Should I Buy My Leased Vehicle?
When you want a new car, choosing a lease can be the best way to get it today at a price that fits your budget. You can make monthly payments to drive the new car you want while the dealership retains ownership of the vehicle, allowing you to have lower monthly payments. But when your lease expires, you have a choice. You can choose to buy the car at that time or return it to the dealership.
Here at Thornhill Toyota, we are helping drivers near Chapmanville, Harts, and Anchor, WV, see the benefits of why you should buy your leased vehicle. Continue reading to learn more.
When you go through the leasing process, you have a set of terms that you follow for driving the leased vehicle. If you choose to buy a vehicle, there are no limits to how much you can drive or the wear and tear that occurs on your vehicle.
After taking out a short-term lease to start driving the car you want from the beginning, you can create familiarity with the vehicle. It helps you to see what the vehicle can do and how it allows you to be successful on the road.
When you return a vehicle from a lease, the vehicle is checked for usage. Since the dealership still owns the vehicle, drivers can face additional penalty payments for going beyond the mileage in the lease or for excess wear and tear. This could be a reason to choose to purchase the vehicle and make it your own.
Additionally, if the vehicle is in superb condition and the value of the vehicle is higher than the buyout amount, you can actually get more value from making your purchase after a lease.
Buying a vehicle once your lease expires is no different than taking out an auto loan from the beginning. You can sit down with our team of finance experts and discuss your options and structure a deal based on your needs.
Our team will still help you by working with local lenders to create an auto loan based on the current value of the vehicle and answer any questions you have about the structure of your new deal.
You can also use the online resources we have to prepare, including the online payment calculator to determine what monthly payment amounts fit your budget. You can also get pre-approved for an auto loan by filling out the online finance application.
Here at Thornhill Toyota, we are proud to provide the option for drivers to experience a new car through a lease and then make their purchase after the lease expires. Now that you know the reasons you should buy your leased vehicle, come to see our team and get on the roads near Chapmanville, Harts, and Anchor, West Virginia.
Contact us today to learn more or visit us today.