Usually required to pay 10-20% down when taking out a car loan

Typically a lower down payment and less  up-front costs than buying

Loan payments typically higher than lease payments, paying for the entire vehicle plus interest and other charges

Lease payments usually lower than loan payments, only paying the difference between capitalized cost and residual value

Complete ownership, free to make modifications and keep as long as desired

Do not own vehicle, cannot make changes, must return or purchase at the end of lease term

Affects driver in terms of resale value

Does not affect driver

Online buying and leasing tools for car shoppers in West Columbia, SC

In addition to deciding between buying and leasing a new vehicle, car shoppers have a number of other choices to make. To help customers through the decision-making process, our team at Fred Anderson Toyota of Columbia offers a wide array of online car shopping resources. These include: 
  • New and used car inventory
  • Model comparisons
  • Credit pre-approval form
  • Trade-in value calculator
  • Car payment calculator
If you have any questions about buying or leasing or are interested in learning more about your vehicle options, feel free to get in touch with us at Fred Anderson Toyota of Columbia.