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Driving a new Lincoln around Broomall can be a rewarding experience. Lincoln produces some outstanding luxury vehicles, and the new slate of models is no exception. Different finance options exist for those interested in a new Lincoln. Some choose to finance their purchase while others may wish to lease a model. At Pacifico Marple Ford Lincoln, we provide both options. Our sales team knows different people have unique preferences in the Philadelphia area. So, we try to accommodate buyers and leasers. Others, however, may wonder what the differences are. To learn more continue reading.
Similarities Between Financing and Leasing
Before we mention the differences between financing and leasing a Lincoln in the Havertown area, let's talk about the similarities. Whether financing or leasing, you make a down payment on the vehicle. Trade-ins are an option, as well. Each month, you pay a minimum monthly fee for a set term. What happens at the end of that term highlights the main differences.
Financing vs. Leasing: The Differences
You keep paying on a finance deal until the balance is zero. After paying off the loan, you then own the vehicle. You must pay the minimum amount for two or three years with a lease, depending on the deal. When the term ends, you can return the vehicle, or you may have the option to buy it. Our dealership retains ownership of a leased vehicle. Also, leased models come with a maximum annual mileage allotment. Leases will pay for overages if they have any.
Returning vs. Owning the Vehicle
Many people interested in leasing a Lincoln in Haverford prefer upgrading to a new model every two or three years. Buyers intending to own may prefer to keep driving the vehicle for several years before trading it in or selling it. Personal preference factors into the overall decision.
Contact Our Dealership about Leasing and Financing
At our dealership near Springfield, PA, the sales team can help you successfully select a new Lincoln. No matter if you want to lease or finance one, the choice is yours and we'll help you get a great deal.
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Finance