Should I Buy or Lease? | Punta Gorda FL
While you may be familiar with the benefits of purchasing a car, do you know about the advantages to leasing? Is there a big difference between the two? Do you know which option is better financially for you? Here at Gettel Toyota of Charlotte County, we get it. Choosing to buy or lease is a big decision. We’ve gathered plenty of information on the benefits of each to help you decide. If you have additional questions, our Finance Department is here for you with answers. To learn more about the advantages of buying or leasing your new vehicle, keep reading!
Why Lease
a Vehicle?
Minimal Upfront Cost
When you lease a new vehicle, you are essentially agreeing to make monthly payments and to return the vehicle to the dealership at the end of your agreed lease period. Because of this agreement for a set period of time, your financial responsibility and monthly payments may be reduced. And with our new car specials, you may even pay nothing to begin your contract with zero down payment. Upfront costs in a lease can be almost nothing.
Lifestyle Flexibility
Generally, a lease period can last anywhere from 24 to 60 months, allowing you to make affordable payments with shorter terms. You are usually given up to 15,000 miles per year to drive, but if you require more miles, you can purchase them at signing. With leasing, you have the ability to drive a new vehicle every few years without having to deal with the hassle of trading or selling it. You also have the option to purchase your Toyota at lease-end if you’ve fallen in love with it.
Warranty Protection
Because your lease period runs between two or three years and you’re driving a brand new Toyota, it could still be covered under the ToyotaCare warranty for the entire time you drive it. You also have the option to purchase our Lease Excess Wear & Tear Protection Plan, which would wave the cost on small dents and scratches. When you lease, you don’t have the financial responsibilities that you’d have when owning a vehicle.
Why Purchase
a Vehicle?
True Freedom
There are, however, a lot of perks to ownership. Once you pay off your vehicle, it’s yours to do whatever with! You can sell, trade or keep it for a lifetime if you so choose. You are totally free to keep your car as long as you want, and you have the ability to customize it to match your lifestyle. Make upgrades, give it a new paint job or face lift. Whatever you choose to do! Owning is a win-win investment not offered by leasing.
Financial Flexibility
Despite the fact that most finance terms require a down payment, purchasing a vehicle may be the more financially responsible choice. There are more financing options than you’d get with a lease. You can choose to pay in full with cash or finance through us at Gettel Toyota of Charlotte County or another lender. When you’ve completed the loan for your vehicle, that money is secured. It’s a good return on an investment. You’re essentially losing your money when you return a leased car to the dealer, and you’ll have to start over again.
No Mileage Restrictions
There’s a certain satisfaction in being the true owner of a vehicle. It means freedom from lenders and total independence. Once you’ve finished paying off your loan, you’re completely in charge. No mileage restrictions or fees if you go over, and no need for permission to leave the country with your vehicle like you’d need with a lease. It’s total freedom.
If you’re ready to be the proud owner or lessee of one of our new models, or are interested in learning more about your lease-end options, feel free to contact us online or visit us at 1801 Tamiami Trail, Punta Gorda, FL 33950. We look forward to serving customers from Port Charlotte, North Port, Venice and Fort Myers.