First and foremost, let’s do away with the notion that buying is better than leasing or vice versa. There are pros and cons to both, but fundamentally they are two equal paths to the same thing: you behind the wheel of a fine Toyota vehicle. The difference, fundamentally, is that a lease is essentially long term temporary ownership, allowing you to drive away at a lower price point and with an agreed upon end date, while buying outright means the car is yours from the tires to the sunroof until the heat death of the universe.
The largest reason to lease is typically the reduced cost, and that is down to a few things. Firstly, you need to commit less to sign onto a lease, all that is typically required for a lease is a security deposit and the first month’s payment in advance. There is typically no need for large down payments or lines of credit to get behind the wheel. Secondly, the monthly payments are calculated as a difference between the vehicle’s original value and its anticipated value at the end of the lease, which, unsurprisingly, means that your payments are going to be substantially less than if you are attempting to buy it via a loan. It also allows for a more customizable monthly payment plan to be implemented, including additional down payments, or an increased security deposit to lower the interest rate.
The second-largest lure of leasing is that it means that after two to five years you will be able to trade your fine Toyota vehicle in for a newer model. This means that you’ll always be right on the cutting edge of automotive technology without breaking the bank to buy your way in. This also means that if there was something about the 2014 Corollas that you really disliked, and have grinned and bore it for the duration of your lease, it is probably fixed in your new 2019 model. Contrasted with an outright purchase where you are stuck with all the maintenance troubles that come with an older car, and the allure of leasing becomes clear.
There are many reasons to consider leasing your next vehicle. Lower payments and the cycling vehicles are really just the beginning. This didn’t even take into consideration the Toyota Lease Advantage which can earn you a lower payment amount because a Toyota has a higher resale value. If you are at all interested in leasing a car with us, we highly encourage you give us a call and set up an appointment. What we have shared here is far from comprehensive, and our team knows how to get you the very best lease possible.
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