Are You Faced With the Decision of Whether to Lease or Buy a New Car? Our Chicago Area Toyota Dealer Explains the Benefits of Both

Apr 23, 2015

Since most people cannot afford to just buy a new car with cash, they are faced with the decision of whether to lease one or take out a car loan. There are advantages and disadvantages of both. Are you faced with the decision of whether to lease or buy a new car? Our Chicago area Toyota dealer explains the benefits of both.

Leasing a Car

With leasing, you are usually able to get more for less money due to the fact that the lease price is based on only a percentage of the price of the car, whereas when you buy a car it is based on the full price. If you have less money to spend, leasing may be better for you. You can also leave a much lower down payment. You will have peace of mind knowing that most repairs will be covered under warranty. Leasing will make affording the more luxurious and high-tech features easier. You never have to worry about selling the car since all you need to do is simply turn it in when you’re done.

Buying a Car

The best part of buying a car is probably the fact that the car is all yours. Once the loan is up the car belongs to you. You’re free to do whatever you please to it with no consequences. This will save you money in the long run. You have no mileage restrictions. This is especially nice if you drive a lot.