The closer you get to getting the right model, the more thought you should be putting into your financial plan. If you have more questions than answers when it comes to financing, you’re not alone. Working with folks near Worcester, Auburn, and Shrewsbury, MA, we’ve found that most people benefit from support and guidance when financing their car. So, we here at Harr Toyota want to lend a hand.
One of the most common topics we end up discussing is the differences between a lease and a finance plan to buy. So, here’s the rundown.
We’ll first talk about the leasing process. Essentially, leasing is a way for your to pick your favorite model, drive it for some period of time (typically a few years), return that model, and then begin driving your new favorite car. It’s a flexible, versatile process that gives you all the decision-making power.
If you’re enjoying your car throughout the course of the lease, you can decide to buy it outright once the lease finishes. On the flip side, you can also decide to return the car and begin leasing the newest version of the same model.
Leasing is your chance to exist on the cutting edge of the automotive industry, easily moving to the newest innovations and models whenever you prefer.
The alternative to leasing and a process most folks are familiar with is financing your vehicle to eventually own it outright. Now, there’s certainly flexibility in this process even if it’s not as much flexibility as leasing.
You can arrange your financing plan in many ways. Variables such as the length of your payment structure, the amount of the monthly payments, and the type of automotive loan you apply for are all worth discussing. You can speak with our experts directly to iron out these details if you believe buying a model within our online inventory is the right choice.
Most folks who want to own a vehicle for a long time prefer the buying process as the monthly payments will eventually end once the vehicle is paid in full. While the option to eventually sell or trade in this model is on the table, it’s not as quick of a swap as it would be when leasing.
There are benefits to both a lease agreement for your preferred model and a payment structure that ends with you buying the car. Which is the right call? It mostly comes down to you, your lifestyle, and what you prefer out of your vehicle.
Perhaps the easiest and most accurate question to ask yourself is, how long do I want to drive this car? If the answer is a few years before moving to a new model, then go for a lease. If the answer is indefinitely or as long as possible, then buying is your ideal choice.
Whether leasing or buying though, your financial plan can be arranged here at Harr Toyota. So, if you’re near Auburn, Shrewsbury, and Worcester, Massachusetts, reach out to us!
