You’re considering a new vehicle but the choice to buy or lease is something to consider. At Peruzzi Toyota, we have new inventory ready for purchase as well as lease specials plus financing options to help you decide.
Advantages and Disadvantages of Buying
Once purchased, a vehicle it’s yours to do with as you please. Sell or trade your vehicle at any time if you buy it with cash. You’ll also save money on interest charges and accrue equity. Whether it’s financed or paid for outright, you’re investing in a vehicle that will be yours.
Something to consider is once the new car warranty expires, you can either get an extended warranty or take your chances without any coverage. This means you’re responsible for all future repairs.
Advantages and Disadvantages of Leasing
One of the major advantages of leasing is the vehicle is turned in at the end of the lease terms free and clear. At that time, you’ll get a new lease, new car, new warranty, but no equity.
With a lease, the down payment may be less than what’s required for a new car loan. The monthly payments may also be less than a traditional loan.
Since many lease agreements have a set mileage for the car, if your driving time will exceed that limit, you will most likely incur an additional charge for the extra miles.
If you are unsure about whether to buy or lease, visit our dealership and speak with one of our sales representatives for more information. We’re here to help make your decision as easy as possible.
Image via Flickr by mariordo59
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