Benefits of Leasing

I. Lower Payments: since you are actually only financing a portion of the entire vehicle price, payments on a lease are usually much lower than on a purchase. This allows you to get more vehicle at a shorter term than if you would purchase.  Prefer that Camry XLE with navigation over the basic model but just can't fit it into your monthly budget?  With a lease your payments on that XLE might be the same or lower! 

II. No Negative Equity:  Since the "Residual" (amount the vehicle is estimated to be worth at the end of the term) is calculated in advance, you will never have to worry about current market conditions leaving you with negative equity.  Most people get the "itch" to trade out of their current vehicle after about three years; which happens to be the average lease term. On a purchase of 60-72 months, you are usually still "upside down" after three years and would have to roll the negative equity into the new loan.  On a lease, you simply turn it in without the worry of negative equity!

III.  Latest and Greatest:  Vehicles today are similar to cell phones and other technological gadgets.  Just when you get latest and greatest version...they come out with a better one.  Toyota technology evolves at a rapid pace and you know something new and better is always around the corner.  Why not get the most updated features every three years?  Instead of having to wait 5-6 years on a purchase contract.  

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