Toyota, maker of the Camry, has started accepting lease agreements for the new vehicle, allowing the owner to sign one-year leases on the car for a total of $1,500.
The lease can last until March 31, 2020, when the vehicle is due for a major overhaul.
The Camry is being overhauled by the UAW and GM as part of the automaker’s effort to transform its fleet into a modern luxury vehicle.
The automaker said it was considering about 300 Camrys at its plant in Michigan.
The company has been negotiating with more than 200 dealerships to get leases on new Camrys and is working on the process for new Camry leases, spokesman John Biederman said in an email.
Toyota will be the first automaker to begin leasing a vehicle from a dealership, but the lease agreement format is a long way from standard leases.
The only car available with a standard lease option is a Lexus ES 350, which can be leased for $1.2 million a year.
But a Toyota spokesman said the company is not considering leasing its new Lexus in this format.
The spokesman said Toyota was not involved in the lease process for the Camrys.
The automaker is also trying to create a new lease format that would allow customers to pay for the car upfront.
Toyota wants to provide incentives for customers to sign a lease, according to the spokesman.
The first $1 million a customer spends on the new car would pay for a $500 deposit.
In 2019, the company said it expects that number to reach $1 billion.
The new lease agreements are similar to the ones it offers to its owners.
They can be signed up by the buyer at the dealership, or online at the company’s website.
The buyer must agree to pay the dealer $2,500 for the lease, and Toyota will cover the deposit if the lease is approved.