Stivers Lincoln – Choosing to buy or lease a new Lincoln near Auburn AL
Many of our customers at Stivers Lincoln choose to use an auto loan or a lease to establish monthly payments for their new SUV. Before deciding on a specific financing option, it is important to understand the key differences between them. A new auto loan could have a term up to 84 months, and the ability to adjust the term gives you flexibility over the monthly payment. Often, our customers plan to optimize their enjoyment of their new vehicle and intend to drive it long after the loan is paid off without the weight of a regular auto payment. With a loan, you can modify your new Lincoln as desired and can avoid a mileage cap. When you are ready to trade up to a newer Lincoln, you can apply your equity in the vehicle toward your purchase.
The term length on an auto lease, on the other hand, is typically between two to four years. Even with a shorter term, however, the monthly payment may be lower than a loan payment. During the lease period, you cannot modify the vehicle, and a mileage restriction will apply. As the end of the lease approaches, you have some flexibility. The vehicle generally must be returned to the dealership at the end of the lease. However, if you want to continue driving it, you could extend the lease or even pay the remaining balance to buy it.
When deciding between a lease and a loan near Auburn, you may want to review the specific payments and terms available for both options. The payments and terms are based on your unique qualifications, but you do not need to apply directly to many lenders to find a competitive option. Instead, simply spend a couple of minutes right now applying on our website to discover the terms that you qualify for. Also serving Birmingham, Hoover, and Mountain Brook Alabama.
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