The finance team at Terry’s Ford of Peotone is dedicated to fixing up Schererville drivers with the most advantageous loan and lease packages available. We believe that everyone deserves the opportunity to find a vehicle of their own, so we draw upon access to millions of dollars of credit from a variety of lenders to provide you with the right option that best fits your needs.
Whether you have good credit, poor credit, or no credit history at all, we can help you get approved. Just come down to the showroom today by following these simple directions from Schererville:
Leasing a car is very similar to buying outright, except you’re only charged for a percentage of its value. This is because your auto financing only covers the years you’ll be using the vehicle, so both your monthly payments and initial down payment will be lower.
Leases typically last around three years, so you’ll never be too far behind the latest high-tech features. Additionally, the lease will normally be covered by the new-car bumper-to-bumper warranty.
However, mileage restrictions will typically limit you to 9,000, 12,000, or 15,000 miles a year, and you won’t be able to make any major alterations. Perhaps most importantly, you’ll only be essentially renting the vehicle, not building up equity as you would when buying outright.
When you buy a car outright, it’s yours for as long as you want. When the loan is paid off, you’ll be able to drive for years without any monthly payments at all, and there are no restrictions in terms of mileage or alterations.
However, you’ll be taking a risk when it comes to resale value since it can be hard to tell how much a car will be worth in a few years’ time. You’ll also need a much larger down payment than you would if you were leasing, and you might need to stretch out the length of the loan to get lower monthly payments, which will result in more interest being paid in the long-run.
Whether you want to lease or buy, the team at Terry’s Ford are ready and waiting to be of assistance to all of our Schererville customers. Just contact one of them today for further information or stop by and see us in person. We hope to see you soon!