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WHAT YOU NEED TO KNOW

BUYING VS LEASING CARS
IN HERMITAGE, PA

If you are searching for “cars for sale near me,” we have countless options for you to choose from. You can explore our competitive Toyota lease deals, look into our exceptional offers on a new Toyota, or peruse our used car lot in Hermitage, PA. Our team of Toyota experts is friendly and knowledgeable, and we want you to drive home feeling like you have received an amazing deal on a value-packed car.

When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. We hope you find it informative and useful. When you buy the new or used car you pay for the entire cost of the vehicle. When you lease the new or used car, you pay for only a portion of the vehicle’s cost, which is the part you use during the time you are driving it.

Toyota Lease Offers - Benefits of Leasing

When you lease a car, you get to enjoy all of the benefits of a brand new car without needing to pay for one. You essentially only pay for the amount of the car’s life that you use, and the best part is that those 2-3 years are almost always repair and breakdown-free. Your lease will come with roadside assistance, your car will still be under warranty, and the only thing you will have to pay for is regular maintenance like an oil change or something along those lines.

You will also get to drive a brand new car every couple of years when you engage with Toyota leasing, and that on its own can be a powerful motivator for many people. Toyota is pushing automotive design more than ever, so if you keep the same car for a long time, you’ll be missing out on everything Toyota has to offer.

Toyota Cars for Sale Near Me

If you are looking to invest in a car that you can own and drive for five, ten, or even fifteen plus years, Toyota is absolutely the right decision. Our vehicles are famously durable, and they carry a significant resale value. In short, they depreciate less rapidly than other cars, and their reputation for strong performance and quality engineering precedes them.

Even if you want to invest in a Toyota Tundra or Tacoma and used them as they were intended, you can still count on your truck to run for years down the road. Buying your car, in the long run, can save you money if you treat it well, and especially if you are able to get a decent interest rate or put down a substantial initial payment, it can be a sound financial decision.

Toyota Financial Services - Getting Started with a Loan

The first step to getting Toyota financing in Hermitage couldn’t possibly be easier; just fill out our simple online form. You will need to enter some banking and income information (so our algorithm can check your credit score), but rest assured that we will protect your data. You can complete this process from home, and if you have any questions, you can always reach out via the website or phone!

You are also welcome to apply whether you have a low or high credit score. Higher scores will often receive lower interest rates and more incentives, but we are happy to work with bad credit as well. Get in touch for details.

WHO OWNS IN A BUY vs LEASE?

BUYING

Whether you pay for the car with cash, or finance it and make monthly payments, either way it’s yours. Of course, if you’re financing it, you’ll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don’t, they have the right to repossess it.

LEASING

You do not own the car when you lease. You’re paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.

UP FRONT COSTS

BUYING

If you’re financing it, the bank will probably request a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender’s requirements and your credit score.

LEASING

Leases often do not require any type of a down payment. All you usually have to pay is the first month’s payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.

FUTURE VALUE

BUYING

Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)

LEASING

In most leases you don’t end up owning it so you don’t end up selling it. That’s the financial institution’s job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.

END OF PAYMENTS

BUYING

Once you’ve paid off what you owe on your contract, that’s it. Your vehicle is 100% yours. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours.

LEASING

Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we’ll make sure you have your lease set up the way you want it.

BEST CARS TO LEASE

BUYING

Sorry, this does not apply to buying a vehicle.

LEASING

The best cars to lease are those with the best book value after the term of the lease. Since they depreciate less, you pay less. Review the lease ratings to see which cars retain their value.