So for the Toyota lease buy out do I need to pay all 36 monthly payments? For the break down monthly payment that include the rent charge and interest charges right? Do I need to pay both? How does this works? Thanks.
No, you pay the early buyout amount, which doesnât include unearned rent charge. Your immediate buyout is roughly the adjusted capitalized cost on the lease contract plus tax.
Thanks. I am confused someone mentioned I have to pay all 36 monthly payment.
Was it the dealer? Dealers give incorrect info in regards to this all the time.
No in reddit they said I have obligation to pay the remaining monthly payment. So after first week I can contact TFS to get buy out amount? Whatâs the breakdown for buy in out amount? Residual value plus all the fees excluding the monthly payment? Thanks for clarification.
Youâre responsible for the adjusted lease balance plus buyout fee and any applicable taxes. The adjusted lease balance is essentially the adjusted cap cost minus the depreciation portion of any payments made.
For a quick approximation, your immediate buyout in the first month is basically the adjusted capitalized cost as listed on the contract plus tax.
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I need some help with this i am in Bay area. Can someone help with their experience if they leased and did buyout . i reserved a car for MSRP ( prius prime) + accessories which is not much.
When is your car deliver? I am still waiting for my car to be delivered. I put a deposit last July still waitingâŚOnce my car deliver, I am going to do the lease buyout.
they say between Feb 12th and March 5th, i deposited only first week of Jan, i am amazed it takes so long for you, i heard some people have to wait 10 months to get MSRP without markup
Have you did the math r we saving anything going lease and then buyout?
My car is arriving this week. How do I pay off the buyout price from TFS? I am looking to get a loan for buyout lease and also thinking of down pay $10,000. Assuming the buyout price is $45,000 how do I arrange the payment to TFS? Send out a two separate check one from my own and other from my credit union? Or should I just put a large down payment when I sign the lease and that will reflect as down payment on my buyout contract?
Sorry itâs my first time so I just want to know which way is the best move for me. Thanks for your help.
Texans can easly can afford and pay double tax on lease and then purchase it while they do NOT have personal income tax.
Donât put a big down payment on the lease. Donât tell dealer your plan to buy out quickly. Wait about two weeks after you sign the lease, then call TFS and tell them you want to buy the car. They will tell you what you need to do. Each state has there own unique way of handling buyouts, taxes, etc.
Whatâs the reason not put down a large down payment on the lease? Isnât that help to reduce the buyout price?
Because itâs taxable, for one thing. And it doesnât help your total cost so whatâs the point. Use that money as a down payment to finance the buyout.
Someone mentioned that a down payment will reflect on a buyout contract. Overall it will reduce the adjusted residual value. Isnât that true?
Fyi, the residual is a percentage of the MSRP of the vehicle. All a down payment does is to reduce your monthly payment.
So it doesnât make sense to put a down payment if I plan to do buyout immediately right
Correct. As others have stated, do not put money down on the lease.
But min you have to pay just the first payment plus some other fees like docs, registeration fees right