Congratulations! You've come to the end of the lease term on your current car, truck or SUV and now you're ready to lease or finance a newer, better Toyota.
Our Peoria Toyota Dealership Buys The Car From The Leasing Company
Larry H. Miller Toyota Peoria will pay off the balance of your old lease and purchase the vehicle to add to our used car inventory. You will then receive trade-in credit for your previously leased vehicle and the difference will be applied to your new lease or purchase. If your vehicle's lease pay-off amount is higher than the credit you receive, the deficit, or "negative equity," will be rolled into your new lease or purchase. If your pay-off amount is lower, however, the difference will be subtracted from your new lease or purchase and treated as a down payment. All these calculations are detailed in an easy-to-read format in your new lease or purchase contract.
Lease Trade-In Planning & Preparation
- Compare your current leased vehicle's trade-in value to its "residual value"
- Obtain the payoff amount left on the existing lease contract
- Ask your Toyota sales professional to go over your trade in options
Contact A Toyota Leasing Specialist
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