Before purchasing a new vehicle, it’s important to carefully consider your various options. Besides choosing the make and model of your car, you’ll need to decide whether leasing or buying is the right choice for you. Toyota of Fort Worth is here to help. That's why we put together the following details that will hopefully help you make your decision.
When leasing a vehicle, choice is the primary perk. Customers can choose to drive a new vehicle every few years without making a buying decision or dealing with the hassle of selling or trading.
Standard leasing terms fall between 24 and 60 months. The shorter your leasing term, the more affordable your payments. In addition, you get to choose your own mileage. Typically, 12,000 or 15,00 miles per year is allowed; however, you can choose to purchase higher mileage at signing.
Because leasing a vehicle is temporary, your monthly payments and financial responsibility may be decreased. Leasing may be a better option for you if you’re unprepared for a large payment as some leasing options have zero down payment.
Standard leases last two to three years, so your vehicle typically comes with a warranty that protects you during the entire lease.
All you have to do when your lease ends is return the vehicle and pay any fees (excess mileage, wear and tear, etc.) and taxes. You also have the option of purchasing the vehicle after the lease for a predetermined price. Unless it benefits you, you won’t have to worry about selling or trading your vehicle.
The main advantage of purchasing your vehicle is ownership. Buying is the best option for you if you plan on keeping your vehicle long-term. In addition, when you buy rather than lease, you have the option to customize your vehicle to fit your needs and preferences.
You won’t have to worry about exceeding mileage limits when you purchase your own vehicle. When you lease, you are forced to estimate how many miles you may drive in a given year. When you purchase, you get to decide how much and how far you want to drive without paying extra.
You have a choice when it comes to purchasing a new car: you can either purchase with cash or finance. When purchasing with cash, the vehicle becomes yours immediately with no monthly payments. When financing, you have an extended amount of time with a loan to pay off your vehicle. For best results in financing, familiarize yourself with your options and choose the optimal rates possible, such as those offered by Toyota of Fort Worth.
After you have paid off your car (usually within four to six years), the vehicle is now yours. You can either continue to drive it for as long as you want, or eventually sell or trade it in. No more monthly payments means that you now have extra funds that could be put towards savings.
For more information, give us a call at (855) 934-7369. To learn more about our dealership and the services we offer, come visit us at 9001 Camp Bowie West, Fort Worth, TX 76116. We look forward to serving our customers near Arlington, Burleson, Weatherford and Keller.