Toyota Lease vs Financing

Searching for your next vehicle is a major decision, and you want to be sure you’re getting into the right contract for your situation. There are two primary ways to buy a vehicle at our dealership: a Toyota lease or a financing contract. Dalton Toyota National City runs down the pros and cons of each route so you can make an informed decision on your next purchase. 

Benefits of Leasing 

When you lease a vehicle, you’re technically not purchasing it; rather, you’re renting it long-term. This comes with a few extra technicalities and rules that you won’t get with a financed vehicle. The biggest benefit of leasing a vehicle is the lower monthly cost. If you’re a new driver or looking to get a new vehicle while on a budget, leasing is likely the best option for you.  

However, since you don’t own your vehicle while you lease it, you won’t be able to make any permanent modifications. Leases also usually have a clause that only allows you to drive a certain number of miles each year. However, this is negotiable at our Toyota finance center. 

Benefits of Financing 

Financing a vehicle generally comes at a higher cost than leasing, but you will own the vehicle entirely once the contract ends, which means you are building equity. Financing contracts vary in length, but most experts recommend picking between four and five years. Making a large down payment can also help reduce monthly payments. 

If you want to drive a vehicle with zero limitations, a loan or purchase is the only way to do so. When you loan, you won’t have to follow the same rules that come with a lease. It’s important to note that loan terms are longer than leasing terms, so you should be sure you love the vehicle before you buy. 

Explore Toyota Lease and Finance Options in National City, CA 

If you’re interested in starting a lease or loan for a new vehicle, contact our National City, CA, Toyota dealership. We have a wide range of Toyota lease specials that may help you save additional money with your purchase. Give us a call or visit us to learn more!