Why Leasing is the Smart Way
To Drive A New Toyota
Toyota Lease Deals, Specials, Offers & FAQs
Why Leasing is the Smart Way
To Drive A New Toyota
Benefits of Leasing A New Toyota From Toyota of Sanford, Serving Fayetteville, Pinehurst and Raleigh NCLower Monthly Payments -- Because you only pay for the portion of the vehicle that you actually use, monthly lease payments are usually way lower than conventional loan payments for the same car and term.
Nicer Car, More Often -- Since lease payments are lower, you can get more car for the same money and drive a new vehicle every 2 to 4 years, depending on the term length of your lease.
Less Maintenance Expense -- Most people lease their Toyota for a term that coincides with the length of the manufacturer's basic warranty coverage so that if something ever does go wrong, the repairs are usually covered.
Lower Upfront Cash Needed -- Most leases require little or zero down, which makes getting into a new car more affordable and allows you to spend your cash on other things.
Lower Tax Hit -- In most states, you don't pay sales tax on the entire value of a leased vehicle as you would if you purchased. You're only taxed on the portion of the value that you use during your lease. And the tax is spread out and paid with your monthly lease payments instead of it all being required upfront.
No Used-Car Hassles -- With leasing, the hassles of selling a used car are eliminated. When your lease ends, you simply turn it back in to the leasing company, unless you decide to buy it or trade it.
Gap Coverage Included -- Most leases automatically include free "gap" protection in case your vehicle is totaled in an accident or stolen, and you still owe more than the vehicle is worth. Loans do not generally come standard with gap protection.
Guaranteed Purchase Price At Lease End -- You'll know from day one what you can buy your leased vehicle for at the end of the lease, which protects you in the event the car is worth more than expected due to favorable market conditions (like gas prices, for example). Plus you can also walk away from the vehicle if purchase or trade conditions are unfavorable... or if you just want to drive something different!
Leasing FAQs - Leasing Myths Busted By Toyota of Sanford Serving Fayetteville and Raleigh North Carolina
"Isn't it better to own my vehicle?" Only 19% of people who get a 60-month car loan keep their vehicle long enough to make the last payment. With a traditional loan, the bank owns the car until you make the last payment.You'll probably trade it before you ever own it.
"What if I damage my leased vehicle?" Just file a claim with your insurance company like you would if you had financed the vehicle or owned it outright.
"Isn't leasing like renting?" NO, leasing is not renting. When you rent something, you don't pay down the principal. When you lease, you're actually paying down the principal and have several options at the end. Buy it, trade it, or turn it in!
"Am I responsible for repairs while I lease?" Yes. But a lease usually ends about the same time as the warranty, so it's unlikely you'll pay for any repairs!
"If leasing is this good, why don't more people lease?" Actually, more and more people are leasing since the lower payments make it easy to drive a nicer, newer vehicle. Leasing is the most affordable, and smartest way to drive a new Toyota.