After finding the perfect Toyota vehicle, the next step for customers in and around Virginia Beach, VA is to decide the best way to go about paying for that vehicle.
Our Toyota finance department works with one of two financing options for Toyota vehicles: leasing or taking out a loan, and both certainly offer their own benefits. Let’s have a look at each.
Taking Out a Loan
The Pros
- Payments do eventually end, and at the end of the loan, you actually own the vehicle.
- No mileage limits means you can drive the vehicle as much as you’d like.
- You can customize or change the vehicle however you see fit.
The Cons
- Monthly payments are typically higher than a lease.
- It’s not always as easy to upgrade to a new car early without financial penalties.
Signing a Lease
The Pros
- In many cases, the upfront costs tend to be lower for leases.
- Leased vehicles come with a solid maintenance contract that lowers the costs of upkeep.
- You can swap out your vehicle for a new one every few years without the penalties of going upside-down on an auto loan.
The Cons
- Drivers are responsible for keeping the vehicle in good shape and can be charged for excessive wear and tear.
- Mileage limits may not be ideal for certain types of commuters.
Financing at Hall Toyota Virginia Beach
Whichever option you may prefer, please know that Virginia Beach Toyota customers have access to the knowledgeable staff here at Hall Toyota Virginia Beach that is ready and willing to help buyers find the best financing possible. Whether you lease or finance, we’ll find the perfect fit for you!
