Have you evaluated leasing versus buying for your next vehicle? If you’ve done your research and know the vehicle you want, then it’s time to ask yourself how you’re going to purchase it— Lease or Finance?
There is no “right” answer. This is a question that only YOU can answer as the decision comes down to lifestyle and personal preference.
Let’s explore the details of each:
Drive anywhere and everywhere! When you finance you are not held to kilometer limitations. You will not have to worry about being penalized for putting excessive kilometers on your vehicle.
You are the sole owner of your new vehicle. You have the freedom to treat it and customize it however you choose!
Finite Payment Period
Your payments have an end date. After you’ve paid off the cost of your new vehicle you can say goodbye to that monthly bill.
You can sell or trade your vehicle at any point. Even if you still have a balance on the loan, there will be no penalties or fees to pay, and you can use the cash from your vehicle as you please. Plus Toyotas are ranked the among highest for vehicle value retention. Six Toyota vehicles were granted a Canadian Black Book Award, given to vehicles that best hold their value when it’s time for a trade-in or sell.
Lower Monthly Payments
Purchasing your next car becomes a more manageable expense as you’re only paying for a portion of the car. This portion is called the residual value or the vehicle’s current value minus the expected value when you return your lease.
Lease terms run for as short as 36 months and as long as 60 months. You can adapt your vehicle to your changing life as needed. Buy a sedan now to commute to and from work then when your lease is up, switch to a SUV to support your growing family.
When you lease, you have the option to add Heninger Toyota’s Wear Pass. Excessive damages your vehicle might receive over your term are waived when you hand over the keys at the end of your lease. No need to worry about rogue shopping carts in the parking lot, tire wear, coffee spills, or small kilometer overages…all of the associated fees are waived when you return your lease.
Always drive the latest model with a lease. Once your term ends you have the option to get into a new lease with a brand new vehicle.
We don’t hold you to a one size fits all lease agreement. At Heninger, we work with you to build a lease agreement that fits your lifestyle regarding kilometer allowances, terms, buyout options and end of lease options.
Small business Tax Advantage
For business owners, leasing may allow you to claim part of the value of your car each year on your taxes.
Have you made up your mind? It’s okay if you’re still unsure. At Heninger Toyota our team of finance experts have helped countless customers make purchase decisions that are best for them. Sometimes it just takes a person asking the right questions to feel confident in our choices.
Schedule a time to meet or talk with one of our financial experts by calling 587-807-6967.
Want to get started purchasing your next vehicle? Begin the credit application process right on our website, all it takes is 60 seconds and our team will get started right away!