Auto Financing vs. Leasing in Fox Lake, IL


When you’re ready to take home a new Toyota from our dealership in Fox Lake, IL, you have a couple different options to choose from. Financing and leasing are the most popular routes to take, but do you know which is right for your lifestyle and budget? Our finance vs. lease page will help you decide which is the best route to take.

Should you have any questions along the way, please don’t hesitate to call our team at (847) 497-9094.


Why You Should Buy

There are plenty of advantages to buying and financing a Toyota from our dealership in Fox Lake, IL:

  • Drive as many miles whenever you’d like.
  • Once you complete your monthly auto payments, you’ll own the vehicle outright.
  • Want to make your Toyota as unique as you are? Customize your financed vehicle as you please!

Why You Shouldn’t Buy

Of course, there are downsides to financing a vehicle, the most frequently cited listed here:

  • If you want to sell your car, you will have to take care of selling it off, which can prove to be a hassle.
  • Unless the vehicle is covered by a warranty, you will have to pay for all repairs out of pocket.
  • Should you choose to finance, you will likely need to pay a hefty down payment as well as any other fees up front.


Why You Should Lease

If you’re new to or are on the fence about leasing a Toyota, consider the following favorable reasons why leasing might be a good fit:

  • Because leases only last a few years, you can drive a new car more often.
  • Monthly lease payments are typically lower than an auto loan payment.
  • The future value of the vehicle doesn’t affect you financially.

Garber Fox Lake Toyota is also proud to offer No Money Down Leases!

Why You Shouldn’t Lease

As with financing, there are some downsides to leasing a vehicle.

  • You are restricted to driving a limited number of miles for the entirety of your lease. If you go over, you will have to pay extra for additional miles driven.
  • Excessive wear and tear that isn’t deemed “normal” may come at a high cost at the end of your lease.
  • Unless you want to pay an early-termination fee, you’ll have to hang on to your vehicle until the end of the lease.


Are you interested in buying or leasing a Toyota car, truck, or SUV from Fox Lake Toyota in Fox Lake, IL? Learn more by heading over to our Finance Center. We also have plenty of new vehicle specials and Toyota manufacturer offers to help you save on your next vehicle purchase. As always, feel free to contact our team by sending us a message online or by calling (847) 497-9094 for more information.