Leasing a Toyota: What You Need to Know

February 18th, 2014 by

leasing a toyotaLeasing a Toyota has many benefits and it can be a great alternative to buying. For example, you can always drive a new vehicle because when your lease ends, you can turn it in for a new one. You have access to all the latest features and you’ll have an excellent warranty that covers your vehicle throughout your lease. While leasing a vehicle is an excellent option for many people, it’s not something that you should rush into. Make sure you understand the details and your responsibilities before you sign the contract.

Before You Lease, Get the Details

Before you sign the lease for your new Toyota, go over it with the dealer. Leasing is much different from buying and there are specific details that you need to be aware of before making a commitment. For example, you’re still responsible for carrying insurance on your new Toyota, even though you’re not buying it. Therefore, it’s a good idea to give your insurance agent a call to find out how much it’ll cost you to lease a new Toyota. Insurance rates are higher on new vehicles and if you’re not prepared to pay more, it could have a negative effect on your finances if you’re on a limited budget.

You also want to go over the lease agreement before making the final deal. Make sure all your personal information and all other details are correct. Check the length of the agreement, your monthly payments and the number of miles you’re allowed to drive each year. You also want to make sure the contract includes gap insurance. The right dealership can offer you Toyota lease specials in Miami that can save you money by lowering your monthly payments or offering you zero cash down, so be sure to ask about any specials that they have available.

Know Your Responsibilities

When you lease a vehicle, you’re responsible for returning it in the same condition as it was when you left the dealership, except for normal wear and tear. For this reason, you want to inspect the Toyota you lease before you leave the dealership. Make sure the vehicle is in perfect condition or that any existing dents or scratches are recorded, so you won’t be responsible for them later.

You’re also responsible for bringing it back to dealership for general maintenance when needed and you must stay within the mileage limits you agreed on in the contract. If you go over your miles, you will have to pay extra at the end of your lease.

When it’s time for your lease to end, you’ll have to decide what you want to do next. You can turn it in for a new Toyota or you may have the option to buy the vehicle if you want to keep it. It’s a good idea to start thinking about what you want to do a few months before the lease is ready to expire, so you don’t have to make a quick decision.

When you lease from a reputable Miami Toyota dealership, you know you’re getting a dependable vehicle and when you go over the details and know your responsibilities, you’re sure to have a good Toyota leasing experience.

Posted in Toyota Leasing