|Typically required to pay 10-20% down to take out a car loan||Initial Costs||Usually a lower down payment and less initial costs than buying|
|Loan payment usually higher than lease payments, paying total vehicle cost plus interest and other charges||Monthly Payments||Lease payments typically lower than loan payments, only paying for the difference between capitalized cost and residual value|
|Complete ownership, can make modifications and changes, may keep as long as desired or sell at any time||Ownership||Do not own the vehicle, cannot make modifications, required to return or purchase at the end of the lease term|
|Affects the owner in terms of depreciation and resale value||Future Value||Does not affect the lessee|
Now that you are aware of the advantages to both buying and leasing a new car, you might be interested to learn more about your financial options. Fortunately, we offer a wide array of online tools to assist vehicle shoppers in the Vacaville, CA area. These online resources include:
If you would like additional details about buying vs leasing or have other car shopping questions, please feel free to contact our team at Toyota Vacaville. We look forward to helping make your vehicle shopping experience as enjoyable and straightforward as possible!