Here at Courtesy Lincoln, we strive to provide no-hassle auto financing to all of our customers. We make that possible by offering the expert assistance of our Finance Department to help you secure a budget-friendly price on a new vehicle.

One decision you may need to reach is whether to buy or a lease a new vehicle. There are advantages to both methods. Most customers make the decision based on the monthly payments and how long they plan to drive the vehicle.

How long do you plan to keep your new vehicle?

Do you tend to keep your vehicles for as long as possible, or do you purchase new vehicles frequently because of the latest body styles, technology, or that "new car smell"?

Leasing a car allows you to get a new vehicle more often. You'll have the chance to return your leased vehicle for a new one when your lease expires. That way, you're always driving a late-model vehicle!

However, the most significant benefit of buying a car is that once you've paid it off, you own it. You can keep it, trade it, sell it, or gift it.

How many miles do you drive per year?

Do you drive between 10,000 and 15,000 miles per year, or is your mileage unpredictable?

A car's mileage affects its depreciation. If you drive more miles than the average American driver (12,000 per year) a lease may not make sense. Leases typically come with a limit of 10,000-15,000 miles per year. Failing to adhere to the lease requirements can result in a per-mile fee for additional miles driven.

Purchasing is the better option if you're hoping to get the most mileage out of your vehicle. Leased vehicles usually have mileage limitations, while that's never the case when financing a car. You are able to drive thousands of miles per year without worrying about overage fees!

Are you looking for a lower monthly payment?

Which is more important -- Lower monthly payments with a higher long term cost, or a lower long-term cost with higher initial monthly payments?

If you are looking for a lower payment than you currently have, leasing is a good choice. Leasing offers a lower monthly payment than financing with the same loan term. That's because you're only responsible for a fraction of the car's total value when leasing. Instead of making payments on a car that depreciates, you invest your money into something that appreciates. Vehicle leases also do not typically require a substantial down payment. This may help you afford newer vehicles than when purchasing outright.

Are you worried about the depreciation of your vehicle?

Which is more important -- Building equity and owning your vehicle outright even though it means higher monthly payments, or building no ownership value with the benefit of significantly lower monthly payments?

If you usually trade in your vehicle for a new one before it is paid off, leasing may be a good choice for you. You don't have to worry about resale value with a lease. If the value of the vehicle drops when you are leasing it doesn't affect you. On the other hand, if the vehicle holds its value better than expected, you may choose to buy the vehicle at the end of your lease.

Are you concerned about long-term vehicle maintenance and repairs?

Which is more important -- Driving a new vehicle every two or three years with no major repair risks - or driving one vehicle for many years and assuming responsibility for all maintenance repairs after the first few years?

With a 3 year lease your vehicle is under factory bumper-to-bumper warranty for the entire lease and the manufacturer will cover the cost of most repairs. A newer vehicle is unlikely to need costly repairs.

Which is right for you?                 

There are distinct benefits to buying and leasing. When it comes to buying or leasing a new vehicle, ultimately the decision is based on your budget and needs. Still not sure what to do? Learn more about auto financing when you visit our showroom. Our Sales Professionals are here to offer you honest advice and friendly service to help make the decision easier. Speak with a Salesperson and test drive today!


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Courtesy Lincoln

401 Pleasant Valley Blvd.
Directions Altoona, PA 16602

  • Sales: (814) 942-3000
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