Finance Or Lease?
There are a few things to consider when it comes to leasing or financing your new Toyota. Let’s discuss the benefits of both!
FINANCING IS A GREAT OPTION IF YOU:
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.
At the end of your finance term, your Toyota will “hold it’s value”. In other words when you have paid off your vehicle, you not only own it outright, you also benefit from owning a higher value vehicle because of Toyota’s commitment to building long-lasting quality vehicles. Six Toyota vehicles took home Canadian Black Book Awards, given to vehicles that best hold their value when it’s time for a trade-in.
LEASING IS A GREAT OPTION IF YOU:
Protect yourself against unexpected excess wear and tear charges on your leased Toyota with the available Wear Pass plan. Designed for protection against damage beyond what is considered normal everyday use, the Wear Pass plan ensures that you do not face extra charges at lease end.
The Automotive Lease Guide (ALG) awarded four Toyota vehicles for best residual value. At the end of your lease term the vehicle’s residual value is the worth of the car at that time. The higher the residual value, the lower your monthly payment, since you are only paying for the portion of time that you’re using the car.
For example: a $30,000 vehicle leased for three years with a residual value of $14,000, means you’re only paying $16,000 over three years. If the residual is $20,000 it means you’re paying only $10,000 over three years (ie. Lower monthly payments)*
* This example does not take into account interest rates, taxes, or offers and incentives.
What Happens at the End of My Lease?
You have three simple options when your lease term has ended:
Let's Get Started...
You have explored your options and now there is only one thing left to do. Get in touch a Toyota dealer and let us help you create a financing or leasing plan that is right for you. You can even submit a credit application and get approved for credit online.