You’ve thought long and hard about which Toyota model you want to take home and now it’s time to consider your financing options. The decision is one that should be made to best fit your personal driving needs and there are positive and negative aspects to both so it is wise to weigh both options before making a final decision. We broke down what it means to buy or lease a vehicle and some pros and cons of each option to help make that decision a little easier.
Leasing gets you the vehicle you want and with a monthly payment that is much more affordable than buying. Leasing programs give you the freedom to drive a new car or truck every few years without the hassle of selling or trading in your vehicle. Pros to leasing a vehicle include lower monthly payments, low down payments, if any at all, no vehicle depreciation concerns. Leasing also gives you the option to purchase the vehicle at the end of the least term. The downside to leasing is that you don’t own the vehicle and have to return it at the end of the lease. Some cons to leasing also include higher insurance premiums, mileage restrictions, early termination charges if you want to end the least early and the inability to customize or modify the vehicle.
Purchasing a vehicle simply means no mileage limits, no end date for when you have to return your vehicle and no worrying about end of lease obligation. A positive element of buying a vehicle instead of leasing is that you own the vehicle and can keep it as long as you want. Other pros include no monthly payments after the vehicle is paid off, no mileage limits, the ability to modify or customize your vehicle, lower insurance costs and you can sell or trade in your vehicle at any time. There is a downside to purchasing a vehicle in that the monthly payments are higher compared to leading a vehicle. Buying also usually requires a large down payment and depreciation can diminish your vehicles resale value.
Shop online at Toyota of Plano or come in today for a great deal on a new Toyota!
Call 888-255-3154, and speak to our friendly staff today! Learn about our latest Toyota Specials, set up an informative test drive, get details on any vehicle, request a brochure, schedule a service appointment, discuss your trade-in or even talk financing on your next car. We are here to help you.
Toyota of Plano is your local Toyota dealer located in Plano, TX. Your satisfaction is our goal!
Still deciding on which Toyota you’d like to be driving? Searching for OEM factory rebates? Are you comparing lease programs or internet specials? Maybe you simply want our best price on a new or used car? For all of this and more, look no further than Toyota of Plano. Our team is made up of professional associates that offer you a no-pressure environment and operate with the quality you’d expect. We look forward to helping you with your next new or used car purchase.