ToyotaTown | London, Ontario
OpenRoad Leasing
We lease used cars the same way we lease new ones.
Explore used car leasing in London with OpenRoad Leasing at ToyotaTown. Browse pre-owned vehicles, compare your leasing options and find a fit for the way you drive. Prefer something new? We can help you explore new Toyota leasing as well.
More ways to drive
Can I lease a used car in London?
Yes. ToyotaTown offers used car leasing here in London, Ontario through OpenRoad Leasing. Availability and terms depend on the vehicle and your approved application.
OpenRoad Leasing
Why lease a pre-owned vehicle?
From managing your monthly budget to planning your next vehicle, leasing gives you another way to drive. Explore the financial and lifestyle benefits with ToyotaTown.
Financial
advantages
- Lower payments and more room in your budget. Lease payments may be lower than financing payments over the same term, leaving more money available for other priorities.
- Pay for the portion you use. Payments generally cover expected depreciation during the lease, plus financing charges, taxes and fees, rather than paying off the full vehicle price.
- Plan around an agreed end value. Your agreement sets the residual value upfront. With a closed-end lease, you generally aren’t responsible for a resale-value shortfall at the scheduled end of the term, subject to the agreement’s conditions.
- Potential benefits for business use. Business-related lease expenses may qualify for tax deductions. Your accountant can explain the rules and limits that apply to your situation.
Flexibility
& lifestyle
- A vehicle that fits your next chapter. When your lease ends, you can explore a different vehicle to suit a growing family, a new commute or changing interests.
- Access to newer features. Leasing can make it easier to change vehicles every few years and explore newer technology, comfort and safety features.
- Consider remaining warranty coverage. A newer pre-owned vehicle may still have warranty coverage to help with covered repairs. Coverage varies by vehicle and may not last for the full lease term.
- Choose your next step at lease end. Return the vehicle under your agreement’s conditions, explore another lease or ask about buying the vehicle you already know and enjoy.
Our group. Your local team.
The OpenRoad connection.
ToyotaTown is part of OpenRoad Auto Group, with dealerships across British Columbia and Ontario. OpenRoad Leasing offers an effective way to drive a pre-owned vehicle to our customers in London.
Tell us what you’re looking for, and we’ll help you with the next steps.
Plan for what comes next
What happens when your lease ends?
Your next step depends on your agreement. We’ll help you review the choices before the end of your term.
Here in London since 1970
A local place to ask your questions.
Visit ToyotaTown at 1065 Wharncliffe Road South in London, Ontario. Whether you’re starting your search or already have a vehicle in mind, we can help you take the next step. We welcome our neighbours from St. Thomas, Strathroy and nearby Middlesex County communities.
A few things you might be wondering
Car leasing questions, answered.
Can I lease a used car at ToyotaTown?
Yes. Our team can walk you through your options, eligibility and current in-stock vehicles. Leasing is subject to credit approval and program terms.
What determines my used car lease payment?
Your payment depends on factors including the vehicle’s price, interest rate, lease length, amount paid upfront and residual value - the value set for the end of the lease. Your quote will also reflect applicable taxes and fees.
Why can lease payments be lower than financing payments?
Lease payments generally cover the vehicle’s expected depreciation during the lease, plus financing charges and applicable taxes and fees. You’re not paying off the full vehicle price, which can mean lower payments than a purchase loan over the same term. Lower payments don’t necessarily mean a lower total cost, especially if you choose to buy the vehicle when the lease ends.
Can I choose my payment schedule or prepay my lease?
Ask about available payment schedules and prepaid lease options. Depending on the program, monthly, biweekly or weekly payments may be available, along with a prepaid or single-payment lease. We’ll confirm which options apply to your vehicle and explain how they affect your upfront payment and total lease cost.
How many kilometres can I drive with a used car lease?
Your agreement sets the kilometre allowance and any charge for exceeding it. Tell us how much you expect to drive each year so we can review suitable options before you sign.
Is protection available for excess wear and tear?
Optional excess-wear protection may be available to help cover certain wear-related charges when you return your vehicle. Coverage, exclusions and limits vary by program. Ask us what’s included, what it costs and which charges remain your responsibility. Don’t assume excess-kms charges are covered.
Can I ask about leasing for my business?
Yes. Tell us about your business, the vehicle you need and how it will be used. We can review available leasing options and application requirements. Your accountant can advise you on the tax treatment for your situation.
Your next step
Found a vehicle you like?
Let’s talk leasing.
Browse ToyotaTown’s used inventory online or better yet, stop in and browse our inventory in person.
Vehicle availability, leasing eligibility and programs are subject to change. All leases are subject to credit approval and the terms of the signed agreement. Contact ToyotaTown for current details and a vehicle-specific quote.