When you are weighing your Toyota lease options, it’s easy to become overwhelmed with all the options available. We’re outlining the different types of leases available at Centennial Toyota to help you determine which option works best for you.
A closed-end lease is the most common type of lease. In a closed-end lease, both the vehicle’s price and your term are predetermined. However, you could end up owing more if wear and tear or excessive mileage is found when you turn in your car at the end of your lease.
With an open-end lease, your lease doesn’t have an exact end date. These typically have a window of dates to turn in your vehicle, which is often over the course of a six-month timespan. However, since it doesn’t have a specific end date, it doesn’t have a set price.
Single Payment Leases
As the name implies, with a single payment lease, you make one payment for the entire lease. Instead of being divided into monthly payments, you’ll need to pay the entire lump sum upfront. This can help you save on interest costs.
Yes, it is possible to lease a pre-owned vehicle! Oftentimes, the requirements for leasing a used vehicle aren’t as strict as leasing a new vehicle. Plus, used vehicles are typically more affordable than new vehicles, which helps you get lower payments too.
Typically, a short-term lease is a lease that lasts less than six months, although, technically, “short-term” means any lease term that is less than two years. This can be a beneficial option for people traveling long-term or for those who have short-term needs for a vehicle.
Can’t decide which is the best type for you? Visit our Toyota dealership in Las Vegas, NV to discuss your options with our team today.