When you're in the market for a new vehicle, there are lots of decisions to be made. It can be fun to choose your favorite model in a color you love, with the features to make your drive more enjoyable. Once you've picked out your dream car, you'll probably also need to decide how to finance it. The conventional method of securing a loan used to be the only option. These days, you may find that a lease works better for you. To make your decision easier, check out these tips on financing versus leasing from Northampton Ford.
Conventional Financing
Getting an automotive loan is a great choice if you enjoy all that comes with ownership. When you finance a vehicle, you'll generally put down a deposit and then make monthly payments for a set amount of time until the loan is paid in full. These payments include the balance of your loan as well as interest charges. When you are buying a car, you have the freedom to make modifications and put as many miles on it as you wish. You can even trade it in or sell it before the end of your loan term.
Signing a Lease
A lease comes with certain terms and limits such a a yearly mileage cap; however, it also offers many advantages that are appealing to Northampton drivers. Leasing typically costs significantly less per month, and lease terms are usually about three years. This means you'll pay a great deal less to drive a brand-new car, and you're also likely to save on maintenance costs.
Visit Us for the Financing You Need
If you'd like to learn more about your financing options, stop by Northampton Ford or call us with your questions. Our finance team can help you choose the financing type that best suits your needs.
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Finance