Lease vs. Loans: Discover the Benefits of Each Option

When it comes to getting a new vehicle, one of the biggest decisions is whether to lease or finance. Both leasing and financing have their own unique benefits that may make them a better fit depending on your needs and preferences. At Ruxer Ford Lincoln Inc. in Jasper, we offer both lease and loan options on our extensive inventory of new and pre-owned vehicles.

We serve drivers from French Lick to Huntingtonburg, and we'd love to be a resource for you, too.




Benefits of Leasing

One of the main advantages of leasing is that it typically results in a lower monthly payment compared to financing. This is because you are only paying for the value of the vehicle that you use during the lease term, rather than the full price. Leasing also gives you the flexibility to get a new vehicle every few years, so you can always be driving the latest models with the newest features and technology. Many of our customers in the Jasper and Petersburg area appreciate that leasing requires less money upfront since you usually just need to pay the first month's payment, a security deposit, and any applicable fees.

Advantages to Leasing

  • Lower Monthly Payments: Because the monthly payments are based on depreciation and not total cost of vehicle, your monthly lease payments will usually be lower than if you'd purchased the same vehicle.
  • Short Term: Since leases are time-bound, you can get into a new vehicle ever three to five years. At the end of your lease, you can return the vehicle to the dealership and move onto something different or something newer, just like that!
  • Warranty Work: The lion's share of leases occur on new vehicles, and since leases are on average three to five years long, there's an excellent chance your vehicle will remain covered by the warranty for that entire time, meaning the cost of repairs and maintenance could be covered or greatly reduced for you.

You might enjoy leasing more than purchasing if...

  • …you want to get into a new vehicle ever three to five years.
  • …you don't drive often and could see yourself sticking to mileage limits.
  • …you would prefer a lower monthly payment to a long-term investment.
  • …if you're not sure what life might bring you and you don't want to commit to one vehicle just yet.

Advantages to Buying with a Loan

  • You Own It: It might seem silly to say, but when you buy with a loan, you own your vehicle until or unless you choose to sell it. The same isn't true of leasing, so buying your vehicle often gives people a sense of personal pride and ownership.
  • Build Equity: Contrary to what happens with lease payments, with a loan payment, you are actually building equity in an asset, so if you're into financial planning and thinking about the future, this option might be best.
  • Give It a Personal Touch: When you lease, you can't personalize the vehicle or even use unapproved replacement parts, but when you buy, you can personalize and customize your vehicle all you want-after all, it's yours!
  • You Can Sell: And unlike leases, vehicles bought with a loan can be sold if you so choose.

Benefits of Financing

For those who prefer long-term ownership, financing is likely the better choice. When you finance a vehicle, you are paying to own it outright. This means you are free to drive as much as you want without worrying about mileage limits, and you can customize or modify the vehicle however you like. Once you pay off the loan, the vehicle is yours to keep, sell, or trade in as you wish. We have many financing options available for customers in Washington and the surrounding communities.

Explore Your Options at Ruxer Ford Lincoln Inc.

The choice between leasing and financing depends on your unique needs, preferences, and circumstances. If you're interested in discussing leasing or financing in more detail, we invite you to visit Ruxer Ford Lincoln. Our knowledgeable team will be happy to answer your questions, review your options, and help you find the ideal vehicle and payment plan for your lifestyle and budget.

Contact Our Financing Team

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