Lease Return

[65sohc]

My lease expires next March and I plan to buy it. When I go into my Toyota account it says the payoff as of today is ~33,000. Does anyone know if this is plus the remaining monthly payments or is this it? I know I could ask the dealer but I avoid dealer contact as much as I can.

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[SuupYota]

I believe this is the amount, as of that day, if you were to buy it out. You don't THEN include the remaining payments/months, this amount reflects total sum. The amount will go down the closer you get to yr lease end date, depending on what your monthly payments are.

 

[Jcabanawan]

the payoff showing is your lease buy out price. all you have to do is finish your last payment call the leasing company and they will instruct you on your end of lease responsibilities.

 

[65sohc]

the payoff showing is your lease buy out price. all you have to do is finish your last payment call the leasing company and they will instruct you on your end of lease responsibilities.

So that was my question. I have about $2650 in payments remaining. So, to buy it today would it be $33,000 plus $2650?

 

[65sohc]

The only reason I was asking is because the trade in value is $52,000. Just curious.

 

[razorlab]

The only reason I was asking is because the trade in value is $52,000. Just curious.

Welcome to the side of leasing that works well. Don't tell people, everyone thinks leasing is for dumb dumbz because someone else said so. Probably another dumb dumb.

 

[XtremeMaC]

if Toyota Financial is telling you that today's payoff is 33K then it is not including 2650 or asking for it.
You'd pay 33K if you go to the dealer right now, I believe plus applicable sales tax.

 

[65sohc]

Little did the dealer realize when the residual was determined almost three years ago that the car would be worth more now than when I leased it. I got it for $5000 below msrp.

 

[Evolution]

Little did the dealer realize when the residual was determined almost three years ago that the car would be worth more now than when I leased it. I got it for $5000 below msrp.

Same deal here. I went with a 2 year lease though and got $6700 off msrp (2 year was a better return than 3). I think they said payoff is around $40k when my lease is up in March. I will gladly be buying the car back.

 

[Jcabanawan]

Another option is trade the car in for its current value or sell it and get a check back for difference in your payoff and what you sold the car for. You have a few options…

 

[MoTeC_R]

I’ll take it off your hands for 33k + 2650

Interest rates suck right now unfortunately.

 

[Tsar]

You don’t have to deal with the dealer to buy it. You can deal directly with the lessor (I did). Call and ask them for the total payoff price and they should send you a letter/email. That should include all the charges. You cut them a check and they send you the title.

Great way to avoid any dealer BS and extra processing fees. (All applicable fees and buy out price are listed in your lease.)

 

[Evolution]

Another option is trade the car in for its current value or sell it and get a check back for difference in your payoff and what you sold the car for. You have a few options…

My car is too far modded to return it to stock and turn it in.

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