Buying vs. Leasing

What’s the Difference?

If you’re like most folks in Knoxville or Sevierville shopping for a new vehicle, then there’s a good chance that you’re working on a budget. This means you probably won’t be paying for your new car up front. Instead, most people who shop here at Rusty Wallace Toyota will choose to finance or lease their new vehicle.

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Benefits of Buying

Many people who come to our dealership from Morristown and the surrounding areas want to finance their vehicle. There are a variety of different advantages, including: 

  • Ownership – Each monthly payment you make on a financed vehicle is helping you build equity. By the time you finish paying off the vehicle – usually 36, 48, or 60 months – you’ll own the car outright.
  • Customization – When you own your car, you can do what you want with it. Add a custom paint job, put in a custom stereo system, or install performance-enhancing equipment. You won’t be penalized for making it your own.
2018 Toyota RAV4 Adventure AWD and Platinum AWD

 

Benefits of Leasing

The other option is to lease a vehicle. With this option, you borrow the car for a period of time and have the option to purchase it or return it when the lease term is up. There are also a variety of different advantages to leasing as well:

  • Affordability – In general, vehicle leases come with lower down payments and lower monthly payments. This means that you can afford to drive a nicer vehicle for less, while keeping more money in your account every month.
  • Newest Features – Leases usually come with shorter terms than financing plans, usually 24 or 36 months. This means that as soon as your lease is done, you can bring it in and get a new lease on a vehicle with the latest technology, performance, and design features installed.
2018 Toyota Corolla exterior

Explore Your Finance Options at Rusty Wallace Toyota

Which is the better option for your next car? Visit Rusty Wallace Toyota to take a test drive and chat with our finance staff about the differences between financing and leasing. Contact us to learn more or visit our showroom in Morristown.

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(423) 714-1531

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5944 West Andrew Johnson Highway • Morristown, TN 37814

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Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 7:30am-5pm

Open Today! Parts: 7:30am-5pm

Rusty Wallace Toyota

5944 West Andrew Johnson Highway Morristown, TN

Phone: (423) 714-1531

http://maps.google.com/?q=5944%20West%20Andrew%20Johnson%20Highway%2C%20Morristown%2C%20TN%2037

Parts

Phone: (423) 200-5471

5944 West Andrew Johnson Highway Morristown, TN

Sales

Phone: (423) 714-1531

5944 West Andrew Johnson Highway Morristown, TN

Service

Phone: (423) 200-5471

5944 West Andrew Johnson Highway Morristown, TN
36.1800074 -83.3912937
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Rusty Wallace Toyota
Rusty Wallace Toyota
5944 West Andrew Johnson Highway
Morristown, TN, 37814 United States
(423) 714-1531
https://di-uploads-development.s3.amazonaws.com/rustywallacetoyota/uploads/2017/07/RustyWallaceToyotaOGImage-1.jpg
Rusty Wallace Toyota 36.1800074, -83.3912937.
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