How Does Toyota Lease Program Work?

How does a new Toyota every few years sound? You don’t even have to worry about selling or trading in your old Toyota. Does this sound too good to be true? Fortunately, it’s very true, and you can take advantage of Toyota lease specials with any Toyota dealer near you. First, though, you probably have a few questions about how Toyota leasing works. 

At Toyota Direct, we have a thorough understanding of Toyota financial services. Because of this, we want to inform you about how Toyota financing works. To do this, we have put together a list below of six facts about the Toyota lease program.

1. Loan Terms

Whether you’re using Toyota financial services or any other financial services, loan terms are one of the most important factors to consider when financing a vehicle. Toyota lease specials range from 24–60-month terms, and you should choose a term that works best for your financial situation. With a shorter term, you will pay less with higher monthly payments, but you should strive to choose a term with monthly payments that you can afford. 

2. Option To Purchase At End

When taking advantage of Toyota financial services, you will have the opportunity to purchase whichever vehicle you are financing at the end of the loan term. Aside from this, you will also have the option to trade up to a newer Toyota with Toyota lease specials. It is up to you to decide whether or not you want to permanently keep the car you have or upgrade.  

3. Lease Signing Costs

When you lease a car near you, there will inevitably be a variety of costs depending on the specific dealer with which you’re shopping. These costs are universal to all auto loans and not just specific to Toyota leasing. The most common lease signing costs can be seen below:

• First month’s loan payment
• Acquisition fee
• Refundable security deposit
• Taxes and initial fees
• Capitalized cost reduction (similar to a down payment)

To offset these costs, we at Toyota Direct are always offering incredible Toyota lease deals, ranging from trade-in incentives to specials on loan rates.

4. Fees

Aside from initial costs, there are also some fees associated with leasing any vehicle. With Toyota financing, there may be fees for excessive wear and tear to the vehicle you’re leasing. However, with Toyota’s Excess Wear and Use Protection Plan, these fees can be avoided. If you choose to dispose of your vehicle, there may also be a disposition fee involved, which covers the costs of selling or disposing of a vehicle. 

5. Mileage Limits

While shopping at Toyota Direct’s Columbus Toyota dealer, our financial experts will also go over all of the limits associated with Toyota leasing. The most significant limitation is regarding a vehicle’s mileage. These mileage limits can be calculated using the number of months in the loan term divided by 12. This number is then multiplied by 15,000 for a standard mileage lease or 12,000 for a low mileage lease. 

6. Return Policy

Suppose you are currently leasing a Toyota sedan; however, upon browsing some Toyota SUV models, you decide that you are very interested in a specific Toyota SUV. Perhaps this SUV better suits your lifestyle and passenger needs. If this is the case, you are in luck because Toyota leasing has a return policy. In fact, you can return your vehicle at any time, but there may be substantial early termination charges. With this being said, it may be wise to upgrade to a Toyota SUV once you’ve paid off the lease on your Toyota sedan if you want to avoid termination charges. 

Tags: columbus Toyota dealer, lease a car near me, toyota financial services, toyota lease deals, Toyota lease specials, toyota suv models
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