I have a 2019 Tacoma Off-road, short bed fully loaded. I did a 2 year 20k lease and the lease is up July 1. It currently has only 9k miles on it and is in perfect condition.
We are in need of a family car very soon since we have a little one on the way, and we plan on leasing a Tesla Model Y.
I was thinking I could sell the Tacoma now instead of waiting until July to turn it in. Is this possible? If so, how could I do it?
I put 0 down when I leased it, except for a $2500 MSD deposit through Toyota. If I sell the car, do I still get that deposit back? Also, I got a really really good deal on the lease, I pay only $238 a month. MSRP was like 41k at the time I leased it. Don’t know if that plays into this at all.
So let’s say I sell it to Carvana, I would still get my MSD back? Plus I get to keep the difference in what the sale price is to what the buyout price on the lease is?
So if my buyout price is let’s say 30k, and I sell it for 32k to Carvana, I get to keep the 2K difference AND I get the MSD back?
Make sure your buyout is not already deducting the MSDs. I have heard that happens. They figure you are buying it, so why wouldn’t you apply the MSDs toward the purchase?
Make sure you actually have positive equity, most of my customers who got the two year TFS deals from 2019 dont have equity because the residual was unrealistically high on them (Which is why the lease was so good)
Really is unbelievable. Not only was I able to lease a fully loaded 41k truck for 238 a month with 0 down, but I was able to turn around and sell it 2 years later and ALMOST MAKE A PROFIT! In my eyes I essentially drive the truck for free for 2 years. Absolutely shocked by this.
Caravana offered 36.3k and Vroom was just so much higher. Is it because Taco’s are in high demand or the crazy used vehicle market we are in?
With the EV rebates in NJ, no sales tax, and upcoming Federal ev tax credits, it’s hard to pass up a Tesla! We will be leasing a model Y long range or buying it outright. Haven’t decided yet!
No need for a giant car like a suburban at the moment!
I am on a same boat. I leased a 2018 rav4 hybrid. I was paying like 259 + insurance my payment ended up 291 a months. My buyout option in June is 16k. I did an estimate to sell with vroom and carmax. Vroom was 23.8k and carmax was 24k.I practice drove this car for free due to high used car market. My monthly cost for 36m would be 55 bucks.
Incorrect! The base MY starts at $50,490 and the build I have spec’d is $53,490.
So yes, the rebate only applies to vehicles below $55k MSRP, which includes the MY long range. The MY Performance does not qualify since it is $60,900 MSRP.
I’m in the same situation as you. Got offered $38,200 for my Taco, TFS shows payoff as $32,100. Curious, how did the process go with Vroom & TFS? Did you have to purchase from TFS and then sell to Vroom or could it go directly to Vroom? I’m trying to figure out how to navigate this, but looks too good to turn down.
Hey! Still in the process with Vroom but everything is going smoothly. Vroom will buy the car directly from TFS. No need to worry about sales tax or anything. Just call TFS and ask for the dealer to dealer payoff letter. Make sure they know you are not the one purchasing the vehicle. The first time I called they sent me documentation as if I was the purchaser, which included sales tax. I had to call back for a different letter that just states the payoff amount, which is what Vroom is looking for.
I emailed Vroom all the requested documents and they Fedex’d me a contract which I just sent back today. Once they receive that I can schedule pick up within the next 10 days.
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