When it comes to getting behind the wheel of a new Toyota, most Americans face the same big question: Should you lease or finance a Toyota? Both options have their advantages, but choosing the wrong one can cost you thousands over the life of your ownership. Leasing might mean lower monthly payments and access to the latest technology, while financing leads to full ownership and long-term savings.
This decision isn’t always simple. It depends on your lifestyle, driving habits, and long-term financial goals. For example, a student might prefer a lease to enjoy lower upfront costs, while a family might lean toward financing to build equity in a reliable Toyota SUV.
In this article, we’ll break down the pros and cons of leasing vs. financing a Toyota, with real-world data, expert opinions, and examples from popular models like the Camry, RAV4, and Tacoma. By the end, you’ll know which path makes the most sense for you in 2025.
Quick Overview of Toyota in the U.S. Market
Toyota has been the best-selling non-domestic car brand in the United States for decades. In 2024, Toyota sold over 2.3 million vehicles in the U.S., making it the country’s second-best-selling automaker, just behind Ford. Popular models like the Toyota Camry, RAV4, and Tacoma consistently rank among the top vehicles for reliability and resale value.
According to Kelley Blue Book (KBB), Toyota frequently wins awards for “Best Resale Value Brand.” That reputation makes the lease vs. finance question especially relevant—since Toyotas tend to hold their value better than most competitors, the financial implications are different compared to less reliable brands.
Key Factors to Consider
Reliability & Durability
Toyota is famous for its reliability. Consumer Reports 2024 rankings placed Toyota in the top five for brand reliability, with models like the Corolla and Prius scoring particularly high. Many Toyota vehicles easily surpass 200,000 miles, making financing more attractive for those who want to keep their car long-term.
Maintenance & Repair Costs
According to RepairPal, the average annual repair cost for Toyota vehicles is $441, below the industry average of $652. Over five years, owners typically spend $2,200–$2,400 on maintenance and repairs. Lease contracts often cover maintenance within the warranty period, while financing means you’ll bear more of these costs in the long run.
Resale Value in the USA
One of Toyota’s biggest strengths is resale value. Edmunds reports that vehicles like the Toyota Tacoma and 4Runner retain up to 60% of their original value after five years, making them excellent candidates for financing. With leasing, strong resale value lowers monthly payments, since the vehicle’s residual value is higher.
