Buying vs Leasing a New Car

Now that you’ve taken care of the difficult part of deciding what type of vehicle to get, it’s time to figure out how you want to pay for the vehicle! Making these decision isn't always easy, but Toyota Palo Alto is here to help and make sure you are informed with all your possible options.

You have a few options when you come to get your new vehicle from the experts at Magnussen’s Toyota in Palo Alto because we understand that just like not every vehicle we have will be applicable to every driver’s automotive needs, there isn’t just one payment plan that will suit everyone. We will help you find the perfect vehicle and payment plan that works for your specific needs. Our expert financial team has extensive experience and we are confident that they will be able to find the plan and vehicle for you.

It is critical to understand how each payment method works and what exactly comes with each payment plan so you can know what to expect when the contract is up. If you are wondering buying vs leasing a new car will be best for your current family and financial statuses, the professional financial experts at Magnussen’s Toyota in Palo Alto are on hand to help you through it all.

Stop by and see us today or give us a call at any time! We’re always here for you, every step of the way.

If you are interested in buying a car at Magnussen’s Toyota in Palo Alto, you can rest assured you will always see our everyday low prices combined with occasionals, discounts and promotions.

The main difference between buying vs leasing a new car is that when you are done paying off your contract of a vehicle that you are financing, you get to keep the vehicle, whereas at the end of a leasing contract, you typically have to give the vehicle back. If you are looking for a vehicle that is  not necessarily in mint condition and is a little more affordable than your traditional brand-new car that has had no prior owners or drivers, you may be interested in financing a pre-owned vehicle from our extensive inventory. However, if you’d like, you can still finance a brand-new vehicle, too! Buying a car is fun because you can customize it how you want, you don’t have to worry about additional penalties for dings, dents and scratches (although, we don’t ever hope you get any of those!), and you can eventually re-sell the vehicle if you want.

When financing a vehicle at Magnussen’s Toyota, you can also trade in your current vehicle for money to put toward a new one from our inventory. To speak to a financial professional about financing options, such as rates, down payments, etc., give our representatives a call at (855) 429-2929.

Leasing a Car at Toyota Palo Alto

If having the latest and greatest things is important to you, then leasing a vehicle may be the way to go. We typically recommend leasing vehicles to drivers who aren’t necessarily needing a vehicle for more than a few years, or to those drivers who like the idea of getting a brand-new car every few years or so. With a lease, drivers make monthly payments to drive the vehicle, but they eventually have to give it back when the lease is up.
There are of course a few other details and minor differences, such as the payments for leasing a vehicle are typically less than financing. In addition, it’s also important to remember that technically the vehicle you are leasing isn’t yours, so there may be additional penalties if the vehicle is returned in a less-than favorable condition.

Either way you decide to go, we hope that you choose to check out our extensive inventory of vehicles at Magnussen’s Toyota in Palo Alto. We strive to provide drivers with whatever they need, within their price range. Don’t be a stranger, and if you have any questions at all, just stop by or give us a call!