Leasing and Financing

What Is Best for You?

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If you are in the market for a new vehicle, Maple Toyota has the inventory to fit your budget. We aim to make finding a car, taking a test drive, and applying for financing as easy as possible. If you would rather lease a vehicle, our guide can help you learn more about your options.

What Is Leasing?

When you lease a vehicle, you obtain the right to use it for a specified time. Your monthly payment covers the cost of depreciation, which means that you'll likely pay less than you would if you purchased a car outright. At the end of the lease term, you can choose to return the vehicle or buy it for the amount stated in the lease agreement.

What Is Buying?

Buying a vehicle means paying for the right to use it without restrictions. If you finance the purchase, your monthly payment goes toward the loan balance and interest to the lender. At the end of the loan's term, you become the owner of the car and can do whatever you'd like with it.

What Is the Difference Between a Lease and a Finance Agreement?

The main difference between a lease and finance agreement is what each allows you to do with the vehicle. A lease agreement states that you have the right to use the car during the lease term. Meanwhile, a finance agreement states that you are the owner of the vehicle, assuming you stay current with the monthly payments.

Returning Your Leased Toyota FAQ

After years of being seated behind the wheel of your new Toyota, your lease is coming to an end. You may be thinking, "What am I supposed to do now, and when should I do it?" Well, look no further; we've got you covered. We've compiled and carefully answered some of the most common questions you might have about returning your car at lease-end.

Yes, you absolutely can. If you love the vehicle you've been driving and you like knowing the exact history of where it's been, then we'd be happy to help you keep driving what you love. You'll be paying the residual value (Plus tax) on your vehicle, which is the pre-determined value that the vehicle is worth at the lease end.

If you're longing to get your hands on the wheel of a Toyota, it's easy to make the switch and we're happy to help you. Simply come in and see us here, at Maple Toyota - we're eager to assist you in finding the perfect vehicle.

Around 6 months before your lease is up, you should schedule a meeting at our dealership to discuss your options. We can help you figure out a course of action for whatever you choose…be it re-leasing, buying or simply returning your vehicle.

About 60 days before your lease ends, it will be time to bring in your vehicle for inspection. This will be to check the mechanics as well as the inside and out of your car. Your regular wear and tear is covered when you return your vehicle, so don't stress. We're just checking for anything that would be considered "excessive" wear and tear.

You will have made your decision by about 30 days of what you will be doing with your car. If you're re-leasing or returning it, then you will be bringing your vehicle in either before or on the day that your lease ends.

At the end of your lease period, we inspect your vehicle to ensure you have no mileage overages, and it is in good shape.

We know that life circumstances may force you to end your lease early. As always, we will do all we can to help.

Lease Transfer

A great way to end your lease early is by signing over the lease to another person.

Early Buyout

To end your lease and keep your vehicle, you can take an early buyout to pay the entire balance of outstanding payments left on the lease.

Change Leases

Starting a new lease will permit you to drive away in a new vehicle and end the contract for the previous one.

Contact Us

Contact us right away if you want to discuss any questions or concerns. We look forward to hearing from you.

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