Lincoln Leasing vs Car Buying: Which is Best?

So you’ve found a Lincoln vehicle that you like; you are ready to take the next step with it. What is the best option to choose, though? Do you lease your Lincoln vehicle, or do you buy it?

 

Here at Sioux Falls Ford Lincoln, our finance team has helped numerous drivers with this conundrum. It all depends on your personal preferences and your driving habits. So what are the benefits of leasing and buying?

Buying: Loans & Ownership

The majority of drivers who buy a car are not actually paying the entire price when they arrive at the dealership. Rather, they take out an automotive loan to cover the difference between the initial cost and their down payment. In return, though, you have ownership of the vehicle. Even better, once you pay off the auto loan the car is entirely yours! That means you can drive where you want, get the service and parts you want, and otherwise have complete control over your driving experience.

It’s similar to buying a house in many respects. While you will be paying a loan monthly, there are a lot of benefits associated with it.

Leasing: Financial Flexibility

If you are someone who wants more financial flexibility, then you will love leasing. When you lease a car, you do not need to take out an automotive loan; additionally, your monthly payments are generally lower with a lease than with an auto loan (since leasing is a predetermined monthly amount, and an auto loan is based on the size and life of the loan broken down over a year). However, leasing comes with mileage parameters and condition requirements. It does not offer you the ownership benefits that buying would.

Stop by to Learn More!

If you have any questions you are always welcome to stop by and learn more about leasing and purchasing. Our team at Sioux Falls Ford Lincoln is proud to help you find the right car of the right price.

Visit us today and we can help answer any questions you may have.

We are proud to serve drivers throughout Sioux Falls near Hartford, SD; Luverne, MN; Mitchell, SD; & Brandon, SD.

Categories: Finance, New Inventory