Leasing vs Buying

 

Our staff at Fred Anderson Toyota of Sanford knows how important buying a vehicle is to our customers. Our staff is dedicated to assisting our customers in making the right decision in the purchase process which is why we have provided you with an overview comparison of leasing vs. buying your next vehicle. If you have any further questions or would like any further information, please don't hesitate to reach out utilizing the lead form on this page.

 

 

 LEASING

 BUYING

OWNERSHIP

Although you don't own the vehicle while you lease, leasing enables you to always have a new car in your driveway while benefiting from the latest safety technology.

You own the vehicle & keep it as long as you want it (however, with the average conventional loan length of 5 years 6 months, the banks hold your title).

UP FRONT COSTS

Typically includes 1st month's payment, refundable security deposit (if applicable), down payment, taxes, registration & other fees

Includes cash price or a down payment, taxes, registration & other fees

MONTHLY PAYMENTS

Lease payments are typically lower than loan payments. You can get more car for a lower monthly payment!

They are usually higher than lease payments because you're paying off the entirety of the purchase price plus interest as well as other finance charges, taxes & fees

EARLY TERMINATION

If you end your lease early, early-termination charges may apply

You can sell or trade-in your vehicle at any time & if necessary, money from the sale can be utilized to pay off any loan balance

VEHICLE RETURN

At the end of your lease, you can return the vehicle, pay any end-of-lease costs & walk away (Toyota will begin to incentivize the customer up to 6 months in advance of your term ending).

You can sell or trade-in your vehicle when you decide you want an alternate unit

FUTURE VALUE

Future value of your vehicle doesn't affect you financially

Your vehicle will depreciate but its cash value is yours to use

MILEAGE

Most leases limit the number of annual miles (typically 12,000-15,000 miles per year). You can always negotiate a higher mileage limit but our team recommends setting it up on the use of the vehicle & not solely the payment of the unit

You're free to drive as many miles as you desire. Just remember the higher mileage on your vehicle lowers the unit's trade-in or resale value

MAINTENANCE

Customers normally lease for a term that coincides with the manufacturer's warranty coverage so that if something does go wrong, the repairs are covered.

You don't have to worry about wear & tear, but it could lower the vehicle's trade-in or resale value

END OF TERM

At the end of your lease term (typically 2-4 years), you can finance the purchase of your vehicle and/or lease or buy another unit. Many automakers offer subvention cash to customers that choose to purchase their leased vehicle.

At the end of your loan term (typically four to five years), you have no further payments & you have built equity to help pay for your next vehicle

Now that you know the comparisons between leasing & buying, make sure to check out our monthly specials before you buy!
Plus, quick & easy online credit
approval is available 24/7.

APPLY FOR CREDIT apply for credit

CURRENT LEASE SPECIALS

2017 Corolla LE Auto

New 2017 Corolla LE Auto

Lease As Low As

$120/ Month

36 Months 1 START SHOPPING apply for credit
2017 Camry SE

New 2017 Camry SE

Lease As Low As

$172/ Month

36 Months 2 START SHOPPING apply for credit
2017 RAV4 LE

New 2017 RAV4 LE

Lease As Low As

$195/ Month

36 Months 3 START SHOPPING apply for credit
2017 Prius Two

New 2017 Prius Two

Lease As Low As

$265/ Month

36 Months 4 START SHOPPING apply for credit
2017 Tacoma

New 2017 Tacoma SR5 4x4 Double Cab V6

Lease As Low As

$225/ Month

36 Months 5 START SHOPPING apply for credit

1 Excludes tax, tag, title, license & $599 administrative service fee; Ex Mdl 1852, Stk HC779111, MSRP $20,093, $3,500 down, closed-end lease, $0 security, 12k miles/year with $.15/mile overage with approved credit. $4,320 total monthly payments. Residual $12,859.52, Ends 4.3.17

2 Excludes tax, tag, title, license & $599 administrative service fee; Ex Mdl 2546, Stk hu347252, MSRP $25,773, $3,500 down, closed-end lease, $0 security, 12k miles/year with $.15/mile overage with approved credit. $6192 total monthly payments. Residual $15,206.07, Ends 4.3.17

3 Excludes tax, tag, title, license & $599 administrative service fee; Ex Mdl 4430, Stk HW349026, MSRP $26,666, $3500 down, closed-end lease, $0 security, 12k miles/year with $.15/mile overage with approved credit. $7020 total monthly payments. Residual $17,816, Ends 4.3.17

4 Excludes tax, tag, title, license & $599 administrative service fee; Ex Mdl 1224, Stk H3532035, MSRP $26722, $0 down, closed-end lease, $0 security, 12k miles/year with $.15/mile overage with approved credit. $9540 total monthly payments. Residual $15254, Ends 4.3.17

5 Excludes tax, tag, title, license & $599 administrative service fee; Ex Mdl 7540, Stk HX079871, MSRP $35284, closed-end lease, $0 security, 12k miles/year with $.15/mile overage with approved credit. $8100 total monthly payments. Residual $26600, Ends 4.3.17

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