Leasing vs. Buying a Toyota in Muskogee, OK
Learn More About Buying vs. Leasing Your Next Vehicle at James Hodge Toyota in Muskogee, OK
When our customers come in looking for a new car at our Toyota dealership, serving Muskogee, Tulsa, Broken Arrow and McAlester, we are thrilled to be part of this major life event, and that is why we are also prepared to walk you through the next major step: financing. Whether you take the time before visiting our 2314 West Shawnee Bypass location and apply for financing from the comfort of your home, we are prepared to help you select the right Toyota lease or car loan for you.
But wait, what is the difference between a lease and a loan? Which one is right for you? Our staff at James Hodge Toyota have been down this road before, and that is why we are the best source for answers to your auto financing questions. Here is a quick rundown of the differences between leasing and buying a new car, truck or SUV because we want our customers to have all the facts before making a commitment, which is just one more way we are working for those we serve in the Fort Gibson, Broken Arrow, and Tulsa area.
Once you have read through these facts, contact us to set up your test drive or to discuss your individual financing needs.
Benefits of Buying a New Toyota
Benefits of Leasing a Toyota Model
- Once you have paid the loan off, the car is yours and you will no longer have that payment each month.
- When buying, your car payment will be higher than those leasing, but that will be worth it at the end of your loan terms.
- You will build equity by owning the vehicle.
- If you are interested in customization and DIY projects, owning will be the better choice because you're able to customize your vehicle with parts and accessories, etc.
- With no limit to mileage, there's also no limit to where you can go in your new car.
- If you don't mind the idea of a faster depreciation rate with the knowledge that you can still trade it in if you choose to find a newer model down the road, then buying is right for you.
- Leasing affords you the opportunity to trade up for a new model every few years.
- Because you are trading in every few years, you will also have a lower monthly payment, but those payments don't cease like they would if you were to buy.
- Since you will essentially be renting the vehicle, you will have restrictions on mileage, which isn't necessarily a bad thing if you're just looking for a reliable commuter vehicle.
- If you don't have money to put down on a new car, this might be a better choice.