Should You Buy or Lease Your New Lincoln Car at Liccardi Ford Lincoln?

Are you shopping for your next new car? There are a lot of good reasons to consider something from the new Lincoln lineup. Sedans and SUVs like the Lincoln Continental and Lincoln Navigator offer some of the most robust vehicle packages on the present-day market.

Even when you choose a new car, however, your decision making will be far from over. You'll also have to decide on how you plan on paying for it. For most drivers, that means choosing between financing with a vehicle loan or driving your car home with the help of a lease agreement.

Drivers often have a lot of questions about these options. The most common one? Which option's the right one for me?

The Benefits of Financing Your Car with a Loan

The biggest benefit of buying your car with a loan is, quite simply, that you actually own the car. It's yours. You can do what you want with it, no matter what that might be.

That might mean driving it until the wheels fall off. You could customize it with personalized tweaks and modifications. You could even just park it in the garage and let it collect dust if that's what suite you.

That also includes selling it. If you find yourself in a situation where you need money, or just don't need the car anymore, you can sell it. You can also trade it in when you're ready to move onto your next car. The value of your vehicle can often knock thousands of dollars off the cost of your next vehicle.

The downside of a loan, however, is that they also tend to come with higher monthly payments. On the plus side, those payments are only temporary. Once you finish paying off your vehicle loan, you'll be able to enjoy your car payment free. For drivers looking to stay in the same car for the long stretch, that can add up to some big savings.

Why a Lease Agreement Might be Your Better Option

Lease agreements represent a different way of driving home in the car you want. Whereas with a loan you own the vehicle, a lease is more like signing onto a long term rental. The car is yours to use, but it's not technically yours. You have to return the car when you reach the end of the lease agreement.

That's a situation that can come with some substantial restrictions. You'll commonly have to adhere to conditions like annual mileage car. You'll also need to make sure the vehicle is in good condition when you finally decide to return it.

The big pro that balances all of that out, of course, is that you'll enjoy the benefit of monthly payments that are significantly smaller than anything you'd experience buying a new car with a loan. These smaller payments can make it easier to squeeze a new car into your budget, helping you save for the rest of life's expenses.

Schedule a Chat with the Experts on Our Finance Team Today

Still have questions about the pros of cons of financing with a loan or a lease? Reach out to the finance team at Liccardi Ford Lincoln. The team at our dealership in Watchung, NJ would be happy to provide the answers you need to make an informed decision about your vehicle purchase. Don't hesitate to get in touch with us about the financing options available to you today.