Leasing can offer the best of all worlds - the vehicle you want, at a monthly payment that's typically more affordable than buying. Burdick Toyota 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 or trading your vehicle.
Costs at lease signing. The amount you pay at lease signing may be lower than the amount you 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)
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.1
Excessive wear and use. Normal wear and use on a
vehicle is inevitable, but if the damage is considered excessive at lease-end,
you may be held financially responsible. The TFS Excess Wear & Use
Protection Plan can help. Learn more
Disposition fee. A disposition fee will be
applied at lease end to help cover the costs to dispose of or sell the vehicle.
The fee will be waived on the existing lease
for qualifying customers who return to lease or finance their next eligible
vehicle with TFS through the Toyota dealer.2
Early termination charge. If you terminate your lease
early, you will be required to pay an early termination charge. This amount may
be substantial.1
Tax benefits. If you use your lease
vehicle for business, you should consult with your tax advisor regarding
potential tax benefits.
Lease-End Options
Rest
assured that at the end of your lease, you have options. You can elect to:
1. Lease a new Toyota or
2. Purchase your current
Toyota
Regardless
of which option you choose, Toyota Financial Services will help guide you
through the process every step of the way. For more information about your
lease-end options as well as what you can expect at the end of your lease,
click here to review the Toyota Financial Services Lease-End brochure.
Additional Information
For
more information on getting and keeping good credit, read "Understanding Vehicle Financing" from The American Financial Services AssociationEducation Foundation.
AdChoices