When you're ready to drive a new Lincoln, one of the first questions you'll face is a simple one: lease or finance? Both are excellent ways to get behind the wheel of a luxury SUV. They just work differently, and one will suit your lifestyle better than the other. Here's everything you need to know to make a confident decision.
If you're shopping for an Aviator or Navigator at Mayfield Lincoln in Brampton, understanding the difference between these two paths will help you choose the one that fits your budget, your driving habits, and your long-term plans. There's no wrong answer. Both lead to the same destination: a new Lincoln in your driveway.
The Comparison Table
Before we go deeper, here's a quick side-by-side look at how leasing and financing compare. This table gives you the big picture at a glance.
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Leasing
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Financing
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Lower monthly payments - you pay for depreciation during the term only
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Higher monthly payments - you pay off the full vehicle value
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You return or buy the vehicle at term-end
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You own the vehicle outright at term-end
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Annual kilometre plan selected at signing
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Unlimited - drive as much as you want
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Easy to move into a new Lincoln every 2-3 years
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Trade in or sell when you're ready
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Best for drivers who love driving new, latest-tech vehicles
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Best for drivers who want long-term ownership and equity
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Leasing a Lincoln: What It Looks Like
Leasing is a long-term rental agreement with Lincoln Automotive Financial Services. You select your vehicle, your term (typically 24 or 36 months), and your annual kilometre plan. Then you enjoy the vehicle for that period in exchange for predictable monthly payments.
Because your payments cover only the vehicle's depreciation over your lease term - not the full purchase price - monthly lease payments are typically lower than financing the same vehicle. That means more Lincoln for your budget, or more budget left over for everything else.
At the end of your term, you have three straightforward options:
- Return the vehicle and move into the latest Lincoln model
- Purchase the vehicle at the residual value that was locked in at lease signing
- Extend your lease if you'd like a little more time
Leasing is particularly well-suited for drivers who enjoy always having the latest safety technology and infotainment features that come with a new Lincoln every few years.
Financing a Lincoln: What It Looks Like
Financing means borrowing the full purchase price of your Lincoln through Lincoln Automotive Financial Services (or your financial institution of choice) and repaying it over a set term, typically between 48 and 84 months in Canada. Once the final payment is made, the vehicle is yours - free and clear.
Because you're paying off the entire vehicle, monthly payments are higher than a lease. But every payment builds equity in an asset you'll own outright. Many drivers find significant value in that long-term relationship with a vehicle they've made their own.
Financing gives you complete freedom: no kilometre restrictions, no third-party wear standards at the end, and the ability to customize or accessorise your Lincoln exactly as you wish.
The Lincoln Red Carpet Lease
Lincoln's lease program - the Red Carpet Lease, offered through Lincoln Automotive Financial Services - is designed to make leasing as flexible and transparent as possible.
Key features include:
- Term options: 24- and 36-month terms are the most popular choices
- Kilometre plans: Multiple annual plans available - select the one that matches your driving habits at signing
- Advance Payment Program (APP): Prefer to pay upfront? You can prepay all lease payments in a single lump sum - a popular option for business owners and those who prefer simplified accounting
- Locked-in residual value: Your vehicle's end-of-lease purchase price is set at signing - no surprises later
- Three end-of-term choices: Return, purchase, or move into a new Lincoln - the decision is always yours
Protecting Your Investment Either Way
For lessees - WearCare Protection:
Ontario road conditions are hard on vehicles. Winter salt, gravel, and tight parking lots can leave marks. Lincoln's optional WearCare add-on protects you against unexpected excess wear charges at lease-end, covering items like minor dents, interior wear, and tire conditions beyond normal use. It keeps your lease experience worry-free for the full length of your term.
For finance customers - Extended Protection Plans:
Once your factory warranty period ends, a Lincoln extended protection plan keeps your vehicle covered against unexpected mechanical costs. For drivers on longer finance terms (72-84 months), this is a particularly smart addition. It ensures that your ownership experience stays as worry-free in year five as it was in year one.
The Ontario HST Difference
One practical difference worth knowing as an Ontario buyer is how HST (13%) is applied under each option:
- With a lease: HST is applied to each monthly payment - spreading the tax across your entire term. This means no large tax amount due upfront.
- With financing: HST is applied to the full purchase price of the vehicle at the time of sale - either paid upfront or rolled into your financed amount.
For many buyers, the lease's month-by-month HST treatment is a meaningful cash-flow advantage, particularly on higher-priced models like the Aviator or Navigator.
The Bottom Line
Choosing between leasing and financing your Lincoln comes down to how you drive, how long you plan to keep the vehicle, and what kind of flexibility matters most to you. If you love the idea of a new Lincoln every few years with lower monthly payments and predictable costs, leasing is a smart choice. If you want to build equity, drive without kilometre limits, and own your vehicle outright, financing is the way to go.
Still not sure which option suits you best? Our team at Mayfield Lincoln is happy to walk you through both - with real numbers based on the specific Lincoln model you have in mind.
