WHAT IS THE DIFFERENCE BETWEEN A LEASE AND A LOAN WHEN BUYING A LUXURY CAR?

A: When you obtain a loan to buy your new or certified pre-owned (CPO) Cadillac, your down payment and monthly payments go toward the total purchase price of the vehicle. When the term of the loan is complete and the loan is paid in full, you own the vehicle outright. With a lease, you make monthly payments for the term of that lease within specific limits set up in the contract. Once the term of the lease is complete, the vehicle is returned to the lessor. You do have the option to buy the vehicle after the lease.

Benefits of Leasing vs. Buying

Leasing Benefits

  • Potentially pay less per month. Monthly lease payments are usually lower than monthly loan payments for the same term, because you are paying only for the vehicle's expected depreciation during the lease term. 
  • Enjoy driving a new car more frequently. You can also drive the latest models and experience the best technology more often as well! 
  • Guaranteed Asset Protection is a standard feature.
  • Have options at the end of your lease - including leasing another new Honda or buying the one you've grown to love. If you decide to buy the car at lease-end, you will get a no-hassle preset purchase price.
  • Minimize repair costs. Many people lease for the length of time the manufacturer's warranty is in effect. That way, most repairs are typically covered.

Finance Benefits

  • Pay to own your new car, not just to use it for a few years. After your final payment is made, you can drive your Honda for years to come. It's all yours. 
  • Drive an unlimited number of miles- especially important if you typically drive more than 12,000 to 15,000 miles per year.
  • Modify or repaint the car, or install custom equipment, as you see fit.
  • Enjoy the full benefit of your car's trade-in or resale value.

How do I choose between a loan for purchase or a lease?

** The correct financing option largely depends on three factors: what you want to drive, how much you plan to drive it, and how long you want to keep it. 

You might choose to lease rather than obtain a loan if:

  • You want the newer vehicle for your monthly payment.
  • You drive less than 15,000 miles a year (annual maximum miles may vary; please see dealership to find out the latest deals) 
  • You prefer to trade in your car every three years or less.
  • Owning a car outright is not important to you.

Cadillac Lease Offers in PINEVILLE

If you're looking to lease or buy a new Cadillac, our dealership is your PINEVILLE dealer. We are here to provide you with the value you expect. Don't miss out on lease specials for our customers shopping from PINEVILLE. Let Cadillac of South Charlotte help you find the sedan, crossover, coupe, SUV, or V-Series that is right for you.

You might want to finance and get a loan to buy if:

  • You want your monthly payment to apply to ownership.
  • You plan to enjoy your vehicle for a long time.
  • You want to customize your vehicle.
  • You want the maximum flexibility regarding the number of miles you drive.
  • You want control of the length of time the vehicle is in your possession.

Current Offers