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Contact Us/FAQ

Leasing and financing information is provided directly by your Toyota dealer. If you require further clarification about your Toyota Financial Services financing or lease agreement, you can contact Toyota Financial Services at 1-888-Toyota-8 (1-888-869-6828), Monday to Friday from 9am-5pm, for all time zones.

The address is:

• Toyota Financial Services
• 80 Micro Court, Suite 200
• Markham ON L3R 9Z5
• Phone: (905) 513-8200
• Fax: (905) 513-9776

Lease

• How many kilometres does Toyota Financial Service' standard lease provide?

  24,000 kilometres per year

• What if I drive more than 24,000km per year?

  You have the option of purchasing extra kilometres at a reduced rate up front. If you are not sure, you can buy extra kilometres at lease end at our standard rate. If you drive significantly more than the standard allowance, financing may be a better option for you.

• What is Guaranteed Asset Protection or GAP protection?

  GAP protection is automatically included in all Toyota Care Leases.If your vehicle is declared a total loss, GAP will cover the difference (the gap), after you pay the deductible, between what you owe on the remainder of your lease and the amount of your insurance settlement. You are only responsible for excess kilometre charges and any pre-existing damage to the vehicle.

• What is a Closed End Lease?

  All Toyota Care Leases are closed end leases. This means you make a set number of payments over the term of your lease and the leasing company guarantees the "price" or lease end value of your vehicle at the end of the term. Factors such as economic conditions, vehicle popularity, colour and equipment can all affect the value of a used vehicle and can result in the market value being lower than the lease end value at the end of your term. By guaranteeing the lease end value, Toyota Financial Services assumes the risk of any loss on the used vehicle. So, if your car is worth less than the lease end value, you can simply return the vehicle to us. You are only responsible for charges at lease end that may result from excess wear and tear or exceeding the kilometre limit set out in your lease contract.

• What is Wear and Tear?

  The customer is responsible for the vehicle's overall condition as detailed on the lease agreement (appearance, mechanical condition etc.). Charges will apply to kilometres that exceed the provisions in the lease.

Finance

• What is Simple Interest?

  Simple Interest financing is the consumer friendly way to calculate interest. Like the name implies, the concept is simple. If you pay a day early, you are credited for a day's interest. If you pay a day late, you pay a day's interest.

General

• What are the details for Toyota Financial Services' Grad Program?

  Graduate Eligibility

  • Must be graduating within 4 months, and the benefit of this plan can be taken advantage of up to 4 years after graduation
  • A 3 or 4 year Bachelor degree from a Canadian University (Post graduate degrees are not eligible)
  • A 2 year degree from an accredited college
  • A 3 year degree from CEGEP

  Credit Criteria

  • Verifiable proof of full-time employment or an offer of full-time employment that begins within 120 days of the lease or loan approval
  • Sufficient salary to cover living expenses, vehicle payments and vehicle insurance
  • The vehicle must be licensed in the graduate's name
  • Applies to first vehicle financed only
  • No credit experience is required, however, if credit has been established the applicant must not have any derogatory credit.

  Eligible Vehicles

  • Click here for eligible vehicles
  • All Toyota Certified Used Vehicles
  • You may also be eligible for Toyota's Graduate Rebate Program. Click here for more information.

• What's the difference in payment between a lease and a finance loan?

  Here is an example that shows the difference in your monthly payment depending on whether you lease or finance your vehicle.

  Comparison Details	Lease	Loan
  Term	48 Months	48 Months
  Interest Rate	7.95%	6.95%
  Selling Price	$ 18,000.00	$ 18,000.00
  Taxes*	N/A	$ 2,340.00
  Selling Price	$ 18,000.00	$ 20,340.00
  Lease End Value	$ 9,000.00	N/A
  Base Payment	$ 277.29	N/A
  Taxes on Payment*	$ 36.05	N/A
  Total Payment	$ 313.34	$ 486.59

  The MSRP and rates used above are approximate and used only as an example. Please see your Toyota Dealer for current finance and lease rates.

  *Taxes (GST & PST) are 13% in this example.