Lower Your Car Payments by Leasing
Here's how it works:As an example, let's use one of our most popular vehicles, this new Toyota Rav4. MSRP for this vehicle is $29,994. If a person decided to finance the Rav4 with $0 down payment, they'll have to make payments on the entire purchase price. If a person leased this vehicle instead, they'll only end up paying the amount that this Rav4 will depreciate during the 3 years that they drive it. The 3 year residual value on this Rav4 is $18,266. So, subtract the residual value from the purchase price and they'll only have to make payments on the $11,728 that this vehicle will depreciate in 3 years.
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Every year, 1 out of every 4 new vehicles is leased.
Why will 25% of the people getting a new car this year, lease? Here are just a few of the reasons:
Lower PaymentsWhen leasing, instead of paying for the entire vehicle, you only pay for the amount that your vehicle will depreciate while you're driving it.
Shorter CommittmentMost leases are a 24-48 months agreement. Most people who buy a vehicle, will finance it for 60, 72, 84 months or even longer!
Guaranteed Trade-In ValueEvery lease includes a pre-set residual value. At the end of your lease, your vehicle is guaranteed to be worth at least that amount.
More End-of-Lease OptionsAt the end of your lease, you have 3 options:
1. Purchase your vehicle for the residual value
2. Trade-In your equity to lower your next car payment
3. Simply walk away with no further obligation
Lower TaxesOn a purchased vehicle, you pay sales tax on the vehicle's full price. On a lease, your tax is based only on the amount of vehicle depreciation.
Warranty ProtectionToyota's new vehicle warranty is 3 years/36,000 miles. Lease for 36 months or less and chances are you will never be out of warranty protection.
Lower Maintenance CostsEvery new Toyota comes with
ToyotaCare, a maintenance plan that covers factory scheduled maintenance for 2 years or 25,000
miles
Upgrade to New Technology More Frequently Customers who lease are able to upgrade to a new model with newer technology and safety features more frequently than customers who buy their vehicles.
