- How do I get started?
- What does ‘due at signing’ mean?
- What about maintenance of my leased Toyota?
- I want some additional equipment installed on my Toyota, like a trailer hitch or a roof rack. Do I have to pay for that up front?
- What happens at the end of my lease?
- What is residual value, and why should I care?
- I have a small business. Does leasing make sense for me?
- How long is a typical Toyota lease?
- What about nicks and dings that happen during my lease?
- What if my leased Toyota is in an accident?
How do I get started?
Come and see Your Home Team in Bowmanville. We can explain the many benefits of leasing and suggest the best option for your situation.
What does ‘due at signing’ mean?
This is the amount of money required up front in order to get the lease started. Often it is just the first month, plus taxes and the license fee (if any).
What about maintenance of my leased Toyota?
As with every new vehicle, we suggest you follow the maintenance schedule for your new Toyota. That means regular oil changes and check-ups. Following the recommended maintenance schedule for your new Toyota ensures it will deliver the kind of performance you expect.
I want some additional equipment installed on my Toyota, like a trailer hitch or a roof rack. Do I have to pay for that up front?
No need to pay for additional equipment up front. We can add most aftermarket equipment to your new Toyota and simply add it the cost to the payment. No need for additional up-front costs.
What happens at the end of my lease?
You have several options at the end of your lease:
- You may turn in your current Toyota, then lease for finance another one.
- You may purchase your leased Toyota for the Lease End Value indicated on your contract.
- You may simply return your leased Toyota.
- You may sell your leased Toyota to us at the end of the lease.
What is residual value, and why should I care?
Residual value is the estimated value of your vehicle at the end of the lease. The higher the value the better for you. It means you will enjoy a lower monthly payment for you new Toyota. This is because you are only paying for the portion of time you use the vehicle. Toyota vehicles enjoy some of the highest residual values in the business which means a lower payment for you.
I have a small business. Does leasing make sense for me?
There may be significant tax advantages when you lease a Toyota. Your tax advisor is best equipped to explain the benefits available to you.
How long is a typical Toyota lease?
You can choose terms from 24 to 60 months. The choice of term varies depending on our customer’s needs and budget. The longer the term, the lower the monthly payment. However, some customers like to get into a new Toyota more often and therefore choose a shorter term.
What about nicks and dings that happen during my lease?
We know that life happens. That’s why we offer an optional Wear Pass Plan. It is designed to protect against unexpected wear and tear items. Provided the nicks and scrapes are minor, the Wear Pass Plan covers the repairs without further cost to you.
What if my leased Toyota is in an accident?
- If your Toyota is in an accident but not a total loss, you are not responsible for the excess depreciation because of the accident.
- If your Toyota is declared a total loss you are covered. Standard on every Toyota Lease is GAP coverage (Guaranteed Asset Protection). If your leased Toyota is declared a total loss our GAP will cover the difference between what you still owe on the lease and the amount of your insurance settlement.
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