Toyota Corolla Leases
When it comes to financing your new Toyota Corolla, it’s important to know what kind of options are available to you. Leasing is an attractive option for many drivers and at Daytona Toyota, we’ve written up this review of what to expect from a lease. We’re looking out for our friends and neighbors near Daytona Beach, Palm Coast, Ormond Beach, and New Smyrna Beach, FL.
The Toyota Corolla at a Glance
|
EPA-estimated MPG |
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30 city/38 highway/33 combined1 |
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Engine |
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1.8L 4-cylinder DOHC |
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Output |
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139 horsepower |
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Transmission |
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Continuously Variable Transmission (CVT) |
The Benefits of a Toyota Corolla Lease
A lease is a great option for when you want the power and performance of a Corolla, but don’t want to adhere to a lifetime commitment. Through leasing, you’ll be able to enjoy the benefits of having a car without the responsibility of ownership. The strengths of a lease will give you a sense of confidence as you drive home in your Corolla.
You’ll begin to experience those benefits near immediately once the paperwork is signed and processed. The first, and pretty great, benefit is that you might encounter a lower down payment. This is due to some lease dealers not having an explicit requirement for out-of-pocket expenses. You’ll be saving money at the beginning of the leasing journey.
A superb advantage is that with leasing, you’ll possibly experience lower monthly payments. This is a clear example of the many ways a lease is designed to save you money over its lifespan. And with lower payments, you’re given the opportunity of investing into other lifestyle goals.
The last major benefit is geared towards drivers heavily interested in technology and other features. Considering the lifespan of a lease is usually short, two to three years as an example, it allows you to experience the cutting-edge technology and hardware in newer models.
What to Do Once Your Corolla Lease Ends
As mentioned above, leases are generally short. This means you get to experience a Corolla without the responsibilities of ownership. However, when the end comes, you have a few different options to choose from, keeping in mind that the following are subject to personal preference, needs, and your current lifestyle.
For many drivers, when the lease contract is up, they’ll simply return the vehicle to the dealership that they held the lease with. However, out-of-pocket expenses might occur if the dealership decides you’ve gone over the allotted miles or have extensive wear and tear. Once you’ve paid, you’re free to go, or you can enter into a new lease.
A different option is available as well in buying the vehicle outright. You might have become fond of it over the course of your lease, or just that it’s compatible with your lifestyle and needs. In order to buy, you’ll need to buy it at residual value. What that means for you is a price point lower than the book value.
Finally, you have the option of re-leasing your current vehicle. What this does is allow you to extend your current lease for a set period, or a straightforward re-leasing. Taking the latter option, you’ll be working with essentially a used-car lease, which has the possibility to positively affect monthly payments.
Schedule Your Test Drive Today!
Now that for our friends and neighbors near Daytona Beach, Palm Coast, Ormond Beach, and New Smyrna Beach, FL, have had an opportunity to read our review of leasing options, it’s time to take the next step.
Schedule your Toyota Corolla test drive at Daytona Toyota today!
1 Projected EPA-estimated mpg rating 30 city/38 highway/33 combined estimates for 2022 Corolla L, LE, SE Apex; projected EPA-estimated mpg rating 29 city/37 highway/32 combined estimates for 2022 Corolla XLE; project EPA-estimated mpg rating 29 city/36 highway/32 combined estimates for 2022 Corolla SE 6MT; projected EPA-estimated mpg 31 city/40 highway/34 combined estimates for 2022 Corolla SE CVT and SE Nightshade; projected EPA-estimated mpg rating 28 city/35 highway/31 combined estimates for 2022 Corolla SE Apex 6MT; projected EPA-estimated mpg rating 31 city/38 highway/34 combined estimates for 2022 Corolla XSE; projected EPA-estimated 53 city/52 highway/52 combined estimates for 2022 Corolla Hybrid LE. All projected EPA estimates as determined by manufacturer; EPA estimates not available at time of posting. Use for comparison purposes only. Your mileage will vary for many reasons, including your vehicle’s condition and how/where you drive. See www.fueleconomy.gov.
| Monday | 8:30AM - 8:00PM |
| Tuesday | 8:30AM - 8:00PM |
| Wednesday | 8:30AM - 8:00PM |
| Thursday | 8:30AM - 8:00PM |
| Friday | 8:30AM - 8:00PM |
| Saturday | 8:30AM - 7:00PM |
| Sunday | 11:00AM - 6:00PM |
| Monday | 7:00AM - 6:00PM |
| Tuesday | 7:00AM - 6:00PM |
| Wednesday | 7:00AM - 6:00PM |
| Thursday | 7:00AM - 6:00PM |
| Friday | 7:00AM - 6:00PM |
| Saturday | 7:00AM - 4:00PM |
| Sunday | Closed |
| Monday | 7:00AM - 6:00PM |
| Tuesday | 7:00AM - 6:00PM |
| Wednesday | 7:00AM - 6:00PM |
| Thursday | 7:00AM - 6:00PM |
| Friday | 7:00AM - 6:00PM |
| Saturday | 7:00AM - 4:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 6:00PM |
| Tuesday | 7:30AM - 6:00PM |
| Wednesday | 7:30AM - 6:00PM |
| Thursday | 7:30AM - 6:00PM |
| Friday | 7:30AM - 6:00PM |
| Saturday | 8:00AM - 12:00PM |
| Sunday | Closed |