Cash for Clunkers: Toyota

The rules for Cash for Clunkers (aka CARS or C4C) were released today, and early feedback is mostly from dealers who are reporting long web-waits to get registered via NHTSA's online process. Following Chrysler and BMW, one of the latest promos to come out in relation to C4C is from Toyota, who would like to remind everyone that 25 Toyota models (including the whole Scion lineup, every Toyota passenger car, most of their trucks and even several Lexus models) are qualifying purchases under the program. With the official rules of Clunkers just being made available this morning, and the program officially kicking off next Monday (July 27), all parties involved are expected to be fully up to steam by next weekend. Clarified in the 136-page document is the fact that you can lease a car under the program, but that the minimum lease term is five years (60 months). To help you take advantage of the program, a number of Toyota models will be eligible for special 60-month leases, and we checked out some numbers after the jump. Depending on where you live, up to five Toyota models will be offered with 60-month leases: Yaris, Corolla, Camry (non-hybrid), RAV4 SUV and the Tacoma pickup. You can use the handy Payment Calculator on the accompanying site to estimate your monthly payment, and as you can see (below), the difference between leasing a Yaris and owning it after 60 months is pretty small, and one of the reasons Edmunds does not recommend lease terms longer than three years. For information on which Toyota deals and leasing rates are available in your "region" click here. source : http://blogs.edmunds.com

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