Lease ending need coaching

Ask the Hackrs
1

I’ve been leasing a 2014 Toyota Sienna and its coming to an end in August. I’ve never leased before and I kinda thought I would just trade the car in each year and get a new one without much hassle or haggling. I’ve gotten several calls from my dealer asking what I want to do and I’ve told them that we’re happy with the car and if they wish to give me a new one with same or similar payments, we’d be happy to keep on driving a Sienna. But it hasn’t been that easy, they tell me that the deal I have is too good and they won’t be able to match it or I could put down money and trade in the van to continue with the same payment. What should I be saying when I talk to these guys again this weekend?

TL;DR N00bs lease is up and I want to get a newer model and keep similar payments but dealer isn’t working with me.

Model: 2014 Toyota Sienna XLE
Down payment: $3,000
Security deposit: $0
Monthly: $357.13
Current Payoff: $20,265.37
Lease ends: 7/1/17
Current mileage: ~25k

2

As your mileage is low, you might get more selling it. On autotrader there is a process where you can get a quote for your vehicle, in theory from a dealer who will buy it outright, potentially for more than payoff. I’d also try other dealers to see if they will be more aggressive.

3

Take the car to Carmax get an appraisal and compare to payoff.

Do your research and get the best lease possible.

1% monthly payment of msrp with ZERO DOWN (zero cap cost reduction)

Don’t put 3k down like before

4

I’ve gone on KBB and I know there’s equity in the current can, I really was just hoping to get a new ride and keep the same payment. If I’m gonna sell to CarMax or something then I might as well shop around, the wife likes the can and wants to stick with Toyota. Probably shouldn’t tell them that.