Lease vs. Buy

If you are trying to pick the best car solution for your financial situation, our dealership staff can help. Picking between a lease or buying a car is a difficult one to tackle on your own. The finance specialists at our Toyota dealership in Athens, GA, don’t want you to do it alone. You can rest easy when you know experts are willing to help you make the best decision. The staff at Heyward Allen Toyota is prepared to do just that for you. We have a fantastic Finance Center that makes it easy for you to understand the benefits of both leasing and buying.

Leasing

The first topic that we need to cover is who owns the vehicle. When you lease a vehicle in Athens, you do not own it. A monthly payment that you will make is paying for the use of the car. The people who own it is the finance institution that leased you the car. Because you are only paying to use the automobile for a certain amount of time is why most people pay less per month in a lease. That leads us to the talk of the future value of the automobile you want to lease. In most cases, you will not end up owning it, which means you don’t sell it. That’s great news! You don’t have to go through the stress of selling to another person privately. The financial institution will simply find someone else to lease or buy it.

The up-front costs you have to think of are next to none. Leases do not typically require any down payment. You may have to pay the first month’s payment and a security deposit on top of the acquisition fee and taxes. That’s not very much if you are thinking of lease vs. buy. If you do want to lower your monthly payment amount, you can always pay with more upfront.

Buying

With buying, it doesn’t matter if you pay for the vehicle with cash or finance it. You own the car from our Toyota dealership near you. The only thing to note is that if you choose to finance and make monthly payments, there are typically agreements that the lender will require. Sometimes it relates to a certain down payment amount or timely monthly payments, which goes into the topic of up-front costs for lease vs. buying. If you are paying for it all upfront, you get to take it home and obtain the title to make it entirely yours. If you are financing it, the bank asks for a down payment. Down payments differ. Sometimes we have offers and deals to help people save money; other times, it is entirely based on your credit score. You can always take the option to trade-in another vehicle you don’t drive anymore. You can use that equity towards a down payment at Heyward Allen Toyota.

As far as your car’s future value, your vehicle will be worth whatever you sell it for. That is all dependent on how well you maintain the car. People are more willing to pay more for a car that is closer to a new condition.