When our customers want to buy a new Toyota car, sometimes they find the total cost of financing a new vehicle expensive, even with a sizable down payment. Today, we want to let you know that there’s another way to drive home with a new Toyota that’s much more financially viable: leasing.
Leasing a New Toyota
The prospect of leasing is easy to learn. When you buy a new or pre-owned Toyota vehicle, you finance the total value of the car you’re buying, which is negotiated at our Toyota dealership. When you lease, you’re financing another amount altogether – the depreciation, which is the value the car loses from the moment you drive it off the lot to the moment you bring it back at the end of the lease term.
Once you return your vehicle, you have the option of entering into another lease for another vehicle, or you can keep the vehicle you have and finance the rest of the value of the car. Essentially, a lease means that you can always be driving a new car every couple of years, so you can continue to enjoy the newest features as they come out.
How Leasing Saves You Money
Say you want to lease a 2020 Toyota Camry for 36 months, with a total value of $30,000. We speculate that the vehicle will lose about 30 percent of its total value over the period of the lease, which comes out to $9,000. That amount, rather than the total value of the new vehicle, is what you finance and pay over the term of the lease. That works out to $250 per month, which is a far cry from the $800 per month you’d pay to finance the 2020 Toyota Camry’s total value.
If you want to drive the best, most recent Toyota vehicles on the road for much less than buying a car, come into our Toyota finance center and explore your lease options with our local Toyota dealers. Our expert Toyota finance specialists can provide you with incredible offers that will help you save in the long-run. We hope to see you soon!