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Interestingly, you can switch your Toyota car lease to finance. Most lease contracts have a buyout option that allows you to buy the car either during the lease duration or at the end.
However, if you decide to convert the lease to finance before the lease ends, you’ll end up paying more than if you waited for the lease term to end.
The reason is that in addition to paying the buyout amount, you’ll have to pay the remaining monthly lease payments and the lease termination fees. Read on to find more about the Toyota financing buyout.
How Does It Work?
First of all, it is very important to do your math to find out if your decision will make financial sense, before deciding whether or not to switch.
When signing your lease contract, the lessor provides the buyout option by setting an estimated residual amount at the lease-end. That’s the amount you will have [...]