Can't push lever down again to toast bread more

Since you don't mention the make or model number of the toaster or its age I can only make the following guesses.
It might be an electronic model. To test if this is the case, leave the toaster unplugged and push the lever of the toaster down. If it does not stay down it is an electronic toaster. If it stays down then it is NOT electronic.
The lights might be lighted push buttons.
If you plug the toaster in then put a slice of bread or two in and push the lever handle down and one light comes on then this is probably a dual purpose pushbutton. It indicates that the heating elements are on and if you push it will cancel the toasting cycle and the bread slices should pop up.
If there is a button beside the above button it could be for extending the toaster cycle time a bit longer to compensate for a thicker slice or a denser bread like a bagel. If you push it, it will light up to let you know that the cycle has been extended for this reason.
If there is a button beside this one, it could be for extending the toasting cycle to compensate for a frozen slice of bread or whatever, like a bagel or even a frozen waffle.
If you find the make and model for your toaster, it might be on the bottom somewhere, google it to see if you can download an instruction manual for it.
Hope this helps. Good Luck.

I have the same problem with some breads. Mine is also set up for bagels, and the bread goes further into the toaster. When it pops up, it then drops back down just enough where I'm not about to stick my fingers into the darn thing......sound familiar? The only thing that I've found that helps is that, when the toast pops up, and then drops back down, I lift up on the lever that you push down to start the toast, and I can lift the toast up about an inch, and safely remove it. Try this, and see if it works for you.
Best regards, --W/D--

The fact that pressing down the lever fails, means the toaster contact will not function and can not be repaired. Since a two slice toaster is only $15 at Target, why bother fixing a toaster?

mcdevito75 here, The lever mechanism could be worn OR the setting for darker / Lighter toast is set to Light, swtch to darker see if that helps.

For what it might cost to fix it buy a better brand of toaster for about 10% of the cost of this horrible brand.
You'll notice their new ones are "smart" toasters with NO LEVER. You push a button and the electronics takes care of the rest (and blow up quickly.)
$15 to $25 at Walmart.. instead of $100 to $200.

The heating resistor on the left side has shorted with the case. Since you don't know very much on electrical equipment (to fix it you would have to open it, remove the shorted piece of wire, reattach all and insulate them properly) and the price of a new item is low, just buy a new one and discard this one. You shouldn't use it again, under no circumstances - if you're unlucky it can kill you.

We ran into the same problem today with our toaster. There was never a problem before I cleaned it--not only by sliding out the crumb drawer, but by turning it upside down to dislodge every last crumb. After that, It would not stay down when pushed down.

My husband took the cover off and found that a magnet is what keeps the lever down when the toaster's on, and allows it to go back up when the toasting is done. It's an electro magnet that works only when the toaster is on. It seems that when I turned the unit upside down and rightside up again, crumbs landed on the magnet's contact plates (which are about 1/4" x 1/2") and would not allow the magnet to engage. Because the magnet wouldn't engage, the lever would not stay down, and the toaster shut off. Brush off the magnets, replace the cover and toast away!

if u need a manual for a toaster, then u r really in trouble...espcially for the amt of money u paid for it.
ok...
if u need instructions on how to use a toaster...here goes:
When:
A toaster is used to heat slices of bread, bagels, waffles, etc. to a hot, crispy consistency. Most toasters allow the user to set the toasting length to ensure the toasted bread comes out to temperature and crispiness to the user’s likes.
Where:
Toasters should be used on a flat, uncluttered surface near an electrical outlet but far from sinks, or running/standing water.
How:
To toast bread in a toaster, follow these instructions:

1. Place slices of toast, one each, in the slots on the top of the toaster.

2. Find the toast setting (a knob or lever) and adjust to the desired wellness of the toast. (Generally, there is a scale printed near the knob or lever ranging from light to dark toast).

3. Push down the toasting lever (moving the slices of bread down into the toaster between the heating elements.

4. When the toast is finished, the slices will “pop” up automatically.

5. Remove the toast from the toaster.
WARNING:
If the bread should get stuck inside the toaster, DO NOT PUT ANYTHING INSIDE THE TOASTER in attempt to dig it out. UNPLUG the toaster, turn it upside down and shake. If the toast does not fall out, use a plastic fork or knife to gently remove it from the toaster. Using metal utensils could damage the heating elements. NEVER stick anything in the toaster while it is plugged in.
*For further safety, it is recommended that the toaster be unplugged after each use.
I wish u luck and happy toasting.

Main problem with these is crumbs, they get stuck between the 2 surfaces of the small electromagnet that keeps the lever down, consequently it does not stick anymore, try drop kicking it in the drection of the garbage can, this sort fright may just scare it into working again.