Toyota lease - how to get out?

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I got into a lease in early 2019 for a commuter Toyota Corolla (250/mo) in DC/MD/VA area. It’s got 7k miles on it since no driving since COVID closings happened in March. I’m trying to see what I can do with the car and would appreciate any advice as I’m currently looking into purchasing it from Toyota Finacial and then try to sell it since that’s what I understand is how one gets out of leases, but thinking that’s the way in non-COVID times, and wanted to see what you think is best during new normal.

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Sell it to Carvana. They will pay TFS for you.

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YOU can transfer the lease to someone else. There is usually a lease transfer fee involved. You can actually post it under “private lease transfers” here on Lease Hackr. You’ll need to post the exact parameters (Months remaining, miles remaining…) of your lease as well as the payment & if you are offering some sort of incentive. Good luck!

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So I thought about transfer, but my experience with other financial services companies is they don’t want to risk it so they keep you on the lease. Now, if the other party fails to pay or does something to the car for any reason, the original lessor is still on the hook.

What’s wrong with Carvana? At first glance it seems just perfect – I’m engaging them right away. Thanks to Cody_Carter.

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Toyota doesn’t keep you on the lease.

Nothing is wrong with Carvana, unless their offered price is less than what you owe or what someone else offers.

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This is great – note to self: search for “end lease” not “Terminate” or “Get out”

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Oh, wow – last time I did the lease takeover was with Audi Financial Services and they did. It’s helpful to know that TFS doesn’ do that. The other pain point I recall is how long AFS dragged out the process – about 3 months. I’ll keep that in mind and see if a lease transfer is something that pans out first, per the end lease. Thanks mllcb42.

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Audi is definitely notorious for that and one reason why transferring through audi isn’t really worth it.

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Also check Shift, Vroom, Carmax (if you have one nearby)

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