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Buy or Lease

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When it comes to buying or leasing a car, truck, or SUV, many things should be considered. To help you make an informed decision we have provided the information below. We hope you find it informative and useful.

When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle's cost, which is the part you use during the time you are driving.


Buying Your Vehicle

Who Owns It
Whether you pay for the car with cash, or finance it and make monthly payments, either way it is yours. Of course, if you are financing it, you will have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments.

Up-Front Costs
If you are financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity toward your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.

Future Value
Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by our Dorian Ford Service Department - no appointment is necessary for scheduled maintenance)

End of Payments
Once you have paid off what you owe on your contract, that is it. Your vehicle is 100% yours. The lending institution including banks and credit unions will send you a Lien Release as proof that the vehicle is completely paid off and all yours.


Leasing a Vehicle

Who Owns It
You do not own the car when you lease. You are paying for the use of the vehicle, but the finance institution (Ford Motor Credit) that you leased through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.

Up-Front Costs
Leases often do not require any type of a down payment. All you usually have to pay is the first month's payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront or prepay your lease.

Future Value
In most leases you do not end up owning it so you do not end up selling it. That is the financial institution's job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.

End of Payments
Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options and we will make sure you have your lease set up the way you want it. We will look into any early bird or lease pull-ahead programs you can take advantage of and suggest what is best for you.

Best Cars to Lease
The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Ask a Sales Consultant at Dorian Ford Review the lease ratings to see which cars retain their value.

What is a Red Carpet Lease with Ford Motor Credit?
Ford Motor Credit offers a complete package of convenience, savings and benefits. In particular, the Ford Motor Credit, Red Carpet Lease Program provides several advantages that are not always available from other lease companies.

  • Low up-front costs
  • No disposition fee
  • No purchase-option fee
  • Automatically receive $250 Excessive Wear and Use waiver
  • Save thousands of dollars in unexpected costs because Gap Coverage is automatically included at no additional charge
  •  If your vehicle is stolen or deemed a total loss due to an accident, GAP covers the difference between what you owe on your lease and what your insurance pays
  • Low-mileage option
  • Option to purchase additional mileage for approximately $0.10 cents per mile
  • You can choose lease terms from 24 to 48 months
  • Possible lower monthly payments
  • Opportunity to drive new Ford vehicles more often
  • Option to purchase additional Ford Care Vehicle Service Protection