Loan vs Lease

 

Auto Loan VS. Lease - Know the Difference

When it comes to automotive financing, Chuck Patterson Toyota has you covered! At our dealership, local drivers will find many outstanding deals on new Toyota cars, trucks, and SUVs. So, if you want to buy a new model or sign up for a Toyota lease near Oroville and Yuba City, then let our team assist you! To get you familiar with your financial options, we have outlined some of the differences between buying and leasing a new car below. That way, you can make an informed decision on your next auto loan or lease.


The Benefits of Buying and Leasing a Car


Buying a Car
  • Buying a new Toyota model will save you money in the long-term
  • As the owner, you have the flexibility to sell the car or trade it in at any point
  • You can drive and modify your purchased vehicle to your liking without incurred fees
Leasing a Car
  • Leasing a new Toyota model will save you money up-front due to lower monthly payments
  • You have access to the newest models because can update your lease every 2-3 years
  • Repairs and services tend to cost less thanks to extended factory warranties






The major takeaway to remember is the status of ownership. Car buyers who acquire a car loan in Chico will be designated the sole owner once their payments are complete, giving you greater freedom to do as you please with your vehicle. Meanwhile, lessees are subject to dealer requirements in exchange for other advantages like reduced sales taxes.


 

Contact Chuck Patterson Toyota for Assistance with Car Financing in Chico, CA.

Now that you know more about the difference between buying and leasing a car, we encourage you to get in touch with our financiers to discuss how you can apply for our new car leases or secure auto loans in Chico, California! We also suggest checking out our current incentives so you have a better idea as to the kinds of offers now available at our Toyota dealership near Paradise and Red Bluff! As you will see, we make it easy for friends and neighbors like you to get behind the wheel of a fantastic new car!


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