Buy vs. Lease | Punta Gorda, FL
Once our customers’ choose their new Lincoln from our inventory here at Gettel Lincoln, the next question is whether they should lease or buy. Most are familiar with the advantages of buying, but what about leasing? Which option is best for your lifestyle, and which will serve you best in the long-run? Our finance experts have helped others before with this same dilemma, so we’ve compiled our experience and research together for a side-by-side of the advantages of both to help you decide before you even pick your favorite model. And since this is a big decision, give us a call to discuss your options or chat us online for a quick response.
Why Lease
a Vehicle?
Minimal Upfront Cost
Leasing is inherently renting your vehicle from the dealership. In your lease contract, you agree to make monthly payments until your lease-end, where you’ll return the vehicle and you’re free to lease or buy again. Similar to renting an apartment rather than buying a house, your financial responsibility is reduced when leasing, and your monthly payments may be as well. And with our new car specials here at Gettel Lincoln, your down payment could be lower than that required to purchase the same car, making your upfront costs minimal.
Lifestyle Flexibility
The terms of your lease will vary depending on your credit history and our current specials, but most lease contracts last approximately 24-60 months and lessees are given around 7,500-15,000 miles to drive on the car each year. If you go over the allotted miles, fees will follow, but you have the option to purchase more at signing, if desired. But due to the nature of leasing, you could have affordable payments with shorter terms, meaning you have the luxury to drive a new Lincoln every 2-3 years for less and are spared the hassle of trading or selling at lease-end.
Warranty Protection
Since leasing usually means leasing a new vehicle, your Lincoln could still be covered under its manufacturer warranty for your entire lease period. That means the financial responsibility of extensive vehicle maintenance and repair won’t become your burden once the warranty expires — that’s only a cost owners would have to absorb.
Why Purchase
a Vehicle?
True Freedom
Owning instead of leasing has major perks, especially when you own a new or used Lincoln. First, after completing your monthly payments, your Lincoln is yours to continue to make memories with for many years to come. First dates, job interviews, concerts, road trips. The list goes on. Leasing requires you to hand over a vehicle you love with an option to buy, but owners decide when to trade, sell or keep. And second, you have the freedom to customize your Lincoln with OEM parts and accessories to your taste. Upgrading sound systems or the paint of your vehicle becomes a win-win investment that leasing doesn’t allow.
Financial Flexibility
If you’re in it for the long-haul, buying is for you. Even with a higher down payment, buying is more financially responsible, and you have more options. Paying in cash is allowed, and you can pay in full to avoid monthly payments. Buying also gives you the freedom to seek another lender for financing, too, although we will always recommend our friendly and experienced finance center here at Gettel Lincoln for your financing needs (Can you blame us?). And with each monthly payment, your investment grows a better return when buying. The money paid to the dealer each month when leasing is lost if you choose to return the car at lease-end.
No Mileage Restrictions
Even when you’re still paying off your Lincoln, there are no yearly mileage restrictions, fees, or requirements to ask permission to leave the country with your vehicle when buying. Once your Lincoln is paid in full, you have complete independence from your lender or dealership. Lincoln also offers Lincoln Access Rewards, an exclusive way to reward members with extra perks, and the Lincoln Way™ App1 to schedule service, choose pickup and delivery2 or contact your personal Concierge.
If you’re ready to be the proud owner or lessee of one of our new Lincoln models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 2021 Tamiami Trail, Punta Gorda, FL 33950. We look forward to serving customers from Punta Gorda, FL, near Port Charlotte, North Port, Venice and Fort Myers.
DISCLAIMERS:
1The Lincoln Way™ App, compatible with select smartphone platforms, is available via download. Message and data rates may apply.