RAV4 Prime lease incentive and early buyout

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I leased my RAV4 Prime in February from a Virginia dealer to get the $6,500 incentive, made one payment, and then bought it out in April. Dealer was not willing to discount the price, but did not add any dealer-installed options or other items in addition to the dealer processing fee and the lease acquisition fee. However, lease money factor was very high - about equivalent to 8%.

Then I called Toyota to get the lease buyout info and they emailed back a buyout package that explained everything. Simple process overall, but zero feedback during the process when I called to check on the status. Sending them a check for over $40k and then waiting 10-15+ days for the paperwork to pop out of the system made me uncomfortable. Total time from their receipt of the Fedex until I had the title in hand was about 15 working days.

Went to Virginia DMV today and there were no surprises. Sales tax was paid at the time I leased, so today I only paid about $21 for a new title and registration.

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Congrats on closing the deal! In most states this is the best way and lowest TCO.

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It’s a black box, but as long as you stuff it with the correct paperwork and a Publishers Clearinghouse check, your title will pop out the other end. Congratulations on the lease-buyout and savings, enjoy your RAV4

If you haven’t already, post photos

Does Toyota Financial allow you to buy out the lease with a Used auto loan?