How to Decide Between Leasing or Buying a Toyota Camry

When you’re searching for a popular sedan, the 2019 Toyota Camry has a lot to offer. From great fuel economy to impressive interior features, the Camry provides a great driving experience. The only decision you must make is whether you want to buy or lease the vehicle.

There are a few ways to make the decision.

Explore the Monthly Payment

If you are on a tight budget, you may want to consider letting the monthly payment decide for you. There may be various incentives going on with the 2019 Toyota Camry at the time that will make one option more affordable than the other. In many instances, it is cheaper to lease because you only have the vehicle for a set number of months. With purchasing, it’s yours to keep once you’re done making all the payments.

Decide on Top Features

The moment you drive your new Camry off the lot, you deal with depreciation. It happens with all the new cars. If you’re planning to buy your Camry, it’s something to keep in mind if you like to get new cars frequently. You will have to keep your Camry for several years to ensure that you get the value that you want out of it. Otherwise, you’re likely going to add negative equity to the next new car that you get.

When you lease, however, you choose terms that work for you. Most lease terms are either 36 or 48-month leases. This means that, at the end of the term, you turn your Camry back into the dealership. You owe nothing, so you can turn around and get the very latest Camry which allows you to tap into all the latest and greatest features for safety and convenience.

Consider Driving Distances

How much you drive regularly must be factored in when looking at whether you should buy or lease a 2019 Toyota Camry. The more you drive, the more it may make more financial sense to choose a purchase.

With a lease, you must choose the number of miles per year. 12,000 miles per year is standard, though there are options for slightly more miles. If you go over your terms, you would have to pay a certain amount per mile that you’re over – and that can add up substantially throughout a 36-month lease. With a purchase, the mileage doesn’t matter because it’s your car to do as you please.

Once you decide that the Toyota Camry is the sedan for you, it’s worth considering whether buying or leasing makes sense for you. Ask for monthly payments on both so that you can make a better decision.