Buying vs. Leasing

Buying vs. Leasing

Buying vs Leasing

Weigh Your Options

When deciding on a new vehicle, choosing whether to buy vs. lease can be challenging. It varies from individual to individual, depending on the advantages you seek. As your automotive experts, we’re here to assist you in weighing the advantages and differences of buying vs. leasing a vehicle. Keep reading to discover which option best suits you, and visit our Lincoln dealer to start your journey.

Buying vs. Leasing: What’s the Difference?

As a driver, do you find yourself wanting to switch up your car every year or two? If the answer is yes, then leasing a vehicle may be a better-suited option than buying. If you’re looking to invest in your vehicle and build equity, purchasing a vehicle may be your better option. Below you’ll find the key differences between buying vs. leasing to help you make an informed decision.

Buying

Leasing

Ownership  You own your vehicle for as long as you wish on your own terms

Leasing  You are under a lease contract with terms for a designated amount of time

Loan payments  you will pay off the vehicle over time

Lease payments  Lower monthly payments for the vehicle’s depreciation and lower maintenance/service costs (Most automotive brands include the maintenance for 2-3 years)

Reselling  When you decide you want a new car, you will have to either trade-in or sell it

Trading In  At the end of your lease, you simply return it to the dealer without any worry of reselling

Investing  Even though your vehicle’s value will depreciate, you’ll still have equity and cash value

Renting  Although the value of the vehicle you lease has no future effect on you, you will have no equity or investment in it

Unlimited Mileage  Though more miles equals lower trade-in value, when you own your vehicle, there is no cap on the number of miles you can drive

Limited Mileage  A majority of leases limit the number of miles you can drive, and often, you have to pay for surpassing the limit

Ability to Customize  Since you own your car, you can customize any part of your vehicle on your own terms

Lease Restrictions  Having to return your leased vehicle in the same condition limits you from modifying your car in any way

Final Payments  Once you’ve paid off your car loan, you have no further payments to worry about

Renewing Payments  At the end of your lease, you can choose to purchase the car or decide on a new car to lease


The Choice is Yours

Leasing a car is a lot like renting an apartment; buying a car is a serious commitment and investment of your money. There are distinct downsides to both buying vs. leasing a vehicle, but there are also plenty of advantages to both processes. There is no incorrect choice when it comes to buying vs. leasing. It all depends on which process works best for you. Are you still conflicted on whether to buy vs. lease your next vehicle? Speak with our team, and we’ll work with you individually to find the best option for you.

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VIN: 5LM5J7XC9PGL31357
Stock: L230039
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Features

  • 360 Cameras
  • Remote Start
  • 3rd Rear Seat
  • 4WD/AWD
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VIN: 5LM5J7XC3RGL01354
Stock: L240004
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VIN: 5LM5J7XC9PGL28992
Stock: DX239840
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Stock: L240013
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VIN: 5LMCJ1DA5RUL09206
Stock: L240021
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VIN: 5LMCJ1DA8RUL05098
Stock: L240006
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VIN: 5LMCJ1DA9RUL08561
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Preston Lincoln

4313 Preston Road
Hurlock, MD 21643
Driving Directions
Sales 667-342-8922
Service 667-342-8923
Parts 667-342-8920

Monday 8:30AM - 8:00PM
Tuesday 8:30AM - 8:00PM
Wednesday 8:30AM - 8:00PM
Thursday 8:30AM - 8:00PM
Friday 8:30AM - 8:00PM
Saturday 8:30AM - 6:00PM
Sunday Closed
Monday 8:00AM - 6:00PM
Tuesday 8:00AM - 6:00PM
Wednesday 8:00AM - 6:00PM
Thursday 8:00AM - 6:00PM
Friday 8:00AM - 6:00PM
Saturday 8:00AM - 5:00PM
Sunday Closed
Monday 8:00AM - 6:00PM
Tuesday 8:00AM - 6:00PM
Wednesday 8:00AM - 6:00PM
Thursday 8:00AM - 6:00PM
Friday 8:00AM - 6:00PM
Saturday 8:00AM - 5:00PM
Sunday Closed