Leasing or Buying…What’s the Best Move for You?

When it comes to getting a new Toyota vehicle, there is no standard answer to the question, “Should I lease or buy a car?” That’s because the answer to that question depends on a variety of factors that are unique to you.

Even if you have the same amount of money in the bank, the same lifestyle, and the same taste in cars as someone else, you may answer the question posed above differently than the other individual.  If you’re thinking about getting a 2017 Toyota Camry or another one of the new cars we have in our inventory, deciding whether you should lease or buy really comes down to what is most important to you.

One of the biggest differences between leasing and buying an automobile is the nature of the transactions involved. When you lease an automobile, you are basically renting the vehicle for a predetermined period of time. When that time period expires, you won’t own the car you’ve been driving. Of course, you’ll normally have the option to buy the car you leased at the end of your lease, but that would involve a second, separate transaction and none of the money you paid during your lease would be applied to your purchase. Because your car is the property of another entity during the course of your lease, you are responsible for its well-being and you’ll have to provide monetary compensation if you fail to care for the automobile the way your lease agreement prescribes.

When you purchase a vehicle, you will be its sole owner once you pay off your auto loan. Because your car is your personal property, you have full discretion over how you use it. You’re also not accountable to anyone for how you care for your automobile as long as it remains safe to drive. You don’t have to worry about paying penalties no matter how many miles you put on your vehicle’s odometer or how much wear and tear your car experiences.

If you’re struggling to decide whether you should buy or lease a new Toyota automobile, the experts in our Toyota financial department can help you make the right choice. Contact our Toyota financial experts to get the help you need to make the decision that’s right for you today.