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New Car Lease vs Buy

Leasing vs Buying

Why Should You Lease a New Car?

If you like to drive newer, safer, more reliable vehicles, not commit to a sizable down payment every 3-4 years, and also do not travel an excessive amount annually, then a new car lease may be right for you. Leasing is intended for those who prefer to avert the annoyance of selling and buying each time they want to get into a new car or truck.

Why Buy a New Car?

Contrarily, if you want long term automotive relationships with a larger sense of ownership and commitment, then buying could be what’s better for you. Car-buying is typically best for shoppers who do not mind driving the same car or truck for more than five years or even until the vehicle is no longer suitable for the freeway.

Leasing vs Buying: Which One Is Right for You?

Being aware of the pros, cons, and overall benefits of leasing vs buying a car is important. Be sure to consider potential savings, vehicle ownership, monthly payments, and repair costs when weighing the pros and cons of the best new car financing type for you.

Leasing vs Buying: Ownership

When weighing the value of vehicle financing, new car, truck, or SUV ownership absolutely comes with many advantages, most associated with outright ownership of the vehicle. You may not be aware, but, there are also a few nice benefits of leasing, as well. It’s essential to consider all financial aspects including term length, down payment, monthly payments, buyout payments, interest rate, depreciation, and maintenance & repair costs, before making a decision. A meticulous audit of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the best choice between leasing and buying a new car, truck, or SUV.

leasing vs financing a new car benefits

Monthly Payments

Car or truck lease payments are often times less expensive when compared to auto loan and car financing payments as the normal lease layout is pretty much renting with the option to purchase at the final payment of your lease term. Keep in mind when leasing that you’ll need a good credit score, and will be asked to carry comprehensive and collision insurance, though the same can be said for the better rate auto loans. Though it may increase your monthly payments, it’s also wise to get a model with the features you want or need, as personal satisfaction is often priceless.

should i buy or lease a car

Maintenance & Repair

Auto leasing often includes regular vehicle maintenance & repair. It’s important to remember this when calculating monthly costs of leasing vs ownership. Regardless of which make and model you select, mechanic bills are an unknown cost that can rapidly add up. And for those who are not certified auto mechanics with a hydraulic jack and full toolset in the garage, leasing is likely the best option for peace of mind.

is leasing better than financing

Investment vs Savings

In general, a new car, truck, or SUV lease saves money in the short term with more affordable monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best savings on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximizing investment on a financed/purchased vehicle, you can pay it off quickly and also avoid excessive wear and mileage.


Lease Buy
Ownership No Ownership Pride of Ownership
Down Payment Smaller Down Payment Larger Down Payment
Monthly Payment Smaller Monthly Payments Larger Monthly Payments
Maintenance & Repair Costs Typically Included Not Included
Savings/Investment Short Term Savings Long Term Investment
Finance Term Approx. 2-4 Years Approx. 3-6 Years
APR % Credit-Based Credit-Based
New Vehicles Available Available
Pre-Owned Vehicles Not Available Available
Vehicle Customization Not Available Available
Poor Credit Financing Not Available Available

Toyota Lease and Finance Offers In Oklahoma City OK

Bob Howard Toyota knows that choosing the right Toyota car and financing option is never easy. Our team of experienced Toyota lease and finance specialists are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Oklahoma City, OK. We look forward to serving you.


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Cars Sep 25, 2022

Great experience when I purchased my 21 Tundra. Rudy was as thorough as could be and was pleasant to work with. Today I had my truck in for an oil change. My appointment was at 1:30 and I arrived at 12:45 . They got me in and I was on My way before my scheduled appointment time. Thanks to Zac Moser for his prompt, professional service.

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Cars Sep 24, 2022

Have bought 4 vehicles from Bob Howard Toyota and been pleased without the service after the sale. I would recommend buying from them. I believe them to be a good dealer ship.

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Cars Aug 28, 2022

Service Advisor John Munns, as usual, was courteous, pleasant, and professional. He is a definite asset to the dealership. I appreciate his consistently high level of customer service.

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Cars Aug 27, 2022

Clean and efficient. Jillian was very helpful. The vanilla latte was delicious. I wish you had cookies. I’ll be back next week to get my car fixed.

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Cars Aug 15, 2022

Highly recommend Bob Howard. I've bought several cars from them, 2 Acuras, 2 Toyotas and just recently, a used Mazda... If you're looking for a personable sales rep, ask for Jason Urbina. It's a tough time to get a good deal on a used car. I would highly recommend going to Bob Howard to check them out FIRST, before you go anywhere else. Our finance guy was great too. There was no BS - they were all busy selling cars and we told them what we needed and they had us in and out as quickly as they could. ...

Bob Howard Toyota 35.601269, -97.497009.