To lease or to buy? That is the question

When you decide to get a car, will you be buying or leasing? Spikes Ford is here to help you figure out which situation will be best for you.

When you buy a car, you will be paying a loan to eventually own it. Most people get a three or four year loan. Once it is paid off, you can keep the car for as long as it runs properly. You are responsible for all the repairs of the car.

As far as leasing goes, you do not own a leased car. You're essentially renting it and paying monthly payments. You can trade it in after the term is over. If you wish to purchase it, you may work that out after the lease is over. In a lease, a lot of the repairs for the car are covered.

We hope this information helped. Come in and see us if you have more questions and we'll find the right lease or loan for you.

Categories: Social
Tags: lease, loan, buy


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