Leasing and Buying: What's the
Difference?
Many of our drivers walk into the financing process
not knowing the differences between buying a car and leasing a car. That's okay
-- that is why our team is here to help!
Buying
When you buy a car, you most likely have to take
out an auto loan to cover the initial cost of the vehicle. After you get
approved for credit and take out the loan, you will put down money. After the
purchasing process is complete, you can drive off our lot with your new car.
You will pay down the loan over the coming months, and you will be able to
drive that car as often as you want. Once you finish paying off the loan, the
car will officially be yours!
Leasing
Leasing is a little bit different than buying; it
is akin to the difference between buying a home and renting an apartment. When
you lease a vehicle, you are essentially "renting" a car, in that you
are paying a monthly amount for a vehicle to drive. Leasing does come with
certain parameters -- there are mileage parameters to adhere to, and you have
to ensure your vehicle is in good condition. However, leasing can also provide
certain freedoms. For instance, you do not have to worry about taking out a
loan, nor do you have to be worried about being tethered to a single vehicle
for a long period of time. In fact, when you lease a car you are able to choose
what to do once that lease ends.
So, in many respects, leasing is an excellent
alternative, especially if you only need a car for professional purposes, or
you need a short-term vehicle.
Ready To Learn More?
If you would like to learn more about our selection
of vehicles, or if you have questions about the financing process -- either in
terms of purchasing or leasing -- we invite you to visit us at Seminole Ford in
Seminole, OK. Our team would be more than happy to assist you with all of your
automotive needs, from purchasing to servicing.
Visit us today and we can help you with any of your
automotive needs, whether this is your first time buying a car or you are an
experienced shopper, our team would be more than happy to assist you.
Additionally, we invite you to apply for credit
today if you are ready to take the next step with a vehicle.
We are proud to serve drivers in Holdenville and
Wewoka, as well.
