Dealerships Vs. Carvana:

The car business is all about relationships. Having a good sales person is akin to having a trusted hairdresser or doctor, someone you rely on to advise you on the second biggest purchase you will make in your lifetime. Carvana is the equivalent of using WebMD to diagnose your symptoms or using box color to treat your hair. You may not achieve the results you wanted and you may have to absorb extra cost to correct the damage. As a car dealer we teach our sales people to understand what drives the customer. Usually, it has nothing to do with the vehicle.

Purchasing a vehicle can be a daunting task. Essentially, it is an investment that starts to depreciate the moment you drive off the lot. It is expensive to maintain and it is an integral part of your day to day life. Needless to say this is a very important decision that requires a great deal of thought, planning and automotive knowledge. Buying cars or homes is a skill, which is why we have realtors and dealers.

It may seem easy to purchase your next vehicle from the comfort of your living room while wearing bunny slippers. However, are you going to get a good deal? Price? Buying experience? What about vehicle longevity, finance terms and fees, resale value? Can you walk away from an online purchase with the peace of mind that there is a tangible person standing behind the integrity of your new car? Have you had someone explain the importance of gap insurance, extended warranties and given you a chance to ask questions? The short answer is "Maybe?" Is "Maybe" a good enough reason to purchase online? 

 Many skeptical folks don't trust auto dealers because of the negative stigma that surrounds the industry. Truthfully, there was a time that auto dealers had large margins and shamelessly marked up the cost of vehicles. This has lead to the 'snake oil salesmen' bad reputation of a car dealer. The truth of the matter is, due to the rise of the internet, pricing has to become very transparent and often a dealership will lose money on the deal to ensure a loyal customer that will service their car at the dealership and purchase future vehicles.

Here at Toyota of Greenfield we pride ourselves on our industry and product knowledge. We listen to our customers needs and select the best vehicles to suit those needs. We value your time and your money and will help you spend both wisely and will support you long after the sale. Purchasing and owning a vehicle is a skill like many other things, and it is crucial to have professionals help you make the best buying decision.


Leasing V. Purchasing

Here at Toyota of Greenfield we pride ourselves on our ability to determine our customer's needs then advise them on options. One of the questions we frequently hear is: "Should I buy or should I lease?" So we've decided to put together this comprehensive FAQ:

 What Is Leasing?

Leasing is a form of car financing where you don't pay for the entire car. When you lease a new car, you just pay for the depreciation that occurs over the term of the lease, plus fees and interest. There's often an amount due at signing, then the balance of the cost is paid over the duration of the contract in a series of monthly lease payments.

Here are a few buzz words to help you better understand how a lease works:

  • Cap cost: The capitalized cost is essentially the price of the vehicle.
  • Residual Value: A vehicle's residual value is its expected value at the end of the lease period.
  • Money Factor: the money factor represents the rate of interest that you will pay.

The amount you pay for leasing a vehicle is the capitalized cost minus the residual value, plus interest and applicable fees, including lease origination and vehicle registration costs. For example, if you lease a Toyota Highlander with a cap cost of $40,000 and a residual value of $25,000 after three years, you're responsible for paying $15,000 plus interest and fees.

What Are the Benefits of Leasing a Car?

Leasing a new car has several distinct advantages over buying a new vehicle:

Lower Monthly Payments

Because you are paying for the depreciation that occurs during the term of your lease, monthly payments are almost always lower with a lease than they are when you are buying a car. While it's never a good idea to base your decision on monthly lease payments alone, finding a payment that fits into your monthly budget is important.

Latest Tech

By leasing, you may be able to get a nicer car or afford a few extra options for the same monthly payments as you would have if you were buying. In order to get the latest safety and connectivity tech, you really need to have the newest car you can find. The latest models are loaded with advanced safety features and advanced driver assistance technology, such as automatic emergency braking, adaptive cruise control, lane keep assist, and semi-autonomous driving systems. Advanced connectivity features, such as 4G LTE data connections and support for Android Auto and Apple CarPlay are now common even in lower-priced vehicles.

Depending on the vehicle you lease, you can find a model with better fuel economy than similar models from just a few years ago.

Warranty Coverage and Maintenance

Unless you are putting a lot of miles on your new ride, it will be covered by the manufacturer's warranty for the entire time that you're driving it, since the term of most leases is just a few years. You don't have to worry about the cost of expensive repairs, as your dealership's service department should take care of any problems that occur.

Toyota Care has you covered with free factory maintenance for your entire lease term. That gives you a low and predictable total cost of ownership, with few unexpected out-of-pocket expenses.

Ease of Trade-In

When your lease is up, you can simply drive the car to the dealership and walk away after paying any final fees, along with any charges for excess mileage or excess wear. Of course, many leasing customers won't actually walk away - they'll drive off with a newly leased car. With leasing, you don't have to worry about the hassle of selling or trading in your old car, or haggling over its trade-in value. 

Sales Tax

Depending on where you live, leasing a car can save you a tremendous amount of money in sales tax.

Smaller Down Payment

When you lease, you'll often have a smaller down payment than if you buy. In fact, some leases require nothing due at signing.

What Are the Downsides of Leasing a Car?

Of course, leasing a new car isn't the best solution for everyone. There are several disadvantages you should be aware of before you leap into a lease.

Limited mileage

Leases come with mileage limits, and there are charges associated with exceed those limits. The total allowed mileage is the number of years multiplied by the number of annual miles allowed. That's the total you can't exceed over the term of the loan.

If you have no idea how many miles you drive each year or if your drive a considerable amount, you're probably not the best candidate for a lease.

The Importance of Good Credit

While it is possible to lease a car with bad credit, it can be much more complex and expensive than if you have excellent credit. It is always a good idea to check your credit score and the credit reports used to generate that score. You'll then have time to correct any errors on the reports and work to improve any problem areas.

What Are the Benefits of Buying a Car?

Like leasing, the option of buying a car has its pros and cons.


If you finance your purchase, its title will be held by your lender until any auto loan is paid off, though you'll build a bit of equity with each month's car payment as long as the payments outpace the rate that the car depreciates. Lease customers never have equity in their vehicles. However, lease customers do not need to worry about being 'tipped in their loan', which essentially means the vehicle has depreciated faster than the payments being made.

 Unlimited Mileage

Leases come with mileage restrictions, but when you own a car, you can drive it as much as you want. If you drive a lot of miles, buying a car makes much more financial sense than leasing one.

Cash For Your Next Car

You can use any equity that you have in a vehicle toward a down payment on your next ride. For example, if your current car is paid off and worth $10,000, you can trade it in and put that $10,000 of value toward the cost of a new car. You can't do that with a leased car.

No More Payments When Your Loan Is Paid Off

A significant advantage of car ownership is that your monthly payments end when you pay off your loan.

It's Easier to Finance Than to Lease

Leasing favors consumers with good credit scores, and there are few leasing options available to customers with lousy credit. Although a car loan usually costs more than a lease, a car loan is easier to secure for those with bad credit.

You Can Refinance Your Loan

You can refinance your loan at any time during its term. According to credit reporting agency TransUnion, consumers lower their interest rate an average of 2.4 percent when they refinance.

What Are the Drawbacks of Buying a Car?

Along with its benefits, buying a car has several drawbacks.

More Expensive in the Short Term

Since you are paying for the entire car, buying is more expensive in the short term. Unless you make a huge down payment, your car payments will generally be significantly higher. You may be required to make a substantial down payment as well.

You Pay Interest on the Entire Loan Balance

When you finance a car, you have to pay interest on the entire amount of money you borrow. With leasing, you're only paying interest on the difference between the cap cost and the vehicle's residual value.

You May Pay Much More Sales Tax

Depending on where you buy or lease, you can potentially be liable for much more sales tax when you buy compared to when you lease.

Buying Often Requires a Down Payment

If you want the best financing terms when you buy a car, you'll need to make a significant upfront payment.

You Don't Know How Much the Car Will Be Worth

There's no way to know exactly what your car's resale value will be when you decide to sell it. While you might be able to have a rough long-term estimate, market and economic forces can have a significant impact on its value. If you buy a car that gets a bad reputation for reliability, for example, it can lose its resale value much faster than its competitors.

Its Warranty Will Run Out

With most leases, you'll have full warranty coverage during the entire term of the contract. New-car bumper-to-bumper and powertrain warranties vary in length, but there's a good chance that if you buy a car, your warranty will expire before you decide to sell. That leaves you exposed to repairs that you'll have to pay for out of pocket if the car is no longer covered.

Whichever option you choose to get your next vehicle depends on your personal financial picture, how you use your car, and how long you plan to keep your vehicle. While there's no one-size-fits-all answer, assessing what you want and need from your car, plus what makes the best financial sense. Our fantastic team will be happy to discuss all of your options to ensure you are making the best possible choice. We look forward to exceeding your expectations! 

When Is The Best Time To Buy?

They say timing is everything. As the seasons pass, transaction prices can fluctuate with supply and demand. Automotive financing, cash back, and leasing incentives change based on the time of the year. The inventory of new vehicles varies as model years change and new cars, trucks, SUVs, and minivans arrive in the market. We've assembled a list of the best times to buy to ensure you, our customer, can make the most educated decision. 

First, it is important to note that no matter what season it is, the best times to buy a car is before your current vehicle leaves you stranded and when you are prepared to buy a new one. If you wait until your current model expires, not only will you lose its value as a trade, but you may find that the pressure to get a new set of wheels forces you to make a hasty decision on a vehicle you may not love long term. 

Being prepared to buy includes finding the vehicle that meets your needs and wants. Our knowledgeable sales staff will take the time to assess you needs and recommend the best vehicle for you and your family. 


Some think that shopping on busy weekends or going into the dealership right before they close will give you a ensure the best price. We are people too and strive to respect your time. We will be the most flexible with customers who respect our time as well. The data shows that visiting a car dealer at the end of the day or on a weekend won't help shoppers get a great price. A better strategy is to shop on a Monday. On Mondays (or other weekdays, to a lesser extent), we will have more time to negotiate the best deal. A side benefit is that most lenders will be open for business on a weekday, so you can arrange and finalize your auto loan before you leave our dealership.

The Month of October

In October, Toyota offers deeper discounts to move last years inventory off the lot to make room for 2019 models. Pick up trucks, in particular, tend to be good deals in October. For example the 2018 Tundra and Tacoma tend to change little between complete redesigns, so buying one that's one model year old usually won't require you to give up any significant features.

When There Are Incentives

If you can't time your car buying to any of the days on the previous slides, try to buy when manufacturers have financing deals, cash rebate offers, or lease incentives available on the Toyota you are considering. You can see the best financing or cash back deals available each month on our specials page. 

What's Up With Warranty? 


In simple terms, a powertrain warranty covers the parts of a car that provide power and make it move. Typically that involves the engine, transmission and drivetrain. If any of these components are found to be defective or damaged within a certain period of time, then the manufacturer will pay to have the bad components repaired or replaced. For additional repairs to other components, your new cars bumper-to-bumper warranty may have you covered. Like other new car warranties, the powertrain coverage is limited in terms of time or mileage; whichever comes first.

Bumper to Bumper:

Most car dealers give you a bumper-to-bumper warranty that covers a new vehicle for three years, with mileage restrictions. As the name states, this type of warranty covers everything between your vehicle's front and back bumpers, meaning if your engine quits or oil starts leaking, you can take the car in for repairs at no charge.

Should You Buy an Extended Warranty for Your Car?

Would you buy an iPhone and opt not to put a protective cover on it? An Extended Warranty is essentially an Otterbox for your $40,000 phone.

The average length of new vehicle ownership is now 6.5 years. People are keeping their cars longer, driving them consistently over 100,000 miles and above. In the U.S. one out of every four cars on the road was manufactured before the year 2000!

While most new vehicles come with factory warranties from the dealership, but with the average age of ownership more than double 36 months, that leaves your car unprotected for a substantial period of time.

Your warranty can pay for itself after one major repair:

Car repairs are expensive. The computer systems in modern cars can easily cost over $1,000 to fix! By buying an extended auto warranty upfront, these unexpected costs do not have to be paid out of pocket. The cost of one major repair may be more than you paid for your entire warranty, meaning you're saving some serious cash in the long run.

You can lock in savings on a new car:

Just like life insurance, the cost of an extended warranty increases as a car ages. If you purchase an extended warranty plan with your new car, it will cost less than if you decided to purchase the extended warranty after your factory warranty ends. If you purchase the extended warranty on a new car you'll get more bang for your buck, as your car needs repairs over time.

An extended warranty can increase resale value:

If you do decide to sell your car before the extended warranty ends, the warranty is usually transferable for a small fee to the new owner. Since the warranty gives the buyer extra peace of mind when buying a used vehicle, it can increase the resale value for the seller.

Bottom line: Should you buy an extended auto warranty? Extended auto warranties are a great choice for the buyer who is on a fixed budget, wants to protect their investment, and not be surprised by costly repairs down the line. So if any of those reasons sound like you, an extended warranty is a sound decision.

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