Auto Financing FAQ's in Berkeley, CA

What financing options does Toyota of Berkeley have?

We offer numerous financing options such as auto loans from Toyota Financial Services and other established lenders. Flexible lease opportunities are also provided to qualified buyers.

Can you finance a Toyota with bad credit?

Yes. We work with a variety of lenders and help customers with all types of credit. Rebuilding or beginning, we will help you find options that fit within your budget.

Is buying or leasing a Toyota a better option?

It depends on your needs. Buying is good if you plan to keep the car for many years or use it a great deal. Leasing might be good if you want lower monthly payments and enjoy driving a new car every few years.

What are the key differences between leasing and buying a car?

• Ownership: You are the owner of the car when you buy it; when you lease, you return it at the lease's end.
• Monthly Payments: Leasing payments are usually lower than loan payments.
• Mileage: Leases have mileage limits, but purchased cars do not.
• Customization: Leased vehicles must be returned in the same condition that they were in when leased, but purchased cars may be modified.
• Equity: Buying generates equity; leasing does not.

Can I switch from leasing to buying later?

Yes. Other customers simply want to lease and then buy the vehicle at the end of the term of the lease. This is known as a lease buyout, and it is a very good way of keeping a car that you have grown to like.

How do I apply for financing?

You can start by filling out our safe online finance application. You may also visit Toyota of Berkeley in person and speak with one of our finance experts for your face-to-face assistance.

Can I be pre-approved for a loan?

Yes. Pre-approval lets you know your budget and can make the purchasing process easier. Pre-approval can be completed online or at our showroom.

Do you offer financing for new and used vehicles?

Yes. We provide financing on new Toyotas and our large used car stock so that you have choices regardless of your budget or preference.

Can I trade in my current vehicle?

Yes. Trade-ins are accepted and applied to your down payment or lease. Our team will provide you with a reasonable appraisal based upon current market values.

What do I need in order to finance a car?

You'll typically need a current driver's license, proof of income, address information, and insurance information. Additional documents may be required based on your particular credit history.

Are there any promotions that require special financing?

Yes. Toyota of Berkeley offers recent college graduates, military, and first-time buyer programs. These may include special incentives or terms—contact us for details.

Can I finance my current automobile loan?

While our focus is on new leases and loans, we may be able to help you with refinancing through one of our financing partners. Call our finance department for details.