Financing vs. Leasing Your New Ford in Pittsburgh, PA
Richard Bazzy's Shults Ford Inventory
The new Ford lineup is one of the most exciting there is, from trucks like the Maverick and F-150 to SUVs like the Explorer and Bronco to EVs like the dazzling Mustang Mach-E. Once you’ve settled on that ideal new vehicle, the question becomes whether it’s better to finance or lease. There are no wrong answers at Shults Ford in Pittsburgh, Pennsylvania — only answers that work best for your needs.
Shults Ford is your No. 1 Ford dealer in Pennsylvania and your top new truck and used car dealer in Pittsburgh. We’re also experts in auto leasing and financing, and we’re here to help make your decision as simple and stress-free as possible.
When leasing a Ford works best
Leasing your new Ford truck or SUV provides convenience, value, and peace of mind. When you decide to lease a brand-new Ford Ranger or Ford Escape, you get the newest model we have in stock at a great deal.
Leasing is essentially like renting a vehicle for a set period of time—not unlike renting an apartment. You typically pay lower monthly payments than you would were you to purchase the exact same model. That’s because we only charge you for the depreciation of the vehicle over the course of the contract, rather than financing the entire price. Plus, down payments are typically lower, which helps you save money up front if you have a tighter budget.
If you like upgrading your ride to the newest model every couple of years, leasing gives you that flexibility. You can simply return your Ford truck or SUV at the end of the term and switch over to something newer. This makes it a great option if you’re planning on starting a family or want to go electric but aren’t quite ready yet. Just bear in mind that lease contracts have specific mileage and maintenance stipulations.
Did you fall in love with the feel of your Ford Mustang or Ford Edge? No problem. At the end of your lease, you can enter into a new financing agreement to pay off the remaining balance and make it all yours.
Leasing is typically a better option for Pittsburgh families who only drive short distances because your contract will include a mileage restriction. If you tend to drive over 10,500 to 12,000 miles a year, financing may be the better choice. But another perk of leasing is that your vehicle may be under warranty for the entirety of the time you drive it.
When financing a Ford works best
If you don’t like the limitations and lack of ownership imposed by a lease contract, you’ll love the freedom that purchasing a Ford vehicle gives you. When you reach the end of your finance agreement and pay off the balance, the vehicle is all yours, free and clear. And unlike leasing, you can choose to sell your Ford vehicle and use whatever equity you have in it toward the purchase of something new.
Unlike lease arrangements that let you temporarily borrow a vehicle, purchasing the model gives you total ownership of your Ford to drive as much as you want. There are no mileage restrictions and no worries about wear and tear fees.
You also have the flexibility to accessorize, care for, and work on it according to your preferences. So if you get a Ford Bronco Sport and want to add more off-road-ready gear, you can do so to your heart’s content.
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