Understanding Toyota Lease and Finance Offers

March 17th, 2020 by

A new vehicle is one of the biggest purchases a person is ever going to make. The outlay of tens of thousands of dollars at one time can be scary and overwhelming. This is especially true because most people do not have enough money in their bank accounts to cover a car’s total cost in full. In that instance, they must turn to financing options. Buying a new Toyota and getting the right finance deal in Edmonton has never been easier, but here is one additional choice to make when purchasing a new car.

Toyota Lease and Finance Options

There are two main options to consider when shopping for a new car. The first is buying it outright, whether through a cash transaction or an auto loan. Financing is the best option for those who want to own a vehicle outright, want to put a lot of kilometers on the vehicle, and want to keep the vehicle for a long time. Financing makes the most sense for those who want to buy a car, pay it off, and enjoy many additional years free of car payments. Toyota has great financing offers that include flexible terms, competitive rates, and simple interest calculations.

A benefit to buying one of the best-selling car brands in Canada is that Toyota vehicles hold their value. After paying off an auto loan, a Toyota owner can enjoy not only a payment-free vehicle but also a higher value vehicle because of Toyota’s reputation of dependability and longevity. Six Toyota vehicles have taken home Canadian Black Book Awards, which recognize vehicles that best hold their value at trade-in time.

The second option for purchasing a new car is leasing. Leasing is a great option for people who want lower monthly payments, who want to get a new car every few years, who don’t drive a lot of kilometers, and who want a short-term commitment. Toyota lease offers include flexible lease-terms that vary from 24 to 60 months, as well as three different kilometer allowances–16,000, 20,000, and 24,000km. Leases provide the ability to get a new vehicle more often, which allow drivers to meet the needs of a new job or new addition to the family, all while getting the latest safety features, best fuel economy, and most high-tech gadgets. A lease allows buyers to only pay for the portion of time that they are using the car, saving money on the initial purchase price and saving on auto loan interest.

If someone opts for a lease, Toyota also offers three different lease offers for what happens when it is time to turn in the vehicle. The lessee may return the vehicle according to the terms of the lease and walk away without a car; the lessee may lease or finance another Toyota vehicle; or the lessee may purchase the leased vehicle at the Lease End Value indicated on their contract.

Financing or leasing is a purely personal decision, but Toyota provides great deals for both options. To purchase or lease a new Toyota vehicle, visit Toyota Northwest Edmonton and explore the inventory and the Toyota finance options in Edmonton, Alberta.

Posted in Finance