At Toyota World of Lakewood, we take pleasure in finding our customers the ideal Toyota, whether it’s leased or purchased. We know that there’s no one-size-fits-all scenario when it comes to car ownership. For people who appreciate low-maintenance vehicles, leasing a new Toyota just makes the most sense. Others tend to buy new cars so they can take advantage of the resale equity in the future. No matter the reasoning, buying or leasing a car should be based on your personality, priorities, and traveling requirements.

To figure out which option might be best for you, take a look at the list of pros and cons below. For more information about leasing and buying cars from our car dealership in New Jersey, or to schedule a test drive of any of our new or used Toyota vehicles, call us at 888-890-7729 today.

When Leasing a Toyota is Best

One in five owners lease a car, and within a few years, that number will likely go up. People are flocking to leased vehicles because they’re potentially better deals when compared to buying new, and they’re often awarded the opportunity to purchase the car once terms come to an end. Plus, you still get to drive off the lot in a sparkly new car, so why not save money while you’re at it?

Leasing a Toyota or another type of vehicle might be best if you fall into any or all of these camps:

  • You appreciate paying the least amount possible per month.
  • You would sell your first-born to cut down necessary auto maintenance tasks to mostly car washes and oil changes.
  • You hate the negotiation process when it comes to buying and selling a car.
  • You like owning modern, top-of-the-line cars with modern, top-of-the-line features and a manufacturer’s warranty.
  • You have little idea what ownership equity is, and couldn’t care less.
  • You live a predictable yet satisfying lifestyle with no intention of moving or increasing daily commute distances.
  • You have a tendency to keep cars clean and dent-free, but know little else about vehicles.
  • You love that new-car smell, and could go into withdrawals if you don’t get a whiff of it every three-ish years.

Of course, leasing isn’t without its cons. With a car lease, you’re probably always going to make monthly payments—you’ll surely have to consider your options to re-lease or buy after your contract expires—and you don’t leave with any trade-in value. Instead of paying to own, you’re essentially renting a car, and you finalize the transaction with only memories of your time together. Sweet, sweet memories.

When Buying a New Car is Best

If 80% of car owners opt to buy a new car over leasing, it must mean buying is a better option, right? Not exactly. When you buy a car, whether it’s here in Lakewood or anywhere else in the country, you’re signing up for a marathon. Cars diminish in value substantially over the first few years, so trading it in or selling it before your loan is paid off won’t net you any profit. In fact, selling a car too early may not cover remaining loan balances. Plus, you’re always on the hook for vehicle repairs after any warranty coverage lapses, meaning costs will only climb as the mileage piles on.

Still, buying is a tradition in America. We buy houses and clothes and new gizmos because it’s a dream we’ve all had: ownership. In a traditional sense, buying a car is a necessary step toward adulthood, and is perhaps the best option for any of the following types of people:

  • Someone who enjoys holding onto cars even after the rust takes over.
  • Someone who can afford to pay higher monthly payments initially, knowing that future payments will vanish.
  • Someone who enjoys bragging about equity, and cares a lot about it.
  • Someone who doesn’t mind the additional costs associated with engine repairs and general servicing.
  • Someone who drives great distances for work or vacation.
  • Someone who enjoys working on and customizing their vehicles.


“Should I

Lease

or

Buy

a Car?”

If you’re caught in a lease-versus-buy pickle of existentialism, remember that we’re here to help! The sales team at Toyota World of Lakewood is available to answer any and all of your questions related to buying or leasing a Toyota in New Jersey. Contact our experts at 888-890-7729 for more details about the available vehicles in our inventory, car financing options, or our unique used lease specials. When you’re ready to jump into a new car—whether it’s purchased or leased—visit our Lakewood Toyota dealership at 1118 Ocean Ave.


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