Should I Buy or Lease a New Toyota?

Finance Paperwork with Glasses

If you’re in the market for a new Toyota for your Ventura commute or for your next family vacation, you may be wondering if you should buy or lease your next vehicle. The answer to whether you should lease or buy will ultimately depend on what your needs are and what you can afford. However, it’s also important to consider what you want out of your vehicle. If you’re weighing the benefits of a lease vs. buying and the lease return process, Ventura Toyota has gathered the benefits to leasing and buying for you below. If you have a question about the specifics of either option, contact us and we’ll be happy to help you!

Advantages of Buying a Toyota

When you buy – also known as “financing” – a vehicle from Ventura Toyota, you make monthly payments to the lender until the vehicle is paid off. You then own the vehicle and can do what you’d like with it. Read the benefits of financing a Toyota below.

  • No Mileage Restrictions: If you have a long commute or if you frequently use your car to drive around Oxnard or across state lines, buying may be the better option for you. With no mileage limits, you can drive without worries about fees or penalties.
  • Total Ownership: When you finance a vehicle, you will own the vehicle in full after you make your last payment. This means you can do what you please with your vehicle, including painting it, modifying it, or decorating it.
  • Customization: Make your car stand out in the crowd by making cosmetic changes to your vehicle as you see fit without restriction.
  • Ability to Sell: Opt to sell your vehicle to a friend, family member, or to a third party whenever you please.
  • Financing Options: The car financing process is generally more straightforward than the leasing process. Financing is open to those without perfect or even good credit scores, plus you can refinance your vehicle at a lower rate as your credit improves.
  • Less Cost Over Time: Buying a vehicle is more expensive than leasing up front, but over time you’ll be paying less as you pay off your loan and keep to your vehicle’s maintenance schedule.

Advantages of Leasing a Toyota

When you lease a Toyota, you’re essentially “renting” it from the dealership for the period of your loan term. A lease is a great option if you like to upgrade your Santa Barbara ride frequently, or if you don’t want the hassles that come with car ownership.

  • Lower Payments: Depending on the vehicle you lease, your monthly payments or down payments will be lower than when you finance a car.
  • Less Sales Tax: When you lease a vehicle, you’ll pay a lower sales tax on your down payments and monthly payments in most states.
  • Trade-Ins: Trading in your vehicle for a new one when your lease agreement is over is a simple and easy process. All you need to do is pay off your remaining fees and drive away in your new vehicle of choice.
  • Great Coverage: Leased vehicles come with excellent warranty coverage. As long as you remain within your lease limits, your vehicle will be protected by the dealership or a manufacturer’s warranty.
  • Options: When you lease a vehicle, you can easily get the latest models with the most up to date technology every couple of years.

Finance or Lease Your Next Toyota at Ventura Toyota

Whether you choose to buy or lease your next vehicle, you can count on the expertise of the Ventura Toyota finance team to help you find the perfect vehicle for your Camarillo commute. Learn more about leasing vs. buying with Ventura Toyota, and find the value of your trade-in vehicle so you can lower the cost of your down payment. You can also browse our new vehicle specials and lease specials to see if your favorite Toyota is available at a discount.

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