Toyota Leasing Frequently Asked Questions
WHAT IS THE COST AT SIGNING?
The amount you pay at lease signing may be lower than the amount you pay at the beginning of a finance contract.
WHAT DOES THE TOYOTA LEASING COST AT SIGNING INCLUDE?
- first month’s payment
- acquisition fee
- refundable security deposit
- taxes and fees
- capitalized cost reduction (similar to a down payment)
CAN I PURCHASE MY LEASE VEHICLE?
You’ll have the option to purchase your lease vehicle during the lease or at lease-end.
WHAT ARE THE MILEAGE LIMITS ON MY LEASE VEHICLE?
The total allowable mileage disclosed on the lease agreement is calculated by dividing the number of months in the term by 12 and multiplying this amount by 15,000 (standard lease) or 12,000 (low mileage lease). For example, a standard lease with a 36 month term is calculated as follows: 36 month term divided by 12 = 3 years; 3 years multiplied by 15,000 miles = 45,000 total allowable miles.
WHAT LEASE-END CHARGES SHOULD I EXPECT?
You will be charged for any excessive wear and use.
ARE THERE TAX BENEFITS ASSOCIATED WITH LEASING?
If you use your lease vehicle for business, you should consult with your tax advisor regarding potential tax benefits.
WHAT HAPPENS AT THE END OF MY LEASE?
At lease end you may purchase the vehicle or return your vehicle at the end of your lease and satisfy your remaining obligations as described in your lease contract. A key feature of this option is that there is no need to sell your vehicle – just return it to a Toyota dealer. You may have to pay fees or charges associated with the end of your lease, as described in the lease agreement.
WHAT LEASING PROGRAMS AND OFFERS ARE CURRENTLY AVAILABLE?
When shopping for a Toyota, ask your dealer about leasing through the dealer and Toyota Financial Services (TFS). You can find a program that works for you. To locate the Toyota dealer nearest you, use our dealer locator.