Once you find a Toyota model that you want to drive, you have one more important decision to make. Do you sign a lease or do you take out a loan from the Toyota financial department here at Heritage Toyota Harrisburg? There are advantages and disadvantages to both options, so let us help you decide which will work out better for you.
Pros and Cons of Leasing
Leasing is a great idea if you're the type of driver who likes to upgrade to a new car every few years. At the end of your lease, turn in your vehicle and lease a brand new one. Get the upgraded tech and experience anything new a brand has to offer without worrying about depreciation or selling off a car.
Leasing can also be less expensive. Monthly lease payments tend to be smaller than loan payments on a similar vehicle would be. So, leasing can be a good way to get more car for your money.
Leases do have some drawbacks, however. Since you do not own your car, you usually cannot customize it with accessories or performance parts.
You also have a mileage limit to contend with. Go over your yearly limit and you'll end up paying extra fees.
Pros and Cons of Buying
Buying is a good option if you tend to keep your cars for a long time. Once your loan is paid off, your cost of ownership drops significantly. You can also drive as much as you want and install performance parts and accessories to customize your ride.
Just remember that you do need to pay for all your car maintenance costs yourself if you buy. Also, cars do decline in value quickly, so expect to take a loss if you end up selling your vehicle earlier than anticipated.
If you're in the market for a new Toyota vehicle, visit our car dealership near Lebanon, PA. Whether you decide to buy or lease, our knowledgeable dealers and financing staff are ready to help you out.
