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Barrister, Attorney
Category: General
Satisfied Customers: 34360
Experience:  16 years practicing attorney, Realtor, 26 years landlord
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Im one year into a three year lease on a 2012 Toyota Camry.

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I'm one year into a three year lease on a 2012 Toyota Camry. My contract says at the end of 3 years I can buy the car for $16,000. What would my monthly payment be (approx.) with a 3-year loan? Would Toyota Finance usually make the loan or do I search myself? I know it's tough to guess interest rates in 2 years but I guess I'm asking the question at today's rates. Would it be a used car loan at that point?
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
If you were able to get a loan at 5%, which is typical for used vehicles currently, then you would be looking at a payment of $479.53 for $16,000 for a 3 year term.
If you have made all your lease payments on time, Toyota Financial Services, TFS, will typically agree to finance the purchase directly.
And yes, once the vehicle was originally leased, it becomes a used car.







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Customer: replied 3 years ago.

What do you show for 4-year monthly payment?

Keeping all the other factors constant...4 years is $368.47...5 is $301.94
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