Questions to Ask Before Leasing a Toyota

June 4th, 2015 by

CAM_MY15_0004_V001Leasing a vehicle is a good option for many drivers. It offers a number of benefits that you won’t receive when buying a vehicle. For example, you’ll always have access to the newest models available and the latest safety features since the average lease agreement runs for two or three years. At the end of that time, you can lease a new one. Other leasing benefits include lower monthly payments, less cash needed upfront and your vehicle will be under warranty. Leasing is a great option but it’s not something you want to jump right into without going over all the details. There are a few questions to ask before leasing a Toyota that will help to ensure you’re getting a good deal.

Five Questions to Ask Before Leasing a Toyota

The more you know about the vehicle you plan to lease and the leasing agreement, the easier it will be to make sure you’re getting a good deal. It will also help you determine if leasing a vehicle is the best option for you personally. Before you lease a Toyota, ask the following questions:

  1. Does the vehicle have a high or low residual value? The residual value is what the vehicle will be worth when your lease ends and it will influence your monthly payments. Your payments will be lower for a vehicle with a high residual value.
  2. What is the interest rate for the loan agreement? Know what your credit score is before going to the Toyota dealership in Miami because it does affect your interest rate. If you have excellent credit, the interest rate will be lower than if you have just good credit, so you want to make sure you’re being charged a fair rate.
  3. How many miles are you allowed to drive per year? If you go over the number of miles you’re allowed, you’ll be charred a pre-determined amount for each mile you go over at the end of your lease. Find out exactly how many miles you’re allowed to make sure it’s enough for your lifestyle.
  4. What kind of warranty does the Toyota have? One of the advantages of leasing a vehicle is having the warranty that goes along with it but you should know exactly what type of warranty you have and what it covers.
  5. Is the lease contract transferrable? You never know what the future holds. Therefore, it’s always a good idea to know what your options are in the event your personal situation changes while you’re leasing a vehicle.

In addition to these questions, read the lease agreement thoroughly. If you have additional questions or you don’t completely understand something in the lease, talk to your dealer before signing the contract.

Ask about Lease Specials

Dealerships normally offer special deals as incentive to encourage consumers to lease their next vehicle instead of buying. You can often find some really nice deals that make leasing your best option. Here at South Dade Toyota, we have several lease specials to choose from to help ensure you’re getting a great deal. Never hesitate to ask the dealer if they’re offering any special deals. It’s a great way to save money on your lease while sporting around that new Toyota you’ve always wanted.

Posted in Toyota Leasing