Should You Buy Or Lease Your New Toyota?

Buying a new car or choosing any of those awesome lease deals is a big thing to decide. We, at Umansky Toyota, are here to help.

Adding a new vehicle to your life is a big step and we know the decision to buy or lease your next car can be daunting. The process of buying a new car is undoubtedly overwhelming considering the amount of time you spend selecting the make and model before signing the paperwork for your next set of wheels. While the idea of buying a vehicle sounds exciting, purchasing a new car, truck or SUV may not be a suitable choice for all. 

Does Umansky Toyota lease deals sound interesting? Here is some detailed information on leasing and a brief comparison between buy vs lease. Leasing, in contrast, is easier than you think. This option doesn't have a daunting auto loan or a hefty monthly payment involved. If you love the idea of saving on the upfront payment and want to drive a newest  Toyota model, then the Toyota car lease option is certainly for you.

Buying and Leasing are two entirely unique approaches to obtaining your new Toyota and you should be analyzing a multitude of factors before making your choice. 
The Vehicle Is Yours - When you pay off the automotive loan, you can keep your ride indefinitelyNew Vehicles Every Few Years - When the lease agreement is complete you can get a new vehicle without the trade-in hassles
No Mileage Limitations - You can put as many miles on your vehicle as you wishMileage Limits - You will be limited to how many miles you can travel each year
Vehicle Maintenance Responsibility - If your vehicle needs service, the cost for maintaining and service it is on youVehicle Maintenance is Covered - In most lease agreements, the vehicle's maintenance and service is on us
Need A New Ride? - You'll have to sell or trade-in your old one and buy a new oneTime For A New Toyota? - When your lease is up, you can get a new vehicle the same day, hassle-free

How long do you typically hold on to a vehicle?
Think about this question in terms of years. Is the range usually 1-3 years? 4-5 years? 6 or more years? Look at your ownership history and consider your next step regarding changes in finances and your personal situation before moving forward.  Some vehicles are pleasure weekend cruisers; others you may use to pick the kids up from school or commute to work, and so on. These functional options tend to rack up the most miles. Think about where your new Umansky Toyota fits in the big picture. How many miles a year do you usually rack up? By estimation, how many miles a year do you typically drive?
  • Less than 15,000
  • 16-30,000
  • More than 30,000
Think about how you'll be utilizing your vehicle in the future - will your commute be the same in five years as it is now? Throughout our lives, where, when and how we drive is constantly evolving. Families grow and change, or we may even be adding additional drivers to the registration. All of this must be taken into consideration when deciding between leasing or buying your Umansky Toyota, so take stock before you execute your plan. In general, which method do you use when upgrading to a new car?
  • Trade in my existing vehicle for a new one.
  • Sell my existing vehicle before I buy a new one.
  • Keep my vehicle once I have paid it off.
Financially speaking, we all have different preferences and reasons for updating our vehicles. Are you leaning more towards frequently advancing to the latest model, or are you more into building your own automobile collection? Perhaps you have a family member ready to take the wheel and they need their first car. Indeed, you may have even grown fond of your current vehicle and have the financial means to add to your automotive family. Whatever your situation, plan accordingly. How did you acquire your existing vehicle?
  • Lease
  • Finance
  • Cash
If you aren't entirely happy with how your current payment method or plan worked out, maybe it's time to make a change. On the other hand, you may be perfectly happy with how things have been going. Make this analysis before completing your Toyota lease deal. When you bring your new Toyota home, what changes might you make? If you've decided to lease your Umansky Toyota, it will most likely need to remain in factory condition. One reason you may want to elect to buy is that you plan to make slight modifications or even completely customize your vehicle. If you choose to do this, you may violate the terms of your lease agreement. Speak with your dealer to ensure that you know exactly what you're signing up for. How important is maintaining your vehicle's warranty? If you have owned vehicles in the past or currently have a vehicle warranty, do you typically:
  • Replace your vehicle before its factory warranty expires.
  • Have a full inspection done on your vehicle before its factory warranty expires.
  • Ignore if your car is under warranty or not. 
How you handle your warranty and its restrictions can greatly affect the re-sale or trade-in value, and even if you qualify for new leases. How do you plan to service your vehicle? Your Toyota is a finely-tuned machine, and ideally you will be able to frequent an authorized manufacturer or dealer service center. Depending on the terms of your lease, if your vehicle is worked on by anyone other than an ASE Certified Toyota technician, you may be voiding your contract. Whether you perform the maintenance yourself or take it into your local service center, when leasing you must review the terms carefully to confirm any allowances. Ensuring that you adhere to the stipulations of that contract dictates if you can continue to lease, or if you might consider becoming a full-on buyer. Take a moment to look at our Umansky Toyota Finance page to answer any further questions you may have regarding the specifics of your choice. Make sure you consider each option carefully.  So, shop us online or stop by our showroom and let our sales and leasing experts assist you in making an informed decision on whether to purchase or lease your new ultimate driving machine from Umanski Toyota.