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Buy or Lease

Buy vs. Lease a Car in Indiana, PA    Should you buy or lease?

  

 When shopping for a car, this will be one of the biggest decisions you will make. It will affect you and your wallet for the next few years. Both options have their perks, so read on to find out if leasing is for you.

 

Leasing a car is a lifestyle choice. If you:

·         Are interested changing or upgrading vehicles often

·         Want to always have access to the latest car models

·         Don't want to be tied down to driving the same car for 10 years

·         View cars as more than mere transportation

·        Typically replace your vehicle before its factory warranty expires

·        Typically trade in your vehicle before purchasing a new on a lease may be suitable to your preferences.


The first thing a potential lessee should know is when you lease a car, you won't "own" that car. Think of it as renting a car for an extended period of time. However, you can sell it at any time during your lease, giving you unparalleled flexibility. When the lease is up, you will have the option of purchasing the car or trading it out for a new lease/purchase, hassle-free. Most lessees choose another lease. Leasing is an attractive option for many people because it gives you the option to drive a new car every few years.

In addition, leasing often has low (and sometimes no) down payments, lower monthly payments and often lower sales tax. These factors make leasing a quick and cheap option. As the price of cars increases, the popularity of leasing increases as well, because leasing luxury or high-quality cars is possible without shocking even a modest budget.

Purchasing a car, on the other hand, requires down payments, title and dealer fees, so a buyer should be prepared to put a substantial hunk of money into the purchase of a car in the first year. Toyota offers a variety of lease plans, from 24 months to 60 months and 15,000 miles per year to a Low Mileage Lease of 12,000 miles per year, so you should consider how much and how far you drive. If you exceed the mileage cap, you will have to pay extra mileage fees at the end of your lease, or you can purchase the miles upfront. On the other hand, warranties often run for two years, so significant repair costs are usually covered.

When considering leasing, financial options and ownership preferences should be strongly considered. Lessees should foremost understand their options at the end of their lease, which include the pleasure of driving away in another new Toyota, putting money toward ownership of the car or simply turning it in. Leasing is ideal for consumers looking to start out in a new car with little money up front and who don't want to hassle with trade-in deals and car ownership.


Learn How to Lease

If you are a first-time lessee and need help getting started, follow this simple guide to get on track to your brand new Toyota lease. Check for specials. Colonial Toyota of Indiana, PA offers exceptional leasing specials. Browse our offers and find the lease that's right for you! Toyota also offers a few unique leasing programs, including discounts for recent college grads, military personnel, businesses and returning lessees.

Come in to Colonial Toyota, Indiana, PA to view our inventory. Schedule a test drive, and narrow down the field to a few candidates.

Review the lease agreement. Make sure you are familiar with the length of the lease, the amount due at signing, the mileage allowance, the monthly payment amount and factory warranty coverage.

Call your insurance company and notify them that you are leasing a new vehicle.

Accept the car. We recommend this time to ask your Colonial Toyota salesperson any last questions you may have about the vehicle. After paperwork is signed, the lease is yours!

Maintain your lease. Keep track of mileage and how many months you have left on your lease. As your lease winds down, you may want to begin considering your next lease with Colonial Toyota!

 

 

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