ONLY at Keith Pierson Toyota as low as 0% 36 months on Camry, Corolla and RAV4.
If you’ve decided you’d like a fresh start behind the wheel of a new vehicle, you can choose between buying a car outright or leasing one. Both options have their benefits and will be attractive to different groups of customers. Here at Keith Pierson Toyota, we offer competitive auto financing and leasing deals for you to explore.
Buying or Leasing a Car
When a customer buys a car or SUV, they pay for its full price and take ownership of the vehicle. Most people don’t have enough money to purchase a car outright, so they take out an auto loan to fund the purchase. The owner of the car can use their vehicle however they like without any restrictions.
If you lease a car, you pay a dealership to drive the vehicle for an agreed period of time. The monthly payments you make do not give you an ownership stake in the vehicle. Instead, you’re paying to rent the car or SUV for a period of two, three, or four years. Once the lease ends, you have to give the vehicle back to the dealership.
Advantages of Buying
Some consumers prefer to buy a vehicle outright because it gives them the freedom to use it as they like. Car owners don’t have to pay attention to the mileage limits that come with leased vehicles.
Another bonus for vehicle owners is that they can accessorize or customize their vehicle in anyway they want. For example, they may choose to add some off-roading tires or some sporty accessories. By contrast, someone who leases a vehicle has to keep it in the condition it was in when the lease began. Dealerships can charge penalties if a leased vehicle is returned to them at the end of a lease in poor condition.
A further advantage to buying is that you have the option of selling your car at a later date to fund your next purchase. Trade-in programs offered by dealerships can result in significant savings for you on your next new or pre-owned vehicle.
A final benefit for auto purchasers is that they typically save money in the long run compared to someone who leases a car. That’s because when an auto loan is paid off, the car’s owner no longer has to make any monthly payments. For the leasee, however, payments always have to be made for as long as the lease lasts.
Advantages of Leasing
One advantage of leasing your next vehicle is that your monthly payments will likely be lower than if you buy. That’s because you don’t have to cover the whole value of a car as part of your lease agreement. Instead, you only pay for the depreciation in cost it experiences during the lease deal.
An additional benefit is that you can get behind the wheel of a new vehicle with all the latest technology on a regular basis. Car owners typically drive their vehicles for a much longer period of time, meaning that they can’t access the latest tech features so easily.
A further advantage of leasing is the easy process when the deal comes to an end. All you need to do is return your leased car or SUV to our dealership and you’re free to lease or buy another vehicle. By contrast, a car owner usually has to find a buyer for their vehicle before they can go looking for a new one. Selling a vehicle on the private market can be a time-consuming process.
A final positive aspect about leasing is that you’ll always drive a car during its best years. Many leased vehicles will still be covered by their factory warranty, which means that any defective components or problems can be repaired. Other lease deals may have a service contract as part of the agreement. This contrasts with car owners, who may have to deal with hefty repair bills as their vehicle gets older.
Auto Financing or Leasing at Keith Pierson Toyota
Whether you decide to buy or lease your next vehicle, our expert finance team at Keith Pierson Toyota is here to help. We work with several nationwide and local financing partners to provide you with competitive rates and great terms. Even if you don’t have a good credit rating, we’d be happy to work with you to secure a deal.
Our lease agreements can vary in length depending on your needs. We accept down payments for leases, although these are usually smaller than the down payments you’d need to make on an auto loan.
Whether you decide to buy or lease, you can choose from our great lineup of Toyota vehicles. We have cars, SUVs, and trucks in our showroom to meet everyone’s needs. Buyers or leasees looking for a compact vehicle designed for city driving will be well served by the Toyota Corolla or Toyota Camry.
Toyota’s SUV lineup caters to families who need a bit more space. The Toyota Highlander is ideal if you prioritize passenger space, while the 4Runner is perfect if you like taking a drive off the beaten track from time to time. Don’t forget our Toyota truck options if you need to get the job done. Pick from the full-sized Tundra to shift the heaviest loads or the more compact Takoma.
Buy or Lease Your New Vehicle at Keith Pierson in Jacksonville
We hope that our guide to leasing or buying a vehicle has helped you decide which option is right for you. There’s really no correct answer to the question of whether it’s better to lease or buy, since both options have their own benefits that attract different types of car drivers. If you prefer having full control over how you use your vehicle and don’t mind paying a bit more each month, you’ll probably prefer to buy. If you prioritize driving the newest vehicles and don’t mind sticking to mileage limits, leasing will be attractive.
If you still have questions about leasing or buying your next vehicle, don’t hesitate to contact us and view our finance department page. Our Toyota experts here at Keith Pierson are standing by to take your call or respond to your message.
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