Learn About Leasing A New Toyota in Memphis

Learn About Leasing a New Toyota in Memphis

Principle Toyota is the Perfect Place for Memphis Motorists to Lease a New Toyota Truck, Car, Van or SUV

Travel around the Memphis metro with the flexibility to change models and enjoy a different and newer Toyota in the upcoming miles. Principle Toyota in Memphis offers enticing lease deals and all the latest trucks, cars, vans, and SUVs from the Toyota lineup to lease.

What It Means to Lease a Toyota

Leasing makes up one-third of all car sales and proves to be a practical alternative to buying a Toyota outright. Leasing is usually reserved for new Toyota models off our Memphis lot. Collierville customers can consider leasing a long-term rental, with most Toyota lease deals in Memphis lasting two to four years.

Pros of Leasing a New Toyota in Memphis

Leasing a new Toyota in Memphis leaves Lakeland lessees with several benefits.

Leasing allows Oakville drivers to unlock the newest Toyota models that showcase the latest features, technology, and design trends. Ride around Memphis in style by leasing a Toyota.

Once the Toyota lease deal expires, southeastern Memphis motorists can switch to leasing another Toyota, whether it's the same model with the latest model year or another truck, car, van, or SUV from the lineup.

Financing requires sizable down payments. With leasing, Lakeland customers can make a lower down payment and not have to worry about saving up for a lump sum just to take the keys.

The lower monthly payments for leasing make a difference for Memphis shoppers and their budget flexibility.

Because most Toyota lease deals last only 24 to 48 months, the leased Toyota vehicle takes less of a depreciation hit in value compared to financing terms, which are longer. Oakville customers aren't paying for ownership, but instead only for the depreciation value over the course of the Toyota lease deal.

The Toyota manufacturer's warranty lasts the duration of the Toyota lease deal, covering major repair costs for Germantown motorists, if they experience a breakdown or mechanical failure. New Toyota models require less maintenance, so Collierville drivers can expect fewer repair costs throughout their leasing contract.

How Leasing Differs from Financing

Lakeland lessees will discover that leasing a new Toyota in Memphis has key differences compared to financing. Keep the following factors in mind before leasing a new Toyota in Memphis.

Leasing a new Toyota involves wear and tear limits to keep the vehicle in pristine condition. The lease contract will go over details with Germantown motorists on what's allowed for wear and tear restrictions.

Our Toyota dealership in Memphis will detail mileage restrictions, telling lessees how many miles the odometer can rack up each year.

Germantown lessees may need GAP insurance coverage during their leasing period. If wear and tear limits, annual mileage allowances, or other contract details are broken, there may be leasing fees to pay.

Can You Own the Vehicle After Leasing a Toyota?

Yes. Memphis lessees can buy out their Toyota lease deal and finance what's left of the vehicle's full price.

If Lakeland drivers love their lease, we recommend they transition to ownership by working with our Toyota finance center in Memphis. A Purchase Option Agreement gives them the flexibility to buy the Toyota when their lease deal expires.

A Close-End Lease is the most common Toyota lease deal. It details a specific lease start and lease termination date, when the vehicle must be returned to us in Memphis.

Some Germantown shoppers may be interested in a Single Payment Lease, which allows them to pay off their leased Toyota vehicle in one payment, rather than monthly installments.

Explore Our New Inventory to Find a Toyota to Lease

Do you love the benefits of leasing? We figured you might! Peruse the new inventory at Principle Toyota to see which trucks, cars, vans, and SUVs from our Memphis lot are suited for you. You can also schedule your end-of-lease appointment before handing in the keys at our Toyota lease return center in Memphis.

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