Should I Buy or Lease? | El Dorado, AR
Should You Buy or Lease?
Considering a new Toyota? No matter which model you decide on, we can guarantee that you're going to love it! Each Toyota in our inventory offers modern style, advanced technology and an incredible reputation for reliability, so you can't go wrong. But once you've selected the Toyota you want, you may be left wondering which option is better for you: buying or leasing? We can't make that decision for you, but we can offer some guidance. Let's take a look at the pros and cons of both options below:
Why Lease a Vehicle?
Minimal Upfront Cost
Leasing gives you the privilege of driving a new Toyota, but without the commitment of ownership. You'll have a set number of years to drive the vehicle, during which you'll make monthly payments. Both the down payment and monthly payments for a lease are often more affordable than a down payment and monthly payments for a purchase. Plus, with our new car specials, you may be able to save even more! Check out our latest offers to find out what's currently on sale.
Lifestyle Flexibility
Leasing might be right for you if you don't want to commit to a vehicle long term, and you won't have to deal with selling your vehicle when you're ready to upgrade. You'll have a limited number of years ?— typically 2 to 3 years ?— to drive the vehicle. Mileage is also limited, but if you foresee yourself driving over the limit, which is typically 12,000 to 15,000 miles, you can opt to extend the limit (which will cost more) before you sign the lease agreement. In the event that you become attached to your Toyota (which wouldn't surprise us), you'll have the opportunity to purchase it at the end of the lease.
Warranty Protection
Because most leases last only a few years, your Toyota will likely be covered under the original manufacturer's warranty during the entire lease period. In the event that your vehicle experiences issues that fall under warranty coverage (which is unlikely since the vehicle is brand-new at purchase), you won't be financially responsible. That's more peace of mind for you!
Why Purchase a Vehicle?
True Freedom
Owning your vehicle has its own unique benefits. Whether you pay out of pocket or finance your vehicle, once it's paid off, you'll have the freedom to drive it for as long as you want and how far you want. The next time you're ready to upgrade to a new Toyota, you'll be able to sell or trade in your vehicle for a new one. We make it easy here at Karl Malone Toyota of El Dorado!
Financial Flexibility
Buying a Toyota may be more financially beneficial in the long term than leasing. If you choose to finance rather than pay out of pocket all at once, you'll have more financing options available, plus the money you spend when you make the down payment and monthly payments will go towards owning your vehicle once your payments are completed.
No Mileage Restrictions
When you purchase a new Toyota, you won't be limited by any mileage restrictions or fees for going over the limit, and you won't be required to obtain permission if you want to drive outside of the U.S. You'll also avoid fees for excess wear and tear. Are you ready to experience the freedom of owning a new Toyota today?
If you have further questions, our finance experts are only a phone call away! When you’re ready to buy or lease one of our new Toyota models, come see us at 1830 West Hillsboro, El Dorado, AR 71730 , near Magnolia, Camden, Junction City and Crossett. We invite you to experience the Karl Malone Toyota of El Dorado difference today.