Buy vs Lease Information | Bradenton FL | Near Sarasota & Brandon

Buying vs. Leasing Your New Vehicle

If you're in need of a new car, you have many decisions ahead of you, one of the major ones being whether to buy or to lease your next vehicle. Both options give you unique benefits, and they're great options for people depending on their priorities and budget. So how do you know which choice is the right one for you? We're here to help you make the decision that best fits your lifestyle, so keep reading to find out more about buying versus leasing.

WHY LEASE A VEHICLE?

Freedom of Choice

Two of the leading benefits of leasing a vehicle are freedom and flexibility. When leasing, customers can put off the decision to buy and have the freedom to drive a new vehicle every few of years if they choose, without the trouble of having to sell or trade your vehicle.

Flexibility

Leasing terms usually last between 24 to 60 months. This lets you to make more affordable payments with shorter terms. Plus, you get to select your mileage. Lessees are typically given 12,000 or 15,000 miles per year, but if you need a higher mileage allowance, you have the option to buy more miles when you sign.

Lower Payments

Because you're only buying the right to drive a vehicle for a select period of time, your financial obligation and monthly payments may be reduced greatly. Also, if you have a small down payment, then leasing may be better for you, as there are many leasing options that require $0 down.

Hazard-Free Driving

Because most leases last for a short amount of time, your vehicle normally has warranty protection for as long as you drive it.

True Convenience

When a lease expires, you normally turn your vehicle in and pay off any remaining fees (such as for extra mileage or wear and tear) and taxes. If you'd rather not part with your vehicle at lease-end, you can also take the opportunity to purchase it at a preset price. In either case, there's no need for you to sell it or trade it in unless it benefits you.

WHY BUY A VEHICLE?

Benefits of Buying

Ownership

Ownership is the best benefit of buying your next vehicle rather than choosing to lease. If you are planning to keep your vehicle for an extended time or for as long as possible, then buying is the better option for you. Plus, buying as opposed to leasing provides you with the freedom to customize your vehicle to match your needs.

No Mileage Restrictions

When financing your vehicle, you are accountable for the miles you travel and don't have a mileage regulation like you would with leasing. Leasing involves you figuring out in advance how many miles you’ll drive each year. Ownership allows you to drive as much as you like without collecting fees.

Payment Flexibility

When buying a vehicle, you can purchase with cash or prefer to finance. If you buy with cash, you become the owner of the vehicle and don't have to stress about monthly payments. If you choose to purchase a vehicle by using a finance program, you pay down the loan amount over a prolonged period of time. For the best outcome when financing, we highly recommend that you find the most affordable, reliable and competitive rates out there, like what we offer here at Gettel Toyota of Lakewood.

True Freedom

At the completion of your payment schedule, typically four to six years, you own your vehicle. You can continue driving for as long as you want without any further payments, or choose to sell or trade whenever you like.

If you’d like to learn more about buying versus leasing, would like to check out our wonderful selection of new models and quality pre-owned vehicles or are interested in learning more about your lease-end options, feel free to contact us directly or visit us at 5959 E State Road 64, Bradenton, FL 34208 for a test-drive today. We look forward to serving our customers near Sarasota and Brandon.