Let's pretend your toaster need a little fix. Pulling the lever down, it does not stay low and immediately jump to its rest position. Apart from this, manually keeping the lever down, toasts your bread as usual.
This is a very common failure on toasters. One putative fix is to open the toaster and search for the system responsible for the lever lock. It consists of a coil with ferrite core on the body of the toaster and an other ferromagnetic (or magnetic?) element on the lever.
The fix consists of cleaning both pieces. It is really surprising how this fixes many of the toasters with similar issues.
I am familiar with magnetism, ferromagnetism and so, but I don't really understand how cleaning both sides helps in the process. Does the two parts need to have a good contact? For electric contacts it would help, but for magnetic contact, do you need a good contact?