Lethal Leases Through Month End!!!

Toyota has always been known for aggressive, low payment leases, thanks due in part to a strong financial arm and because Toyota's hold their value so much their residuals are comparatively high with competition and therefore leases tend to be the lowest on the market. However this month in particular the leases are lower than ever!

Toyota started off the month with extremely low money factors on nearly every model, for clarification a money factor (also called a lease factor) is the interest rate you are being charged. It is expressed as a multiplier that can be used to calculate your monthly payments. For example, 7.2 percent interest, when expressed as a money factor, is .0030. To convert a money factor to an interest rate, multiply by 2,400. To convert an interest rate to a money factor, divide by 2,400. (Always use 2,400 regardless of the length of the loan.)

Additionally, as alluded to earlier, the residual value is the leasing company's prediction of what the car will be worth at the end of the lease. The residual value is also important because it affects your monthly payment. The higher the residual, the lower your monthly payments. Toyota already has some of the highest residuals on the market, but in mid September, according to the Wall Street Journal "As part of its fourth-quarter push, Toyota will raise the projected resale value of its vehicles used in calculating monthly lease payments, said dealers briefed on the plan. That will enable Toyota to offer attractive rates at a time when some other auto makers have cut back on leasing."

Basically, the combination of the low interest rate with the increasing of already high residuals, really makes this the best time ever to lease a Toyota. Below is an ad we ran in the local paper, the New Castle News, that breaks down just how good the leases are right now!


(Click the image above to enlarge.)


(Click the image above to enlarge.)

Whatever people are selling, they are always saying that it's "the best time to buy," but my dad who has owned this Toyota dealership since 1989 literally said that these are some of the best leases he has ever seen! Plus at Preston Toyota we offer the area's largest selection of vehicles for you to to choose from, but act fast because these lease specials do end at the end of the month on 9/30/2009!