Financing buy out for 2018 Toyota Corolla lease

Not sure whether this is the right sub forum, have been getting great advice on leases before, now I am looking for info about financing when buying out a lease at the end. Though I leased vehicles multiple times before, I have not yet gone through the buyout financing process.

I already heard that the buyout cannot be negotiated. The residual is what it is.

At the same time, the local credit union offers 3.69% on financing for a 2018 vehicle. Do dealers have offers which might be lower than that for financing? Do I have to be on the lookout for any hidden fees when ending the lease or financing?

Thank you in advance for any guidance.

If you get the dealer involved in the process, expect them to charge some dealer fees, etc.

Would I be able to keep the car after the lease and to finance it without having the dealer involved? As a captive leasing company Toyota Financial needs the dealer to facilitate a buyout, doesn’t it?

Only in Florida AFAIK, anywhere else a check from your bank/CU sent by you to TFS should be ok.

Not in most states. When you go on to the TFS web portal, what does it say about the process for buying out the lease?

Since I am located in Florida, this is helpful to know. :slight_smile:

Florida requires the sale to be done through a licensed dealer with a physical location in the state. Most banks do not have a dealer license/physical presence in FL, so you have to go through a dealer. There are some brands that do, however, which allow you to go direct on the buy out.