Which is Best: Buying vs Leasing | One Toyota of Oakland

 

Toyota One of Oakland breaks down the benefits of buying or leasing a vehicle!

If you're shopping the One Toyota of Oakland inventory for your next vehicle, it's important to know if you're leaning towards buying or leasing.  Depending on which option you choose, you'll have different pricing structures, as well as freedoms or limitations. At our Oakland dealership we make both processes straightforward and easy, and on this page we'll help you choose the right financing route for your needs.



Benefits of Buying

  • Buyers will pay more each month since they are paying for the entire vehicle, but after about five years they'll typically be free of a car payment!
  • When you buy a vehicle that means it's yours and you can do whatever you want to it. We always champion using Genuine Toyota Parts and Accessories, but when you own you can work with any company when you are looking to outfit your vehicle.
  • When you buy a car you have no mileage limitations. That means you can drive all around Hayward and beyond without a care in the world.
  • One of the benefits of buying a vehicle is that if you have kids you can pass the vehicle down to them once they turn sixteen or head off to college at Berkeley. You can also do a private sale of a vehicle you own, though we do want to remind you that our dealership buys back quality used Toyota models all the time, and it's less of a hassle than dealing with Craigslist requests.

Benefits of Leasing

  • It's no secret that living in San Francisco or the Bay Area has its high costs. When you lease a vehicle you only pay off a portion and have a lower monthly payment. That means you can still have a reliable vehicle to get to work in and still be able to live in a desirable location.
  • Think of leasing a vehicle as "short-term ownership". That's because leases last for three-years. If you're someone who gets bored easily and likes to have the latest and greatest, then you'll love leasing! It means you can stay up to date on aesthetics, and you won't get left behind when it comes to advances in convenience and safety tech.
  • Leasing does have mileage rules, and the restrictions are typically 12K miles per year. If you're a low-mileage driver, it probably makes sense to pay less for a lease and be within your yearly range than pay a lot of a new vehicle that you don't drive a lot.
  • Toyota models are known for their reliability, but service costs can still get people down. A benefit of leasing is that most of the services you need in the first three-years are basic and inexpensive. In fact, Toyota might cover many of them!
  • If you do end up loving your vehicle so much that you want to keep it, or your life changed and you ended up going over your mileage limits, it is possible to buy out your lease. Contact our sales team for more information on this easy process.

To Recap

  • Buyers pay more each month, but once the auto loan is paid off they won't have a car payment!
  • Buyers don't have a limitation on mileage and they can customize with any brand
  • Those who lease have a lower monthly payment
  • Leasing typically lasts for three-years and is a great way to stay up to date on features and looks
  • Leasing does have mileage restrictions, and it would not be appropriate for people who drive over 12K miles a year

We hope this helps you see which option is best for your needs. If you're still on the fence, come into our dealership and speak with our finance department. Depending on which vehicle you like they can run numbers for both buying and leasing! We look forward to working with you and helping you drive away in your next car, truck, SUV, or crossover!

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Contact

One Toyota of Oakland

8181 Oakport St.
Directions Oakland, CA 94621

  • Sales: 888-964-0576
  • Service: 888-964-0577
  • Parts: 888-964-0579

Sales Hours

  • Monday 7:00am - 8:00pm
  • Tuesday 7:00am - 8:00pm
  • Wednesday 7:00am - 8:00pm
  • Thursday 7:00am - 8:00pm
  • Friday 7:00am - 8:00pm
  • Saturday 7:00am - 8:00pm
  • Sunday 10:00am - 7:00pm
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