There are few things more exciting than the day you finally get the new vehicle you've always wanted, but there is more than one avenue you can take on the path to getting that vehicle. When shopping for your new vehicle at Toyota of Katy, you get to choose between either leasing or buying that vehicle. When it comes to deciding whether to lease or purchase a new ride, there's no better place to turn for the latest and most detailed information than right here at Toyota of Katy. We'll help you figure out which option is the best fit for you.
Unless you've happened upon a bag full of cash, chances are you're not going to be able to purchase a vehicle outright. That means you'll have to decide on the best way to finance the new Toyota vehicle that you've decided upon. This is where the decision between either leasing or buying comes into play, but how can you tell which one is right for you? Toyota of Katy has put together a detailed breakdown of each of these options, making it easier for our customers in Cypress, Katy, and all of the surrounding areas to make this decision.
Lease
Buy
Ownership
You are renting the vehicle until the end of the lease. It can then be bought for the remaining cost.
You own the vehicle outright and are free to do with it what you will.
Monthly Payments
Payments are lower as you only pay for the depreciation of the vehicle.
Payments are higher because you are paying for the entire cost of the vehicle.
Vehicle Return
Returns can only be made at the end of the lease.
You are solely responsible for selling or trading in the vehicle.
Mileage
Limited to a certain number of miles within the lease term. Additional fees for going over the limit.
You can drive as many miles as you'd like without penalty.
End of Term
You must either return the vehicle or pay the remaining cost to own it.
You no longer have monthly payments and you are the owner of the vehicle.
Modifications
Vehicle must be returned in like-new condition. Any modifications must be removed and may result in additional fees.
You are free to modify the vehicle as you see fit.
When purchasing a new vehicle, it's important to consider all of the options available to you. The sales professionals at Toyota of Katy are here to answer all of your questions, and we'll take the time to go over the pros and cons of each option in order to help you make the right decision. The next best thing to purchasing a new Toyota is making that purchase knowing that you did so using the option that makes the most sense financially, and the experts at Toyota of Katy are here to help make sure that happens.
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