Buying vs Leasing a Car in Albuquerque

2022 Toyota RAV4 Hybrid front view parked in front of an aqueduct structure

The 5 Best Reasons to Lease a New Car from Sandia Toyota

Approximately 25% of people lease cars but it might be a smarter option for a much larger percentage of us. We’ll look at the top 5 reasons for leasing a new car or truck.

A word of caution: a lease could wind up costing you thousands more than if you had just purchased a car so make sure you’re leasing for the right reasons. like these top 5:

  1. You’d bottle “New Car Smell” as your Cologne or Perfume 
    Leases tend to be optimal for those who want a new car every 2-4 years.  There are many reasons for getting a new vehicle that often:  you want the latest safety features, you desire a lifestyle that allows you a new car every few years, or you anticipate life changes in the next couple of years (like having a baby) that will facilitate the decision to buy a new car.  Whatever the reason, if you’re confident that you’ll be getting a new vehicle in 2-4 years then leasing is a smart choice.

  2. Your Grandmother Drives as Much as You   
    Most leases cap your mileage somewhere between 12,000-15,000 miles per year.  If you drive that many miles or fewer than you’ll get the maximum benefit from your lease deal.  If you drive more than that or think it is likely you could, then don’t lease a new Toyota because the mileage penalties will make the lease a bad deal.  

    Prepaying for miles may be an option. ask your Albuquerque Toyota and Scion dealer for details and options.  Prepaid miles still add to the cost but are cheaper than paying for them on the back-end.

  3. You Avoid Taxes like the Plague
    In many cases, taxes on a leased car occur along with the monthly payments, not on the upfront cost.  This allows you to pay your taxes over time instead of in a lump sum.  This is especially good when your car use is primarily for business because it allows you to deduct more.  However, as with all tax-related advice, consult a local tax expert to advise you on the laws in your area.

  4. You Don’t Want a Car Payment that Forces You to Eat Ramen    
    In most cases, payments on a lease are less than when you buy a car. This is especially true when you lease for 24-48 months.  Once you start leasing for 5 or more years you’ll see payments that are higher than buying. Ask your dealership team member what your options are and pick the one that is best for you.
  5. You Have Two Left Hands 
    Have you heard the expression “two left feet” applied to people who can’t dance very well? Well, then those who aren’t adept at working on their Toyota car or truck have “two left hands”. If you’re not very good at working on cars or if you prefer to leave routine maintenance and repairs to the professionals, then leasing is likely a good option for you. All new Toyotas come with some kind of warranty like 60 months, 60,000 miles Powertrain Coverage.  If having a safe car is important to you then you’ll defiantly want to look at a lease.

There are certainly many more reasons why a lease may be optimal vs buying. Ask your sales associated for advice if you’re not sure.