Lease Return | Tacoma | How to get into another truck

Hello Hackrs,

Looking for some advice, have a Tacoma trd sport that is coming up on miles. My end of lease is still 4/5 months away. I want to buy out the truck but can’t justify paying close to $700, 72-month payment after a 24month lease that will put the total payment price near 58k. (MSRP 41k)

I’m interested in another Midsize truck, should I try taking it to another dealer out side of Toyota and see if they will buy over residual and provide a lower APR on a new truck to buy? Leasing is no longer an option as milage has increased with new job.

Thanks for any help

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Chevy is running some good specials on the Silverado right now.

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What is your RV and your APR?

APR is right around 5.4-5.9, unsure about RV (what that stand for ) Thank you!!

RV is for Residual Value when you signed for the vehicle.

You might want to read up on this subject because right what you are saying makes little sense.

Thanks Calvin - RV is 36k and dealer telling me if I buy now it be around 38k with their fee’s and stuff and to buy now because of interest rates

If you have any articles that are handy you can share that would be awesome because I’ve called 5 Toyota places and it all makes little sense to me. Thank you

How did you get to you total payments being $58k on a $36k residual for your Tacoma? That’s some crazy interest rate. Shop around and figure out if bank you leased through allows 3rd party buyouts.

If you’d like to learn about leasing, there’s a tutorial you can find in this forum. But if you want the easy route Maybe reach out to @Jrouleau426 and see what he can do for you.


So overall lease payments $9,576, then I’m told 72 month payments between $690-740 depending on bank rate, 690x72 is $49680 + my lease payments of $9,576 is $59,256.

Thoughts? I feel like I’m going crazy, I can’t justify a Tacoma being over 55k even with interest when the msrp is around 41k


Thank you!!

With a 72 month 3.55% loan from Interior Federal Credit Union, you’re looking at a $587 payment, totaling $42.5k. Don’t sign up with a dealer - find a credit union with a rate that works best for you.


This is what I need! Thank you so much!!

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He should definitely shop around for the best rate if he decides to buy the current truck out. If the dealer is telling him $700 a month x 72 (assuming a 38k payoff) that’s 9-10% interest.

OP your biggest problem is your going from a high RV lease to a purchase. Your new payment is going to be considerably higher no matter what if you finance.

Think about it this way, your 24 month RV on the Toyota was 87% meaning you only paid 13% over the term of your lease (2 years), which equals 6.5% per year. If you were to finance something and pay only 6.5% of its value per year, no interest, it would take over 15 years to pay off at the same payment as your lease.

Obviously that’s not a scientific formula, but you see what I mean.


I bought out my Tacoma lease and what you DO NOT want to do is use the dealer and deal directly with TFS (my lease was through TFS). I first tried with the dealer but they would only do it after charging for a bunch of nonsense (multipoint inspections and something else I cant remember) that I was not having, and honestly it made the transaction way harder than it had to be and left a real bad taste in my mouth over Toyota. What could have been resolved with a 15 minute phone call (and the chance for the dealer to capture a bit more money) ended with me having to chase down financing and coordinate the logistics. Not impossible at all, but was just unnecessary. I used a credit union (I have good credit which made shopping easy), they sent money directly to TFS then I had a trip to DMV and done. Good luck.


Hi Billy - thanks for sharing your story. Are these the steps to go about it? step 1, call bank it is currently leased with (ally in my case), find out buyout for todays price (little different than the residual value), after getting that price, step 2 call credit Union to secure lower loan. Step 3 is where I need help - then do you call loan company (ally) and say I want to buy it out with X loan from credit union or do you call the dealer and say “I spoke with financed bank, (ally), buy out is X, I have a new loan with X credit Union, send me the papers to buy it out?

Just looking for that last piece of who do I tell (ally or Toyota) that I have the loan and want to buy it out. Thank you!!!

Request a buy out letter from Ally by calling them. It’s good for X amount of time (will be stated on letter - - - Sometimes this info is available when you login to their website. Mine wasn’t.) Secure financing from whoever you want. Pay off the buyout however the Ally representative tells you.

I bought my Tacoma out from Ally a few months back…

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#1 will explain how to send them a check for #3

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Yeah just call Ally…they do this all day long they will walk you through the process.