New to Leasehackr, please review this 2020 Rav 4 estimate

Where are you getting MF from? MF is way too low

Edmonds. Requested for this month. That was for a 2020 if it makes a difference.

It’s not that low. I am in TX and the rate is around .00197. Should be similar

Depends, you need to see if you can sell it for more than payoff (3rd Party Payoff BTW) go to the sellers Carvana, Vroom, carmax, etc and see what they think it’s worth. (Ask Toyota for the 3rd party payoff), I do not recommend trading it into the dealer as they will try to slip a bunch of charges into your new lease and confuse it.

And as an additional this is a TOYOTA, check your insurance / dealer and see if you can get GAP, it costs roughly 100 / yr.

Ok thank you, will do. Last time I went to trade it in there was an extra $1k in cost I couldn’t account for so that makes sense.

Thanks for the Vroom tip. At least according to the online app I filled out with them I would be losing much less money than I thought. My buy out is about 16k and the estimate came back with 15k which would be way cheaper than just turning it in.

Call and ask about 3rd Party Payoff, it is different, there is

  • Your Payoff
  • Manufacturer Dealer Payoff
  • 3rd Party Dealer Payoff (Like Carmax)

Oh I misunderstood. Thanks.

So Hyundai told me the 3rd party buy out is the same. That’s pretty good. Not going to mention the buy out now when I start emailing dealers.

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You can ask the Dealers how much to buy your car (No mention of new car purchase), they do that there as well but try to pressure you into buying a car.

Looks like you left the default MF and residual in there. Don’t assume that the cheapest msrp will be the cheapest lease, very often higher trims lease better. I’d compare numbers to some of the deals posted

October TOYOTA 2020 Highlander Xle hybrid $410 Tundra crew 345 2020 rav4 le $266 Tacoma $180! NATIONWIDE SHIPPING!

Yes I had the wrong residual. I think the MF was correct though, at least according to what I got from Edmunds. Thanks for the link.

Don’t believe everything Edmunds say though

Ok, how would I obtain a more accurate MF?

I’m definitely going to follow this thread. I have to “turn in” my C300 next week (tried 3rd party sites but offering is putting me like 9k in the hole) - so probably better to turn in.
Expecting a little one and Covid hurt us a bit. So I think a Rav4 is my next car.

Please keep me posted. I’m in PA and definitely need to pick something up maybe this weekend!

Def get a quote from Algo auto lenders to sell your car. If u like it do a virtual inspection where they give u the real quote (often lower by 1000 or so)

But def go on their website and fill out the form.

Reminder that dealer buyout doesn’t involve taxes

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Ask the dealer?!

Ok but then how do I know if its marked up? I’m just going by what I’ve seen in other threads regarding using Edmonds. Should I just get a couple MFs from local dealers and use those as my calculation base?

Even if I use the .00197 figure you had for Texas that’s still pretty good. Waiting on some MFs from local dealers now. Thanks.

Yes, I went with Algo. The vroom quote was higher but I just didn’t trust it based on the reviews. Even with Algo, I’m still not really losing money even though there was some negative equity.