Buying vs Leasing a Car

When time approaches to think about a new vehicle, there is a decision to be made. Lease or Buy? Some may not know the real difference between leasing and purchasing a vehicle yet it is a big financial decision to make. Approximately 25% of people lease cars but it might be a smarter option for a much larger percentage of us.  

We'll look at the top 5 reasons for leasing a new car or truck (Top 5 reasons from Toyota Albuquerque website).  

• Leases tend to be optimal for those who want a new car every 2-4 years. Whatever the reason, if you're confident that you'll be getting a new vehicle in 2-4 years then leasing is a smart choice.
• Most leases cap your mileage somewhere between 12,000-15,000 miles per year.  If you drive that many miles or fewer than you'll get the maximum benefit from your lease deal. 
• In many cases, taxes on a leased car occur along with the monthly payments, not on the upfront cost.  This allows you to pay your taxes over time instead of in a lump sum. 
• In most cases, payments on a lease are less than when you buy a car.  This is especially true when you lease for 24-48 months. 
• Have you heard the expression "two left feet" applied to people who can't dance very well?  Well, then those who aren't adept at working on their Toyota car or truck have "two left hands".  If you're not very good at working on cars or if you prefer to leave routine maintenance and repairs to the professionals, then leasing is likely a good option for you.  All new Toyotas come with some kind of warranty like 60 months, 60,000 miles Powertrain Coverage.  If having a safe car is important to you then you'll defiantly want to look at a lease.

Want to know more about the comparison of leasing versus buying a vehicle? Come by and see our sales staff to find out more.

Larry H. Miller Toyota Albuquerque
10401 Copper Ave. NE
Albuquerque, NM 87123
Sales:     (866) 664-0775
Service:     (866) 638-3350
Parts:     (866) 779-9519