Lease a New Cadillac in Wilmington, De
What's the difference between a car loan and a lease?
When you get a car loan, you're actually buying a Cadillac. In other words, if you make all your monthly payments, at the end of the loan period (or "term"), which could be anywhere from 36 to 72 months, you'll own your Cadillac outright. When you get a lease, you're not buying that Cadillac, you're simply making payments, usually for 36 months. At the end of the lease, you may be billed for damages or other charges, and that Cadillac goes back to our dealership.
What are some advantages of a lease?
Perhaps the biggest "pro" in favor of a lease is that your monthly payments really will be lower with a lease than they would with a loan for the same new Cadillac model. Another leasing "pro" is that you don't have to worry about selling that used Cadillac at the end of the 36-month lease. You hand it back to us at Delaware Cadillac and you can get a new lease and a new Cadillac. You also have quite a few other options at the end of a Cadillac lease.
What are some disadvantages of a lease?
One disadvantage is that, when you do Cadillac XT5 leasing, you never own your Cadillac. With a car loan, you're gradually building ownership, and the value grows over the life of your loan. That's value you can use to help buy your next car. With a lease, you're not building value. With any lease, you pay for excess damages and you pay a fee if you drive more miles than the annual limit, usually about 12,000 miles.
Who is leasing especially good for?
Leasing may be a good choice if you drive fewer miles around Salem, NJ or Elkton, MD than the yearly "cap" which, again, is usually around 12,000 miles/year. Leasing might work if you don't have a lot for a down payment and your monthly cash flow is tight. With any lease, you usually still have to make a down payment but your monthly payments are lower.
What happens at the end of my lease when I return the Cadillac to you?
The choices are up to you. Many people return their leased Cadillac XT5, pay any "lease-end" charges that result from the final inspection, and then start a new Cadillac lease on another new Cadillac. You can also walk away from leasing and buy a new Cadillac with a car loan. Learn more with our Cadillac End-of-Lease Guide
How can I save money on leasing a Cadillac?
One way is to look for Cadillac lease specials and leasing deals on our website. Another way is to explore our Low Payment Cadillac Vehicles. These are specials on more affordable Cadillac models with lower lease payments. Fortunately, Cadillac offers competitive pricing and luxury features, making leasing an attractive option. Consider leasing a Cadillac model like the Cadillac Escalade, Cadillac XT5, Cadillac XT4, Cadillac XT6, Cadillac CT5, or Cadillac Lyriq.
Talk to us at Delaware Cadillac to learn more
We encourage you to talk with our friendly, knowledgeable financing specialists in the Finance Center at Delaware Cadillac. They can answer any leasing questions, take the mystery out of leasing and help you decide if leasing a Cadillac is right for you. And don't feel intimidated. We help people every day who are thinking about leasing for the first time, so we'll make it easy for you at Delaware Cadillac.
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Delaware Cadillac
1606 PENNSYLVANIA AVE.
WILMINGTON, DE 19806
- Sales: (877) 337-1101
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