Many drivers enjoy the freedom of leasing a vehicle, preferring to swap their ride every few years instead of committing to a purchase. If you are interested in leasing a Ford in York, our team is here to help!
Burns Ford is proud to serve locals throughout York County and beyond, committed to providing a superior shopping experience. From the cities of Lancaster and Rock Hill to the town of Fort Mill, our loyal customers keep coming back!
Your Credit Score Matters
There are two main factors that impact your average credit score, including the following:
- Payment history
Your payment history makes up 35% of your score, and is a powerful indicator of your ability to consistently pay bills on time.
- Credit use
Credit use comprises 30% of your score and refers to the amount of available credit already in use. For example, if you already have a sizable loan or maxed-out credit cards, financing or leasing a vehicle will likely be more difficult.
Bad credit? We can help! While a low credit score may result in a higher interest rate, our Ford Finance department will work hard to ensure it doesn’t keep you out of a reliable ride. Keep in mind, though, that you may pay more each month – and over the course of your lease term.
South Carolina lenders may also request a higher security deposit when leasing a vehicle in York to compensate for the increased risk. A lower credit score may also limit your choice of vehicle, so prepare to be flexible. Again, you might not be able to get the latest model, but our Ford credit specialists are committed to getting you into a great vehicle.
Whether you choose a loan or a lease, now is your chance to improve your credit score! A good payment history when leasing a car or buying a vehicle in York can help get you back on track.
The Pros and Cons of Leasing
Leasing a vehicle is similar to renting one. When your lease ends, you simply return the vehicle. Here are some advantages and drawbacks of leasing a Ford in York:
Pros of Leasing
- Lower monthly payments than buying
- Enjoyment of vehicle at peak performance before mileage adds up
- Small down payment (Note: No money down offers may be available!)
- Less sales tax
- Lower repair costs due to the vehicle’s factory warranty
- Opportunity to drive a higher-end vehicle than you could afford to buy
- Ease of returning the car and swapping to a new model every few years without the hassle of selling
Cons of Leasing
- Higher cost over time compared to purchasing a car and driving it for a few years
- Continued monthly payments if you lease one car after another
- Mileage limit of 12,000 miles/year (typically)
- Confusing, wordy lease contracts from the leasing company
- Potential for costly wear-and-tear fees
- Costly penalty for terminating a lease early
- No equity or ownership in the vehicle
Call the Burns Ford of York Finance Department Today!
If it sounds like leasing is a smart option for you, please contact us today! Buying a used car may be another affordable alternative to buying new – and our pre-owned inventory can’t be beat!
The Burns Ford of York Finance Department is prepared to put together a customized financing package, but you can get started now with this free online credit application. Fill it out, then get in touch to discuss available finance offers!
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