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Should I Buy or Lease?

Woman reading a car purchase contract in car dealership

When it’s time to start looking for a new vehicle to enhance your Thomasville commutes, you may be wondering and researching what the best financial plan is for you. It’s essential to think about what works best for you in terms of lease vs. buying. There are many benefits to buying and leasing, but you need to consider what your needs are, what you can afford, and what you want. Valdosta Toyota is taking a look at the benefits of lease vs. buying, so you can make an informed decision when you visit us and ask, “should I buy or lease?”

Benefits of Buying

  • No Mileage Restrictions: If you do a lot of driving inside and outside of the Tallahassee and Albany areas, buying may be the better option. Without the mileage limits you get on a leased vehicle, you can drive as much as you want.
  • Total Ownership: You own the vehicle so you can do what you please. There are no restrictions on how it’s modified, decorated, etc.
  • Customization: Buying also lets you make cosmetic and mechanical changes at any time, which means you can create the Toyota vehicle of your dreams.
  • Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your vehicle whenever you choose.
  • Financing Options: While leasing isn’t a massive headache, the car financing process is more straightforward and more forgiving to car buyers who don’t have perfect, or great credit scores. When buying, you can also refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: Though buying a new car is more expensive in the initial period, it is less troublesome in terms of cost over time as you work toward paying off your loan. With total ownership, the vehicle becomes less expensive to own the longer you have it.

Benefits of Leasing

  • Lower Payments: When you lease a vehicle, the monthly payments and down payment costs will be much lower than buying.
  • Less Sales Tax: In most states, leasing a vehicle drastically lowers sales tax. In some areas, you only have to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: When your lease agreement ends, getting your next leased vehicle is easy. Visit Valdosta Toyota, pay any remaining fees, and drive away in your next vehicle of choice.
  • Great Coverage: Warranty coverage and maintenance is a stress-free when leasing! Any issues that pop up under your warranty, as long as you don’t go over the mileage limit, are covered.
  • Options: Leasing allows you to stay in the newest models with the most up-to-date tech every time you lease a new vehicle. You’ll have a plethora of options so you can find the perfect model and features best suited for you.
  • High Approval Rate: While you may be denied for a car loan, getting approved for a lease is easier, even those with poor or no credit can be approved.

To experience these benefits and more, check out your Toyota lease-end options at Valdosta Toyota.

Explore Your Leasing and Financing Options at Valdosta Toyota

Whatever you choose when it comes to a lease vs. buying, the decision is based on your personal needs and financial situation. Explore all of our Toyota leasing and financing deals, and make the short drive to our dealership near Tallahassee to find your next vehicle. If you have any questions, feel free to contact us today and see if you prequalify for credit!

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