Leasing or Financing Your Toyota: Which One Is Better?

March 31st, 2017 by

In today’s world of buying a car, there are more options than you can imagine. As always, Toyota vehicles are an each option to settle on. There’s the exceptional value in a Toyota RAV4 and economical transportation in the fun-to-drive Corolla. The Avalon is a classy sedan to pick while the 4Runner is great for an offroad enthusiast. What about when it comes time to sign the dotted line? Is it better to choose leasing or financing?

Leasing or Financing: Which Works for YOU?

You’ll find benefits to each method of owning a Toyota. And whether you settle on leasing or financing, you can always be sure your vehicle was the right decision.

Benefits of Leasing

  • In some cases, businesses can use leases as the most cost-effective method to add vehicles to their fleet. Depending on the business’s tax situation, leased vehicles may be easier to write off.
  • Leasing is great for someone who likes to drive a new vehicle all the time. With flexible leasing terms, the frequency you change vehicles is always in your hands.
  • Because leases are usually just a few years in length, you’ll typically have warranty coverage for most or all of your lease.
  • Usually, you’ve handed your lease back in before major maintenance or repairs are due.
  • If you decide you don’t want to give up your lease when it matures, you can buy it out and keep it!

Benefits of Financing

  • Financing can keep your payments lower. You can stretch your monthly payments over a longer term than a lease, opening up your options.
  • Financing is a great option if you want to own your vehicle outright. When your payments are complete, your Toyota is yours.
  • You have equity in your vehicle. As you make payments, you build equity. If you decide to switch vehicles, you may have money you can carry over to another purchase.
  • By the time major maintenance or any repairs are due, your car is likely paid off. You can save the money you would be spending on payments for those repairs and still have some money left over.

 

Whether you choose leasing or financing, you’ve made the best first choice with a Toyota. Jay Wolfe Toyota is the best place in Kansas City for purchasing and servicing your Toyota with the friendliest, most knowledgeable staff you’ll find. Visit us today for your next Toyota lease or finance.

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