Lease Vs. Buy

When it comes to affording your dream vehicle, there are two main ways you could go about doing so: leasing the car, or buying the car outright. At Gibbons Ford, our caring and experienced finance team is here to help you make the best choice for you. Check out the main benefits and setbacks of each option below.

What it Means to Lease a New Car

When you lease a vehicle, you're getting quite a few benefits including lower monthly costs as a result of our many new vehicle specials, frequent vehicle updates to ensure you're always cruising in the best and brightest rides that Ford has to offer, and most of the time, a warranty that keeps you fully secure on and off the road.In addition, leasing a new car also means that you can spring for higher-end convenience, comfort, and style features that otherwise would cost more money up front. With lease agreements, you never have to worry about sacrificing the look and feel of your perfect vehicle in order to afford it.On the other hand, a lease will place a limit on the mileage and modifications you can put on your car, since it needs to be returned to the dealership after your lease period ends.

What it Means to Buy a New Car

Buying a new car outright comes with many benefits as well, mainly the benefits of vehicle ownership. When you own your car, there are no limits on how often you can drive it nor how much you can modify it to your liking.

In addition, once you pay off any necessary loans, the vehicle is yours to do with as you wish. You can treasure it forever, gain equity over time, or trade it in towards a new vehicle in the future.

The only downside to car buying is that it will often cost you slightly more money up-front, as you will be asked to cover the full cost of your vehicle at purchase. Not to worry though, as our expert team of finance specialists at Gibbons Ford will go above and beyond to ensure you are happy with and fully understand whatever loan terms you decide to take on.

The Advantages of Leasing:

- Leasing makes it easier to get more car for less money. This is because you only pay for the value of the car that you drive, instead of buying and owning the entire worth of the vehicle.

·    - Lower your monthly payments with a low - or no - down payment lease.

·    You can drive a better car for less money.

  • Lower repair costs because you are usually still covered under the 3 years or 36,000 miles bumper to bumper (comprehensive) warranty included in the vehicles factory warranty.
  • You can more easily transition to a new car every two or three years.
  • There are no trade-in hassles at the end of the lease.

Leasing is factored by how much you drive per year; you would choose the mileage and the length of the loan. Options are:

Available Mileage Options:  7,500, 10,500, 12,000, 13,500, 15,000 (more mile options are available through Ford but it sometimes does not make sense to increase this extent)

Available Term Options: 24, 36, 39, 48 months

Money down is not required unless requested by the lender or if you are looking to be in a certain price range we may recommend you put money down to reach your desired payment

You don't own the car at the end of the lease (although there is always the option to buy). This purchase price is determined at the time of the lease.

General rule of thumb:

24 month lease: every $1,000 that you put down is about $42 a month  decrease in payment. 

36 month lease: every $1,000 that you put down is about $28 a month decrease in payment.

Ford lease GAP insurance is included in the lease (it is built in) GAP insurance is the difference that you would pay if the vehicle the vehicle was totaled. If the vehicle is valued less than what you owe GAP would pay the difference.


What are the Respective Pros and Cons of Signing a Lease Agreement?

Leasing a new Ford model here in Dickson City comes with an extensive list of advantages. The condition of the vehicle is a good place to start, as you get to operate a new Ford model and enjoy many of the same ownership privileges - some warranty coverage and protections - as those who decide to purchase outright. Flexible term lengths allow you to move on from this truck, sedan or SUV in a few years and upgrade to a new Ford vehicle with the latest technology and innovations.

On the flip side, some restrictions will apply to your new Ford lease. It's important to know about how many miles you typically drive per year(i.e. commute to work or school). Maintenance requirements, similar to purchasing your vehicle outright, will factor into your signed agreement, as repairs are also covered out-of-pocket. Insurance coverage is relatively limited over what you enjoy when choosing to buy, and you are held responsible for lease violations and any damage accrued. Talk to our finance department about products we offer to protect against possible accrued damage charges.

What Vehicles are Eligible to Lease?

Most new Ford models qualify for lease agreements here in Dickson City, PA. Used and specialty vehicles typically don't qualify for this finance option.

What Should I Understand Prior to Signing my Lease Agreement?

Review all the specifics of your lease agreement, from term length to mileage limits and specific fees that may apply, carefully, before officially committing. Our finance team here at Gibbons Ford can walk you through this process step by step and answer any questions you may have.

If you're looking to get behind the wheel of a new vehicle from Gibbons Ford, we are ready and willing to assist you every step of the way! If you have any additional questions regarding your financing options, feel free to contact Gibbons Ford online, or stop into our Dickson City dealership in person!

How can we help?

  1. Gibbons Ford

    704 Martin F. Gibbons Blvd.
    Dickson City, PA 18519

    • Sales: (570) 489-4747
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  • Contact our Sales Department at: (570) 489-4747
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