Here at Cole Valley Cadillac, we offer affordable lease deals on new Cadillac vehicles like the new 2019 Cadillac XT5 Standard. For a limited time only, enjoy an ultra-low mileage lease for well-qualified buyers for $399/month for 39 months with no security deposit required. Peruse our available lease inventory and search for  a new 2019 Cadillac XT5 offered in a variety of body colors, trim levels, and price points to find an SUV that best suits your needs this summer.

Located just off the Route 82 bypass in Warren, OH, our Cole Valley Cadillac dealership is never too far away from your home in Youngstown. For the best lease offers and affordable specials happening right now in our new Cadillac inventory, visit our Cole Cars dealership today and ask to speak to a dedicated sales representative to learn more.

What is Leasing?

Let's start off with the basics: So, what does it mean to lease a vehicle? When you lease a vehicle, you enter into a contract with a d where you agree to take possession of the vehicle for a specified amount of time, and for an agreed-upon amount of money, with most leases running somewhere in the area of two to five years. This differs from purchasing in a few ways:

•    You don't own the vehicle, you are paying for the right to use the vehicle during your lease terms.

•    Your monthly payments are based on the depreciation of the vehicle while in your possession, rather than the overall cost of the vehicle.

•    You won't build equity as your pay your lease.

•    You can't customize your vehicle.

•    You can return your vehicle at the end of the lease (or before the end, with a penalty fee).

What is Buying with a Loan

When you buy with a loan, the process is a bit different. Using an auto loan to purchase a vehicle means the vehicle belongs to you, and you can drive it as far and wide as you'd like. There are few ways this differs from leasing meaningfully:

•    Your monthly payments are based on the overall cost of the vehicle, not just the cost of depreciation.

•    When you buy with a loan, your payments do amount to equity in a vehicle, which is a great long-term option for many folks.

•    When you purchase with a loan, you own the vehicle, so that means you can choose to customize it any way you like.

•    There is no "end of the lease" to speak of, which means you never simply return the vehicle to the dealership as with a lease, however, you can choose to sell your vehicle, which is not an option with a lease.

Here is a quick rundown of benefits and disadvantages that accompany both auto financing solutions. There is no clear "better option," because everyone is facing a different financial landscape, so different folks will be drawn to different financing solutions based on their needs.

Benefits & Disadvantages of Leasing

Advantages:

•    When you lease, your monthly payments reflect the cost of depreciation over duration-or, how much the vehicle will "devalue" while you're in possession of it. This is different from buying with a loan, because with an auto loan, you're paying for the entire cost of the vehicle. As such, your monthly payments tend to be lower than the monthly payments associated with purchasing.

•    Fresh, new vehicle every few years.

•    Adore your vehicle? You can opt to buy it at the end of your lease!

•    Since leasing usually only happens with new vehicles, there's a great chance your leased vehicle will remain under manufacturer warranty for the duration of your contract, so repairs and maintenance work could be totally or partially covered for you!

Disadvantages:

•    You must adhere to a prescribed maintenance schedule as laid out in your lease agreement. Failure to follow the maintenance schedule can result in fees at the end of your lease.

•    At the end of your lease, if you have driven over the allotted mileage agreed upon in your lease agreement, you can be charged penalty "overage fees."

•    The same principal applies to excess wear and tear.

Benefits & Disadvantages of Buying with a Loan

Advantages:

•    With a loan, your monthly payments tend to be higher than with a lease (unless you made a sizeable down payment upfront), but the good news is your payments do count toward equity in your vehicle.

•    Because you own the vehicle, you can customize it to your heart's content! If personal flair is important to you, this can be a huge advantage.

•    When you own your vehicle, you're able to sell it if you choose to do so-you certainly can't sell a leased vehicle!

Disadvantages:

•    As we mentioned above, while your monthly payments do build equity in your vehicle, monthly payments also tend to be larger than monthly lease payments.

•    Depreciation tends to hit hardest for new vehicles, right off the lot. The difference can sometimes be so great that you might need GAP insurance-insurance that covers the difference between the residual value of the vehicle after depreciation and what you own on the vehicle, if the residual value is lower than what you owe.