You’ve finally nailed down the perfect truck, right down to the color. Now, all you need to do is decide if you want to apply for Ford financing or a new lease. Folsom Lake Ford shares the unique benefits of each option.
Financing vs. Leasing
Before you can choose, it’s important to understand how each option works. To secure financing, you’ll need a loan to cover the entire cost of your new truck. Loans can range anywhere from 24 to 84 months, but once you’ve paid it off, you’ll own your truck outright. A lease, on the other hand, typically lasts two or three years. You’ll make monthly payments to cover the truck’s estimated depreciation during your lease, and then you’ll return it to our dealership.
Financing Benefits
With Ford financing, every payment puts you closer to owning your own truck. You’ll build up equity as you go and eventually won’t have any car payments at all. If you choose to sell your truck later, you can use it as a trade-in on a new vehicle. Plus, you can drive a financed vehicle as much as you want and customize it however you prefer.
Leasing Perks
Since you’re technically borrowing a lease, it does have mileage and customization restrictions. However, leases are much more affordable since you pay for the truck’s estimated depreciation instead of the full vehicle price. Plus, you’ll be consistently upgrading to a new Ford truck or SUV, so you’ll always have the newest technology and features. A new vehicle typically has lower maintenance costs and may even avoid repairs altogether.
Explore Our New Ford Trucks in Folsom, CA
To decide if financing or leasing is right for you, it’s important to consider your driving needs. We’re happy to help you weigh your options. Visit Folsom Lake Ford to get started today!
