Toyota Highlander Leasing vs Financing Lombard Toyota near Elgin, IL 60120
One of the hardest questions to answer when looking to upgrade your vehicle is whether to finance or lease. Both have their benefits, but both have their restrictions, too. Not to fret, though! Lombard Toyota is here to shed some light with our comparison on leasing vs financing a Lombard Toyota, Toyota Highlander near Elgin, IL 60120. Our knowledgeable salespeople and Business Managers are also well-equipped to answer any questions, so please don’t hesitate to give us a call, or visit our showroom!
Sometimes deciding between the two methods of car buying can be simple. Ask yourself two questions. The first is how often are you interested in upgrading? Leases tend to last between two to four years, which can be great if you like always having the latest and greatest tech and are a pro at keeping your car in good condition. While upgrading relatively frequently is possible while taking the finance route, it can be more tedious due to depreciation and reselling your current vehicle. If you’re the kind of person who comes to loves your ride and keeps it for longer than four years, stick to financing. You’ll get more bang for your buck. If you come to love your lease, though, you can continue to pay it off and keep your vehicle as long as you want!
What’s the second question you should ask yourself in this decision between leasing vs financing your Lombard Toyota, Toyota Highlander near Elgin, IL 60120? It’s a question that might require a calculator! How many miles do you drive per year? This will heavily affect your decision. If you commute a fair distance to work every day, exceeding 15,000 miles or more, leasing a vehicle will come with a heftier total cost. Financing allows you to drive as many miles as you want, whereas leases come with a set amount and every additional mile will cost extra money out of your wallet. If you take the train every day and use your vehicle primarily just for running errands, leasing is ideal. You only pay for depreciation while you use it, so the fewer miles your wheels roll, the less you have to pay. Dealers get the vehicle back and are usually able to certify these low mileage vehicles and re-sell them. It’s a win-win situation!
Weighing the pros and cons in the debate between leasing vs financing near Elgin, IL, can be frustrating. Come on down to Lombard Toyota near Elgin, IL 60120 and our staff is more than happy to talk it all out with you. We can even run some numbers and see which system will work best for you and your lifestyle! We hope to see you soon!
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Lombard Toyota Scion
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