Leasing vs. Buying | Why Leasing a Car Might Be Right for You

Feb 28, 2014

If you are in the market for a new vehicle but don’t know whether to buy or lease, let the experts at Markquart Toyota help you. Both options are good, but one may fit you better than the other.
When deciding whether to lease or buy a car, there are a few things to consider.

How many miles do you drive per year on average?
People who drive 20,000 miles or less per year are a better fit for leasing. Leases are given based on the amount of miles a customer drives in a year, which also affects your monthly lease payment. If you tend to drive more than 20,000 miles per year, purchasing a car would be a better option for you.
What kind of budget are you on?
If you are on a tight budget, leasing might be best for you. When leasing a new vehicle, your monthly payments are lower as you are not paying outright for the whole vehicle. Your monthly payments are configured by taking the original cost of the vehicle and deducting what the residual value of the vehicle would be at the end of your lease. That number is then divided by however many months long your lease is.
Do you want to get more vehicle for your money?
If you were to purchase a new car with a budget of $300/month, your choices of model and trim level would be limited because you are paying for the total cost of the vehicle. Whereas, with leasing with the same budget, you would have a wider range of options to choose from as you are not paying outright for the vehicle.

Leasing is also a great option if you want a new car every couple of years. When your lease ends, instead of buying the car you are currently driving, you can lease a new vehicle. So, when in the market for a new car, remember that leasing is an option, and it may be the best option for you. Stop in to Markquart Toyota near Eau Claire, WI to check out our great selection of Toyotas, and speak with one of our friendly sales members about buying or leasing a new Toyota today!