Shall I lease or buy my next vehicle? That is the question.
In this day and age, you can lease just about anything. Leasing is the ultimate “try before you buy and/or no commitment way of enjoying life’s pleasures without getting too attached. You can even lease friends these days! (Source: http://www.rentafriend.com) Unreal!
Yet there are some things that go beyond the temporary enjoyment of having something in your own possession. Sometimes you may bond with something or perhaps that something becomes obsolete and have a hard time letting go. For example, the Scion brand. (Or specifically in this author’s case, the Scion XB)
Regardless of where you stand, the ultimate question remains. Do you buy or do you lease? This is more than miles, commitment and cost. It’s a combination of those things, who you are and where you’re going. For the sake of this article, let’s consider Toyota leasing and buying based on this author’s experience.
1.) If you BUY or LEASE, especially through Toyota, you automatically get ToyotaCare. This includes 2 years or 25,000 miles of maintenance (oil changes, tire rotations, 37 point inspections) and 2 years of Roadside Assistance. The average maintenance visit could cost an estimated $50.00 on up, depending on your vehicle and where you live, before any applicable tax. So far, you’re saving on maintenance in your first two years. Not to mention you have Toyota Warranties which is 3 years/36,000 miles for Basic Warranty and 5 years/60,000 miles for Powertrain Warranty. Once again, you’re winning! :)
1.A.) If you’re leasing and adhere to the usual 3 years / 36,000 mile (lease terms may vary) you have options at the end of your lease. Do you upgrade to a new model? Do you buy or lease another model? Do you buy your current model? Or, are you OK with walking/biking/jogging everywhere? Some may forget that last option is a real one. :) With leasing, there is a possibility of a lower monthly payment, no commitment after all is said and done and a chance to drive something new. (Remember though, the vehicle has to be kept in great condition with minimal general wear and tear.) If you continue doing business with Toyota, the ToyotaCare cycle begins anew with a new lease or buy.
1.B.) If you’re planning to buy. Buying is a great option for a lot of reasons. One, the vehicle is yours. For some of you truck folks who like to haul stuff, pull stuff, push stuff and drive through stuff, this is option works well. You can define “Wear and tear” after you purchase the vehicle. Like anything else, when you buy it, it’s yours. Maintenance will cost at this point, however, if you purchased new, you know who the original owner is and how well taken care of the vehicle was. A new vehicle can last you a very long time if maintained properly. At Labadie Toyota, we’ve seen customers bring vehicles with 200,000 miles or more on them. Granted the vehicle needs were met along the way. (Tune-ups, brakes, tires, fluid flushes, etc). Like anything else, if you take care of it, it will take care of you. The buying option also gives you freedom to run the wheels off the vehicle and rack up the miles. It is your vehicle. So if you like to make a round trip from Boston to Los Angeles every week, have at it! :)
Both buying and leasing a vehicle has it’s advantages. Many places may try to sway you one way or another. As this author writes, I’ve experienced both. I’ve leased two Scion (Former Toyota brand) vehicles and purchased the second one because I loved the vehicle. The Scion XB was no longer in production and the brand was being phased out, therefore I made my purchase. During my lease experience both times, I took the vehicle on a few 600 mile long weekend trips and to work five days a week an estimate 40 miles a day. I tell you this, because many people may state that millage limitations with a lease is the issue. If you honestly calculate your estimated millage a year (unless your a traveling business person) you may not even see 10,000 miles a year.
In conclusion, the answer is simply this: do your homework. What works best for you may not work best for your neighbor. It can be a great feeling to drive something new every couple of years, just as much as it feels to have gone thousands a miles on adventures with a vehicle you call your own. There is no better option than the best option that works for you.
For more information on Leasing or Buying a brand new Toyota vehicle, call Labadie Toyota at 989-684-2222 or check us out online at: http://www.labadietoyota.com. We also have pre-owned vehicles which are inspected, tested, reconditioned and ready for the road in all makes and models. We’re here to help you go places! :)
Why shop and purchase at Labadie Toyota? We have a friendly and knowledgeable staff throughout the dealership and various ways to stay in contact with us as well! After your vehicle purchase, we’re not through with assisting you. If you have questions, need service or simply looking for something different to drive, contact us. Call, Text, Email and Facebook Message us! It’s all a part of the Modern Dealership Experience. We’re here to help you go places! :)
Pothole season. It’s practically here. And the war against potholes is never ending. Just when one is patched, another crops up. Here’s a few things random things about these crumbling concrete holes of horror.
1.) There is a pothole website for all your pothole inquiries. Stats and statistics on potholes galore. For example, did you know that Michigan doesn’t have a city on their list of percentage of roads that ranked “poor”? Scary! But true. See for yourself. www.pothole.info/the-facts/
2.) Potholes are formed by the elements. Water, heat, time and wear & tear. Ice moves rock (asphalt), bigger vehicles may tear up loose asphalt over time, heat expands cracks, etc etc. The list of possibilities is endless. For those of us with four seasons or an excessive amount of traffic (looking at you Los Angeles, CA), potholes are common.
5.) A filled pothole may be a good pothole but a freshly filled pothole can make a mess! Should you drive over a freshly filled pothole, its best to consider getting your vehicle rinsed off at the least. Pothole filling (mostly asphalt rock and tar) can get into your tire wells and suspension components and make a mess. Addressing it sooner than later can make for an easier to clear vehicle. Plus it doesn’t look like you just drove through a fresh pothole. – Back to AAA’s original suggestion, avoid if possible.
So we’ve covered a few things in regards to potholes. What they are, what you should do if you come in contact with one and ultimately why you should avoid them. There are plenty of resources and statistics online in regards to potholes. If you hit one, call us and we’d be glad to inspect the underside of your vehicle for any potential damage. If you hit a freshly filled pothole, call us and we’ll schedule you for a detail service.
The key components to surviving pothole season is this; drive safe, watch the road, take your time and avoid potholes/large puddles if possible.
Tax season is here. (Sorry for the reminder) However, for those about to get a hefty refund, here’s 5 reasons why you need a new or used vehicle. Well,…5 reasons to consider. :)
1.) Lots of great options available on the pre-owned vehicle lot.
– Vehicle rates have been so low that folks have been buying (or leasing), driving for about a year or so and trading in for something new. Which means great vehicles, some with low miles and light wear and tear, for great prices. Makes you think twice about ol’ smoky sitting in the driveway.
2.) Labadie Toyota inspects, test drives and details every traded in vehicle before it hits the pre-owned lot.
– Why buy something questionable on the side of the road, when you can purchase a pre-owned vehicle with a known history(we pull carfax reports)? Our vehicles have been thoroughly inspected, fixed if necessary and cleaned to excellent condition.
3.) You owe it to yourself to drive something new/different.
-Sure, you may own ol’ smoky out in the driveway, however, it may also be on borrowed time. Consider what you may have spent in repairs within the last year or so. Is it worth to keep repairing or get something new? Example: $1,500 – $3,000 in repairs could be a nice down payment on reliable vehicle.
4.) Newer vehicles are getting better and better.
-Newer model vehicles (whether new or pre-owned) can get better fuel economy, and much more overall millage with proper care. Plus, they may have more safety features than just the lap belt present in your current vehicle.
5.) A trade-in could be well worth your while.
-If ol’ smoky isn’t as clunky and wore out as we may think it is, then it might add some punch to your upfront down payment (as well as that hefty tax refund we mentioned earlier.) Some vehicles have better trade prices as well. Consideration for a trade-in cover a variety of aspects from makes, models, condition, history and the like. (See a Labadie Toyota sales professional for details on this). So, while you may be on the fence about whether or not you can afford a new or pre-owned vehicle, consider a trade-in as well. You never know what you could get for your current vehicle.
At Labadie Toyota, we want to always encourage our customers to make the most sound decision when it comes to purchasing a vehicle. True sales professionals will work with you every step of the way from the beginning and beyond. We consider your budget, time and ultimately what you’re looking to get out of your new or pre-owned vehicle. There’s something for just about everyone. If there are any questions along the way or even after the sale, you can be sure that someone here at Labadie Toyota will help you in the right direction. Our goal is not just about selling cars, it’s about helping you, go places.
In 2016, Toyota achieved another record year of North American vehicle production with 2,124,608 vehicles built at its North American plants. Production volume was up 4.4 percent over the previous year total of 2,035,028 vehicles.
Key drivers of the increase include low fuel prices, continued stability in the overall economy and strong customer demand for trucks and SUVs.
That makes more than 30 million vehicles produced in North America since 1986.
Toyota also marked milestone anniversaries in 2016 at the following manufacturing facilities:
Cambridge, Ontario 30 years
Georgetown, Kentucky 30 years
Princeton, Indiana 20 years
Buffalo, West Virginia 20 years
Huntsville, Alabama 15 years
And the company also broke ground for its 15th state-of-the-art manufacturing facility in Apaseo el Grande, Guanajuato in November. TMMGT is scheduled to begin Corolla production in 2019.
Toyota produces 13 models in North America including: Avalon, Camry, Corolla, Highlander, RAV4, Sequoia, Sienna, Tacoma, Tundra, Lexus RX 350, Lexus ES 350, and Yaris and Yaris iA and directly employs more than 44,000 team members.
Toyota Motor North America CEO Jim Lentz couldn’t be prouder: “Our success is driven by the talent and dedication of the men and women who manufacture our products here in the U.S. Every part and every vehicle that rolls off the line reflects our commitment to safety, quality, value, and, above all, our passion for exceeding customer expectations.”