Top Toyota Deals & Must-Know Advice In November

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Automotive Analyst

Kelly Campbell is a SoCal native with a background in marketing, communications, and technical writing. Having spent her entire career in the automotive industry, Kelly brings a wealth of knowledge and enthusiasm for cars to her role as an Automotive Analyst at CarsDirect.

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, Automotive Analyst - November 6, 2020

Toyota's incentives see a few enhancements in November. In terms of leasing, Toyota has rolled out some 39-month leases which have made them a particularly good deal. For example, the 2021 Corolla LE now starts at $189/month, $10 cheaper than what we saw in October and the cheapest payment in the lineup.

For those who prefer to finance, Toyota's 0% APR deals continue on select models. In the case of the 2020 C-HR, buyers have the option between 0% APR for 60 months or $1,750 in rebates. Unfortunately for newer models like the 2021 RAV4 and Highlander, APR increases to 1.9%.

Offers from Toyota vary by region and expire November 30, 2020. Examples listed below are for Southern California unless noted otherwise.

Top Toyota Lease Deals, Financing Incentives & Rebates

Model Best Toyota Lease Deal Best Toyota Financing Deal Best Toyota Rebate
Toyota Corolla
Toyota Corolla
Lease from $189/month (2021 Corolla) 0% APR for 60 months (2021 Corolla) Up to $1,000 (2021 Corolla)
Toyota Camry
Lease from $229/month (2020 Camry) 0% APR for 60 months (2020 Camry) Up to $1,500 (2020 Camry)
Toyota RAV4
Toyota RAV4
Lease from $279/month (2021 RAV4) 1.9% APR for 60 months (2021 RAV4) Up to $1,000 (2021 RAV4)
Toyota Highlander
Toyota Highlander
Lease from $369/month (2020 Highlander) 0% APR for 60 months (2020 Highlander) Up to $1,750 (2020 Highlander)
Toyota Tacoma
Lease from $270/month (2020 Tacoma) Contact a dealer for offers Contact a dealer for offers

Explore the full Toyota lineup »

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Must-Know Advice For Toyota Buyers

Smaller discounts than competitors. Toyota tends to offer a nice range of incentives for buying & leasing. Expect to see the best deals on sedans like the Corolla, especially when it comes to leasing. In contrast, SUVs like the RAV4 tend to sell well without big incentives. Meanwhile, competitors like the Chevy Equinox sometimes tout over $5,000 in discounts.

Where to find the best prices. Like a handful of other mainstream brands, Toyota doesn't allow its dealers to advertise prices below invoice. As a result, you may need to reach out to your local dealer to be presented with the lowest possible price. In some cases, you may find that working with a larger dealer translates to the best savings. Try checking with multiple dealers for the best results.

Not all models are easy to find. Toyota cars that often prove hard to find include the Yaris, Prius, and Avalon due to lower demand. In addition, while the brand continues to offer an impressive range of hybrids with lower prices than in past years, vehicles with a gas engine remain the easiest to find.

Certain Toyotas like the Tacoma pickup have a strong following and can command prices at or close to MSRP. That could be surprising for some shoppers considering competitors often feature big rebates. The fact that the Tacoma sells quickly may require buyers not to hesitate on a purchase.

A national inventory shortage associated with COVID-19 is making it especially tough to find Toyotas. As a result, you may need to consider a broader range of colors and styles because we don't expect availability to improve dramatically anytime soon.

Free maintenance bonus. Toyota is one of the few brands that still offers free maintenance. Every model includes 2 years of ToyotaCare, which includes both routine maintenance and roadside assistance. Looking to extend that for an additional length of time? Check with your dealer about adding coverage.

College grad discounts. Recent college grads should be sure to ask about the Toyota College Grad Rebate. It features up to a $750 bonus that can be combined with most other offers, although you'll have to finance or lease your vehicle in order to get it. Higher-demand pickups like the Tacoma are eligible for this incentive, too.

Certified car discounts. The Toyota Certified Pre-Owned Program offers the added value of a warranty on factory-certified cars & trucks, as well as access to special rates we sometimes highlight in our monthly coverage of the best CPO offers. As the saying goes, good new cars often translate to good used cars.

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, Automotive Analyst

Kelly Campbell is a SoCal native with a background in marketing, communications, and technical writing. Having spent her entire career in the automotive industry, Kelly brings a wealth of knowledge and enthusiasm for cars to her role as an Automotive Analyst at CarsDirect.

Follow On: Twitter

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