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Dealership hours of operation
Mon - Fri 7:30am - 5:00pm
Sat Open
Sun Closed
Dealership hours of operation
Mon - Sat 7:00am - 6:00pm
Sun Closed
Dealership hours of operation
Mon - Fri 7:30am - 5:00pm
Sat Open
Sun Closed
Dealership hours of operation
Mon - Fri 8:00am - 5:00pm
Sat Open
Sun Closed
Dealership hours of operation
Mon - Fri 8:00am - 6:00pm
Sat 8:00am - 5:00pm
Sun Closed
My Garage

Bennett Dunlop Ford Lease Vs Buy

Lease Vs Buy

Lease Vs Buy

Finance isn't the only option available for driving a car away from Bennett Dunlop Ford. Leasing offers an affordable way of enjoying the quality of a brand-new Ford, without the long-term commitment of a credit agreement. What are the most important differences between leasing and buying?

 

 

Shorter Term

Financing a new vehicle often means taking out credit that ties you in for five to seven years. With leasing, a typical term is between two and four years, giving you greater flexibility. Once your lease is completed, it's easy to upgrade to a new model, meaning you're always driving a car with the latest features and comforts.

 

Short term leasing

 

Continuous Warranty

With lease lengths of between two and four years, you could be continuously covered by the manufacturer's warranty. You'll not be faced with surprise repair bills at any point.

Lower Monthly Payments

Leasing usually offers lower monthly costs than finance, as you're basically renting the car for the lease period rather than paying off its value. However, the flipside is that your payments aren't building any equity in the car, and once the lease is up you'll have no ownership unless you buy the vehicle out.

Continuous Warranty

With lease lengths of between two and four years, you could be continuously covered by the manufacturer's warranty. You'll not be faced with surprise repair bills at any point.

 

Continous warranty

 

Lower Monthly Payments

Leasing usually offers lower monthly costs than finance, as you're basically renting the car for the lease period rather than paying off its value. However, the flipside is that your payments aren't building any equity in the car, and once the lease is up you'll have no ownership unless you buy the vehicle out.

 

Lower monthly payment

 

Lower Downpayments

Getting a good finance deal can often involve making a hefty downpayment. With leasing, the downpayment is usually much lower or even zero.

 

Lower down-payments

 

Kilometre Allowance

However, there's one potential downside to leasing. Most packages set a limit of how many kilometres you can clock up in a year, with charges added if you drive more. If you take long journeys regularly, this could be a concern. But with a generous standard allowance, and optional higher allowances available if needed, it's not likely to be an issue for most drivers.

Kilometer allowance

 

 

Your Choice at the End

At the end of your lease, you can choose to buy the car at a reasonable, pre-agreed price and continue to drive. Alternatively, so long as the car passes a wear and tear inspection, you can walk away with no further costs or commitments.

Your choice

 

 

Credit Ratings

For most leasing contracts you'll need a good credit rating. In contrast, financing can offer packages for most financial circumstances.

Should You Lease or Buy?

Should you lease or buy

 

Both leasing and financing have their advantages. If you want to drive a new car for less, and also update your car regularly, then leasing is a great solution. But if you want to build ownership in your vehicle, or if your credit rating is less than perfect, then financing may be a more attractive option.