Would you lease directly from Toyota dealership?

amother

Mon, Mar 27 2023, 11:50 am

I’m looking into the new Toyota Corolla cross. Is it ok to go directly to Toyota dealership or would a frum dealer be a better option for reasons like being easier about damages etc. when I return.

And is it worth it to finance a car?

amother

NeonGreen

Mon, Mar 27 2023, 11:59 am

We lease directly from Toyota. They were the only ones that had something available (minivan) and the price was good.

Edited: we actually financed this time, not leased. Our last one we ended up buying off after the lease and selling for a profit.

Ask around for prices and see who gives you the best rate.

Amarante

Mon, Mar 27 2023, 12:56 pm

You should shop around and select the place that gives you the best deal after reading and understanding ALL of the fine print.

Not sure what you mean by local but you can generally purchase or lease from whomever you want. In my location if I wanted Toyota there would be at least five Toyota dealers that are reasonably proximate.

amother

Red

Mon, Mar 27 2023, 2:41 pm

amother OP wrote:

To answer your question, financing is more worth it than leasing.
Get a new car or one that's less than 2-3 years old.

amother

Natural

Mon, Mar 27 2023, 3:13 pm

amother OP wrote:

A close relative just got this car. Came out more worth it to finance it than to lease. Got it directly thru Toyota, it was cheaper thru them.
But it doesn't hurt to ask around and see if they're the best price now too

Amarante

Mon, Mar 27 2023, 3:16 pm

It is always better to buy a car rather than lease because most cars last for a relatively long time with proper maintenance.

When you have paid off the loan, you have no car payments for several years and can save the money. Eventually you will be able to buy a car with no payments at all which is the least exoensiv3 option because you can pay cash and negotiate a lower purchase price

amother

Tue, Mar 28 2023, 1:16 pm

Amarante wrote:

Do you know if I can finance a car without a down payment?

And how can I buy a car with no payments at all? If I trade in a used one?

amother

Tue, Mar 28 2023, 1:18 pm

amother NeonGreen wrote:

Which car did you get? Are all Toyota models reliable enough to invest in them?

I know the Toyota Corolla is supposedly the most reliable one, but I would need a bigger car and can’t decide between the rav4 and the Corolla cross.

amother

Tue, Mar 28 2023, 1:21 pm

Amarante wrote:

Oh, are you saying I can save the money I’d use for car payments and then use it to buy a car?

Amarante

Tue, Mar 28 2023, 1:28 pm

amother OP wrote:

Oh, are you saying I can save the money I’d use for car payments and then use it to buy a car?

What I am saying is that if you lease a car you own nothing at the end of the lease.

If you purchase a car even if you have to take out a loan, the loan payments are over after 4 years or so and then you own a car free of payments for however long the car lasts.

During the time you owe no payments, put that money in the bank and you will have a sizable amount to purchase your next car. Eventually you would be able to pay cash from you car fund.

It is always less expensive because if you don't need financing, you can then negotiate a lower purchase price generally.

amother

Red

Tue, Mar 28 2023, 1:53 pm

amother OP wrote:

Oh, are you saying I can save the money I’d use for car payments and then use it to buy a car?

Yes.
I did this.
My previous car was 15 years old that I bought used.
Put aside money every month for "car" category.
I paid cash for a brand new Toyota.

I would not buy used again, however I was not in the position to lay out the money when I got the old car, so I kept putting money away until I did. I paid so little for the used car at the time, so instead of paying a few hundred a month for a lease, I bought a cheap car for a few thousand and put a few hundred away in my car fund...

Amarante

Tue, Mar 28 2023, 1:59 pm

amother Red wrote:

I agree that this is the way to go but you don't have to be quite so extreme in terms of buying a 15 year old car.

You can purchase a newer used car that still has a lot of good life in it and make the payments on the car instead of just "renting" a car which is what a lease is. Don't forget that most leases also require some form of down payment which is used to calculate the lease payments.

You are also limited in terms of mileage and often penalized if car is not returned in pristine condition at the end of the lease.

When you purchase a car there should be a period of time in which there are no car payments - just save those and you will eventually be able to purchase a car for cash.

Amarante

Tue, Mar 28 2023, 2:00 pm

amother OP wrote:

Sounds good. Looks like I’ll finance then!

Which model should I invest in?

Check Edmunds.com for the best reliable car in the category you are looking for

Consumer Reports also has an issue specifically on new and on used cars. For used cars it has recommendations for specific years to buy because sometimes one year is better than another year even with the same model

amother

Tue, Mar 28 2023, 2:02 pm

Amarante wrote:

That’s interesting! I’ll check it out. Thanks!

Amarante

Tue, Mar 28 2023, 2:04 pm

amother OP wrote:

That’s interesting! I’ll check it out. Thanks!

You can either buy the specific issue for Consumer's Reports - look at it in the library or you can go to their website as I think you can purchase limited access to look at reviews and recommendations.