Am I just trying too hard to start a lease? 2019 Camry SE

Ask the Hackrs
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1

Hello,

I’ve been doing lots of reading on the site and I noticed one theme throughout - ask for advice BEFORE you sign. I am in the final seven months of a lease on my 2016 Subaru Legacy Limited, so I started nosing around the Camry. I still owe $2310 in payments on the Legacy and I figured I would let it go if someone threw a lot of money at me. One dealer put together this offer:

They will pay the remaining $2310 for my lease and I return it to my finance company. This will cost me $300.

2019 Toyota Camry SE

MSRP: $30,113
Cap Cost: $27,294
Monthly Payment: $330 including 6.25% tax
Drive off: $1K
36 month
12K miles per year.
MF: .00022
Residual: 55%

Packages:

  • Convenience Package
  • Audio Package
  • All Weather Floor Liner/Cargo Tray
  • Moonroof Package
  • Blindspot Monitor
  • Wheel Locks
    *Door Edge Guards

What do you think? Am I just wrapping that $2310 payment into my lease rate?

Thanks!

2

You wrote Camry SE when it is actually an XSE

3

If they are just paying the remaining payments, you’re wrapping the payments into your lease. Your actual payment would be ~$64/month less without it factored in.

4

It’s not an XSE. It’s a Toyota Camry SE.

5

Panoramic Moonroof and Driver Assist package is only available on the XSE model

6

Good catch. I’ll edit what I actually have.

7

Unless you’re doing a real pull up lease (for example, MB used to pay final 5 months of lease if you leased a new MB…this came from company, not dealership), your old payments will almost always come out of your pocket…someone needs to pay for it!

Wait 7 months, and then go in fresh.

8

I just bought a 19 Camry XLE, great car. Your price is in line with what I got. You’re saying the roughly $2k credit is included in the sale price? Meaning you really are getting a $25xxx cap cost?

9

Side question - Does lexus do that? my friend got a NX300 and dealership said that they will pay the remaining 5-6 months and got her into NX. I checked edmunds but could not find this incentive.

10

Any reason you want to get out of your current lease early? Seems to me like the logical choice is to ride it out

1 Like
11

The $2k is going to Subaru to pay off my lease. The cap is $27. Yeah, I’m paying $2k less to Subaru but I probably shouldn’t be leasing at $330.

12

I took a 52 month lease and I’m going out of warranty in two months, so I’m thinking of that. My wife isn’t loving the car anymore either.

13

Tell me that isn’t a typo…I’ve never even heard of a 52 month lease.

4 Likes
14

Definitely a typo. 42 month.

15

Have you taken it to Carmax to see if you have any equity in it? Or checked Carvana, Vroom, KBB instant offer? Considering that people love Subarus for some reason (I’ll never understand it personally), you might have some positive equity because resale values are decent

16

CarMax offered $16,500. The buyout with remaining payments is around 19.

17

You’re getting a good deal there. I’m not sure how they are doing the math, but I would take it. At last check with @Cody_Carter he could do the same car for approx. 36/12k for $320’ish with around $800 down, and that’s with not having your negative equity rolled in.

18

The feedback is split pretty evenly at this point. I’m still confused!

19

Hey Sean,

Text me at 339 364 0356 and let’s run it by my toyota Guys in MA.

Thanks!
Mike

20

Factoring in the $1000 out of pocket your average monthly is approximately $357, I would NOT take that deal. I have seen SE lease out at high 200s …I leased the 1.5 touring at $295 when factoring everything in and they bought back $800 worth of lease payments.

1 Like