There are many benefits to a Toyota lease, like big savings and access to the latest models on the market. Here at Heritage Toyota Owings Mills, we’re sharing all you need to know about the vehicle leasing process, how to prepare, and what not to do on a lease, including the following.
Not Checking Your Credit Score
Credit is important no matter how you finance your vehicle, but especially if you’re leasing. To qualify for a lease, you’ll need a high credit score.
That’s why it’s a good idea to check your credit score before you begin the leasing process, so you know if it’s the best financing method for your specific budget and needs.
Not Considering Term Length
Most vehicle leases will last two to five years, but you really want to consider term length before you commit. That’s because there can be significant early termination fees for bringing your vehicle back before the term has ended.
It’s easier and less expensive to extend your lease than to terminate early, so always consider length carefully.
Not Checking Miles
Leases typically allow for 12,000-15,000 miles of driving per year for each year of the lease term. It’s extremely important to stay below those miles and not go over, as each extra mile can be very costly.
If you think you’re at risk of driving more than your allotted mileage for the year, be sure to contact your lease team in advance to ask for a mileage extension, so you don’t have to pay extra.
When you’re ready to find out the best Toyota financing method for your budget and next vehicle, Heritage Toyota Owings Mills is ready to help. Learn more about the benefits of leasing and how to get the most out of your leased vehicle at our dealership.
