Many shoppers in the San Jose ask themselves, “Should I buy or lease a car?” While buying is the most common option, leasing has its own unique set of advantages as well. In this guide, Toyota 101 walks you through the pros and cons of leasing vs. buying. Find out which is the best option for you, and continue your research with our finance department in Redwood City!
Between leasing vs. buying, what are the perks of leasing? Let’s start with the basics. Leasing is a shorter-term investment for those who favor flexibility. Think of it as renting the vehicle over a period of several years. Though you don’t own the car officially, you only pay for the depreciation of the vehicle. That means you pay quite a bit less every month compared to financing, and you also get far more chances to upgrade your vehicle with no strings attached! Here are some of the benefits of leasing:
Many shoppers who ask “Should you buy or lease a car?” ultimately end up financing. So, why is financing such a popular choice? Financing involves a higher up-front cost, but it’s a good long-term investment. Each payment builds your equity, while also boosting your credit, and you’ll eventually own the vehicle completely. This means you’ll eventually have zero payments! Here are some of the benefits of financing:
So, should you buy or lease a car? Find out the answer with the finance department at Toyota 101. Our team can help you weigh out the pros and cons of leasing vs. buying, so contact us today with your questions. To continue your research, feel free to browse our other car-buying tips and feel confident when you purchase or lease your next vehicle at our Redwood City dealership.