Buying vs. Leasing

What’s the Difference?

When you’re ready for a new Toyota here in Morristown, TN, you’ll have a few options for how to complete your purchase. For most shoppers, it’s a decision between leasing or buying a new Toyota, and our financing experts are here near Knoxville and Sevierville to help you make the best decisions. Look through the advantages of both kinds of new Toyota financing, then visit Rusty Wallace Toyota from Newport or Greeneville, TN today to get started.

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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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(833) 606-3325

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5944 West Andrew Johnson Highway • Morristown, TN 37814

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Today's Hours:

Open Today! Sales: 9am-7:30pm

Open Today! Service: 7:30am-5pm

Open Today! Parts: 7:30am-5pm

Rusty Wallace Toyota 36.1800074, -83.3912937.