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Loan term
Down payment
Buying Leasing
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

Buying vs Leasing

woman driving new car decided whether to buy or lease
Vehicle shoppers have several crucial decisions to make during their car search. In addition to choosing between a new or used vehicle and determining which make and model best suits them, they must also decide whether to buy or lease the vehicle. Each option offers multiple advantages over the other, so shoppers can decide which one best fits into their lifestyle. Some notable differences are mentioned in the chart above, but here are a few more key benefits for both buying and leasing a new vehicle:


  • No mileage restrictions
  • Gaining equity in the vehicle to reach full ownership
  • Standard insurance costs


  • Take advantage of brand new car features every few years
  • Manufacturer's warranty typically outlasts lease term
  • No negative equity

Online financial resources for car shoppers in Vacaville, CA

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!

couple researching online car shopping resources