After deciding it’s time for a new vehicle, the next question on your mind might be, “Should I buy or lease?” At University Toyota, we’re here to help make that decision a little easier. Keep reading to find out our advice when it comes to knowing if leasing a car is right for you!
You enjoy driving a new vehicle every couple of years
One of the biggest appeals behind leasing a car is the fact that you get to drive a new vehicle every few years. If you’re someone who likes to have the latest models, technology, or even safety features in your car, leasing would be a great option for you.
You don’t drive long distances
When you lease a car, there is usually a limit on the amount of miles you can put on it. While you can purchase additional miles, if you happen to go over there is a charge per mile. If you use your car for a lot of long-distance driving, road trips, or have a long commute, you might want to rethink leasing a vehicle as the mileage limit may not work out to your advantage.
Lower monthly payments are a top priority for you
When you lease a car, you’re only paying to use the car for a specific number of years, whatever that may be. Because of this, your monthly payments are much lower, because the total you pay is much lower than the cost of the entire vehicle. If this is something that’s enticing to you and you aren’t worried about not being able to sell or trade in your vehicle in the end, leasing is probably a good choice.
Your car needs might quickly change
There are a variety of factors that could lead to you needing a different type of vehicle. On top of that, it’s difficult to always predict these situations. When you lease a car and decide to end the lease early, you’re normally only responsible for termination charges. However, if you’ve purchased the car and you still owe money on your loan, you might end up having to pay more than the vehicle is worth.
To learn more about the pros and cons of leasing and buying, contact our friendly team at University Toyota today! We are ready to help you figure out if leasing is the best option for you. Come in and see us to get started, or fill out our online form!