In the world of automotive finance, leasing has become an incredibly popular option for many – particularly in the realm of luxury vehicles, as depreciation is generally more rampant and prices are higher, so shoppers can score lower monthly payments by going that route. However, this hasn’t necessarily been the case with new Lincoln buyers, who have long gravitated more toward financing their purchase rather than leasing a vehicle. That continued to be true in Q4 2024 as well, too.
According to Experian’s Q4 2024 State of the Automotive Finance Market report, 62.15 percent of new Lincoln shoppers opted to finance their vehicle in the past quarter, versus 37.85 percent who chose to lease instead. That’s a higher finance percentage than many of Lincoln’s rivals, including BMW, Mercedes-Benz, Cadillac, Acura, Genesis, Infiniti, Lexus, Porsche, and Audi, notably, but it’s nothing new for Ford’s luxury arm. In fact, in Q3 2024, 59.57 percent of new Lincoln shoppers opted to finance their vehicle versus 40.43 percent who chose to lease
This has long been the case with the Ford brand as well. In Q4 2024, 79.97 percent of Ford buyers chose to finance their new vehicle acquisition, compared to 20.03 percent who leased their vehicle. That finance percentage was once again among the highest in the industry, bested only by GMC, Ineos, Mitsubishi, Chrysler, Dodge, and Ram. However, this doesn’t apply to every model in Ford’s lineup. In fact, as Ford Authority previously reported, 56.63 percent of Ford Mustang Mach-E customers opted to lease their new EV in the last quarter of the year, compared to 38.96 percent who financed it and 4.41 percent that paid cash.
This falls in line with most of the top 10 best-selling new EVs over that time span, as the majority of Honda Prologue, Hyundai IONIQ 5, Cadillac Lyriq, Chevy Blazer EV, and Rivian R1S customers also opted to lease – though most Tesla Model Y, Model 3, and Cybertruck customers financed their new vehicle.
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