A Toyota Tundra Lease: Everything You Need To Know
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The Toyota Tundra is a pickup truck that has been on the market for a long time, standing against all competitors. It’s a powerful model capable of carrying practically anything. If you’re thinking about getting this vehicle, you might have looked into leasing as one of your options. Is a Toyota Tundra lease right for you?
Read on to learn more about the Toyota Tundra lease. Both good and bad things come with this financing option, and you should be aware of some of them before you make any commitments. A lease is a different buying option that many love, and it’s worthy of your consideration.
What is the Average Cost to Lease vs. Buy?
Leasing and buying are the two options you’ll receive when you go to invest in a car. With the Toyota Tundra lease, it’s vital to consider the cost of a lease versus the cost to buy per month so you can know you’re making the best choice possible.
According to carsdirect.com, the average cost to buy versus lease includes:
- To buy for three years: Around $700 a month
- To lease for three years: Around $450 a month
If you shift the make of your Tundra or make any additions to your contract, these prices will shift.
If you’re leasing for a period under four years, a Toyota Tundra lease will always be the more affordable option. You rarely have to make a down payment, and your monthly payments will be significantly less than if you were to buy the vehicle right away.
However, note that if you plan to keep the car for more than four years, you’ll hit a point where buying becomes a cheaper option. If you want to commit to a vehicle for a long time, leasing is likely not the best option for you.
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Pros and Cons of Leasing the Toyota Tundra
Several pros and cons come with the decision to lease a Toyota Tundra, rather than buying one. It’s critical to know about these so you can better understand the impact your choice will have on your life. There are some excellent reasons for leasing and some solid ones against it.
Below, we’ll dive into some of the most prominent pros and cons that come with a Toyota Tundra lease. Once you better understand these, you can make a confident decision on how you’ll pay for your brand-new car.
Pros of Leasing the Toyota Tundra
As mentioned above, several good things come with leasing the Toyota Tundra. We’ll dive into two of the ones that stood out the most so you can see the benefits of this selection.
According to wilmarinc.com, some of the best things about a Toyota Tundra lease include:
- Short commitment
- Prestigious driving
Each of these may appeal to a different driver on the road.
We’ll talk about both of these a little more in-depth to give you a better idea of what comes with each of these benefits. They sweeten the Toyota Tundra lease significantly.
Short Commitment
With a typical vehicle purchase, you need to make every moment last. You’ll have to hang onto the car until the last drop before you can invest in a new one. With a lease, you can get out of your deal sooner rather than later and hook yourself up with a newer model.
For people who love cars, this deal is amazing. You’ll pay less, and you’ll get to see what the world of vehicles offers. There’s so much to gain from a Toyota Tundra lease.
Prestigious Driving
A Toyota Tundra is a nice, big car that not everybody can afford. With a lease, you can drive far above your status in life. Even if you can’t afford to buy a Toyota Tundra, you can lease it. This statement applies to any other car you might look at for your life.
If you’ve always wanted to take a Toyota Tundra out for a spin but just couldn’t quite find the funds, now’s your chance. A lease opens doors for responsible drivers.
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Cons of Leasing the Toyota Tundra
We’ve gone over the good that comes with a Toyota Tundra lease, but what about the bad? There are a few cons you should be aware of before you head into a lease and commit to a few years of your time.
According to toyotaofnaperville.com, some of the cons that come with a Toyota Tundra lease include:
- Restrictions
- Lack of built value
These are critical to compare with the pros before leasing a Toyota Tundra.
As we did with the benefits above, we’re going to talk a little more about the negatives to give you a better idea of what they mean. Having insight into all aspects of a lease will help you in the end.
Restrictions
When you lease, there are a lot of restrictions that come with the commitment. You can’t alter the car, drive too far, or damage it too much. You’re more tied down because it’s not your car.
If you want freedom, leasing a vehicle may not be for you. Buying the car gives you more freedom to do what you want with the vehicle you love.
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Lack of Value Built
When you pay for your lease each month, you’re not building any value. In buying, the payments go toward making the car yours. When leasing, it’s like a long-term rent that goes toward nothing when you return the car at the end of your contracted time.
Of course, you can always invest in the vehicle at the end of your time. If you choose to do this, the value will exist within your payments.
Conclusion
Saving money comes naturally with a Toyota Tundra lease. You’ll also get to drive a car above your pay grade and deal with a short commitment. However, there are also many restrictions, and you won’t build value over time.
Consider the cost of leasing along with the pros and cons to make the best decision for your life. Leasing is a great option, but only you can decide if it’s the correct choice for your circumstances.
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