Leasing vs Buying

Before determining whether you should lease or buy your next vehicle, figure out which option is best for you. Contact Parks Lincoln of Tampa and let our finance experts help you make the best decision. You can learn more about both options below.

When Purchasing a New Vehicle

  • You pay for the whole vehicle
  • There's usually a down payment required
  • You pay the sales tax in cash, or roll these taxes into your auto loan (and pay an interest rate)
  • Your first payment is usually due a month after signing your contract
  • Ideal if you like to keep your cars for long periods and put lots of miles on your vehicles

When Leasing a New Vehicle

  • You pay only for what you use
  • Down payment is optional
  • Sales tax is only paid with your monthly payments
  • You're charged with a money factor similar to the interest rate on a loan
  • Your first payment is made when the contract is signed

Guaranteed Purchase Price Advantage

  • Know ahead of time what it will cost to purchase your Lincoln at lease-end
  • If that value is more than the guaranteed purchase price, you can purchase it at the guaranteed price
  • If that value is less than the guaranteed purchase price, you can lease or purchase a new Lincoln or simply return your current lease

Lease Through Lincoln Financial Services if You're Wanting to...

  • Drive a new Lincoln, but keep your purchasing options open
  • Customize your new vehicle with Lincoln Genuine Accessories
  • Drive a new Lincoln vehicle every few years
  • Have low monthly payments and low up-front costs
  • Have a guaranteed purchase price should you decide to purchase at lease-end

Credit Pre-Approval

At Parks Lincoln of Tampa we believe that the past is the past, and your credit history shouldn't stand in the way of you obtaining a new vehicle. We've helped thousands re-establish their credit while also putting them in the new or late model vehicle they've been wanting.

Make your decision and fill out our online credit application, then one of our financial experts will contact you. When it comes to your credit you should go with a name you can trust, and that's exactly what Parks Lincoln of Tampa is all about.

Leasing Frequently Asked Questions

What credit score do you need to lease a Lincoln?

The typical minimum for most dealerships is 620. A score between 620 and 679 is near and a score between 680 and 739 is considered ideal by most automotive dealerships. If you have a score above 680, you are likely to receive appealing lease offers.

What are the best Lincoln Lease Offers?

Lincoln incentives include great financing offers on all brand's 2021 models. You'll find four-year lease terms on the Lincoln Corsair, Nautilus, and Aviator. The Corsair lease special costs $359 per month with $4,069 due upfront, and the Nautilus requires $412 per month and $4,706 down.

What is the lease payment on a $50,000 car?

To find out how much of your monthly payment will be interest, add the vehicle's purchase price to its predicted residual value and then multiply by the money factor. In the event our $50,000 car: $50,000 + $30,000 = $80,000. $80,000 x 0.0028 = $224 per month, which is the finance fee.

What is the best month to lease a car?

Some domestic manufacturers raise their prices several times, which can add a few hundred dollars to the price of the vehicle. Most new models are introduced between July and October, so this is the time you should try to lease to maximize your savings.

Contact Our Lease Specialists