Â
Should I Lease or Finance My Next Vehicle?
A question as old as dealerships themselves, deciding whether leasing or financing is the right choice is a struggle most people face when shopping for a new car, truck or SUV. While there is no one-size-fits all answer, the quickest answer is simply "It depends." Not very helpful, right?
Here at Fiesta Lincoln in Mesa, AZ we know this choice isn't easy, so we put together a quick page comparing the pros and cons of both leasing and financing. Whether you're a first-time buyer or a seasoned car-buying pro, this list of pros and cons will clear up any confusion between the two financing options, making your next buying experience that much easier. So read on and find out more below!
Should I Lease My Next Lincoln Vehicle?
Leasing Pros
- More vehicle for less money
- Shorter loan terms
- Ability to drive a new vehicle every 24 to 48 months
- Less repair costs thanks to new vehicle maintenance plans
- Pay less sales tax
- Option for little to no down payment
Leasing Cons
- Vehicle usage limited based on mileage
- You don't "own" the vehicle at the end of the lease - but there is an option to buy
- Mileage overage costs can be costly
Should I Finance My Next Lincoln Vehicle?
Financing Pros
- You own the vehicle at the end of the financing agreement
- Can be used as a trade-in at a later date
- Vehicle can be modified and customized as you please
- No mileage restrictions or penalties
Financing Cons
- Higher payments than lease agreements
- Typically requires a higher down payment
- You're responsible for repair costs once the maintenance plan expires
- Your cash is tied up in a vehicle that depreciates
Test Drive at Fiesta Lincoln Today
Jury still out on whether you should lease or finance? That's okay - here at Fiesta Lincoln in Mesa, we believe in a no-pressure, stress-free shopping experience. Our sales professionals will gladly walk you through any vehicle on our lot, explain the features and even take you on a test drive.
Once you've found the perfect Lincoln, our in-house finance professionals will explain the benefits of both leasing and financing in simple, easy-to-understand terms so you can make your decision.
Don't let the confusion of financing and leases keep you from the new vehicle you need, visit Fiesta Lincoln in Mesa for a test drive today!