What to Know About Leasing a Toyota in Honolulu

If you are looking to acquire a quality vehicle at an affordable price, you should strongly consider leasing a new Toyota in Honolulu. You can lease a Camry, lease a Corolla, and more for low monthly payments. Let's take a look at why leasing may be preferable to buying in general and what happens when your lease expires.

Ask Us About Leasing a Toyota

The Benefits of Leasing a Car in Waipahu

For most people, the primary benefit of leasing a Toyota car is that your monthly payment will likely be lower than it would be if you decided to buy it. Furthermore, you are only responsible for making payments for a period of 24 to 48 months. Once the lease term expires, simply bring it back to the dealership and begin the process of acquiring another car, truck, or SUV.

Alternatively, you can choose to purchase the Toyota SUV for its residual value. The residual value is an estimate of how much the leasing company thinks that the car will be worth at the end of the lease term. In some cases, the car will be worth more than the residual value when returning or purchasing it.

This means that you have positive equity in the Toyota truck that can be redeemed in many different ways. For example, you could choose to use it to reduce the amount owed to the vehicle you have chosen to purchase after the lease expires. You could also choose to use it as a down payment on a new lease or ask that the leasing company write you a check for the difference between the car's estimated residual value and its actual value.

The Main Differences Between Buying and Leasing a Car

Lease Deals

Buying a car means that you take ownership of the vehicle and can use it however you want. When you lease a car in Windward, you are simply paying for the right to use it for a predetermined period. The leasing company has the right to impose mileage restrictions or other terms of use during the lease period.

Finance a Toyota

If the car needs significant repairs after it is returned, you may be required to pay for them. You'll generally be asked to fix or replace dented or scuffed door panels, tires that are damaged or worn, or chipped glass. It may also be necessary to clean a stained seat, ripped flooring, or other interior damage. You may choose to finance this car and buy it out right. Servco Toyota Honolulu even offers no credit and bad credit financing options.

What Happens When the Lease Is Up?

A few weeks before the lease expires, the vehicle will have to be inspected either at our location or another auto shop in the area. After the inspection, you will be given a written report highlighting any issues that need to be fixed before the car is returned to the leasing company. The day that the lease expires, you will return the car to the dealership, fill out paperwork, and pay a disposition fee. If the car is returned after the agreement's termination date, you may have to pay a late fee. However, these and other charges may be waived or reduced if you agree to roll your current lease into a new one. Ask us any more leasing questions you may have!

Contact Us at Servco Toyota

If you are looking to lease a Toyota in Kauai, don't hesitate to contact our customer service team online or by phone. We will be happy to talk more about available lease deals, like our Windward specials, Waipahu specials, Kauai specials, and Honolulu specials, or help you schedule a test drive of any car that you're interested in acquiring.  For more information, please call or contact us online at Servco Toyota.  We're looking forward to helping you!