Should You Buy or Lease in Shawnee, OK?
Should You Buy or Lease in Shawnee, OK?
It’s a great question to ask yourself. Here at Joe Cooper Ford of Shawnee , we understand the tension between whether you should buy or lease your new Ford. You might be asking yourself if there’s even a difference between the two? Which option gives you the most freedom? And what about flexibility? We’ve encountered those questions before from our customers from Harrah, Tecumseh and Seminole, so we’d like to help you decide which is best for you by providing three pros for both buying and leasing. Reading through might help you decide what’s a priority for you.
Why Lease a Vehicle?
Moderate Monthly Payment
Just like renting, when you lease your Ford, you agree to make monthly payments on the vehicle until the end of your agreed lease period, at which point you’ll return the vehicle to our dealership. With the price of cars rising and the amount of innovative safety and technology features that are only available on new cars, leasing is an excellent alternative to buying. You’ll find that the monthly payment of your lease can be less than if you were to finance, which means you get to drive a brand-new, better-equipped car for a limited time without paying the full price tag.
Lifestyle Flexibility
Since more and more of our customers work from home, lifestyle flexibility is a must. Leasing can offer that flexibility to drivers that buying can’t always provide. For example, a lease period is between 2-3 years (or 24-36 months), which are shorter terms than buying. And while lessees are given 10,000-12,000 miles per year on their vehicle (depending on your terms), many who live in big cities or work from home will find that they won’t use them all. (But you can always purchase more miles at signing if you’re nervous.) And say goodbye to the hassle of trading or selling! All you have to do is return your Ford once your lease is up, with the option to purchase the model if you can’t seem to part ways just yet.
Warranty Protection
Remember that lease periods last between 2-3 years? New Ford models are covered under their New Vehicle Limited Warranty for three years or 36,000 miles (whichever comes first) and their Powertrain Warranty for five years of 60,000 miles (whichever comes first). That means that not only will you be driving your new Ford during the most seamless years of its life, but any manufacturer defects or other qualifying repairs are covered under warranty. You could even enjoy complimentary oil changes or other scheduled maintenance during your lease.
Why Purchase a Vehicle?
No Additional Fees
While leasing is a great option, drivers will be held liable for excessive wear and tear, exceeding mileage limits and exiting the lease agreement early. Plus, any customization that you’ve added during your lease period must be removed and any residual damage paid for. With leasing, the dealership (or “landlord” in this analogy) will charge you fees if you’re in a fender bender or decide to upgrade the sound system. Just ensure to keep your vehicle’s warranty valid for as long as possible, but otherwise, enjoy your new Ford just the way you want to — without the additional cost!
Financial Flexibility
When buying your new Ford, there are several options for you to take in order to lower your financial costs, both upfront and long term. Save up for a large down payment to see a more favorable bottom line, which will lower your monthly payment. Choose to pay in cash to avoid paying interest, or apply for credit from us at Joe Cooper Ford of Shawnee for effortless financing. Not only will you get to enjoy the incentives in our new car specials, but every dollar placed on your Ford — from the down payment to the last monthly payment — is secure. You’ll yield a better investment in your car when you choose to buy.
True Freedom
While for many it's intuitive, buying your new Ford gives you true freedom. Whether it’s in customizing your Ford exactly how you want it — think lift kits, new tires, audio systems, heated seats, exterior paint color, etc. — without having to ask, or taking off for that long-awaited road trip without having to count up the miles, you’ll experience the kind of independence that can only come from buying your model. Plus, your Ford is an American-made classic. It would be a shame to put any kind of limit on your rugged, capable model. Buy your next Ford outright for autonomy from lenders and the freedom to go when and where you please.
If you’re ready to be the proud owner or lessee of one of our new models or are interested in learning more about your lease-end options, feel free to contact us online or visit Joe Cooper Ford of Shawnee at 4921 N Automall Drive, Shawnee, OK 74804. Remember, a member of our team is just a phone call away if you’d like to talk through your options instead! We look forward to serving customers from Shawnee, OK, near Harrah, Tecumseh and Seminole.
Visit Consumer Reports’ page for more information on whether you should buy or lease.