Buying vs. Leasing

 

When it Comes to Leasing Vs. Buying

Sutton Ford Lincoln can help weigh your options!

Weigh your options with Lease Vs. Buying with Sutton Ford Lincoln. Both options are good but it depends on the consumer situation,  and which one is feasible for that situation. Let's weigh your options:

Buying a Vehicle

When you buy a vehicle it comes with a conventional loan that requires a longer term to reach a feasible monthly payment or you pay cash out of pocket. Once the vehicle is paid in full, it's your for keeps. However, if you choose to sell or trade before the loan is completed and the balance is high. You will have negative equity. However, you can also have positive equity, which you can use as a down payment towards a new vehicle. 

Leasing Vehicle

Leasing is an option that consumers can take advantage to lower monthly payments or drive a new vehicle every few years.  Lease offers feasible monthly payment with a shorter terms vs. longer term.  A lease may require less money up front compared to a conventional auto loan, which give you more bang for your buck.  The monthly payments is based on the cost of depreciation of borrowing.

Example: If you lease a $20,000 vehicle , with an estimated resale value of $13,000 after 36 months, you only pay for the $7000 difference (cost of depreciation).

You can return the vehicle at the end of your lease, or exercise your purchase option and keep it for the remaining $13,000 that you haven't already paid-or trade it if the vehicle is worth more than $13,000.

If you are one that trade-in your vehicles every few years, than leasing maybe for you. Additionally, if you are one that drives  more than 19k miles per year, than buying maybe for you. The choice between buying vs. leasing is a tough call; however, Sutton Ford Lincoln has specialists that can help you weigh your options between the two. 

Stop into Sutton Ford today to talk with one of our specialists!

We're located at 21315 Central Ave. Matteson, Il 60442. 

Hours

  • Monday 9:00 AM - 9:00 PM
  • Tuesday 9:00 AM - 9:00 PM
  • Wednesday 9:00 AM - 9:00 PM
  • Thursday 9:00 AM - 9:00 PM
  • Friday 9:00 AM - 9:00 PM
  • Saturday 9:00 AM - 6:00 PM
  • Sunday Closed
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