Boulevard Ford

Should I Buy or Lease?

Are you ready to upgrade your vehicle and are weighing finance options? Deciding whether to buy or lease can be puzzling, and your Ford dealer in Delaware assures you of the clarity and peace of mind you are seeking. With years of expertise on financial matters, our friendly team of professionals will gladly expand upon all buying or leasing options, and help you find a payment plan that suits your unique lifestyle.


Buying a Car in Delaware

If you are wondering whether or not you own the car you are buying, the answer is yes you’ll eventually own the vehicle either way. If you purchase your car using cash or finance it by making monthly payments, you’ll own the vehicle right away. If you opt to make monthly payments and finance your vehicle, then you’ll have to meet all of the obligations required by the lender before you fully own your new car. These responsibilities may include applying a minimum down payment and fulfilling your monthly payments on time, and if you fail to meet the lender agreement terms, you may be subject to a repossession. The advantage of buying a car in Delaware is there is no sales tax and registration is very inexpensive. If you are looking to buy a car in Delaware but live in VA, MD, NJ or another nearby state, you can enjoy our tax-free benefits by registering your vehicle in DE. 


Cost Up-Front 

To finance your vehicle, your bank will most likely request you make a down payment. If you have a car to trade-in, you can apply the value of your trade-in toward your next vehicle purchase. The down payment total ultimately depends on your credit score, along with whatever requirements your lender recommends. To learn more about your up-front cost, speak with the financing team at your Georgetown Ford dealer. 


Future Value of My Vehicle

The future value of the vehicle depends on how well you maintain the vehicle throughout your ownership. The value of your car will determine how much you will be able to sell it for in the future. To ensure your vehicle stays operating at its optimal level of performance for many years to come, schedule your Ford maintenance appointments here at your local Ford dealer in Delaware. Our expert service technicians will ensure your vehicle operating at its pique level of performance. 


End of My Payments

Once you have paid off your vehicle entirely per your contract, this completes the buying process. You’ll have 100 percent ownership of your car, and your lending institution will momentarily send you your Lien Release as proof. When you buy a new Ford, or used car, truck, or SUV, and fully pay it off, once you receive your Lien Release from the lender, you’ll have complete ownership of your vehicle.


Leasing a Car in Delaware

Do I own the car I am renting? When you lease a car, you do not own the vehicle. The payments you make toward your lease do not actually go toward your vehicle; instead, you are paying for the use of the car. The financing institution that you lease your Ford through is the actual owner of that vehicle. When you sign your lease agreement, you’ll typically pay less per month than if you were to finance your vehicle. 


Up-Front Cost

There is no up-front cost required when you lease a car, though you may prefer applying a down payment to lower your monthly payment. Although you are not required to make any amount of down payment, you are required to pay the first month’s payment, a variable security deposit, your vehicle acquisition fee, plus any taxes or fees on the vehicle. You can always lower your overall monthly payments by simply paying more money upfront to lease your car. 


Future Value of My Vehicle

You do not own your vehicle at the end of your lease term, so you are not able to sell the vehicle you leased. It is important to maintain the value of Ford you lease because, within your lease agreement, you have mileage limits and wear and tear guidelines. If you exceed the limits stated in your lease agreement, it could cost you extra money at your lease-end. You can always opt to finance the vehicle you leased as one of your three lease-end options, though in most cases, the financing institution remains the owner of the leased vehicle. 


End of My Payments

Once your lease term ends and you’ve made your final payment, you have three options moving forward. Option one is to hand over your keys to your local Ford dealership. Option two is to begin leasing or financing a new model, essentially trading in your lease for a new lease or purchase. Your third option is to buy the vehicle you have been leasing, and we can help you set up a finance plan. 


We encourage you to chat with us in person about the various options available to you before you buy or lease your Ford, so we can help you set up your plan exactly the way you prefer. The knowledgeable team at your destination Ford of Georgetown is eager to assist you in getting behind the wheel of the new car, truck, or SUV you’ve always wanted. Let us assist you in buying a Ford in Delaware or leasing a new Ford today!


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