I have around $3-4k in equity in my Tundra lease (USBANK). I know there are no 3rd party buy-outs with USBank, though I always thought the originating dealer could (thus saving Sales Tax). Just got of the phone with my dealer, and yes they can buy it out for around my buy-out price, but they would “REQUIRE”, I finance my next vehicle with them. Otherwise no go. Is this a recent policy change with USBANK? I guess my only option is to buy-it out myself and pay the tax. Not sure if it is worth for the $1.5-3k I may walk away with.
i’m in a similar position with my tundra lease ending in September. US Bank told me the same thing, the dealer can only buy me out at my price if the next vehicle is leased or financed through US bank as well…
I’m
Glad they came to their senses. Two months ago us bank gave me one number, gave ToyotA dealer another number and don’t wanna know what the third party buy out number was. I tried getting into another toyota if they honored my buy out with dealer but they didn’t. Glad I’m out of their trap though.
Back in the day of no equity in leases USB would give a dealer a lower than actual market buy out price if going from a USB lease to a new USB lease. It was not much, but would help out. On a 2014 Camaro they offered 1k below my current buy out to go into a new lease- kind of an unwritten loyalty program. Luckily I stuck it out till the end and never went back to USB again.
Get out this jail card only if you are willing to go int o the next jail…
1 Like
Speak to level 2 support. Base support knows nothing. I sold off usbank jeep lease to toyota dealer that worked with us bank and financed my toyota myself.
They all say you can not sell etc but its because they have no idea. It will take time but move up the chain. Goodluck.
Does anyone know of any Jeep Dealers on the east coast that do deal with US Bank?
Been like this for almost a year. Problem is new usbank leases aren’t great. So even if you have 2-3k equity the new lease with usbank isn’t worth it. Other banks have been significantly lower. For Toyota at least.
1 Like
Us bank is the worst
yeah I hate saving $4000 over 3 years vs leasing through Toyota bank…
This current wave of equity is something that never happened before, of course banks are going to want a piece of it, after all they took the risk by offering leases at such high residuals. No one would be complaining if they were $5000 underwater and usbank had to eat that.
Besides their terrible customer service, which is a recurrent theme for almost any company these days, I haven’t seen any issues with usbank and I leased 1000+ cars through them. They’re not nickel and diming at lease return like they were accused of years ago.
1 Like
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.