Do you have questions about leasing a vehicle? We have answers! Leasing a vehicle can be a great option for you, and it doesn't have to be hard. Our finance experts at Toyota of Somerset are available to help take the mystery out of the leasing process. We help drivers from all around Lexington and London, KY get into their dream cars. Here, we answer some of the most common questions about leasing.
Q: What is the difference between buying and leasing?
A: When you buy a car, you own the vehicle! While that comes with some very good pros, like the freedom to customize or travel as much as you'd like, you are also responsible for all the maintenance or unexpected issues. Buying a car is great, but leasing can often be more affordable if you don't typically put many miles on a vehicle and you like getting something new every few years.
Q:Do I have to pay for maintenance?
A: It depends on your contract but, most times, a new vehicle is covered under the warranty. When you lease a car, you are typically only responsible for any excessive wear and tear.
Q: Can I customize my leased vehicle?
A: Usually, no. If you are offered customization packages by the dealership, keep in mind that you will only have the vehicle for a short time so make sure the cost is worth the extra investment.
Q: Is it better to lease for 36 or 48 months?
A: That depends on your personal needs! Usually, the longer the lease term, the smaller the monthly payments will be, and the monthly lease amount is usually lower than what you would pay on a traditional loan for a purchase.
Q:Which is better, buying or leasing?
A: It depends! Your personal driving habits, preferences, needs, and financial situation are factors that weigh into which option is better for you. When comparing side by side and taking into account a particular vehicle, different customers might come up with different results.
Do You Have More Questions?
Our finance experts have tons of experience with customers from all walks of life in the Danville, KY area. They can help you find the best option for you whether you want to lease or buy. Contact us today to review your options!
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