Buying Vs. Leasing…What’s Right for Me?

So, you finally found the ultimate car for your drives—now comes the ultimate question: how should you finance your new cruiser? Thankfully, the answer doesn’t need to feel too complicated as we now have a lease vs buy car calculator to help you determine your monthly fees and down payments. Plus, stick with us today, and we’ll even go over the deeper and more intricate pieces of each financing method to help you decide how to drive your vehicle home without thinning your wallet to uncomfortable levels. For more guidance, visit the Toyota of Rock Hill finance center near Lancaster, SC, where one of our finance experts can guide you through the process based on your personal situation.

Short-Term and Low Commitment: Why Lease?

Are you looking to take command of your favorite car at the lowest possible price? Then leasing a vehicle is the perfect place to start since you’re almost always going to pay a lower down payment and monthly payment when compared to obtaining a loan for the same ride. Plus, lease terms tend to be super-short (rarely exceeding three years), so you’re in for a low commitment plan—in fact, after your term ends, you can lease a brand new vehicle from the model year, even if it’s completely different from what you just drove, meaning you’re welcome to jump from a family-friendly Sienna to a track-driven Supra to satiate your sporty side (or do the reverse if you’re expanding your family). Either way, a lease is the ultimate plan for constantly driving the latest powertrains and technologies in the automotive world.

When you lease, you’ll always want to look out for mileage limits before you make any major agreements—however, if you can keep your travels around 12,000 miles a year, you’re usually in the guidelines for a lease. Also, keep in mind you’ll need to eventually return your lease, so don’t plan on any permanent changes like a paint job or ECU remap, as you’ll be charged for wear, tear, restorations, and any damage that ensues from reverting your ride back to normal.

Owning Up for the Long-Term: Why Consider Buying?

Do you plan to keep your vehicle for many years to come? Consider a loan, where you pay off your car to ultimately gain full ownership—all with unlimited miles. Also, since the cruiser is technically yours out of the gate, you’re free to make any permanent changes you want, like tuning out the motor on your Toyota 86 to convert your ride to a track champion or adding running boards to your Highlander for easy entry.

While buying a car gives you full ownership, you’ll typically pay more for your vehicle in a short-term sense since you’ll usually pay a higher down payment and monthly fees when compared to leasing the same ride. Also, you can’t simply return your vehicle after three years like you would with a lease, so you’ll want to ensure you purchase a car, truck, or SUV that you genuinely enjoy driving.

Find Out How to Finance Your Car in Rock Hill

Are you wondering: should I buy or lease a car in 2021? Not to worry, as we at the Toyota of Rock Hill finance center near York, SC, are happy to work with your individual needs and situation to help you find the optimal answer for you. Also, whether you buy or lease, we’re always the best deal for you, as we can work with your budget, and we even have special lease deals and purchase options to help you score the ultimate savings.