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Finance Department - Tropical Ford
Financing at a dealership

Should You Buy New or Used?

One of the first things you’ll have to do when car shopping is to decide between a new or used car. There are several pros and cons to each, which is why we’ve put together this information to help you make the right decision. From cost to features, we’ve considered the most important qualities.
 
Why Buy New?
 
For starters, a new car is just that – new. A lack of previous owners means there are no fender benders you’re not aware of, no funny smells, wear and tear, or other issues. Plus, some people simply love that new car smell.
 
New cars can also be made to order if you are willing to spend extra on customization. This means you can get special features and trim, modified specifications, special colors, and more. There’s no other way to get exactly what you’re looking for.
 
Another great perk is the abundance of features. If you love the latest entertainment options, you’ll want a new car. You’ll find multimedia, audio, navigation, smartphone connectivity, Wi-Fi, and more. Plus, updated software improves user-friendliness.
 
New cars also come with the best in safety and engineering, as well as fuel economy and emissions control. Brands are always making improvements, which simply means that the newest cars have the best in safety, efficiency, and more.
 
Why Buy Used?
 
When buying used, you save money—plain and simple. Cars can lose over 45 percent of their initial value in the first three years. If you have patience, you can save a considerable amount of money. Plus, you tend to save when it comes to insurance costs.
 
Looking for something specific? Some cars, trims, and/or features are only offered for certain model years. Therefore, you actually get a unique selection when you shopped used. From generation to generation, vehicles can be drastically different in looks and features.
 
These are some of the pros to buying new and used. If affordability is your biggest concern, you’ll likely want to buy used. However, there are several reasons to consider buying new, from features to customization. Stop by Tropical Ford today to find the car that’s right for you.

Buying vs. Leasing in Orlando, Fl

Buying or leasing—which is right for you? There are several reasons to consider buying or leasing, which is why we’ve put together a list of pros and cons to help you decide. Read on to learn more about the processes, as well as the advantages, of buying and leasing.
 
Buying
 
Buying typically involves making a large down payment, from 10 to 20%, and then financing the rest. You can also simply buy the car outright—either way, buying tends to be more economical than leasing in the long run. Other advantages to buying are that you can modify or sell the vehicle whenever you like, and you can also drive it as often as you like (there are no mileage restrictions).
 
The disadvantage to buying is that it costs more up front. If you don’t have much in the way of savings, you may have difficulty making a down payment. Monthly payments also tend to be higher, and you have to keep the same car for several years to really save, compared to leasing.
 
Leasing
 
What exactly is leasing? Many describe it as renting, though it’s a little more complex than that. Essentially, you sign a contract (usually 1 to 3 years), make small payments, and maintain the car. The major advantage is that it costs less up front. You can drive off the lot with little to nothing down, and you tend to spend less. You’ll also pay less in taxes, there are no trade-in fees, and you get a new car every few years.
 
The obvious disadvantage is that you don’t own the car at the end of the lease. Typically, you end up spending slightly more over several years (compared to buying), and it can be costly if you need to break a contract. Plus, some leases have mileage restrictions, so you can’t add too much wear (12,000-mile limits are the most common, based on the average American’s driving).
 
Still curious about buying vs. leasing? Stop by Tropical Ford. We have a massive selection, helping you to find the car that’s right for you. Plus, our friendly staff can give you more information about why you might buy or lease.

Car Financing in Orlando, Fl
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