Here at Centennial Toyota, we have a vast selection of both used and new 2021 Toyota models for sale, which means that you have no shortage of options when it comes to finding your dream car. However, we also know that there’s a lot more that goes into getting your next vehicle than simplly picking out a model. That’s why our Toyota financial services are here to help.
When it comes to buying or leasing a new car, a lot of drivers have financial questions, and for good reason. That’s because there’s a lot to cover. To help, we’ve compiled a quick financing FAQ for you.
Toyota Financial FAQ
Q: What is the difference between a loan and a lease?
A loan is the amount of money your financial institution gives you to purchase a car and typically covers the down payment. A lease is when you essentially borrow the car from the dealership for a determined amount of time, usually somewhere between two and five years.
While leasing a car often has lower monthly payments, when you own your car, you’re not restricted by the dealership in terms of upkeep, mileage, and more.
Q: How does vehicle financing work?
Once you decide whether you want to get a loan for the car or lease it, we’ll take the next steps. You’ll work with our finance department to find the best terms for you. Essentially, financing works by crediting you the money you need to buy or lease your next car. So, instead of directly paying the dealership, you’ll pay off your vehicle over time to the financial institution.
Q: What’s the purchase price of my new car?
While the price on the sticker will give you a great indication of what the car will cost, the sticker price isn’t always what you pay. Our trained team will work with you and your credit to find an agreeable price. However, that price may change based on certain circumstances.
Q: Where can I fill out a finance application?
Drivers in the Henderson, NV area looking to get an idea of what their next car will cost can fill out a finance application right from our site. From there, we’ll work with you and your budget to find you your perfect car.