So you have done your research, searched far and wide and finally found your perfect vehicle; the only thing left is deciding how to pay for it. Leasing and financing are both good options, but which one is right for you? Here is what you need to know
If you’d prefer to make smaller payments leasing is a great option, as monthly payments are usually less than for financing. When leasing a vehicle the maintenance and repairs are also taken care of for you, and you can even upgrade to the latest model for considerably less than buying it outright.
However, leasing often comes with restrictions regarding how far you can drive the vehicle and the condition you need to keep it in, and if you decide you want to buy it outright you will pay a lot more in the end than through financing.
Financing usually involves slightly higher monthly repayments than leasing but over a shorter period of time, and while you won’t be able to continually switch your vehicle for the newest model, you will own that vehicle a whole lot sooner. Even when you add in the cost of maintenance and repairs, with financing you can own your vehicle for a lot less than if you had leased it.
If you have questions about leasing or financing, contact us today. Our friendly staff here at Funks Toyota will be happy to help.