Need a car loan for that new Toyota? Toyota of Braintree has a great finance team that will work with you to get the lowest interest rate possible. We make it easy and hassle free to get a car loan in Braintree.
Our staff will be with you every step of the way as we create a finance plan that fits your lifestyle. Browse our new Toyota and used car pages to see our full line of vehicles. You can start the car loan process by filling out the Online Finance Form or you can always call us directly.
210 Union Street
Braintree, MA 02184pause
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.