Thompson Toyota looks forward to helping you finance your next new vehicle at our Doylestown, PA dealership! Our financing team will help you secure a car loan in the Doylestown area, or a new car leasing option. We can even help you acquire an auto loan if you have no credit or bad credit. You can apply online for financing right now by using our finance application. To call us, you can reach us at 1-800 THOMPSON, or stop by our Toyota dealership at 122 W. Swamp Rd. in Doylestown, PA 18901 to speak to one of our financing specialists today in person.
122 W. Swamp Rd.Doylestown, PA 18901
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.