Should I Buy or Lease? | Gainesville, FL
Most are familiar with the advantages of purchasing your car, but what about leasing? What’s the difference between the two? And which option is best for you financially? At Gettel Toyota Gainesville, we understand that buying or leasing is a big decision, so we’ve researched and gathered the pros and cons of each to help. If you have any further questions, our finance experts are ready with answers. Keep reading to learn more about the advantages of buying or leasing your new vehicle.
Why Lease
a Vehicle?
Minimal Upfront Cost
When leasing a new vehicle, you’re agreeing to make monthly payments with the knowledge that you’ll return the vehicle to the dealership at the end of your agreed lease period. Leasing is essentially renting for an agreed period of time, so your financial responsibility and monthly payments may be reduced. And, especially with our new car specials, we have leasing options that require no down payment, or $0 down, to start your contract. Upfront costs to leasing can be little to none.
Lifestyle Flexibility
On average, leasing periods range from 24-60 months, enabling you to make affordable payments with shorter terms. Lessees are given around 12,000-15,000 miles per year, but you can purchase more miles at the signing if needed. When leasing, you can drive a new vehicle every few years without the hassle of trading or selling and still maintain the option to buy your Toyota at lease-end. Pretty sweet deal.
Warranty Protection
Since most lease periods last between two or three years, your new Toyota could still be covered under its ToyotaCare warranty the entire time you drive it. And, if you purchase our Lease Excess Wear & Tear Protection Plan, you could wave the cost on everyday dents and scratches. The burden of an owner’s financial responsibilities doesn’t apply to lessees.
Why Purchase
a Vehicle?
True Freedom
Ownership, on the other hand, is a huge benefit. Once you’ve paid off your vehicle, it’s yours to sell, trade, or keep for years to come. You are given the freedom to keep your new car as long as you want and, similar to deciding which color to paint a wall in your purchased house, you can choose to customize your car to match your lifestyle. Owning is a win-win investment that leasing can’t offer.
Financial Flexibility
While most finance terms require a down payment, buying may be more financially responsible long-term. For one, you have more financing options than leasing, and you can decide to purchase the vehicle in full with cash, or finance through us at Gettel Toyota Gainesville or another lender. Once you’ve finished your monthly payments for the vehicle, that money is secured when you keep your vehicle, like a good return on an investment. When leasing, that money is lost when you return the car to the dealer and you’ll have to start over again.
No Mileage Restrictions
When you’ve finished your payments when buying, you’re the boss. That means no mileage restrictions (and fees if you go over) or needed permission to leave the country with your vehicle like leasing would require. Ownership means autonomy from lenders, and the satisfaction of independence.
If you’re ready to be the proud owner or lessee of one of our new models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 2985 N Main St, Gainesville, FL 32609. We look forward to serving customers from Gainesville, FL, near Ocala and Jacksonville.