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Should You Lease or Buy?

Buy vs. Lease Palo Alto CA

When it comes to gaining ownership of a brand new vehicle, there are two ways to go about it; buying and leasing. Both avenues provide plenty of positives and their fair share of negatives, so how can you tell which is right for you? Let’s break down the difference in this Buy vs. Lease in Palo Alto CA side by side discussion here at Magnussen’s Toyota of Palo Alto.

Before deciding on whether or not to move forward with buying or leasing a new vehicle, why don’t we look at the questions you should be asking yourself and see whether it is leasing or buying that lines up with your driving demands and financial needs?

  • Do you prefer a new vehicle every couple years or to own one for a long period of time?
  • Would you prefer lower monthly payments for a higher overall cost or higher monthly payments for a lower overall cost?
  • Are you willing to sacrifice building any sort of ownership value for a lower monthly payment?
  • Is your commute shorter than average, longer than average, or is it unpredictable?
  • Do you keep your vehicles in like-new condition all the time or are you more relaxed about spilled coffee on the seats and scratches on the paint?

Let’s take a more detailed look at how leasing and buying compare in terms of it being in your care and the information pertaining to it.

buy vs lease palo alto ca

Asking yourself questions like these can better determine which automotive purchasing route is right for you. If you find yourself putting a lot of miles in each year, maybe it makes more sense to simply own the car rather than just lease it. But if you aren’t driving very far each day and you love the idea of keeping your technology modern and fresh, the consideration of leasing a vehicle is ideal. For more information on the lease vs. buy subject, please contact our staff at Magnussen’s Toyota of Palo Alto.