Should You Buy or Lease a Car at Toyota of Vacaville?
If you’re thinking about buying a new car, there are two very important details that you need to consider before making your final purchase decision. First and most importantly, you’ll want to know the total cost of ownership and how long it will take for you to recoup your initial investment with payments. The second thing that you’ll want to do is determine what kind of car payment plan or lease option would suit your needs the best. Read on this Toyota of Vacaville blog for some of the key differences between buying vs. leasing a car in Vacaville, CA, so you can make an informed decision on which option will work best for you.
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Buying vs. Leasing a Car: Key Differences
Many people wonder if it is better to buy or lease a car, it really depends on your needs and wants. When buying a car, you have the option to purchase your payment plan based on what you can afford and how much you want to spend monthly, whereas leasing allows you to pay off the vehicle after a certain period.
| Buying a Car | vs. | Leasing a Car |
| Requires 10-20% down payment | Initial Costs | Lower down payments than buying |
| Higher than lease payments | Monthly Payments | Lower than loan payments |
| Total vehicle cost + interest + other charges | Cost Included | Capitalized cost + residual value |
| Complete ownership | Ownership | Do not own the vehicle |
| Affects the owner in terms of depreciation and resale value | Future Value | Does not affect the lessee |
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Get Online Financial Resources for Your Next Car at Toyota of Vacaville
If you’re looking to finance your purchase, Toyota of Vacaville can help you get a pre-approval for credit before deciding on a vehicle and provide you with an auto financing calculator. Visit our showroom or contact us at 707-446-7000 for more information about our finance options.
