Should You Finance or Lease Your Next Toyota in Amarillo, TX?
After you've been on a test drive and fallen in love with what will soon be your next car, the question always comes up: Should I buy or lease?
There are advantages to each, and our Finance Center at Street Toyota will be happy to go over them with you. More often than not, the decision will come down to your financial situation. It's a personal choice, so let us go over the benefits of each.
Buying vs. Leasing a New Car in Amarillo, Texas
The most obvious difference here is who ends up owning the car. When you buy a new Toyota, whether it's a car, a crossover, or an SUV, you own the car.
When you lease a Toyota, you have to return it to our dealership at the end of the contract. There is also an option called "lease to own" that we can talk more about when you're visiting our store.
It's worth going more in depth to weigh the pros and cons of each option.
The benefits of leasing a new Toyota are:
- Lower monthly payments
- You get to return it once the contract is over and try something else (if you want)
- You can end your lease agreement early
- You don't have to worry about resale value
You'll still have to take good care of the car you lease. You're basically borrowing it, and you want to make sure it comes back in good condition. Leasing is a good idea for short-term mobility needs, and it's particularly nice for people who don't want the commitment of owning a vehicle outright.
The benefits of buying a new Toyota are:
- Fewer up-front costs
- You own the car, so you don't have to worry about how many miles you put on it
- Handle maintenance at your own pace
- Modify, customize, accessorize - make it yours
The most important thing to remember when buying a car is that you'll eventually want to sell it or trade it in. It's an investment, and to protect that investment, you have to take care of your car and maintain its resale value.
You should also know that buying a car isn't usually as simple as showing up with the full sum of cash and paying it off instantly. Most people who buy a new car choose to finance it. This means you take out a loan and pay it off in monthly installments. Once you've paid the amount equal to the car's price plus interest, then you own the car.
Leasing and Financing Made Simple at Street Toyota
Financing or leasing a new car is easy when you work with the Street Toyota Finance team. Our staff is well versed in coming up with payment plans for all of our clients, no matter what their credit score might be. We'll connect you to our network of trusted lenders and find an agreement that works for all involved.
We also make it easy for you to get the finance process for your new Toyota started online. Take advantage of our online Credit Application to pre-qualify for a loan, and plan ahead with our Toyota Payment Calculator.
Make sure you also check out our current Toyota Incentives and Lease Specials if you're shopping for a new car. You can find a great deal on models like the Toyota Camry, Toyota 4Runner, Toyota Corolla, or the Toyota Tacoma.
If you have any questions about leasing, financing, or our Toyota inventory, please get in touch with us. We'll be happy to help.