Earlier this month we wrote an article about the benefits of leasing a Toyota. Like we promised in that article, we have now come to you with some of the benefits of buying. Read below for 3 advantages of buying a Toyota to see if buying or leasing is your best bet.
3 Advantages of Buying a Toyota
There is no right or wrong answer to leasing vs buying. It depends on your budget and lifestyle. In general, if you plan on driving a ton or you want to keep your vehicle for a number of years, buying is most likely your best bet. Read our list of advantages below for more information.
When you pay a monthly car lease your bill is paying for you to use that car for that month. When you pay a monthly car loan you are paying off the full value of the car. When the loan ends you own the car outright and can make money off a sale. If your payments are more than the vehicle depreciation you could also gain equity and make money from a sale before the loan is over.
No Mileage Restriction
Loan options come with mileage restrictions, and vehicle ownership does not. If you have a long commute or frequently take long road trips buying may be to your advantage. If you go over the miles allotted on a lease you will have to pay a small amount for each mile over you go. Owning a car can be much more flexible.
No Car Payment Potential
One of the best things about a car loan is that when you are done paying it you have the potential to be driving your car with no monthly payment necessary. Use that extra money to increase yoru savings or fund some vacations!
Once you decide which route is best for you, come choose your new vehicle at Fox Toyota! We have a wide variety of lease options and new Toyota vehicles available.