Interested in Leasing a Toyota Rav4? Here’s What You Need to Know

in Financing and Leasing
White Rav4

Source: Pixabay

The Toyota Rav4 is a compact crossover SUV that many swear by in their lives. If you are hunting for this car, you might wonder about the payment methods available to you. Leasing is a popular option, but not many know about it. What do you need to know about leasing a Toyota Rav4?

Keep reading to learn more about leasing a Toyota Rav4. There are many things to consider, and we will go over a few of them to give you a better idea of the leasing process of this vehicle.

What is the Average Cost to Lease vs. Buy?

Before taking a step and purchasing the Toyota Rav4, it is vital to understand the various costs that go into each one. The monthly payments for buying the car are much different from those utilized when a driver wants to lease the Toyota Rav4.

According to cars.usnews.com, the average monthly costs for each of these include:

  • To buy for three years: Around $360 a month
  • To lease for three years: Around $260 a month

These are the average costs that you will need to pay a month for your car with both leasing and buying.

To lease is the cheaper option by nearly 100 dollars. If you are staying below four years with your lease, you will be saving money rather than giving it away.

However, it is critical to note that the price will break even as time goes on. Eventually, after four years or so, it will become more expensive to go with leasing a Toyota Rav4 than it is to buy one.

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Pros and Cons of Leasing the Toyota Rav4

Both good and bad qualities come with the decision to lease a Toyota Rav4. It is vital to be familiar with both of these, so you can determine whether buying or leasing is the correct choice for you.

Read on to learn more about a few of the pros and cons that occur with leasing a Toyota Rav4. Once you understand these, you can make an educated choice for your funds.

Pros of Leasing the Toyota Rav4

Many pros come with leasing a Toyota Rav4. These are vital to understand, as they will help you make the best possible choice when investing in a new car.

According to downeasttoyota.com, a few of the good things that can come with leasing a Toyota Rav4 include:

  • Low down payment
  • The ability to drive above your means

These come with leasing a Toyota Rav4. 

Keep reading to learn more about each of these pros, and how they might impact your decision to lease a Toyota Rav4. There is plenty of good that comes out of this decision.

Lower Monthly Payments

Leasing a Toyota Rav4 provides lower monthly payments than if you were to purchase the vehicle for yourself. Those who want to be frugal can look at this as an option to save on a mode of transportation. Sometimes, the monthly difference can be as large as hundreds of dollars.

Of course, there is a break-even point. The longer you are paying a lease, the more practical purchasing becomes. Leasing for three years is the sweet spot that permits you to avoid losing money.

Access to a Brand-New Vehicle

When you lease, you are still getting a brand-new vehicle despite the lower cost. You don’t own the car but you can drive around a new model without paying the same price as those who invested in the car rather than leasing a Toyota Rav4.

If you want to drive something as beautiful as it is affordable, leasing a Toyota Rav4 is an excellent choice for you. You will have to return it, but then you can begin a new lease on another car that is just as pristine.

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Cons of Leasing the Toyota Rav4

As with any item, there are a few cons that come with leasing the Toyota Rav4. These are just as vital to understand. Comparing the cons with the pros will assist you in making the best possible decision.

According to jpauleytoyota.com, some of the cons that come with leasing a Toyota Rav4 include: 

  • Potential mileage fees
  • High insurance costs

These are a few of the bad items that come with leasing a Toyota Rav4.

Read on to learn more about the negatives of leasing a Toyota Rav4. There are plenty of good things, but there are also many that are not-so-good.

Potential Mileage Fees

Many leases require the driver to stay under a certain amount of miles when they drive the car. It’s all too easy to go over this number. If you do so, you will be charged extra mileage fees when you return the truck.

If you work far away from your home or like to travel, leasing a Toyota Rav4 is probably not for you. You need a vehicle that has no limits on the distance it is welcome to take passengers.

Occasional High Insurance Costs

Occasionally, manufacturers will push high insurance costs along with leasing a Toyota Rav4. Although these can come in handy, they also raise the overall price of the lease significantly. Skyrocketing insurance costs might make leasing a Toyota Rav4 unattainable. 

If you want to lease, ensure you check to see what insurance costs will be given to you when you sign the papers. Outlandishly high prices will not be beneficial if you are seeking a simple lease.

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Conclusion

The Toyota Rav4 is a powerful vehicle that many want to get their hands on. If you decide to go with leasing a Toyota Rav4, you will gain access to this car without committing. Leasing a Toyota Rav4 opens up a world of affordable possibilities.

Leasing is worth it if you do it for a short time. It’s also ideal for those who want to try out many cars and avoid paying for them in full. If you are on the fence, leasing a Toyota Rav4 is an excellent idea.

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