Toyota Lease vs. Buying in Cocoa, FL serving Merritt Island, Melbourne, Palm Bay, and Titusville

Determining whether to lease or buy your new Toyota can be difficult, so we've put together some information at Mike Erdman Toyota in Merritt Island, FL ‐ serving Cocoa Beach, Melbourne, Palm Bay, and Titusville ‐ to help you make a well-informed decision. There are a few lifestyle habits that can help you determine which option will be best for you and your family. Keep reading the information below to see whether you should lease or buy from Mike Erdman Toyota.


If you like the idea of ownership, then we would recommend buying a new Toyota. Ownership gives you full control over your vehicle and driving habits. When you purchase a new Toyota, there are no limits on the number of miles you can drive every year. You can also choose to customize your Toyota vehicle with numerous special parts or added accessories. At the end of your payment plan, you'll also be given the title of your vehicle, making it yours to keep for as long as you'd like.


The most exciting part about leasing a new Toyota is the ability to constantly have the latest and greatest vehicle from the Toyota lineup. If you enjoy keeping up with current technology and trying new things, leasing is probably the option for you. Keep in mind that when leasing, there is no vehicle customization. But if you’re happy with the standard features and just need a reliable ride, you could walk away with lower payments and a lower down payment than if you purchased the vehicle. The other important consideration to keep in mind is how many miles you pack on in a year. If the numbers are low, you likely won’t have to worry about overage fees for driving more than the lease term allowed.

You can call to schedule a financial appointment and our experts can go over your options for purchasing or leasing a new Toyota.