Finance vs. Lease

Leasing:

The decision to finance or lease a vehicle is often a matter of personal preference. You know that if you finance your vehicle, you own it and can enjoy all the benefits of ownership, but what about leasing? In order to help you decide which is best for you, here are a few things that you should know about leasing.

Lower Rates, Lower Taxes

With a lease, you only pay for the portion of the vehicle that you actually use so monthly payments are lower than for a loan for the same car and term. In addition, leasing rarely requires a down payment. And you don't pay an upfront tax on the entire value of the vehicle, just on the monthly payment.

More Car, More Often

A lower monthly payment often means that you can get 'more car' for your money. In fact, many customers find they can lease a new vehicle for less than the finance payment on a used vehicle! And TFS can structure the lease to suit your trade cycle so that you can drive 'new' more often.

Less Maintenance, More Protection

If you lease for a term that coincides with the length of the manufacturer's warranty, repairs will always be covered. In addition, leases automatically include Gap Protection where, if your vehicle is damaged beyond repair, TFS will cover the difference between what you owe on the lease and the amount of your insurance settlement.

More Kilometres, Fewer Hassles

24,000 kilometres per year are included in your lease; and, you can buy additional kilometres up-front at a reduced rate. In addition, the trouble and expense of selling a used vehicle are eliminated. TFS assumes responsibility if you choose not to buy out the vehicle and there's no acquisition or disposal fees if you return the vehicle within the lease terms.

Options not Obligations

At the end of your lease, you have the option to purchase the vehicle at the Lease End Value indicated in your contract; return the vehicle as provided in the lease; or lease or finance another Toyota vehicle. It's your choice.

Competitive Rates, Flexible Terms

TFS offers competitive rates and flexible terms all set out in plain language in a closed-end lease that discloses all details and guarantees the lease-end value of your chosen vehicle. TFS also offers convenient financing and great rates should you choose to purchase the vehicle at the end of your lease.

Low Kilometre Leasing Option

With the Low Kilometre Leasing option you can take advantage of a lower lease payment if you drive up to 20,000 kilometres per year. See your Toyota Dealer for details.

Financing:

When you park your Toyota in the driveway, you want the satisfaction of owning it and the confidence of knowing that it was made possible through the quality financial services that we provide. Financing from Toyota Financial Services will make it happen with:

  • Competitive rates
  • Flexible terms of up to 72 months
  • Easy to read contracts that fully disclose all the details you need to know
  • Consumer-friendly, simple interest financing
  • Full or partial early repayments at any time without penalty
  • Convenient, automatic monthly payments through our Direct Payment Plan
  • The biweekly loan payment option enables you to make your vehicle payments every two weeks instead of on a monthly basis. Come in and see our Sales Department for more information.

Click here for more information on Leasing & Financing your Toyota.