on this page!

 

Contact

Seelye Ford

3820 Stadium Drive
Directions Kalamazoo, MI 49008

  • Sales: (866) 260-3281
  • Service: (877) 251-9255
  • Parts: (855) 424-6663

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