Buying vs. Leasing at Ferris Toyota
Buying or leasing a vehicle: they are both great options. It’s all about seeing what works for your preferences and your unique life situation. Below we’ve listed the pros and cons of the buying and leasing situations, but no matter which route you choose, the team at Ferris Toyota will be happy to help you along the way!
There are financial benefits to both leasing and buying. With leasing, you can typically enjoy smaller payments. You are also not financially responsible for selling the vehicle. Once you have met the lease agreement terms, you can swap your car for a new one or walk away free and clear. You may also have the choice of buying your lease outright. On the other hand, buying a vehicle means you are more financially free. You can sell it whenever you want. If you are someone who enjoys having a new car every few years, leasing is a great option for you. If you are someone who enjoys watching your vehicle payments fall to $0, then buying a new car could be the right option for you.
Many people enjoy leasing vehicles because it can be a hassle-free experience. Vehicles do not typically require much maintenance for the first few years. Major repairs are rare within that time as well. Leasing a vehicle means you rarely have to worry about these things. Many leases also come with maintenance plans. If it’s time for an oil change or tune-up, your fees could be covered! Also, a leased vehicle typically comes with major repair coverage. That means that in the rare case your vehicle requires a repair, you will be covered financially.
Leases come with restrictions, however. There will be a mileage restriction plus wear and tear restrictions. When you turn in your lease at the end of its term, you may have to pay. Leases account for normal wear and tear on your vehicle, but if there is more serious damage, the turn in process could be costly. Buy a vehicle and you can put as many miles as you’d like. You also don’t have to worry about financial penalties in case your interior sustains some sort of damage.
Which option sounds better for you?
No matter which way you go, we promise to provide you with a great customer experience here at Ferris Toyota! Visit us at 634 Wabash Avenue, New Philadelphia, OH 44663. Shop our great selection of new Toyota vehicles and then sit down with one of our customer representatives to go over your options.