Buy or lease comparison
Not sure if you want to lease or purchase your next new Toyota? There is no right or wrong answer, it really depends on your lifestyle or personal preference. To help you make your decision, Southeast Toyota Finance listed the differences between leasing and financing in the chart below.
Mileage
Lease
If you drive less than 18,000 miles per year, you could save money on your monthly payment by leasing your new Toyota.
Drive more? You can still get a lease. Simply ask your sales associate for a higher mileage lease option.
Buy
There are no mileage restrictions when you buy a new Toyota. Long commutes, road trips, even family vacations are no problem.
However, the more miles you put on your vehicle, the more it depreciates in value when you go to trade it in or sell it.
Monthly Payment
Lease
You’ll most likely pay less per month.
When you lease, you only pay for your Toyota for the short amount of time you drive it. Which is usually 2 to 3 years.
Buy
You may pay a little more per month.
At the end of your contract, you will own your Toyota - so you pay for the entire cost. But once your term is complete, you could be payment free.
Technology, Safety & Performance
Lease
Every 2 to 3 years you can upgrade to a new Toyota with our best technology, safety and performance.
Buy
You’ll receive the latest technology, safety and performance at the time of your purchase.
Maintenance
Lease
Thanks to ToyotaCare, your vehicle will receive no cost scheduled maintenance for 2 years or 25,000 miles, whichever comes first, and 24-hour roadside assistance for 2 years, unlimited mileage.
.
.
Buy
With ToyotaCare, oil changes, tire rotations, and more are covered for the first 2 years or 25,000 miles, whichever comes first, plus 24-hour roadside assistance.
Warranty
Lease
There’s a good chance your Toyota will be covered under warranty for the entirety of your lease.
Our basic warranty coverage lasts 36 months or 36,000 miles, whichever occurs first. Plus, your vehicle will most likely be covered by Toyota's powertrain warranty throughout your lease.
Buy
Our basic warranty coverage lasts 36 months or 36,000 miles, whichever occurs first.
The powertrain warranty goes for 60 months or 60,000 miles, whichever occurs first.
Customization
Lease
Toyota approved accessories can be added. Most major modifications will need to be removed before turning in your vehicle at lease-end. You can discuss any questions about customization with your Toyota dealer.
Buy
It’s your Toyota; you can do what you want with it. Body kits, spoiler, and racer seats - it’s up to you.