Should You Finance or Lease Your New Toyota?

January 13th, 2017 by

In today’s automotive market, leasing is making a resurgence. What once was a go-to low-cost option all but disappeared for a decade. But now that it’s come back, is it a good idea to take advantage of leasing? It’s the age-old debate between finance or lease.

Which one is right for you? Finance or lease? What are the benefits of each? Here are a few tips to help you choose for yourself which vehicle ownership option to pursue.

Always Drive a New Vehicle

Does it appeal to you to always have the newest model with the latest technology? For some, the bells and whistles aren’t as important as driving a reliable vehicle. Others, though, want their car to be at the forefront of technology. If you always want to drive a vehicle that is only a few years old, leasing is a good option for you.

Minimal Maintenance or Repair

Do you like the security of having warranty coverage on your vehicle? Many people don’t consider the future cost of repairs when buying a car, and it can be a burden on your pocketbook. If you want a vehicle that is covered under warranty and has little maintenance cost, leasing may be the best choice.

Go Far, and Often

Are you someone who is always behind the wheel? Does your odometer rack up the miles faster than a long-haul driver? If that describes you, financing may be your best option. Leasing offers flexible mileage options, although if you exceed the criteria, you can be stuck with high over-mileage penalties.

It’s All Yours

Do you enjoy owning what you drive? If you prefer to own your vehicle outright, eventually without car payments, financing could be the way to go. While leasing offers the option to buy your vehicle lease out, financing can lock you into competitive rates and terms for the whole length of your purchase. In the end, you have a car you can call your own, free and clear.

Whether you choose to finance or lease your new Toyota, Jay Wolfe Toyota of West County is here to help. Our sales professionals will work with you to figure out your best option to get into a new Toyota. Call us or visit us in person today to find your new Toyota.

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