Is It Better to Buy or Lease a Toyota in Chicago, IL?

November 14th, 2019 by

Sedan or SUV? Front-wheel drive or all-wheel drive? Six speakers or 10? When it comes to choosing a new Toyota, there are a hundred decisions to make. After all, it takes time to find exactly the right vehicle for your needs. Plus, once all of those choices are made and you’ve picked a car, there’s one last thing to think about: buying versus leasing.

Why Buy a Car?

The easy answer to this one is because the car is yours. Even if you plan to finance the purchase and make payments, you still own your vehicle. This means that you can do with it what you like, including putting in a new stereo, for example, or perhaps painting it a different color. Plus, you can sell it whenever you like or use it as a trade-in. Another big advantage of buying is that you can drive as much as you want. With leasing, there are mileage restrictions.

Why Lease a Car?

Let’s say you are interested in the new 2020 Toyota Camry. While the sticker price may make you balk, when you lease it, you won’t actually be paying for its full value. You will only need to pay for its value during the length of the lease. This means that your down payment and monthly payments won’t be as high. Plus, leasing gives you the opportunity to test out different vehicles. After your lease is up on your Toyota Camry, maybe you’ll want to try the 2020 Toyota Corolla. You can keep testing out different cars until you find one you want to buy or just so you can get a newer car every few years.

If you’re having trouble deciding whether to buy or lease a car, we can help. Visit Midtown Toyota to talk to one of our dealers today.

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