You can structure a deal whichever way you want. You can do $0 due at signing, or first month’s payment due, or just first month’s and fees at signing. It is up to you to tell the dealer.
Since you are planning to buy out the lease immediately, it does not really matter how much you put down. I guess if you put down a large amount you are saving a small amount of interest on the initial payment. You always have to make the first payment a start of lease, whether it is paid upfront or rolled into the lease for a true $0 DAS.
Yes, the buyout will be reduced by the upfront down payment, but it does not change the total cost by very much. Maybe a few dollars.
When I do buy out assuming the amount is 40,000. Can I send two payments to Toyota financial service? One from my personal down payment $10,000 and the other comes from credit union $30,000? Or Should I finance the total buyout $40k through credit union and settle the down payment directly? Which way works better? Thanks.
Can I take advantage of this lease credit on any car if I am buying out right after the lease inception?
I see plenty of lease credit advertised here on LH with something like $7500 off on NX 450 Hybrid+. I am in a very high tax bracket and do not qualify for any income based tax incentives usually.
Any down payment would be at lease inception while still sitting at the dealership. That will lower the outstanding balance when you go to buy out the vehicle a few weeks later. You will have to send TFS a check for whatever the payoff is at the time of buyout. There may also be some additional taxes due, but not sure if TFS will collect those or if you will be responsible for paying them when you re-register the vehicle in your name. TFS should give you specific instructions on how to proceed with the buyout.
There aren’t any income restrictions on the $7500 lease cash, everyone gets it
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But someone suggest to pay only first month payment and deal with the remaking buyout later. I assume I can send out two check to TFS as long as they receive two payment to clear out the buyout they are fine with that. Anyone can please clarify with this strategy? Thanks.
Yeah I don’t see why that would be a problem
Just listen to everyone saying Don’t put money down on the lease-the reason is simple, say you get the car and a week later it gets totaled- YOU LOSE that $10K as leasing company owns the car, just be wise and put that $10K down when you BUY OUT the lease, finance the rest through your CU and be done with it. Do this as soon as you establish that online account with TFS (usually within two weeks) and don’t say anything to the dealer.
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Gotcha! I will just put first month payment and send out two checks to TFS after I got buyout package Thanks.
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Can anyone explain to me how this rebate works? Sorry, don’t mean to hijack this thread. Do you have to lease the car at MSRP (less $4,000) and you get the rebate when you buy the car?
But I see NX 450+ listed in the other thread with $4,000 off MSRP and $7,500 rebate. That sounds like a sweet deal to me.
You lease it to get the rebate applied to the balance and then shortly after you switch it to a purchase
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The NX gets the $7500 rebate? I thought it is built in Japan or Canda?
The 450h is built in Japan. Not an issue on the lease credit.
I wonder where there is a list of manufacturers that give out the 7500 lease credit? I did not think that Lexus RXH or NX was one of them. There are Toyotas that are hybrids but not all qualify for the 7500 lease credit.
Lease incentives change every month. You can become a super supporter to check Rate Finder, or post on Edmunds.
There is no build location requirement for lease incentives
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That number is essentially meaningless since the best leases have rebates way in excess of that number.
And Toyota PHEVs should only be “leased” for sub 30 days to capture rebates and then buy out.
Would a financial institution like a credit union or a bank then consider the Toyota a used or still a new car when you buy it out since it has been titled?
Different banks have different thresholds for how they handle that