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Smart Shopper Lease Termination Fees and other costs
1038 messages, Last post on Nov 19, 2009 at 9:34 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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In February, my Toyota Tundra Lease Expires. It is a four door, V-8 with leather. I'll have 36,000 miles on it, around 3,000 less than allowance. Its condition is good to excellent. I have really enjoyed this truck, and I would keep it for the right deal. The payoff price is thousands higher than the used prices listed in Edmonds, suggesting I turn it in and buy a used one. Sounds strange. Does Toyota deal? Do they extend leases? Do they provide special financing for the purchase? The leasing rep says I have to talk to the dealer. I will, but I'd love to have some suggestions first. Thank you. Bernie
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Replying to: bcroghan (Nov 16, 2008 1:57 pm) |
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Me and my wife have a leased 06 Subaru Legacy in which she was recently involved in an accident. The other party involved was at fault and I have been working with his insurance company for repairs. The insurance company has specified that they will be using non OEM as well as "recycled" parts. We were planning on returning the vehicle at the end of the lease term in March 2010. I am concerned that we may have additional wear and tear charges billed to us when we do this (The lease agreement seems rather vague as to their wear and tear definitions). Has anyone else had to deal with a similar situation?
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Replying to: j_kotrba (Nov 22, 2008 8:40 pm) Now, this is a little vague in and of itself. The source of the parts really isn't an issue, unless to fit/finish of the parts is obviuosly substandard. If the acutal repair work is sloppy, then you can be liable for charges. Personally, I'd get your ins co involved, or maybe a lawyer and try to make sure that the proper parts and techniques are used to return the car to the proper condition. |
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I just called Honda back because my lease was due up in January and decided to extend it month to month for up to 24 months. I work in the car business and I wasn't aware that you could extend the lease for up to 24 months. 1100 miles a month and the monthly payment is the same: $258. I'm going to stick with this for awhile so I don't have to be bothered about buying a new car.
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Replying to: alejandrom (Nov 25, 2008 1:34 pm)
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Replying to: volvomax (Nov 25, 2008 3:26 pm) Perhaps that's due to the new economic realities? tidester, host SUVs and Smart Shopper |
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Perhaps that's due to the new economic realities? It might be.... Why would Honda want the car back now? Why not keep making money on it?
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Replying to: alejandrom (Nov 26, 2008 12:17 am) In times past, I wondered about the financial wisdom of that, but as noted above, the drop in used car prices makes it a no-brainer for them now.
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Replying to: kyfdx (Nov 26, 2008 4:29 am) All you are doing is postponing the inevitiable. if the car isn't worth the residual today, it won't be worth the residual 2 yrs from now.
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