• Contact Us: (800) 268-4793
  • Service: (800) 577-8316
  • Parts: (800) 577-8354

9101 South Boulevard Directions Charlotte, NC 28273

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Buying vs Leasing

Buying Vs. Leasing

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Having trouble deciding whether you should buy or lease your next Toyota from Town & Country Toyota in Charlotte, NC?

When you buy a car, you are paying for the entire value of the car. When you lease, you are only paying for a portion of the vehicle's value, the part you'll be using when you drive it.

Here's some helpful information about the advantage of both!


BUYING

// Who Owns The Vehicle? //

When you buy, you own the vehicle. If you finance it, of course you'll have to make monthly payments. If you don't, your lender will have the right to repossess it.

// Up Front Costs //

If you're financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender's requirements and your credit score.

// Future Values //

Your vehicle is ultimately worth whatever you can sell it for in the future. Of course, that depends on how well you maintain it. That's one big reason you should take advantage of 2-Year ToyotaCare® No Cost Maintenance at Town & Country Toyota!*

// End of Payment //

Once you pay off your car loan, you own the vehicle 100%! You can continue to drive it payment free, sell it for cash or get a trade-in allowance on your next vehicle.


LEASING

// Who Owns The Vehicle? //

When you lease, you do not own the vehicle. You are simply paying for the use of the vehicle for the term of your lease. The financial institution that you leased it through actually owns the vehicle. The advantage here is that your monthly payments are usually lower than if you were purchasing the vehicle.

// Up Front Costs //

Often a lease does not require an actual down payment. You are typically required to pay the first month of the lease, the acquisition fee, other fees (like taxes and tag), and sometime a security deposit. Security deposits can be waived if your credit history warrants it. As with purchasing, you can lower your monthly lease fee by paying a larger sum up front.

// Future Values //

With a lease, you don't own anything, so you won't be selling the vehicle. However, you should be aware that most leases have mileage limits and wear and tear guidelines that could cost you more money at the lease's end.

// End of Payment //

Typically, when the term of your lease ends, you have two options. One is to simply turn the car in. The other is to buy the vehicle at that point in time. The leasing agency will typically contact you with a buyout figure well before your lease expires. Should you choose to buy your leased vehicle at the end of your lease, you don't need to worry about mileage or wear and tear charges.


// The Best Vehicles To Lease //

The best cars to lease are the ones with the best book (resale) value at the end of the lease. Since they depreciate less, you pay less.

Toyota vehicle are noted for their ability to hold their value over time. For example, over 90% of all Camrys sold in the last ten years are still on the road today!

// Drive For Less Today At Town & Country Toyota //

We hope this information has been useful.

Should you require more information, fill out the form and we'll get in touch.

Whether you decide to buy or lease your next Toyota, make sure you do it at the dealer that always offers you a better buying experience, Town & Country Toyota, serving Charlotte, Fort Mill, Concord, Gastonia and the Rock Hill areas.

* ToyotaCare covers normal factory scheduled maintenance for 2 years or 25,000 miles, whichever comes first. 24-hour roadside assistance is also included for 2 years, regardless of mileage. See Toyota dealer for details and exclusions. Valid only in the continental U.S. and Alaska.


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Town and Country Toyota

9101 South Boulevard
Directions Charlotte, NC 28273

  • Contact Us: (800) 268-4793
  • Service: (800) 577-8316
  • Parts: (800) 577-8354

Hours

  • Monday 8:30AM-8:00PM
  • Tuesday 8:30AM-8:00PM
  • Wednesday 8:30AM-8:00PM
  • Thursday 8:30AM-8:00PM
  • Friday 8:30AM-8:00PM
  • Saturday 8:30AM-8:00PM
  • Sunday 11:00PM-6:00PM