Which Financing Option Is Best For You?

Here at Griffin Ford-Lincoln Inc., we strive to streamline the car buying process as much as we can. Work with our sales staff to find your dreams' Ford vehicle. Be escorted to our financial experts to go over what financing options make the most sense for your situation. We work with many different local lenders in the Valdosta area. Our team can even help you decide if you should get a loan or lease your next Ford vehicle.

Loan VS Lease

Loans are typically provided by a third party like a bank or credit union. You will make a small down payment toward the vehicle you are interested in initially. You will make monthly payments to pay down your balance. Our team can help you shop around from lender to lender to get the best interest rate possible. This will help you save money in the long run. Loan terms will typically range anywhere from 36 months to 60 months, but some lenders specialize in shorter or longer-term loans. The quicker you pay back your loan, the less you will pay in interest. Most loans do not have penalties for paying them off early, but you should double-check with our team before proceeding.

Leases are closer to long term vehicle rentals than actual ownership. Leases typically require a larger down payment than loans, and you still make monthly payments to keep the vehicle. Lease payments are always lower than loan payments. As Ashburn, GA is only paying for the perceived depreciation to the vehicle. Leases come with restrictions on the number of miles you can put on the vehicle. Typically, you are limited to around 15,000 miles per year, and you must pay a fee if you go over the allotted amount. When your lease is over, you can choose to return the vehicle, buy the vehicle, or renew your lease. In this way, leases are more flexible than a traditional auto loan.

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Which Option Is Best for You?

Loans are great if you have found your dream vehicle, and you don't plan on selling it anytime soon. If you have a loan, you don't have to worry about going over your mileage restrictions, and you get the satisfaction of working towards fully owning your vehicle. Eventually, you will pay off your loan. You will have a high-quality Ford vehicle without a monthly autopayment, which is appealing for many people. Loans are desirable for Ocilla drivers who don't want to put a ton of money down upfront. Typically, the down payments for loans are minimal if there is one in general. It is important to keep in mind, the more money you can put down upfront, the lower your payments will be.

Leases are great if you don't want to commit you a vehicle for longer than you need to. If you are prone to upgrading your phone every chance you get and always want to have the latest features in your vehicles, you should consider leasing. Leasing is also less expensive if you don't drive a ton and are just looking for a reliable set of wheels until you find your dream vehicle. If a dealership is looking to lease out many vehicles, they may even have special incentives like low down payments, or lower than usual monthly payments. These incentives can help to cut down on the upfront costs of leasing.

Reach out to our team in Tifton by phone or email if you want more information on the financing options at Griffin Ford-Lincoln Inc. near Nashville, GA. To speed up your car buying process, you can fill out a financing application online to see if you get preapproved.

Contact

Griffin Ford-Lincoln Inc.

511 W Seventh Street
Directions Tifton, GA 31794

  • Sales: (229) 382-1300
  • Service: (229) 382-1303
  • Parts: (229) 382-1303

Finance Hours

  • Monday 8:30 am - 7:00 pm
  • Tuesday 8:30 am - 7:00 pm
  • Wednesday 8:30 am - 7:00 pm
  • Thursday 8:30 am - 7:00 pm
  • Friday 8:30 am - 7:00 pm
  • Saturday 9:00 am - 6:00 pm
  • Sunday Closed