Buying vs. Leasing A New Toyota in Chantilly
Buying vs. Leasing: Make the Right Choice at Our Chantilly Toyota Dealership
As you explore the latest new Toyota options we have at the dealership, you're encouraged to learn more about your options, particularly as it pertains to buying or leasing. Our finance center is here to help you figure out the path that's best for you, as we go over the pros and cons of buying and leasing so you can make a smart and informed choice.
Is Buying and Financing a New Toyota Right For You?
Choosing to buy your vehicle via financing using an auto loan is one path you can choose to take when looking at our new Toyota lineup. We're here to discuss these options and provide you with benefits of buying, and potential drawbacks so you can make the right choice based on your specific preferences.
Pros of Buying and Financing
- When you pay off the auto loan amount through a series of monthly payments, the car's title becomes entirely yours, and you no longer have a car payment
- You have the freedom to modify the car according to your preferences, meaning you can add custom parts or accessories onboard your Toyota vehicle
- There are no mileage limits when you purchase a vehicle, meaning you can drive 2,000 or 20,000 miles per year and find there are no extra charges based on mileage
- For every payment you make on time, you're also building equity in the vehicle, and with the right care and maintenance with a brand like Toyota, you'll find there's standout long-term value
Cons of Buying and Financing
- If you don't have a good down payment combined with a trade-in vehicle if you have one, you might find that monthly payments will run higher when compared to similar length leasing offers
- While you will get maintenance coverage and new vehicle and powertrain warranties, after those terms are completed, particularly the new vehicle warranty, you're responsible for repair costs that would fall under the warranties
- When you do buy, you are buying an asset that will depreciate, so it's important to know that when you do, your car's value is not less than the outstanding loan amount, so you should be entirely sure this vehicle is a long-term solution for you
Is Leasing a New Toyota Right For You?
If you're aiming to lease a new Toyota, you'll find it has benefits too. We are here to guide you through how that works, plus highlight all angles so you can ensure leasing is the right path for you based on finances and lifestyle.
Pros of Leasing
- When you lease, you have the flexibility always to drive the latest vehicles as most terms run around two to three years, and when the terms are completed, you can enter a new leased vehicle, or you can purchase your leased vehicle at its remaining value if you like it and would like to drive it longer
- Thanks to being under new vehicle warranties for the duration of your lease, many typical repair costs can be covered so you keep maintenance costs low
- You can lease a new Toyota vehicle with a low down payment, as it's a flexible way to get behind the wheel of a new vehicle without having to put down a large sum of money
- A lease allows you to drive many quality vehicles in our lineup be it the Corolla, or the Highlander, and we can work to make the payment plan something that is sensible to you, as you can be less boxed in by costs when you lease
Cons of Leasing
- When you lease, you have to adhere to wear and use guidelines, which means you're generally restricted from making any modifications of customizing the vehicle to meet your style and driving needs uniquely
- You also have to follow mileage guidelines, so if you're someone who thinks you might drive over the threshold (usually around 10,000 to 12,000 miles per year depending on the lease terms), you might want to consider buying a vehicle so as not to accrue any additional overage fees
- Leasing does mean that you'll always be making a monthly payment, so it's important to know that you're always going to need to account for that in your finances
Learn More About Buying or Leasing at Our Dealership Today
The team here at Ourisman Chantilly Toyota would be happy to go over all the options with you and discuss the benefits of buying and leasing with you at our dealership serving Vienna and Springfield along with the Washington, DC area. Contact us to begin soon.
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Ourisman Chantilly Toyota
4135 Auto Park Circle
Chantilly, VA 20151
- Sales: (703)-378-2121
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