The Benefits of Buying vs Leasing at Bill Kidd's Timonium Toyota

What to Know About Getting a Loan or Lease

When financing a vehicle, Towson and Reisterstown residents can either choose to get a loan or lease. But which option is better? This all depends on the individual customer, but for clarification, we'll be breaking down the benefits of each, so you can decide which option is right for you.

The Benefits of Buying

If you're a local Cockeysville or Owings Mills local and wish to own a vehicle free and clear, getting a loan is the best option. Be aware that loans have larger monthly payments when compared to leases, but by paying a loan back on time, they have the added benefit of raising your credit score. And when you own the vehicle, you can sell it to make some money or trade it to a dealership to reduce the price of another vehicle you want.

The Benefits of Leasing

Leasing is a great option for any Bel Air, MD driver who's not quite ready to commit to owning a vehicle, as a typical lease only lasts about two or three years. While you won't own the vehicle you're leasing and have restrictions on the miles you can drive, most of your maintenance costs will be covered. Plus, you can upgrade to a new model, extend the lease, or buy the vehicle outright when the lease ends.

Purchase a Loan or Lease

When it comes to loans and leases, Baltimore drivers will find there are many benefits to both. And whether you want to own your next vehicle or drive it temporarily, our finance team can help you find a financial plan that works for you. If you still have questions about getting a loan or lease, contact our dealership any time, as our team is here to help.