Buying your next vehicle isn't always an easy process. Even after reviewing various car-buying tips, you may still have one fundamental question — should you lease or buy your next new vehicle? To help you decide, our expert team at Longo Toyota of Prosper compiled this guide to leasing a new Toyota. The information we provide will allow you to determine if getting a lease is the right option for your situation.

What Is a Vehicle Lease?

A vehicle lease is a contractual agreement between an individual and a dealership, granting the individual the right to use a vehicle for a specified period in exchange for regular payments. Unlike a purchase, where you take out an auto loan to own it outright, leasing involves paying for the vehicle's depreciation over the lease term. The lease duration is typically a few years, during which the individual makes monthly payments. At the end of the lease term, the individual can buy the vehicle based on its reduced value or opt for a new lease.

Why Should I Lease My Next Vehicle?

Choosing to lease your next vehicle rather than finance it offers some significant advantages.

Lower Monthly Payments

The primary reason to choose leasing is for the lower monthly payments. Since you're only making monthly installments towards the vehicle's depreciation, the amount you must pay each month is typically lower. If one of your key concerns about getting a new car is affording the monthly payments, leasing may actually be more affordable than you realize. We highly recommend checking out some of our current lease specials to see just how affordable a new Toyota can be.

Less Maintenance and Fewer Repairs

Another benefit that makes leasing more affordable is the reduced need for maintenance and repairs. One of the leading reasons that vehicles need maintenance and repairs over time is due to wear and tear. The internal components of a car wear down the more you use it. However, with a leased vehicle, all these parts are practically new. This makes them less likely to break down, which means you'll spend less time and money on upkeep.

Even better, many new vehicle leases come with complimentary maintenance packages and warranties. So, for those rare times you do need maintenance or repairs, there's a good chance these additional protections will cover your costs. If you want to avoid the worry of future repairs, you'll definitely want to explore leasing your next vehicle.

Availability of the Latest Toyota Models

If you like the idea of always driving one of the latest Toyota models, consider leasing. This is because leases are only available on new models and last just a few years. The typical lease length is three years, so if you decide to continue leasing vehicles at the end of each lease, you'll always drive a model no more than three years old.

Driving one of the latest models means you have access to the newest technology innovations. These innovations can improve your driving experience, whether providing a more comfortable cabin, a better entertainment system, a more powerful engine, or advanced safety features. These technologies develop constantly, so by getting a new lease every three years or so, you stay on top of the trends.

Reduced Long-Term Stress

Finally, opting for a lease can help you reduce stress towards later on. When you finance a vehicle, you must consider its resale value. This can impact your driving habits, as you'll want to retain the value of your car as much as possible. With a lease, you don't need to worry about this. You lock in your vehicle's end-of-lease value when you sign up. So, as long as you remain within the lease terms, you won't have to stress about reducing its value.

What Models Are Available to Lease?

Our Longo Toyota of Prosper dealership has a large inventory of Toyota vehicles available for lease. These are some of the latest models to consider:

• 2025 Toyota Prius: The Toyota Prius is a hybrid electric car that provides commendable fuel efficiency. It combines a gasoline engine with an electric motor to deliver an environmentally friendly driving experience focusing on cutting-edge technology and aerodynamic design.
• 2025 Toyota Camry: The Toyota Camry is a reliable and popular midsize sedan. It offers a comfortable ride, fuel efficiency, and comprehensive safety features, making it a practical choice for diverse drivers.
• 2025 Toyota Corolla: The Toyota Corolla is a compact car with a reputation for fuel efficiency, reliability, and practicality. This popular model appeals to a broad range of drivers seeking a dependable and economical mode of transportation.
• 2025 Toyota Tundra: The Toyota Tundra is a robust and full-size pickup truck notable for its powerful performance, durable construction, and versatile capabilities. This multipurpose vehicle is a reliable choice for work and recreational activities.
• 2025 Toyota 4Runner:  The Toyota 4Runner is a rugged and off-road-capable midsize SUV that delivers durability, ample cargo space, and advanced off-road features. This popular model appeals to adventure enthusiasts and those seeking versatility.

Explore Toyota Leases at Longo Toyota of Prosper

Choosing to lease a new Toyota offers a lot of advantages. If you like the idea of lowering your monthly payments and driving the latest models, we highly encourage you to explore our Toyota lease options. To learn more, please contact our finance department or schedule an appointment at our Prosper dealership. Once you're here, we'd be happy to show you all the latest Toyota models  and help you find the one that's best for your situation. Thank you for considering Longo Toyota of Prosper, and we look forward to hearing from you.