Dispelling Toyota Lease and Finance Myths

There are so many myths swirling around about getting a Toyota lease or financing one. It can be difficult to determine which is right for you if you don't have all the facts. We're dispelling common myths to help you shop with confidence at Hall Toyota Virginia Beach.  

You Can't Lease a Car if You Drive a Lot 

Yes, it's true that leases have mileage restrictions. However, when you first sign your lease, you'll work with us to set up your mileage allowance. We can help you determine how much mileage you need to avoid paying excessive mileage fees.  

You Have to Keep a Lease in Perfect Condition 

We understand normal wear and tear, so it's not uncommon to see leases returned with unavoidable dents or dings. However, you will be penalized with fees for any excessive damage. So, we strongly suggest that you always try to shelter your car when you can. 

You Need Excellent Credit for Financing 

To apply for Toyota financing, we will review your buying criteria. While your interest rate will likely be affected if you have a low credit score, that doesn't mean you're ruled out. Many lenders offer loans to buyers with less-than-perfect credit. 

Financing is a Waste of Money 

Since vehicles depreciate, many buyers believe they aren't a good investment. However, consistently leasing could end up costing you more in the long run, because you'll never be without an auto payment. As you pay off your loan, you'll build up equity. You can keep your vehicle after you pay it off to avoid car payments (for as long as you'd like), or you can eventually use it as a vehicle trade-in on a new purchase.  

Low Payments are Best 

Naturally, financing a car with comfortable monthly payments is attractive. However, it's essential to look at all the parameters. For example, it's often better to have a shorter term with higher payments, because it can limit how much interest you pay overall and may even get you better rates.  

Explore Our Toyota Inventory in Virginia Beach, VA 

Whether you're interested in Toyota financing or a new lease, we recommend that you start with a visit to our Toyota dealership in Virginia Beach, VA. We can discuss your options with you and help you decide which route is best for you. Stop in to get started today!