When it comes to getting behind the wheel of a new car, there are a few different options for you to consider when handing over the cash. You can lease a car for a low down-payment and a set monthly payment plan that allows you to take advantage of the latest and greatest in high-tech convenience without paying the full-price, or you can buy a car and pay the full price in cash or set up a financing plan to pay for it over several months. Which is your best option? Check out this list of questions to consider when you’re wondering whether to buy or lease a new Camry.
Is Leasing a Car Better for Daily Commuters?
So, you’ve got your eye on a new car and you just don’t think you’ve got room in your budget to buy it. When you come to visit the team at Lexington Toyota, you’ll get the chance to choose between leasing and buying it. What are the benefits of leasing a car? Isn’t it better to own it? Ask yourself these things:
- How much do you drive?
- How long are you hoping to have your car?
- How settled are you in life? Considering making a big move in the near future?
- What does your credit score look?
If you drive a lot and tend to put a lot of wear and tear onto your vehicles, it might be best to consider buying. Leasing often comes with mileage restrictions, and you are responsible for the wear and tear you inflict on it. Any damages will come with additional charges when you return the vehicle at the end of the lease.
If you want to drive the same vehicle for more than 2 years, it’s probably in your best interests to buy the car. Not only do you drive without restrictions for mileage, but you also have the option of selling it down the road. When you lease a vehicle, you won’t get any of your money back at the end of the lease. Also, if you’re planning on moving out of the country, or even across the country, in the next year or two, it’s probably best not to lease. Ending a lease contract early can be very expensive!
When Is It Best to Lease a Car?
The best situation in which to lease a vehicle is if you don’t drive a lot, you prefer to drive something new and reliable, and you have excellent credit. If giving the car back after 2 years sounds perfect for your lifestyle, and you have a tighter budget that will not allow for a full car purchase, then leasing might be your perfect option!
If you need more advice, or have questions, give us a call and schedule a meeting with our financing team. We would love to get you behind the wheel of a new car at a great price!