Leasing a Toyota car, truck or SUV has never been more popular than it is right now. Obviously, the quality and reliability of Toyota vehicles is the centerpiece of the automaker’s leasing program, but the flexible options that are available to lease holders also help customers decided to continue leasing one of the manufacturer’s popular vehicles. The team of financial experts put together this handy guide outlining some frequently asked questions about end of lease information for Toyota vehicles near Milford, CT. Every person holding a Toyota lease will have the same four choices to make. Each one of them has pros and cons.

If you have any additional questions after reviewing the information contained below, make an appointment with a Colonial Toyota representative today by calling, 203-286-5500.

Option 1: Purchase or lease a new Toyota Vehicle

The most popular option facing a Toyota leaseholder is also the most obvious one, when your lease fully matures, you can come to the showroom to drop off your current vehicle and drive home in a freshly leased sedan, hatchback, truck or crossover SUV. Has your situation changed? Maybe leasing is no longer the best choice? This is also when you can choose to purchase a new vehicle from Colonial Toyota. Some buyers could also be eligible to have some lease-end fees waived or other financial incentives when they stick with Toyota after completing their lease.

Option 2: Keep your toyota vehicle forever

You picked the vehicle you leased for a lot of good reasons. When your lease term is over, there is no reason you need to completely start from scratch. If you want to keep the Toyota model you’ve been driving for the last few years, you can absolutely do that. All lease paperwork will have a buy-out price listed. When the term is over, that’s how much it will cost to keep it. If you need help coming up with some financing, Colonial Toyota can assist you in finding the help you need. There may be some attractive incentives available to qualified customers through Toyota Financial Services.

Option 3: extend my lease for a while longer

Are you the type of person who doesn’t like to interrupt things that are working just fine? We can totally understand this desire to hold on to some kind of consistency. If you like your vehicle and your lease agreement, you have the option of extending it. You will need to contact the leasing company who owns the vehicle and work out a few things with them. However, if your vehicle was leased through Toyota Financial Services, call 800-874-8822.

Option 4: Walk away after the lease ends

Once your lease ends, you are free to do whatever you would like to do next, including simply walk away. Before you turn in your leased vehicle, you’ll need to make sure it goes through the lease-end inspection process. We recommend doing this a few weeks before you plan to turn it in to us. That way you can fix any damage that might have occurred, which could unexpectedly cost you extra money at the time of lease closing. Additionally, if you went over on your lease agreement’s miles, you would need to pay for that as well.

Do I have to return my car to the same dealership?

Life has a way of getting in the way of the best laid plans. One of the best parts of the Toyota leasing program is that any authorized Toyota dealership can help walk you through the options we laid out above. To put it more clearly, it doesn’t matter if you didn’t originally lease your Toyota vehicle from Colonial Toyota, we can easily handle taking care of the lease-end paperwork and guide you toward whatever you would like to do next.

We understand that this is a lot to think about. If you have any additional questions that weren’t covered on this page, please reach out to us as soon as possible. Call 203-286-5500 to speak to a qualified Colonial Toyota representative, today.