Here at Hall Toyota Virginia Beach, leasing continues to grow in popularity as a financing option for those looking for affordable ways to take home new Toyota models.
However, for the uninitiated, a Toyota lease may seem a bit confusing at first, which is why we’ve put together this FAQ for how leasing works here in Virginia Beach, VA.
Q: What’s the biggest difference between leasing and buying?
A: There are a lot of differences, but the most important thing to remember is that when you lease, it works like a rental. After the terms of your lease expire, you’ll need to return the car. With a purchase, you can eventually own it once the loan is paid off.
Q: Which option is more affordable?
A: It depends on your driving and personal preferences. Leases typically have lower monthly payments and lower maintenance/service costs, so month-to-month, leases are more affordable. That said, if you’re someone who can or wants to own a vehicle for nine or ten years, financing a loan means monthly payments will eventually stop, which can be a money saver, too.
Q: What are the limitations of leasing?
A: The biggest thing to consider is the mileage limits, which depend on the Toyota model and lease terms but can be important depending on how much you plan to drive. You don’t want to be stuck with overages because you used a leased vehicle more extensively than expected.
Leasing at Hall Toyota Virginia Beach
Of course, if you have any other questions, speak with one of our Virginia Beach Toyota sales associates at your earliest convenience to get the answers you need. Leasing is a great option for many buyers, and we’ll be happy to get you all set up for a Toyota lease the next time you’re ready to buy a new vehicle!
