When Does Buying A Used Car Make More Sense Than Leasing?
When a person opts for leasing a car the cost is based on three years depreciation, this fact alone makes leasing more expensive than buying a quality used car. Used Fords in Hickory Hills start with a lower value and the depreciation is much slower.
Leasing a car is often seen as a quick, easy and affordable way to get into a new car, for many people it is exactly that. A closer look at the actual cost of leasing may show that it isn’t what is seems, there are fees that often are neglected or simply not taken into account, these fees can add up. There is also the fact that at the end of the lease you have to return the car, at that time you have to decide whether you will lease again. Many people who lease find that they never stop making car payments and over the years this can be extremely expensive.
When you are faced with either leasing or buying a used car there is an important question that must be answered; is it important to always be driving a new car? Perhaps there was some truth to this in the past but many used cars that are three or four years old are complete with all the newest in technology and it is hard to tell from the body style how old the car is. There are other points that just might make you look hard at used Fords in Hickory Hills.
No restrictions on mileage: Lease costs are normally based on driving 10 to 12,000 miles a year and if you exceed this the costs can skyrocket. Many people are shocked when this happens. There is no such penalty when you buy a used car, the car is yours, take it where you want, when you want.
Lower insurance: The entire value of a leased car is financed so the leasing company insists on full cover. Insurance rates on used cars can be tailored to accommodate the risk that the owner wishes to take.
Credit requirements: The sweetheart rates that are offered by leasing companies are limited to those with top tier credit. If your credit rating is middle of the road the payments will be higher, there is no need to have top tier credit when you buy a used car.
Of course there are tradeoffs when you consider a new car lease vs. a used car purchase. You must ask yourself if driving a new car every three years is important or not, if the answer is “no” or even “maybe” then perhaps used Fords in Hickory Hills makes a great deal of sense, think of what you can do with the savings when you opt for a great condition, newer used car.
You will find a great selection of used Fords in Hickory Hills when you shop at Hawk Ford. At Hawk Ford you will find low mileage used cars at a price that fits your budget.