Four Reasons to Lease Your Next Toyota

If you’re a savvy buyer, then you’ve already done the research and know what a great value you get when choosing a Toyota. After that, it’s up to you to decide whether to lease or buy the vehicle. While both have their advantages, shoppers have become more inclined to lease a vehicle, with up to 25 percent of new cars leased. If you haven’t weighed the benefits of a lease, here’s a few reasons to consider it for your next Toyota vehicle.

You Don’t Lose Out on Depreciation

One of the biggest problems with purchasing a car is the hefty part of the sticker price that you lose as soon as you drive the vehicle off the lot, which averages out to about 11 percent. With a lease, you don’t have to worry about losing that value. Instead, the monthly payment on your Toyota is equal to the approximate monthly value of the depreciation. At the end of the day, you won’t have a massive gap between the value of the car and how much you owe on the loan.

Forget About Maintenance Costs

When you lease a car, you get to avoid almost all the costly maintenance bills you’d normally have if you bought the car. Under Toyota’s new vehicle warranty, you get 36,000 miles of basic coverage and a 60,000-mile powertrain warranty. In most cases, this covers any huge mechanical problems you may incur while you’re leasing the car. The only thing you pay for is fuel and oil changes. That trade-off isn’t a bad deal at all.

Get More Car or Save Money

A dilemma you may find when you lease a car is choosing lower payments or a more opulent vehicle. In leases, your monthly payment and down payment are typically less than you’d pay if you buy the vehicle. So, if you had your eye on a Toyota Camry, you’ll love lower overall payments. On the other hand, you can take the savings and put it into leasing a fancier vehicle such as the Avalon. Either way, you’re coming out on top. As with buying a car, don’t forget to haggle with the dealer on the down payment and monthly bill. Sometimes you surprise yourself with the results.

Lifestyle Choices

Once you buy a car, you’re locked in for the foreseeable future, with the most loans running from 60 to 84 months. That means that even if a new, gadget-filled version of your vehicle comes out, you’re stuck in the old one. Some people don’t really care about that, but if you want the latest features in your car, leasing is definitely to your advantage. You don’t have to worry about selling your car when you want a new one. You just take it back to the dealer and get yourself the latest edition.

Before you go out and plop down the cash on a lease, remember that both buying and leasing have their advantages. It’s up to you to figure out which one works best for your situation. From there, it’s just a matter of taste.

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