Ending CULA Lease Options

Good Afternoon Hackr’s

Looking to get some input from someone who may have had a CULA lease in the past.

Lease a 2021 Tacoma TRD Off-Road back in June of this year at MSRP. Its a CULA lease through SCE Credit Union.

Ended up selling my Diesel truck as I didn’t see the need for it anymore and I had a buddy who was going to do the towing of our Track Car when we went to the track.

However, he ended up taking a position out of state and Im stuck needing a bigger truck to haul an enclosed car trailer that weighs around 12k all in.

Obviously, wouldn’t trust the Tacoma to even haul the 5600 it’s rated at so need to move this truck to get a full size.

Been getting some mixed information between CULA and SCE CU. Credit union told me to ask CULA so I did.

I cannot transfer the lease, as they do not allow assumptions.

Now here is where I got confused and it was explained confusingly.

Option 1: Buy the Truck out which would result in me paying tax and then selling it losing money.
Option 2: Trade it into a dealer for another Vehicle.
Option 3: CULA supposedly offers a service where they price the car and then try to sell it for you and you are responsible for any negative equity.

Super confused on the last option as the lady wasn’t clear on how the entire process worked. Has anyone tried it before or have experience with it?

Also, I could trade the truck in, but not sell it to Carvana/Vroom/Ect. So I would assume no Third Party buy-out but a trade-in is allowed?

Received mixed information between SCE CU and CULA. I assume CULA would be the correct way considering they actually own the truck.

Have you actually priced that one out to see if that’s really the case?

I did actually.

Since I got the truck for MSRP and things are nuts and new ones now are 4k+ mark up I thought I would have room to at least break ever.

But with my buyout and tax involved, it looks like I would be on the hook for about 2k when I take the best offer I got (Carvana)

I found a used truck at a dealer in San Diego and if they matched the Carvana offer on the Tacoma as a trade-in I would be okay and come out a little ahead.

However, they are coming up 2k less than carvana 's offer.

Really Interested in the 3rd option in which they sell the car for you because right now the cheapest one I am seeing used with the same options is 42k. But like I said I haven’t gotten them to really explain that process well enough.

That 3rd option sounds like a big roll of the dice to me. If they have you on the hook for the equity, they have no motivation to do anything but get it off the books as quickly as possible.

Exactly. Why when I was asking these questions they didnt seem to have an answer. If its something where they shop it around and come back saying here is the price and I can say yes or no. Then I would be up for it.

But if they just sell it for wholesale and are like F you. Then no lol

Have you read this thread?

CULA leases can be sold to 3rd party without issue. You will just call the bank to get your payoff which will include a $450 purchase fee. The third party buy out will not include tax.

@RVguy works for CULA.

Thanks Cody.

I did message RVguy a few days ago, but didnt hear back.

Waiting on the payoff letter from SCE CU then ill proceed!

Thank You again.

I text him. Hes been slammed. Let me know if you need help on the payoff letter I can call tomorrow.

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Thank you sir! I’ll hopefully hear back from SCE CU soon if not I’ll be in contact.

I appreciate it

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