Should I Buy or Lease?

To lease or to buy? That is the question so many of our Halifax neighbours ask us. The answer? It depends on your driving and financial needs. Both paths have unique benefits tailored to better suit different types of drivers. Compare leasing vs. buying with MacPhee Ford, and then, contact our associates in Dartmouth to schedule a test drive!

Advantages of Leasing

When you lease, you rent your vehicle for a long time, gaining exclusive access. Your payments go to cover the amount of value that’s expected to depreciate over the course of your lease. Here are some of the advantages of leasing.

• Leasing comes with lower monthly payments.
• Down payment requirements are much lower, and sometimes, nonexistent.
• Maintenance and repairs are covered by the original manufacturer warranty for the duration of the average lease.
• When your lease is up, you keep leasing your vehicle, cancel the lease, change the vehicle you’re leasing, or finance the rest of your lease’s value with the intention of ownership.

Advantages of Financing

Finance (buy), and you take out a loan on the full value of your vehicle. This entitles you to the right to sell it at any time. Should you buy or lease? To answer this question for yourself, read about the advantages of financing below:

• Finance and you can sell your vehicle at any time.
• Each payment chips away at the principal of your loan. The lower the principal, the more money you’ll receive when it comes time to sell.
• You retain the right to customize your vehicle, however you like.
• You don’t have to worry about the monthly or annual kilometrage limitations that can come with leasing.

Discuss Leasing vs. Buying With Our Financiers Near Sackville

Now that you’ve compared leasing vs. buying, if you have further questions, or you’d like to arrange some test drives near Bedford contact MacPhee Ford at 902-434-7700. We’ll answer any of your questions, and guide you through the next steps of obtaining your car with financial terms custom-tailored to your budget. Before you head over, however, read some of our other helpful primers on topics like the steps to negotiate auto financing and how to lease a used car!