Toyota Camry Pawtucket, RI

Should You Finance or Lease Your Toyota Camry in Pawtucket, RI?

After some online research, you’ve determined you want to purchase a Toyota Camry for your new car in Pawtucket, RI. You’ve made a great decision. This mid-size vehicle has been a popular and satisfying choice for all types of buyers for the past 35 years. Once you get inside a Camry and examine its features and capabilities, it’ll be easy to see why so many people love this vehicle. Your biggest decision at this point is whether it makes more sense to purchase this car with a loan or take out a lease. 

The Case for Buying

Getting an auto loan for your new Toyota Camry is wise when your credit score is less than stellar. Dealers will only approve a lease if you have excellent credit, so if you’ve struggled with your score, buying is your best bet. Fortunately, dealers are more flexible with loans than they are with leases, so you still may be able to get into a Camry even if you’re worried about credit. When you buy, you also won’t have mileage restrictions. You can also make changes to your vehicle. It’s also nice to pay off your loan and not have that monthly payment hanging over your head. 

The Downsides of Buying

You will have higher monthly payments on your loan than you would with a lease. Another drawback to buying your car is that once you’re ready to move on to another vehicle, you have to consider your car’s declining trade-in value or find a private buyer in Pawtucket, RI, or other nearby areas.

The Case for Leasing

With lower monthly payments, leasing your Toyota Camry can help you save money during the term. You also won’t pay as much in taxes, insurance, or registration fees. When you lease continually, you will also be at the driver’s seat of a brand-new car with which you can expect to have few, if any, mechanic and performance issues. At the end of your lease, you simply drop the car off at the dealership. 

The Downside of Leasing

Don’t plan on driving much outside of Pawtucket, RI, if you lease. Most dealers limit your annual mileage to between 10,000 and 12,000 miles. Also, if you always lease, you’ll always have a car payment. 

No matter what decision you make when shopping for a Toyota Camry in Pawtucket, RI, Boch Toyota South can help. You can find the right Camry at a price you can feel good about. 


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