At Hall Toyota Virginia Beach, we want to make sure our customers know exactly what they're getting into when they sign a new Toyota lease. That's why we're ready to answer any questions that you have, but first see if this FAQ has already answered your questions for you!
Do I Need Good Credit to Lease?
Yes. In some cases, leasing can be more difficult to get approved for than financing. This is because your lease terms and payments are carefully calculated with the depreciation of the car in mind. A driver who breaks or defaults on a lease could be creating a headache for a lender and a dealership.
What Happens at the End of My Lease?
At the end of your lease, you have a few options. You can extend the lease for a little while, continuing to drive the same vehicle. You can buy the car you've been leasing. You can also turn in your leased vehicle and pick out a new car to lease. There's no worrying about trading in a car or depreciation.
What Are the Limitations of a Lease?
A leased car is not your vehicle technically. That means that you cannot customize it with parts, accessories, or a new paint job. You also will have a mileage limitation built into your lease. Go over 12,000 miles per year, or whatever your limitation is, and you'll have to pay extra fees.
Do I Have to Put Money Down When I Lease?
In most cases, yes. There are some promotional offers that won't require you to put down any money at signing, but you will have to have good credit to qualify for those kinds of incentives.
When Should I Lease Instead of Buy?
Leasing is a great idea for drivers who like to upgrade their vehicle every few years. It's also a good idea if you don't drive too far and the mileage limitation won't be a problem. The costs of ownership are also usually more predictable when you lease since many maintenance tasks are covered.
If you're ready to lease a dependable new Toyota car, visit our Toyota dealers in Virginia Beach. We look forward to seeing you!
