Should I Buy or Lease a Car?

Should I buy or lease a car? Deciding whether to buy or lease a car can feel overwhelming, but don’t worry. At Advantage Toyota of River Oaks, we get it. This choice can be complex, especially with the changes happening in automotive financing. Here, we’ll explore the benefits of both options to help you make a smart choice. After you’ve thought it through, take a look at our new inventory, start financing, and contact us to schedule a test drive in Calumet City!

Leasing vs. Buying

The Perks of Leasing

Choosing a lease is like renting a car temporarily, and it offers several great benefits for drivers in South Holland or Dolton:

• Lower Monthly Payments: With leasing, you’re only responsible for covering the vehicle’s depreciation during the lease period, resulting in typically lower monthly payments compared to financing.
• Reduced Down Payment: Leasing often entails a smaller upfront payment, making it more accessible for individuals with limited initial funds.
• Lower Sales Tax: Leasing entails paying sales tax solely on the portion of the vehicle’s value utilized during the lease term, potentially leading to tax savings.
• Flexibility: At the lease’s conclusion, you have the flexibility to renew the lease, switch to a new vehicle, or purchase the car at its residual value.

The Perks of Financing

Should I buy or lease a car? Diving into the details of financing can provide clarity. Alternatively, financing a vehicle through a loan offers distinct benefits for drivers in Chicago:

• Ownership: Financing grants you full ownership of the vehicle once the loan is repaid, affording a sense of ownership and the freedom to sell the car at any time.
• Equity Building: Unlike leasing, financing enables you to accumulate equity in the vehicle over time, potentially yielding substantial returns upon resale.
• Cost-Effectiveness: While financing typically involves higher initial costs and monthly payments, it may prove more cost-effective in the long term due to eventual ownership.

Exploring Leasing vs. Buying with the Advantage Toyota of River Oaks Finance Team

If you’re still unsure about buying or leasing, don’t worry. Our team at Advantage Toyota of River Oaks is here to help you make the leasing vs. buying decision. Just call 708-862-0700 to talk to our experienced financiers, who will give you personalized advice based on your finances and preferences. And while you’re at it, check out our latest vehicle deals to find possible savings!