Should I Buy or Lease?

man with car documents outside

When you have decided to browse for a new Toyota for sale in Salem to enhance your daily commute, you may be asking yourself about the best financial path. When it comes to deciding between getting a lease vs. buying, it’s best to think about your lifestyle, driving needs, and budget. There are benefits to both, but it’s more important to consider your needs, what you want, and what you can afford. Rockingham Toyota is discussing the benefits that come with financing and leasing, so you can decide which is right for you.

Benefits of Buying

  • No Mileage Restrictions: If you enjoy driving and do a lot of it, consider buying a vehicle. Without any mileage limits, you can do as much driving as you would like.
  • Total Ownership: Buying a vehicle means it’s yours, and there are no restrictions on how it’s modified, enhanced, or when to sell it.
  • Customization: Make your Toyota vehicle stand out on the Lawrence roads! When you buy, you can further enhance your vehicle through customizations.
  • Ability to Sell: Since you’re not locked into a lease agreement, you can opt to sell your car at any time.
  • Financing Options: While leasing is stress-free, financing a car is straightforward and open to car buyers with bad or poor credit. Buying also allows you to refinance your loan to lower your interest rate and monthly payments.
  • Less Cost Over Time: At first, buying a new car is more expensive, but easier and more affordable as you start paying it off.

Benefits of Leasing

  • Lower Payments: Whether it’s monthly or down payments, leasing a vehicle tends to cost less.
  • Less Sales Tax: In most states, leasing drastically lowers sales tax. Some areas only require you to pay tax on the amount you put forth in the down payment and for the monthly payments.
  • Trade-Ins: Once the lease agreement ends, getting your next vehicle is simple. Visit Rockingham Toyota to pay off any remaining fees, choose your next Toyota, and then drive home to the Methuen area.
  • Great Coverage: Warranty coverage and maintenance is simple when leasing. If an issue comes up that’s under the warranty, and as long as you didn’t go over the mileage limit, you’re covered!
  • Options: Leasing lets you drive the newest models with updated safety and technology features each time you lease a new vehicle.
  • High Approval Rate: While you may be denied for a car loan, it can be easier to approved for a lease – even if you have poor or no credit.

Explore Leasing and Financing Options at Rockingham Toyota

Have you answered your question, “should I buy or lease?” Stop by Rockingham Toyota, where our team of financial experts is ready to work with you one-on-one throughout the entire car-buying process. Take a look at our Toyota leasing and financial deals before making the short drive to our Salem dealership for a test drive. Give us a call if you have any questions in the meantime.

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