What Are the Benefits of Leasing a Toyota Corolla?

While there’s numerous reasons, the most often cited is that by entering into a Toyota Corolla lease deal, you don’t have to wrangle with the heavy responsibility of lifetime ownership. Being able to enjoy the craftsmanship and sense of smart design that goes into every Toyota without having to concern yourself with serious upkeep is a small piece of luxury that can’t go overstated.

Another benefit we’d like to point your attention to is that due to their nature, a lease deal can, and often does, go through with you experience a lower down payment. However, the story continues. Because of how some specific lenders and leasers operate, you may find yourself in optimal circumstances that save you from putting any money down out of pocket. Granted, these are rare occurrences but still worth noting.

Finishing up, we ask you, do you know the average lifespan of a Toyota Corolla lease deal? Well, it’s in the neighborhood of two to three years. With a lifespan this short, it allows you to jump from lease to lease with ease. If you’re interested in the newest hardware and technological upgrades debuting in upcoming models, you can be first in line when they start hitting the market!

What Are My Options When My Toyota Corolla Lease Ends?

The good news is that you’ve got a lot of different options to choose from. You’ll be surprised by how easy it is to complete a lease deal, requiring a lot less work than you’d think. Amongst drivers, the most common practice is to return the vehicle, or Toyota Corolla in this instance, to the dealership you originally leased it from. However, if there is significant wear & tear and mileage that went over the agreed upon terms, you could be held responsible. Once you take care of that, you’re free to go.

Another option, especially if you’ve grown fond of your Toyota Corolla, is to buy it outright. When you choose this option, you’ll be buying it at its residual value which is lower than its book value.

Our third highlighted option is to simply re-lease your Toyota Corolla. This gives you the ability to either extend your current lease for a set period of time or just a re-leasing. If you choose the latter option, it sets you up with is basically a used-car lease, which has the potential to positively impact your monthly payments.

Online Finance Tools

You can use these tools to get a head start on your Toyota Corolla lease journey. First up is applying for finance which gets you a head start on securing credit while letting our team learn more about yourself. You’ll also cut down on the amount of paperwork you’d be responsible once visiting the finance center.

Then there is the CARFAX Trade-In Value tool that after supplying a short amount of basic information about your desired trade-in vehicle, will return you a market based estimated worth.

Lastly, there is the Payment Calculator which takes information like vehicle price, interest rate, loan terms, down payment, and others, to return you an estimate of what kind of monthly payments you’ll be responsible for once entering into a lease deal.