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Leasing vs Buying

 

Why Lease a New Car?

If you want to drive newer, safer, more reliable cars or trucks, prefer not to make a sizeable down payment every few years, and also don’t travel an excessive amount of miles every year, then a new car lease should be best for you. Leasing is designed for those who prefer to bypass the hassle of selling and buying each time they want to drive a new car, truck, or SUV.

Why Should You Buy a New Car?

Conversely, if you prefer long term relationships with a higher sense of commitment and ownership, then buying might be what’s best for you. Car-buying is typically best for drivers who will not mind driving the same vehicle for over five years or even until the vehicle is no longer suitable for the road.

Buy vs Lease: Which Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a car or truck is important. Be sure to examine factors like vehicle ownership, monthly payments, repair costs, and potential savings when weighing the pros and cons of the best new vehicle financing type for you.

Leasing vs Buying: Ownership

When weighing the value of vehicle financing, new vehicle ownership surely comes with many advantages, most associated with complete ownership of the car. You may not realize, but, there are also a few great benefits of leasing, as well. It’s important to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A close observation of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the perfect choice between leasing and buying a new car.

leasing vs financing a new car benefits

Monthly Payments

Vehicle lease payments are often less expensive than auto loan and car financing payments as the typical lease format is more-or-less renting with the option to purchase near the final payment of your lease term. Just consider when leasing that you will need a healthy credit score, and will be asked to carry comprehensive and collision insurance, though the same can be said for the lowest rate auto loans. Though it can likely add to your monthly payments, it’s also smart to get a model with the features you need or want, as personal satisfaction is often priceless.

why leasing a car is smart

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It is important to keep this in mind when calculating monthly costs of leasing vs ownership. No matter what make and model you buy, mechanic bills are an unpredictable cost that can rapidly add up. And for those of us who aren’t certified mechanics with a full toolset and hydraulic jack in the garage, leasing might be the best option for peace of mind.

lease vs finance car analysis

Savings vs Investment

Generally speaking, a new vehicle lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a financed/purchased vehicle, you can pay it off in a shorter term and also avoid excessive wear and mileage.


Lease Buy
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Maintenance & Repair Costs Typically Included Not Included
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
APR % Credit-Based Credit-Based
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available

Toyota Lease and Finance Offers In Orange County CA

Toyota of Anaheim knows that choosing the right Toyota car and financing option is never easy. Our team of experienced Toyota lease and finance specialists are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Orange County, CA. We look forward to serving you.

Toyota Lease Deals

 

Toyota lease deals Orange County CA

Buy a New Toyota Online

 

buy a new Toyota online Orange County CA


Lease vs Buy Toyota In Orange County CA

| Toyota of Anaheim

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Google Feb 14, 2025

Good service as usual

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Google Feb 13, 2025

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Google Feb 12, 2025

No fault of the dealership but I was selling my old car and a potential buyer told me to go here for an inspection but failed to tell me that it costs $150 and they never showed up. The guy that helped me at the service area was very nice and resourceful.

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DealerRater Feb 12, 2025

Service was top notch. Got me in and out. Addresses my warranty issues and didn’t push a bunch unnecessary stuff. I’ll be back.

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Google Feb 11, 2025

Finally got the truck i always wanted!!!! All thanks to Carter Garcia and his team!. Appreciate you keeping your word. Anyone who's looking for a car or truck ask for Carter Garcia you won't be sorry.! Again thank you for making my experience in a dealership smooth and easy!.

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Toyota of Anaheim 33.852795, -117.94303.