Ford Leasing vs. Buying | Near Denver, Arvada, Littleton & Golden CO

Benefits of Leasing Shop by Model Lease Specials

Examine your needs to decide if you should lease or buy your next vehicle.
  • What size of vehicle do you need; is it a possibility you may add to your family in the coming years?
  • How many miles do you drive a year?
  • Consider a leased vehicle if you drive fewer than 12,000 miles per year. 
  • Purchasing a vehicle is a good idea if you put a lot of miles on your vehicle.
  • Do want to own the vehicle at the end of your financing term?
  • Examine your budget and decide how much car you can afford and stay within budget
  • Check your credit report and take care of any inaccuracies before getting pre-approved to lease or buy a new vehicle.
  • Research new vehicles; look at safety ratings and owner satisfaction reviews
  • Narrow your choices based upon what you can afford, the optional add-ons, safety features, and reliability of the car, truck, or SUV.

Lease vs Buy a Car

Lease vs Buy a Car

Pros and Cons of Buying a Car:

PROs


  • Purchase a car, it's yours to keep.
  • You won't be penalized for driving excessively or damaging the vehicle. 
  • NO monthly payments after the car is paid off. If you are the type of driver that keeps their car long term it is better to purchase.
  • Buying a car is a good idea for people with a long commute, or who are unsure where they might be in the next few years. 
  • Buying also means that when the loan is paid off, the car and it's residual value are yours to keep. 
  • No mileage restrictions.
  • Your credit doesn't have to be excellent.
  • Customize your ride how you see fit for your lifestyle and personality.

Schedule a Lease Consultation

* Indicates a required field

By providing your information or texting and calling us directly, you agree to receive manual, automated and pre-recorded texts, emails, and phone calls from Larry H. Miller Ford Lakewood, its parent company Asbury Automotive, and all affiliates including our manufacturer and distributor partners. These informational and marketing communications may be powered by Artificial Intelligence, tailored to give you the most guest-centric experience possible. Messages and data rates may apply.

We offer a variety of reasonable ways to opt out or unsubscribe from all communications including an opt-out form on our website. You can find this form in the navigation under the “About Us” section labeled “Unsubscribe”, at the bottom of the homepage, or via our privacy policy page.

For more information, please visit our website privacy policy page or email us at privacy@asburyauto.com.

CONs


  • Having a car that's yours to keep can be a big commitment. 
  • More expensive: buying a car is more expensive than leasing. With a car loan the interest that you pay is based on the entire balance, ans sales tax that you pay will be higher.
  • You will need to arrange to sell or trade-in your car when want something different. 
  • A car loan payment is a bigger monthly financial commitment than a lease payment, as you are paying back the entire value of the car.
  • Be aware that long term loans may get your monthly payments down but also come with a higher interest rate.
  • You often will be required by lenders to place a 10%-20% down payment.
  • You lose out on the latest technology and safety improvements.

Common Lease Definitions

1. Mileage Allowance: The number of miles you can drive during the period you lease the vehicle lease without penalty.  It is stated in terms of monthly allowance, or the total cumulative mileage.  Typical mileage overage fees if you go over the allowance are 15-25, or .35, if it is a high performance vehicle, cents per mile.

2. Acquisition Fee: The fee charged by leasing companies and banks to cover costs of administering the lease terms.  They average about $400 and are rarely negotiable.

3. Adjusted Capitalized Cost: This is the amount you are financing in the lease or also known as the bottom line.  The cost of the car you are leasing, including the tax, title, and license, minus any down payment, trade allowance, or rebates.

4. Capitalized Cost Reduction: A down payment or other credit that lowers the capitalized cost of a lease. The down payment may come in the form of cash and/or a rebate, trade-in allowance or other credit.

5. Closed-end lease: A lease that doesn't require the consumer to buy the vehicle at the end of the lease for the predetermined residual value. Closed-end leases, which are by far the most common type, usually allow lessees to buy the car if they want, as opposed to walking away from it, or trading it in.

6. Money factor (or interest rate): A fractional number, such as .0075, used to calculate a lease fee or charge. The money factor is based on a formula that lessors devise to determine their profit. Buyers should look for a lower number. While lessors are not required to disclose the money factor, you can insist on knowing it before entering a lease. You can get a rough equivalent of an annual percentage rate if you multiply the money factor by 2,400 to get really close to the actual APR equivalent.  When automakers are running lease specials, the money factor can be as low as .00001.

7. Residual value: The car's wholesale value, at the end of the lease, which is projected at the beginning by the lease company.  Higher residual values translate to lower monthly payments but increase the cost to buy the car at the end of the lease.  This number is set in stone and you will know how much the residual value is when you enter into the lease.

8. Single-payment lease: A lease in which you can pay all of the lease fees and payments at the beginning. A likely user is a buyer who could pay cash to buy a car but wants to have a new vehicle every three years or so and doesn't want to bother with selling or trading the old one, or with making monthly payments.  There is often a lower interest rate on the lease since the lease company gets all its money up front. 

*Price excludes tax, title, license fee and other governmental fees. Advertised price includes $699 Delivery and Handling fee. The Delivery and Handling fee represents costs and profit to the dealer for items such as inspecting, cleaning, adjusting vehicles, and preparing documents related to the sale. The estimated selling price that appears after calculating dealer offers is for informational purposes only. You may not qualify for the offers, incentives, discounts, or financing, and these items are subject to expiration and other restrictions. See dealer for qualifications and complete details.

Images, prices, and options shown, including vehicle color, trim, and other specifications are subject to availability, incentive offerings, current pricing, and credit worthiness.

MSRP is the Manufacturer's Suggested Retail Price and is provided for informational purposes only. The MSRP does not represent an advertised or selling price.

Price may require VIN/stock number information to ensure accuracy.

IN TRANSIT means that vehicles have been built but have not yet arrived at your dealer. Images shown may not necessarily represent identical vehicles in transit to your dealership. See your dealer for actual price, payments, and complete details.

RECALL NOTICE: Some vehicles offered for sale may be subject to unrepaired manufacturer safety recalls. To determine the recall status of a vehicle, visit https://www.nhtsa.gov/recalls

VEHICLE DISCLAIMER: *Price excludes tax, title, license fee and other governmental fees. Advertised price includes $699 Delivery and Handling fee. The Delivery and Handling fee represents costs and profit to the dealer for items such as inspecting, cleaning, adjusting vehicles, and preparing documents related to the sale. While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Vehicle subject to prior sale. Please see dealer for details.

All financing terms are on approved credit. In order to receive the internet price, you must either present a copy of this page's internet price, or you must specifically mention the internet price to the dealership and have the same price referenced in your contract at the time of purchase.

  1. Larry H. Miller Ford Lakewood

    11595 West 6th Avenue
    Lakewood, CO 80215

    • Sales: 855-996-4144
Loading Map...

We can help you decide to lease or buy! Contact us Today

  • Contact our Sales Department at: 855-996-4144
  • Monday9am-7pm
  • Tuesday9am-7pm
  • Wednesday9am-7pm
  • Thursday9am-7pm
  • Friday9am-7pm
  • Saturday9am-7pm
  • SundayClosed