Finance or Lease?

Finance or Lease?

Before you can make an educated decision, you need to understand the benefits of both and how it works with your lifestyle.

Finance Is Right For You If...

  •  Put a lot of mileage on your vehicle
  •  Want to own your vehicle outright
  •  Use your vehicle for commercial purposes

Flexible Terms

With terms of up to 84 months, your monthly payment can be made smaller with longer terms, or you can make sure you are always behind a new Toyota with shorter ones.

Consumer-Friendly, Simple Interest Financing

Payments are calculated easier with a simple concept. If you pay a day early, you are credited for a day's interest. If you pay a day late, you pay a day's interest.

Competitive Rates

Great value means that Toyota always strives to offer financing rates that go easy on your wallet.

The Value of Financing a Quality Vehicle

Toyota vehicles are world renowned for their longevity. Financing a new Toyota can be a cost effective option for anyone looking to drive their vehicle for a long time!

Retained Value

At the end of your finance term, your Toyota will "hold it's value". In other words when you have paid off your vehicle, you not only own it outright, you also benefit from owning a higher value vehicle because of Toyota's commitment to building long-lasting quality vehicles. Six Toyota vehicles took home Canadian Black Book Awards, given to vehicles that best hold their value when it's time for a trade-in.

Leasing Is Right For You If...

  • Want lower monthly payments
  • Like driving a newer car more often
  • Would like a short term commitment

Flexible Options

With available lease-terms from 24-60 months, you can better plan for life's changing needs. Get in a new vehicle for your new job or expanding family, while staying on top of the latest vehicle safety, fuel efficiency, and user-convenient technologies.

Peace of Mind

Toyota protects you from the things you can't control. Optional with every Lease is the Wear Pass Plan that protects against unexpected excess wear and tear.

Protection For You

Standard on every Toyota Lease is Guaranteed Asset Protection. If your vehicle is declared a total loss, GAP will cover the difference, after you pay the deductible, between what you owe on the remainder of your lease and the amount of your insurance settlement.

Kilometre Allowance

Choose from 16,000, 20,000 and 24,000km allowances. With the standard 24,000km plan, you have the option of purchasing extra kilometres at a reduced rate up front. If you are not sure, you can buy extra kilometres at lease end at our standard rate.

Benefits for Small Business Owners

Leasing may offer significant tax advantages in Canada to business owners. Check with your tax advisor to see if leasing benefits you. After all, you owe it to yourself to arrive at every meeting in style.

Residual Value

The Automotive Lease Guide (ALG) awarded four Toyota vehicles for best residual value. At the end of your lease term the vehicles' residual value is the worth of the car at that time. The higher the residual value, the lower your monthly payment, since you are only paying for the portion of time that you're using the car.


What Happens at the End of My Lease?

1. You may lease or finance another Toyota vehicle.

2. You may purchase the vehicle at the Lease End Value indicated on your contract.

3. You may return the vehicle as provided in your lease.

A Look at Leasing

Michelle Whittle, Product Advisor at Heffner Toyota takes a Look at Leasing in the following videos.

Stage Of Life?

Less Monthly Payment

Big Myth