Lease a Toyota Corolla for $149
During the month of May 2010, Toyota is offering some outstanding car lease deals. The deals end on June 1, 2010.
For example, the Toyota Corolla LE with lots of extra equipment and options is being offered for $149 a month. This is a 36 month lease, 36,000 total miles allowed, and $1999 is due at lease signing. The $1999 includes a $1200 down payment, first month’s payment (standard in leasing), and a $650 acquisition fee (standard in leasing).
If you cannot afford the $1200 down payment, you can pay less but, of course, the monthly payment amount goes up. For example, if you can only afford $500 down, the payment goes to $169. If you can afford no down payment (but still pay the first month’s payment and the acquisition fee), the monthly payment goes to $182.
How can Toyota offer such great lease deals?
First, the price of the car has been discounted about $2000. Second, the lease-end residual value has been set much higher than normal, and finally, the lease money factor is .00002, which is equivalent to a very low 0.5% APR interest rate. The combination of these three things makes for a very low monthly lease payment for this excellent automobile. It just doesn’t get much better.
If this explanation doesn’t make sense to you and you don’t understand car leasing, we recommend strongly that you learn how leasing works before you decide to lease. We suggest LeaseGuide.com, one of our sister web sites.
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