Toyota Knoxville

Lease vs. Buy - What's the Difference?

QUICK FACTS ABOUT LEASING:

Leasing finances the USE of a vehicle.

When you lease you pay for only a portion of the vehicle's cost?the value of the vehicle that is "used up" during the time you're driving it.

Leasing normally involves these fees:

Down Payment (when applicable), Sales Tax on monthly payments, Money Rate (similar to an interest rate). In some cases you might also pay extra fees & a security deposit.

First Payment:

Normally, your first payment is due upon signing your contract.

QUICK FACTS ABOUT BUYING:

Buying finances the COST of a vehicle.

When you purchase your new Toyota you pay for the entire cost of the vehicle, plus any finance charges & fees.

Buying normally involves these fees:

Down Payment (when applicable), Sales Tax (based on purchase price of your vehicle), Interest Rate on your loan.

First Payment:

Normally, your first payment is due one month after signing your contract.