Should You Lease or Finance Your Next Vehicle | Kalispell Ford

September 13th, 2023 by

Have you ever wondered if it would be better to lease or finance your next vehicle?  It’s important to understand both options when considering a new vehicle so you can decide which options work best for your needs and budget. 

Leasing

There are many benefits to leasing a new vehicle!  For those of you who tend to only keep your vehicle for a few years before wanting something different, a lease is a perfect solution.  When leasing a new vehicle you have the option to lease it for 2 or 3 years.  That means every few years you can upgrade to the latest model and technology!  During a 3 year 36,000 mile lease you are fully covered by a Ford manufactured warranty so you do not have to worry if something fails or pay any extra for additional warranty coverage.  

Ford offers closed-ended residuals on all of their leases meaning the amount you can purchase the vehicle for at the end of your lease will NEVER change.  By knowing the value of your vehicle, you are protected from any financial depreciation if the used market value decreases.  It doesn’t matter how much you drive because you can choose the number of miles you drive a year upfront!    

Financing

Financing is a great option if you are planning to keep your vehicle for many years to come.  Ford offers many great APR financing incentives for multiple financing terms.  Check the official Ford website to see the different purchase options available.  If you drive an excessive amount of miles a year it probably makes more sense to finance your vehicle.  Typically anything over 20,000 miles a year would be considered excessive.  Kalispell Ford’s knowledgeable Product Specialist are happy and eager to go over all of your purchase options.  Also give you all the information you need to make an informed purchase decision.  Schedule your consultation appointment today at Kalispell Ford.