Should I Buy or Lease a Vehicle?

We’ve got a comprehensive selection of new Toyota models for you to choose from. Whether you’re after something efficient like the Toyota Corolla or prefer something family-friendly like the Toyota Highlander, we’re here to help you throughout your car-shopping journey. With that being said, after you’ve found the right model for your Austin lifestyle, you’re probably wondering, “Should I buy or lease a car?”, and the answer depends on your specific needs and financial situation.

When you compare leasing vs. financing, you’ll find that both provide many benefits, and you’ll likely enjoy whichever option you choose. With that being said, we’re going to help you a better answer “Should I buy or lease a car?” by taking a deeper look at the leasing vs. buying comparison. When you’re ready for the next steps, our finance experts at Toyota of Cedar Park are ready to assist!

Leasing vs. Buying – Benefits of Buying a Car

To help you make a decision when you’re wondering, “Should I buy or lease a car?”, we’re going to go over some of the advantages of purchasing a new vehicle for your Leander adventures. Here are some perks of financing a car:

• No Mileage Restrictions: If you put lots of miles on your Toyota as you drive around Georgetown, you probably should buy vs. lease because a lease comes with mileage restrictions, and if you go over them, you may incur some penalties or fees.
• Customization Options: Buying a vehicle means that when it’s paid off, you own it free and clear. Owning your vehicle allows you to customize it exactly to your liking. Want to paint it bright purple? No problem! There are no restrictions on how you customize or modify your vehicle when it’s yours.
• Ability to Refinance: Oftentimes, your financial situation has changed, and you may need to refinance your automotive loan. When you purchase your new Toyota, you get the option to refinance and possibly even take advantage of lower interest rates.
• Ability to Sell: When you finance an automobile, you’ve got the flexibility to sell your vehicle as you please. There’s no need to wait until the end of a contract, and you can simply sell your vehicle when you think it’s time.

Leasing vs. Buying – Benefits of a Leasing a Car

It’s clear that financing a vehicle has its perks, but does leasing provide the same level of advantages? Find out for yourself below:

• Less Down Payment: You may be able to get into a lease with no down payment or very little down. This opens up the opportunity for many more shoppers like you if you’ve got a tighter budget. We recommend speaking with our finance team for more information about leasing down payments.
• High Approval Rate: Leasing a car is generally easier if you’ve got credit that needs some work. Even if you have no credit, leasing providers are typically more lenient when it comes to credit requirements.
• Lower Payments: When you lease a Toyota, your monthly payment will likely be less than if you buy a car.
• Trade-Ins: When your lease term expires, the process of getting into your next leased Toyota is straightforward. Just bring your leased vehicle back to Toyota of Cedar Park, pay any required fees, and drive away in your next new Toyota!
• Superb Warranty Coverage: Warranty coverage and routine maintenance are easy when you lease vs. buy. As long as you’re careful not to exceed the mileage limit, it’s usually covered and won’t cost you much, if anything.

Lease Your Next Vehicle From Toyota of Cedar Park Today!

Whether you decide to lease vs. buy, Toyota of Cedar Park is happy to help you choose your next Toyota. You have high standards for your vehicle and where you get it, and we’re more than happy to meet and even exceed those standards and expectations. Talk with our team to discuss your financing, leasing, or lease buyout options today! If you’re ready to get started, you can simply reach out to our team online.