Leasing May Be Right for You
Leasing can offer the best of all worlds – the vehicle you want, at a monthly payment that’s typically more affordable than buying. Toyota Financial Services’ leasing programs help make it happen.
With a lease, you may pay less cash up front and enjoy lower monthly payments than you would if you were financing your vehicle. You also have the flexibility of turning the vehicle in at the end of your lease, without having to worry about selling your vehicle at the end of the lease.
Ask us about leasing through TFS. We offer 24-60 month lease terms on new Toyotas and qualified Toyota Certified Vehicles. (Toyota Certified Used Vehicle terms depend on vehicle age).
- Costs at lease signing – The amount you pay at lease signing may be lower than the down payment pay at the beginning of a finance contract. This amount may include the following:
- first month’s payment
- acquisition fee
- refundable security deposit
- taxes and fees
- capitalized cost reduction (similar to a down payment)
- Purchase option – You’ll have the option to purchase your leased vehicle during the lease or at lease-end.
- Mileage limits – The total allowable mileage disclosed on the lease agreement is calculated by dividing the number of months in the term by 12 and multiplying this amount by 15,000 (standard lease) or 12,000 (low mileage lease). For example, a standard lease with a 36 month term is calculated as follows: 36 month term divided by 12 = 3 years; 3 years multiplied by 15,000 miles = 45,000 total allowable miles.
- Lease-end charges – You will be charged for any excessive wear and use.
- Early termination charge – If you terminate your lease early, you will be required to pay an early termination charge. This amount may be substantial.
- Tax benefits – If you use your lease vehicle for business, you should consult with your tax advisor regarding potential tax benefits.
Other terms and conditions may apply. Your sales representatives will be happy to answer all your questions! If you’d like more information about leasing a Toyota before you come in to our showroom, just call us at 615-230-9000.