Buying v. Leasing A Toyota

 

Versatile Payment Options

There are ample choices for your next Toyota because of our magnificent lineup, but we also want you to know there are different purchasing options. Buying or leasing a Toyota car, truck, crossover, or SUV offers unique advantages at Western Slope Toyota, and we want to present how they can benefit your experience. Our finance professionals assembled this list of pros and cons so you can make your selection based on all these facts. We want to show something suitable for everyone when buying or leasing a Toyota. Take a look at the list, and stop by the showroom to pick out your next Toyota.

Pros of Buying
• Travel all around because financing does not come with mileage restrictions.
• Are there accessories you want to add? Do it after buying because the car is yours to customize.
• A significant difference between buying or leasing a Toyota car is once you complete the finance payment term, you do not owe any more money because it is paid off.
• Trade in your car to us and earn value toward the next purchase.
Cons of Buying
• A more substantial down payment is needed for financing and to secure a better interest rate.
• Sales tax is added to your purchase.
• When the factory warranty ends, it is up to you to pay service costs.

Pros of Leasing
• Starting costs are significantly lower when leasing a Toyota car because a sizable down payment is not required.
• Toyota lease rates are usually lower than financing rates because interest is not added to the payment.
• Choosing a lease provides flexibility because the term is often shorter, allowing you to upgrade to a newer Toyota when it is released from the factory.
• The factory warranty covers the Toyota, leading to fewer maintenance costs during the lease.
• Returning the vehicle once the lease has ended is a hassle-free experience.
Cons of Leasing
• Mileage restrictions can prevent regular long-distance travel.
• A monthly payment continues throughout the lease.
• The car must be returned in exceptional condition.
• GAP insurance is needed to account for the value of the vehicle.