Should I Buy or Lease?


Lease Agreement

Congratulations! You've decided to buy a new Lincoln Corsair or Navigator! Have you decided if you should buy or lease? If you're unsure which is right for you when it comes to leasing vs. buying, the team at Five Star Lincoln Warner Robins can help! Learn everything you need to know about leasing vs. buying from us. Once you've decided the best option for you, it's easy to get into your next SUV, knowing that you made the right choice. 

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Leasing vs. Buying a Vehicle

"Should I buy or lease?" Not enough drivers in Macon or Dublin ask this question. While there's no right answer in leasing vs. buying, they are different enough to serve different purposes. The short answer to the difference between leasing vs. buying is that leasing is essentially a long-term rental while buying a vehicle means you'll own it outright. 

We'll cover the pros and cons of both options. If you'd like more information or you have questions, contact us and we'll work together to help you choose the right way to get your next Lincoln. 

Pros and Cons of Leasing a Car

Pros:

  • Lower Monthly Payments: In general, leasing means you'll have a lower down payment and lower monthly payments. You might have some fees to pay upon return, so make sure you read the contract carefully so you know exactly what you'll be paying and when. 
  • Worry-Free Repairs: Many vehicles will come with a three-year lease. As a result, most repairs will be covered within the terms of an existing lease.
  • No Worries About Resale: When your lease expires, all you have to do is bring your leased Lincoln back to Five Star Lincoln. You don't have to deal with the hassle of selling a car. 
  • Get a New Car Every Few Years: 

Cons: 

  • Restrictions: Most leases come with restrictions in regards to how many miles you can drive during the lease term, and how much wear and tear is acceptable. Going over these restrictions can mean penalty fees when you return the lease. 
  • Constant Monthly Payments: If you repeatedly lease vehicles, you'll always have a monthly payment unlike buying a car, which can be paid off.

Pros and Cons of Buying a Car

Pros:

  • Ownership: When you're finished with your monthly payments you'll outright own your car. But even when you're still paying off your loan, you can treat your vehicle as your own. That includes earning equity through your monthly payments. 
  • Customize Your Vehicles: The wear and tear restrictions on leases usually prohibit any customizations. When you buy your car you can customize or decorate your vehicle however you want within the law. 
  • No Restrictions: Put as many miles on your vehicle as you want. 

Cons:

  • Higher Monthly Payments: You can recoup some of this when you sell or trade your purchased vehicle. 
  • Rapid Depreciation: New cars can lose between 15% and 50% of their total value in the first five years. 
  • Larger Down Payment: When you finance a vehicle you'll need to put more money down. 

Buy or Lease a Lincoln From Five Star Lincoln Warner Robins

So, should you buy or lease your next Lincoln? The choice is yours at Five Star Lincoln Warner Robins! No matter which option you choose, apply for financing with us now to kickstart the process.