Buy vs Lease
Things to Consider…
Buying is a big decision. It’s the best choice to make if…
- You want to own your car. If you lease, you don’t hold ownership over your car.
- You want to modify your car. Leasing means that if you do modify your car in any way, you’d need to change it back before you returned it,
- You drive a lot. Leases have mileage limits on them, so you would be constrained typically to 10,000 miles a year or you’d be charged every time you go over.
- You don’t want a “contract”. If you own your car, you can sell it whenever you want.
Leasing might be the rest choice for you if…
- You want lower monthly payments. Lease payments tend to always be lower than loan payments.
- You don’t have a large down payment. There are lots of lease deals that require no money down initially.
- You love new cars. With a lease, you’ll be able to get new car every time your lease is over, for less than you’d pay to buy a new car.
- You want to avoid repair costs. A leased car will likely be under factory warranty for the entire lease period, so you won’t have to pay much out of pocket.
Still have questions? Just come down to Midlands Toyota and ask us about buying or leasing.
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