Finance or Lease?
The choice is yours – It’s as simple as…
The decision to finance or lease a vehicle is often a matter of personal preference. You know that if you finance your vehicle, you own it and can enjoy all the benefits of ownership, but what about leasing? In order to help you decide which is best for you, here are a few things that you should know about leasing.

Wear Pass Plan
Protect yourself against unexpected excess wear and tear charges on your leased Toyota with the Wear Pass plan. Designed for protection against damage beyond what is considered normal everyday use, the Wear Pass plan ensures that you do not face extra charges at lease end. For details on what type of damage is covered and to answer any questions you may have on the Wear Pass plan, please contact your Toyota dealer. The Wear Pass plan is designed to provide peace of mind when leasing a vehicle, with the knowledge that you are protected.

Leasing advantages:

  • Leasing typically provides for lower monthly payments and lower up-front
    costs than you would pay on a loan for the same vehicle
  • When you lease, you only pay tax on the monthly payment. When you finance,
    you pay taxes on the full purchase price of the vehicle
  • Leasing gives you choices at lease end:
    1. You may purchase the vehicle at the Lease End Value indicated on your
    2. You may return the vehicle as provided in your lease
    3. You may lease or finance another Toyota vehicle
  • Toyota Financial Services offers convenient financing and great rates should
    you choose to purchase the vehicle at the end of your lease.

Leasing disadvantages:

  • You do not own the vehicle
  • You do not build up equity in the vehicle
  • Excess kilometre and wear and tear charges may apply
  • Lower monthly lease payments may result in higher carrying charges than a

Click here for lease vs. finance comparison