Lease Vs Buy in Toronto, ON

Leasing and Financing at Downtown Lincoln

A common question that car buyers have to consider is whether they should lease or finance their next new vehicle. Each option has its unique advantages, and understanding these can help you choose the best path for your lifestyle and financial goals. At Downtown Lincoln, we want our customers to make the most informed decision possible, that’s why we’ve created this guide to help ensure that you drive away in the Lincoln model that best suits your needs.

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Leasing

In a nutshell, an automotive lease is a contractual agreement between yourself (the lessee) and a leasing company (the lessor), where the use of a vehicle is granted for a specified period of time in exchange for regular payments. Essentially, when you lease a vehicle from Downtown Lincoln, you agree to pay for a portion of the vehicle’s value during the duration of your lease term.

Benefits of Leasing

Lower Monthly Payments:

When you lease, you're essentially paying for the vehicle's depreciation during the lease term rather than the full purchase price. This often results in lower monthly payments, allowing you to enjoy the luxury of a Lincoln vehicle at a reduced cost!

Drive a New Lincoln More Often:

Leasing allows you to experience the latest Lincoln models every few years. At the end of your lease term, you can easily upgrade to a new Lincoln with the most current features, technology, and design innovations.

Lower Repair Costs:

With a lease, your Lincoln is generally covered by the manufacturer's warranty for the duration of the lease term. This means lower repair costs and peace of mind knowing that most potential issues are covered, keeping your out-of-pocket expenses to a minimum.

Flexible Ownership Options:

At the end of your lease term, you have the two options; to return the vehicle or buy it outright. This flexibility allows you to experience a vehicle without committing to full ownership at the time of purchase. If you choose to keep your leased Lincoln vehicle, you agree to finance the remainder of the vehicle’s value.

Financing

Another popular method of vehicle ownership is through automotive financing. By opting to finance a vehicle, you agree to purchase the vehicle through a creditor that you are contractually obligated to make regular payments to, often at an agreed upon interest rate. At Downtown Lincoln, we maintain relationships with Canada’s major banks and financial institutions so that our customers get the best rates possible.

Benefits of Financing

Ownership and Equity:

When you finance a Lincoln, you own the vehicle outright once your loan is paid off. This means you can keep the vehicle for as long as you want and eventually drive it payment-free. Over time, you build equity in your vehicle, which can be beneficial if you decide to sell or trade it in for a new model.

No Mileage Restrictions:

Unlike leasing, purchasing a Lincoln means you're not bound by mileage limits. This is ideal for drivers who put a lot of kilometers on their vehicle or enjoy long road trips. With ownership, you have the freedom to drive as much as you want without worrying about excess mileage fees.

Customization Freedom:

Owning your Lincoln allows you to customize your vehicle to your liking. Whether you want to upgrade the interior, add performance enhancements, or modify the exterior, ownership gives you the flexibility to personalize your Lincoln to suit your style and needs.

Shop New & Used Lincoln Vehicles at Downtown Lincoln

Whether you’re leaning towards leasing or buying, our knowledgeable team at Downtown Lincoln is here to help you make the most informed decision. We offer a range of financing and leasing options tailored to fit your budget. Visit our showroom at 77 E Don Roadway to explore our inventory of the latest and greatest Lincoln SUV models and let us help you find the perfect financing solution for your lifestyle.