Buy vs Lease in Libertyville, IL
Are you trying to decide whether to buy or lease a Cadillac vehicle? Both methods are viable options, but it all depends on your situation. To help you gauge which path is right for your adventures, our team members at Napleton Cadillac of Libertyville created this guide to explain whether buying or leasing is suitable for you.
Buying a Vehicle
There are multiple ways you can buy a model like the Cadillac Escalade or XT5. You can use a lump sum of cash or a check to purchase the vehicle, or sign up for a finance program. The latter is a highly practical path that allows you to split the total cost of any model into several payments. In addition, you’ll be able to receive funding from a lender to cover the balance of the retail price, which is known as an auto loan. The duration of this contract can be between 48 and 84 months. Your contract length is determined by the agreement you’ve made with the company that’s financing your loan. When you’ve made all the installments on the auto loan, you’ll be the sole owner of the vehicle, and you’ll be able to drive through the Libertyville area with pride.
Leasing a Vehicle
Do you like the idea of driving a factory-fresh Cadillac CT5 or CT4 to Saint Mary’s Lake every few years? If so, we encourage you to lease a car or SUV. This is a program where you borrow a model for a period between 24 and 48 months. Before you can secure a lease, you must agree to the mileage stipulations set by the company holding your contract. These limits are set in 10,000-, 12,000-, and 15,000-mile-per-year packages. Shoppers who’d like to maximize the distance of their agreements can speak with our Finance Department team. That way, we can negotiate on your behalf. As you get closer to the end of your lease, you’ll have the option to switch to a finance program to eventually own the car or SUV. Drivers who like the idea of leasing can roll into another leasing agreement and choose another model to borrow. If you’d like to go in a different direction, simply let the lease expire.
Which Is Better?
Buying and leasing are both equally suitable for shoppers, but it’s all determined by your specific needs. Purchasing a Cadillac would be practical for those who have a long-term plan for vehicle ownership. Additionally, choosing to buy a luxury car or any other passenger model will provide you with an asset you can use later. Leasing provides temporary ownership, and it offers an opportunity to enjoy some of the latest vehicles as they are released. On the other hand, buying a Cadillac means you’ll have no driving restrictions. So, you’ll be able to travel along the Tri-State Tollway without worrying about mileage limits. With a lease, you can reduce the risk of significant repairs, which is common in long-term ownership. To get a closer look at some of the discounts we offer, check out our lease and finance specials online.
