Lincoln Lease
From start to finish, find out what you need to know about leasing a new Lincoln here.
Written by Amber Reed
Reviewed by Jessica Barrett
Table of Contents
- How to lease a Lincoln
- How much does a Lincoln lease cost?
- What to do when your Lincoln lease is up
- How to find affordable car insurance for a Lincoln
- FAQs
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Lincoln’s Red Carpet Lease allows drivers to get the experience of having a luxury SUV, at a price that’s more affordable than purchasing one outright. But leasing isn’t always the best option—make sure you know the details, the big picture, and all the total costs before you commit.
Purchasing a new car isn’t the only way to get the experience of driving one! Leases allow you the flexibility of being able to drive a new and/or luxury car at a lower cost than if you were to purchase it outright. If you like to have a new car every few years and aren’t the type to get attached, leases can be a lot of fun.
The flip side to a lease is that they come with more restrictions, which may not be suitable for every driver. Leased cars have mileage limits, and your monthly payments are going toward depreciation and wear and tear. Unlike purchasing a car, you aren’t really building equity.
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How to lease a Lincoln
Before you head to the dealership, there are some vital details that you should get squared away first. Lay the groundwork for a great leasing experience by taking the time to:
- Find out your credit score, and take any steps to boost or repair it if needed. You generally need a higher credit score to lease a car than to buy one, and you should have a score of at least 700 to lease a Lincoln.
- Calculate your monthly budget. Your car payment should be no more than 15–20% of your monthly income, but it might need to be lower depending on your other expenses.
- Determine how much you can pay up front. Most Lincoln leases have a fairly large amount that’s due at signing—usually several thousand dollars.
- Calculate your anticipated mileage. Most leases have a cap of 10,000–15,000 miles per year, so if you drive a lot or are planning a road trip, a lease might not be the best choice. Lincoln does offer multiple mileage options with their leases, so make sure you get the one that’s best for you.
Once you’ve done your homework, it’s time to hit the Lincoln dealership of your choice and scope out their
leasing options
. If you’re in the market for something on the more economical end, check out the Nautilus or the Aviator. Feeling like something extra posh? The Navigator is the one for you!Remember—just like when buying a new car, the dealership will try to upsell you as much as possible. Be vigilant and make sure not to exceed your budget. This is one of the reasons why it pays to have your finances well sorted ahead of time.
The final step: shop for insurance
Car insurance isn’t included in a lease, and you’ll need to get good coverage as part of the terms of your agreement. After you’ve found the perfect Lincoln,
Jerry
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How much does a Lincoln lease cost?
So, we’ve established that leasing a Lincoln is typically less expensive than buying one, but how much is it really? The amount you pay for your lease is affected by a lot of factors, such as:
- The selling price you negotiate
- The make and model you choose
- The length of your lease
- The interest rate and down payment amount
- Any additional options or add-ons you choose
- Sales tax in your state
Lease offers vary by time of year, region, and dealership. Generally, you can expect a 36-month lease on a 2022 Lincoln Nautilus to cost about $542 per month. A Navigator will run about $1,201 per month.
But remember, that’s just your monthly payment. The upfront expenses for a Nautilus will include:
- First month’s payment: $542
- Down payment: $2,000
- Acquisition fee: $645
You’re looking at $3,187 that will be due at signing, and that doesn’t include sales tax or any additional fees or options.
At the end of the day, it could likely cost $4,000–$5,000 up front to lease a new Lincoln, so make sure you take all factors into account when determining your budget and the options that are right for you.
Services included in a Lincoln lease
Complimentary
gap insurance
is included as part of your lease package, which is a plus as it’s something that many lessors require you to purchase anyway. Lincoln doesn’t include routine maintenance with its leased vehicles. Any major repairs needed during your lease would likely fall under the factory warranty, but Lincoln does offer a few different
Vehicle Protection Programs
if you want to make sure that your maintenance costs will be covered and the vehicle is well protected. Lincoln also offers something called
WearCare
with its leases, which is a program that will give you protection against unexpected extra wear and use charges at the end of your lease. If you anticipate more wear than normal or just don’t want to have to worry about it, then it might be worth purchasing. Key Takeaway The monthly payment for a Lincoln lease will range from about $542 to $1,201, but remember to factor in other expenses such as taxes, add-ons, and additional fees.
What to do when your Lincoln lease is up
When your lease comes to an end, you can return the car (and lease a new one if you like) or you can purchase it if you don’t want to say goodbye.
How to return a leased Lincoln
For the specific steps on how to return your Lincoln at the end of your lease, you’ll need to log on to Lincoln’s
Account Manager
or contact your original dealer. In general, though, returning a leased car entails:- Scheduling a pre-inspection at least 30-60 days before the end of your lease
- Making any needed repairs
- Making sure you are current on all payments
- Removing all personal items and making sure all original equipment (keys, manual, headrests, etc.) are returned to the vehicle
- Scheduling a final inspection and time to return the car to the dealership
Lincoln charges a disposition fee of $300–$400 on all returned leases, but if you’re thinking about leasing a new Lincoln, your loyalty might be rewarded with a waived disposition fee and/or $600 in excess wear and tear charges on your old vehicle. Ask your dealer for details if you’re thinking of getting a fresh lease.
How to purchase a leased Lincoln
If you’ve thoroughly bonded with your new Lincoln and can’t bear to say goodbye, you have the option of purchasing it at the end of your lease. Check the terms of your Red Carpet Lease for the lease-end purchase price, or contact the original dealer.
You can apply for financing through Lincoln’s
Automotive Financial Services
, or you can check out the rates and options that are available at your local bank or credit union. How to find affordable car insurance for a Lincoln
Whatever kind of Lincoln you decide to go with, you need
car insurance
that provides top-rated protection. Jerry
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FAQs
Is Lincoln leasing worth it?
If you want a new Lincoln without the cost of purchasing it outright, then leasing could definitely be worth it. But if you’re the type of driver who likes to keep a car for a long time or heavily customize it, then leasing is not the best option.
What’s the cheapest Lincoln you can lease?
The exact cost of your lease is going to depend on a lot of variables, from the negotiated purchase price to the terms of your lease. Generally, the cheapest Lincoln to lease will be the Nautilus, at a monthly payment of around $542.
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