I was hoping to get one of those one pay leases in TX that @Jrouleau426 posted on his FB group. But, it was nabbed before I could contact him. But, @Ryan_S didn’t seem to have anything close to this.
Texas bz4x for $6000 for 24/12 lease all tax tags fees inc. $250/mo effective!
Sweet, even easier now! Probably got themselves added to the participating dealer program as I think they’ve sold more bz4x’s in the last week than they have all year. They’re having them shipped in from Colorado and Montana now to keep up with demand. I got a deal from Dusty last night for some friends of mine on a red 2024 XLE AWD that was from CO. Price was a bit higher due to the added shipping cost, but still pretty damn sweet after the ORCVR:
Just be aware that this isn’t always the case when it comes to one pay leases. It probably will show as an open auto loan on your credit report. Different lenders may have different ways of viewing that. I had one lender tell me that they had to count a one pay lease against my DTI and another that did not. Technically you do have a monthly payment that is drawn from the amount you paid up front. Hopefully it’s not an issue for you. I’m sure if push came to shove the lending bank (TFS I’m guessing?) could provide you with some sort of document that would satisfy an underwriter if necessary.
Thanks for the info! I did a lot of googling regarding the DTI impact before I did the lease and I’ve already requested the pay off statement from Toyota Financial. Fingers crossed that it shows up as a closed account with $0 balance. My credit score actually jumped up to 826 after the TFS inquiry.
Worse case scenario, I wait for my rebates, sell it to a dealer/CarMax/Carvana (since they’ll still do a lease buyout from TFS) and just pocket the difference. No lose situation for me.
Verify that you’re not on the hook for repaying anything if the car is sold before a specific period elapses. In NJ for example, the $4,000 dollar rebate the state offers on EVs can be clawed back from you if you do not keep the car as a NJ resident for three years.
The OR rebate only requires that you “intend” to have it registered in your name for a minimum 2 year period. Since we pay up front here for the full 2 years, as long as I keep my plates / reg tags when I sell the car, I should be GTG.
No, of course not. Once the title is transfered, I’d remove the vehicle from my insurance. The registration and insurance are separate. In OR, you can keep your previous plates, pay $30 at the DMV to transfer them to a different car you own and use up the remainder of the registration period on the tags