Take over my Lease: 2016 Toyota Highlander XLE AWD

Private Transfers
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1

I have a 2016 Toyota Highlander XLE AWD that I am trying to get out of. Its a Black on Black with Second Row Captain Seats and Auto Start.

Currently, it has 14500 miles on it and due to go back on 11/11/2019. It’s a 36m/12k lease. I have put $2925 MSD which I would collect on a transfer of the lease and TFS will return that back to you at the end of the lease.

Payment on the lease is $315 and its located in Paramus, NJ (Subrubs of NYC)

There is a $200 lease transfer fee that I’ll cover if you are approved by TFS.

2

You forgot to tell anyone the payment. Also you’ll likely have to incentivize someone to take it over.

3

also you forgot to say where it’s located

4

Thanks!!. Its $315 a month.

5

Thanks!! First time selling here, seems like I missed the most basic stuff.

6

What was the original MSRP?

7

Please share all the relevant details
MSRP, Residual Value, Miles Remaining, warranty, incentives?

8

why do you need to know RV on a lease transfer?

1 Like
9

or incentives, for that matter.

Note, I misstook incentives as the incentives during inception, not the transfer incentive.

10

MSRP on the car was $40,768 according to the contract.

11

I thought it would be a good to know information for the person taking over the lease. Also, if there are any incentives for taking over the lease.

12

RV is irrelevant info for someone taking over the lease as the terms of the contract are non negotiable.
He did say he’s going to pay transfer fee so that seems to be his “incentive”.

13

Correct, I’ll pay the transfer fee.

14

Technically, you are right. Unless someone wants to possibly buy it at the end of lease.

1 Like
15

then RV still isn’t going to help, he would have to know the actual payoff quote at end of lease as stated in contract.

16

Yes, but RV gives very close number. And may be even the same as buyout.

17

Residual is at $27722.24, which is 68%.

18

If I were to transfer this to NY what would be due at time of Xfer- besides the MSDs to you/ Is there a tax I would have to pay?

19

I believe NY is a state where they collect taxes upfront, so you might have to pay the taxes on the remaining payment.

On the contract Monthly Tax/Use Tax is NA.

20

yes, you will get a bill in the mail not long after the transfer, a lump sum for the taxes due on your remaining payments.