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Toyota Lease Deals

Toyota Lease Deals

Toyota remains a powerful name in the automobile industry. Their history dates all the way back to 1937 when the company first opened its doors as a completely separate company, apart from the entities it had worked with in the past. Today Toyota produces some of the world’s finest models of economy cars, proud to help drivers achieve their dream of automobile ownership through economical but dependable cars. Toyota isn’t all about economy, though. For those drivers who prefer luxury, there are other models to choose from, such as the Camry and Avalon. The Rav4 accommodates Toyota fans who prefer SUVs.

Popular Toyota Models

Toyota produces some of the top models of cars in the automobile industry today. They are behind the wildly popular Camry and Avalon as well as the well-known Rav4 model that so many SUV fans love. Their top models include:

Toyota Corolla
– Toyota Camry
– Toyota Land Cruiser
– Toyota Rav4
– Toyota Prius

All of these models of Toyota have pleased drivers in America and abroad and have allowed some people to buy cars that wouldn’t have otherwise been able to afford it. Toyota’s economy cars are some of the best to be found anywhere. For those who can’t afford to buy at all, there is always the option of leasing a Toyota. Leasing is a wonderful alternative to buying, and it has so many advantages that sometimes people prefer to lease cars instead of buy them outright, even if they can buy the car. Here’s why.

The Magic of Leasing a Toyota

Leasing has a lot of advantages over buying that are rarely explored by dealerships that are more focused on selling cars than leasing them. Some dealerships have recognized the advantage of leasing cars for their customers and for themselves and have taken the time to explain the benefits to their customers before they buy a car.

Why leasing is better than buying

Leasing a car’s most obvious advantage is that it will result in lower monthly payments and up front costs. This means that when you go in to make a down payment on a leased car, there might not even be a down payment. If there is a down payment, it will be less than a down payment on a car you’re buying. The reason for this is that when you finance a car to buy it, you are financing the entire amount that the vehicle costs. With a lease, you’re just financing a small portion of that. This yields a lower monthly payment, often as much as 60% less than a monthly payment on a bought car. The advantages don’t end there, though.

Repairs are another area of concern for people who buy a car. If you’re buying used, especially, you run the risks of the car breaking down. If you exhausted all of your finances buying the car, you don’t have anything left over to pay for what might be very expensive repairs. With leasing, this isn’t an issue. Leased cars are generally under factory warranty and will be repaired for free if they break down. That means that right up front on a lease, you’ve saved money on the down payment, monthly cost, and the repair bill for the car. That’s a huge chunk of change saved right up front.

Sales tax on a very expensive vehicle can amount to a lot. With leasing, that also is reduced. You will never pay as much sales tax on a leased car as you will on a car that you buy. This is yet another short-term bit of savings you get when you lease a car. Add that to the peace that comes from knowing car repairs are taken care of and there are reasons to lease even if you can afford to buy a car. The advantages of leasing a Toyota can save you a lot of money today.

Lease a Toyota

If you’ve got your eye on one of the new models of Toyota, or you want an older model, leasing might just be the best way to drive off the lot in that car today.

Toyota remains a powerful name in the automobile industry. Their history dates all the way back to 1937 when the company first opened its doors as a completely separate company, apart from the entities it had worked with in the past. Today Toyota produces some of the world’s finest models of economy cars, proud to help drivers achieve their dream of automobile ownership through economical but dependable cars. Toyota isn’t all about economy, though. For those drivers who prefer luxury, there are other models to choose from, such as the Camry and Avalon. The Rav4 accommodates Toyota fans who prefer SUVs.

Popular Toyota Models

Toyota produces some of the top models of cars in the automobile industry today. They are behind the wildly popular Camry and Avalon as well as the well-known Rav4 model that so many SUV fans love. Their top models include:

Toyota Corolla
– Toyota Camry
– Toyota Land Cruiser
– Toyota Rav4
– Toyota Prius

All of these models of Toyota have pleased drivers in America and abroad and have allowed some people to buy cars that wouldn’t have otherwise been able to afford it. Toyota’s economy cars are some of the best to be found anywhere. For those who can’t afford to buy at all, there is always the option of leasing a Toyota. Leasing is a wonderful alternative to buying, and it has so many advantages that sometimes people prefer to lease cars instead of buy them outright, even if they can buy the car. Here’s why.

The Magic of Leasing a Toyota

Leasing has a lot of advantages over buying that are rarely explored by dealerships that are more focused on selling cars than leasing them. Some dealerships have recognized the advantage of leasing cars for their customers and for themselves and have taken the time to explain the benefits to their customers before they buy a car.

Why leasing is better than buying

Leasing a car’s most obvious advantage is that it will result in lower monthly payments and up front costs. This means that when you go in to make a down payment on a leased car, there might not even be a down payment. If there is a down payment, it will be less than a down payment on a car you’re buying. The reason for this is that when you finance a car to buy it, you are financing the entire amount that the vehicle costs. With a lease, you’re just financing a small portion of that. This yields a lower monthly payment, often as much as 60% less than a monthly payment on a bought car. The advantages don’t end there, though.

Repairs are another area of concern for people who buy a car. If you’re buying used, especially, you run the risks of the car breaking down. If you exhausted all of your finances buying the car, you don’t have anything left over to pay for what might be very expensive repairs. With leasing, this isn’t an issue. Leased cars are generally under factory warranty and will be repaired for free if they break down. That means that right up front on a lease, you’ve saved money on the down payment, monthly cost, and the repair bill for the car. That’s a huge chunk of change saved right up front.

Sales tax on a very expensive vehicle can amount to a lot. With leasing, that also is reduced. You will never pay as much sales tax on a leased car as you will on a car that you buy. This is yet another short-term bit of savings you get when you lease a car. Add that to the peace that comes from knowing car repairs are taken care of and there are reasons to lease even if you can afford to buy a car. The advantages of leasing a Toyota can save you a lot of money today.

Lease a Toyota

If you’ve got your eye on one of the new models of Toyota, or you want an older model, leasing might just be the best way to drive off the lot in that car today.

Moving to another state, whether for a new job or new beginning, can be an exciting time in your life. Just the thought of having a fresh start conjures many emotions of anticipation. This can also create overwhelming feelings as you move through the checklist of things to do: pack belongings, schedule a mover, withdraw children from school and contact your car leasing company.

That last item raises the question of whether you can move to another state and keep the leased vehicle. In short, the answer depends on what is outlined in your leasing agreement about the right to move the car to another state. With some leasing companies, you would be prohibited from permanently moving the Toyota car lease to another state or country. Others might grant you the right.

Contact your leasing company as soon as you know you will be moving so you have plenty of time to prepare. You may need to add ‘buying a car’ to your to-do list.

Notify Lease Company

It is important to notify your leasing company of your plans to move to another state. Even if your agreement permits it, the company will need an update billing address that the car is garaged at a new location. Equally important is there may be a difference in the sales tax rate between your current address and new one. Any change in the rate also changes your monthly payment.

Specifics on how much your payment may change depend on the state. In some states, your payment may increase; in others, you may see a decrease in the payment.

Consider Possible Changes to Taxes

If your move takes you from a state where the remaining Toyota lease payments under the agreement are taxed, you will need to verify the laws of the new state. Contact that state’s department of motor vehicles and ask if you can get a refund or credit for the portion of taxes you already paid.

Although this is possible, it is also possible that the new state will use a different system to tax the vehicle. Some states collect taxes when the lease begins and others collect taxes throughout the term on the lease. In these situations, you could be required to pay additional sales or use taxes to the new state. Keep in mind that not all states will issue a credit or refund for the taxes you already paid in the state where the lease originated.

Other considerations include car insurance, and registration and tag fees. Insurance rates are subject to change from one state to the other. This might be the case even if you stay with the same insurer. Switching insurers is necessary of your current carrier is not licensed to do business in the state to which you are moving.

Likewise, the process of obtaining registration and tag fees may differ. Instructions for transferring to another state are typically detained on the state’s motor vehicle website.

Transferring Your Toyota Lease

If it turns out that your Toyota lease agreement does not permit moving the car to another state, you might have other options such as transferring the lease to a new owner. Again, this rests solely upon what was negotiated at the start of the lease, so reading the fine print before finalizing decisions is in your best interest.

When lease transfer is permissible, it can release you from legal obligations. Using this option, you must find another person who is willing to become the lessee for the vehicle. This might require providing an incentive for the lease transfer. For instance, you might want to leave the damage deposit.

Finding someone to take over your Toyota lease payment might not be the best solution before your move to another state for various reasons such as:

• The potential lessee does not have good or sufficient credit to take over the lease payments
• Positive equity is in your leased car
• There is excessive damage, wear or mileage on the leased car
• There is a post-transfer liability for this type of transaction

However, if everything works in your favor, the process to complete the lease transfer is very similar to buying out your lease.

Breaking Your Toyota Lease Agreement

The least favorable option if you are unable to move to another state with your leased car is to simply break the lease agreement. Before proceeding with this, however, it is important to fully understand the terms of your lease. Most likely, you will owe penalties, lease payout fees and other ongoing liabilities as outlined in the agreement for the remaining time of your lease.

Contact your lease company, whether you have leased the vehicle through an agency or dealership. The leaseholder will have the specific terms of your lease and any information you need to make a sound decision.

Read your lease agreement and make sure you fully understand the consequences to your decision, which depends entirely on the leasing company’s policies and regulations of both states.