Toyota Of Somerset Finance Center
Toyota of Somerset takes the stress out of auto financing. From advice on whether to buy or lease to finding the best rates available, our finance team will work with you every step of the way to craft finance terms that work for your lifestyle and budget.
We Make it Easy!
Should You Lease Your New Toyota of Somerset Vehicle?
Leasing is a great choice for shoppers who like to drive a new vehicle and want to keep their payments low. Once your lease term is up, you can trade up for a newer model, buy it outright, or simply return it and walk away when the lease it over.
Benefits of Financing
Customers who intend to hold onto their vehicle for a while should consider a loan. Our flexible financing plans can get you into a new or used vehicle with terms that will reduce your overall costs while you build equity in your vehicle.
Flexible Credit Options
Toyota of Somerset can help you get into the new or used vehicle you deserve. With monthly specials, factory offers, and competitive rates, we go the extra mile to give you the options that work for your lifestyle.
Frequently Asked Questions
This important choice comes down to your monthly budget and how you expect to use your vehicle. Leasing typically comes with a lower monthly payment than a traditional loan, but there are restrictions on mileage and customization. On the other hand, a loan may be associated with a higher payment but you will be building equity and will spend less over the life of the vehicle.
We will work with you to craft the deal that works for your budget. Most loan terms will fall between 48-72 months, with longer financing terms resulting in lower payments.
We’ve worked with countless customers with all kinds of credit to help them discover their financing options.
In most cases, we can offer financing with no down payment. We can also roll taxes, registration, and fees into the financing deal if that works best for you.
Ready to begin?
Loans vs. Leasing
You could also end up with a great vehicle by leasing one from Toyota of Somerset. When you lease from us, you basically rent the vehicle for a specific time period, such as three to four years. Your monthly rent payment typically equals what a monthly car payment does.
While you don't save money on the monthly payments, you don't have to make a down payment, and you return the vehicle for a new one of your choice if you decide to continue your lease.
Your lease comes with mileage limitations though similar to renting a vehicle short-term. You may also have other usage restrictions, such as no international driving. You also cannot modify the vehicle in any way.
Conversely, when you purchase a vehicle, you make a payment each month and when you pay it off, you own the car. While you make payments, you can drive it as often as you like and modify the vehicle any way you like.
When you lease, your vehicle has no value toward your next vehicle when the lease ends. When you purchase the vehicle though, you can either trade it in for cash toward your next purchase or resell the vehicle.
When you lease, you won't have financial assistance. You'll need to come up with the monthly payment each month and won't enjoy any missed payment forgiveness.
When you purchase a vehicle, you can take out a loan to cover the entire purchase. Depending on how long the loan terms stretch, you could enjoy up to 82 months to pay it off though most auto loans only last for 72 months. If you want a shorter loan term, you can make a larger down payment or trade-in your existing vehicle.
Financing a Toyota Vehicle at Toyota of Somerset
Our Toyota dealership serves the Richmond, KY area with a wide array of vehicles, and our finance center helps you drive home your favorite. Toyota of Somerset works with you, so you can stick with your budget and still drive home the car you need. Our friendly, professional finance team works with you to make the car buying process simple. We also offer a flexible lease program that lets you enjoy the vehicle you like on a shorter-term basis.
Toyota of Somerset Serving the Oneida, TN Area
At our dealership, we serve the entire Lexington, KY area, so don't have to reside in Somerset, KY to qualify for one of our loans or to lease from us. At Toyota of Somerset, we also sell to out-of-state residents. Contact our finance center to apply for a loan. We can work with you with your bank said no. Our finance partners want to help you obtain the vehicle you need.
You don't have to wait to drive home in the car, truck, SUV, or van you need. Contact Toyota of Somerset today to learn more about completing our loan application or lease application. Visit our auto lot today to speak with one of our lease or finance representatives and get the process started. Let us help you drive home the Toyota you want and need today.
Your privacy is important to us.
Toyota of Somerset takes your privacy seriously and does not rent or sell your personal information to third parties without your consent. Read our privacy policy.
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Toyota of Somerset
4195 South Highway 27
Somerset, KY 42501
- Sales: (606) 679-1601
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