2020, 2021 Toyota Lease Deals, Specials & Offers
Leasing a New Toyota - FAQ
What is ToyotaCare?
ToyotaCare is one of the extra perks that come with buying a new Toyota vehicle. It provides 2 years/25,000 miles of no-cost scheduled maintenance. Oil changes, tire rotations, and fluid inspections are all included. With ToyotaCare, the cost of vehicle maintenance is greatly reduced. Drivers also benefit from 24-hour roadside assistance, which lasts for two years. In the event you experience a problem like a dead battery or flat tire, you’ll have extra peace of mind. Towing services are also included with the roadside assistance coverage.
Can I use the Toyota Military Rebate if I lease a Toyota?
Whether you lease or buy a new Toyota, you can take advantage of the available military incentive. Toyota will give you a $500 rebate. To get this rebate, a person must provide proof they’re a retired or active member of the military. Spouses and other household members are eligible as well. Simply bring proof of military membership to the dealership. Toyota accepts a Leave and Earning Statement, a Military ID card, and Discharge from Active Duty papers as proof.
How does the Toyota College Grad program work with a lease?
If you’ve graduated from an accredited college within the last two years or plan to graduate in the next six months, you can receive a $500 rebate. This means you can still be enrolled in school while seeking a college grad incentive. Simply show proof of future employment on your credit application. You can also ask your future employer to submit a written job offer.
How does Toyota’s Repeat Customers program work with leasing?
Like most automakers, Toyota values repeat customers. In exchange for your loyalty to the brand, the disposition fee on your current lease will be waived. Act fast to avoid missing out. You’ll need to lease a new or certified pre-owned Toyota within 30 days. While some customers prefer to get a newer version of their current vehicle, others opt to choose an entirely different vehicle.
Can I prepay a Toyota Lease and what is the advantage?
Prepaying a Toyota lease gives you an opportunity to save a lot of extra money. Many people also appreciate the extra convenience. Instead of making monthly payments, you’ll cover the entire lease in one single payment. Expect the total cost of the lease to be noticeably lower. After prepaying your lease, no longer will you have to worry about making scheduled payments.
What is the Multiple Security Deposit Lease?
Making extra security deposits at the beginning of your lease will lower your monthly payments. These deposits will be refunded after your lease expires. It’s an especially good idea for the drivers who have a little extra money to invest. While this program is available at Toyota dealers across the country, it’s not offered in New York.
What is the purchase process at the end of my Toyota Lease?
If you happen to fall in love with the current vehicle you’re leasing, Toyota gives you a chance to buy it. It’s an extremely easy process. The first step is to get a payoff quote. Afterward, customers can then seek financing at the dealership. Because the cost of the payoff will be lower than purchasing a brand-new vehicle, you stand to save money. The best approach is to contact Toyota Financial Services ahead of time.
What is the process to return my Toyota lease at the end of the term?
When your lease expires, you can simply drive it back to the dealership. Automotive technicians will then inspect the car’s condition. If the service team discovers any damage or unexpected wear and tear, be prepared to pay a fee. While some people opt to lease another new Toyota at this point, others choose to go a different route. Remember to bring back all keys, owner’s manuals, and any other equipment. Signing the Odometer Disclosure Statement is the last aspect of the return process.
Can I transfer a Toyota lease to someone else?
Toyota allows you to transfer your lease to another person. However, you cannot do so within the first 60 days or the last six months of the lease. Also, the new party should prepare to pay a lease transfer fee of $200. When planning to transfer your lease, make sure all of the transactions are first approved by Toyota.
What is the expense if I go over my allotted mileage?
Leasing a vehicle requires you to avoid going over Toyota’s mileage allowance. The charges for excess mileage can vary. To estimate your fees, simply take a look at your lease agreement. Toyota charges you a certain amount of money per mile. Putting just a few extra miles on the odometer shouldn’t cause much concern. On the other hand, excessive mileage can lead to a very expensive bill.
What are the different ways I can pay my Toyota lease payment?
Toyota gives you several different ways to make lease payments. Many people prefer to pay online. After linking your bank account number, the money can be automatically drafted out of your account every month. You can also pay over the phone, via Western Union Quick Collect, and through CheckFreePay. If you prefer traditional methods, paying by mail may prove to be the best option.
How does Toyota’s “Excess Wear and Use Protection” work?
Excess Wear and Use Protection gives you greater security when leasing a Toyota vehicle. It helps cover the cost of dents and dings. As long as the damage doesn’t exceed $1,000, you’ll be protected. Interior damage, like torn seats, will be covered as well. Unlike when dealing with an insurance company, this plan doesn’t require you to submit claims and pay deductibles.
How can I use the Toyota myTFS app with a lease?
Smartphone users greatly appreciate the Toyota myTFS mobile app. It’s a free app that simplifies the process of making payments. You’ll be able to easily monitor your total balance. Fingerprint authentication also allows you to avoid using a username and password. At the swipe of a finger, customers are able to complete their payment.
Can I defer a lease payment? What is the process?
If you encounter temporary financial trouble, you can defer a payment. However, it must first be approved. Additional finance charges are also a possibility. To make things easier, the best approach is to discuss your situation with a customer service representative. If this is your first time deferring a payment, Toyota may show some forgiveness.
What are the insurance requirements with a Toyota lease?
Minimum liability insurance coverage is required to lease a Toyota. The maximum deductible is $1,000, which is your out-of-pocket expense. In any instance, you must be insured at all times. If an accident does occur, the physical damage coverage will come in handy.