Trading a US Bank lease for equity

I’ve absorbed just enough information to partialy confuse myself and could do with some guidance…

I leased a Tundra through Jim R nearly 2 years ago and it was a great deal and experience but it’s coming to an end in March (can extend 6 months) and I’m looking at a bunch of scenarios and I’m out of my depth and need some help.

The Tundra is through US Bank and has a lessee buyout of $36k and I have offers around $43,500. In Georgia I will pay $2500 Ad Valorum tax if I personally buy it out and title it. I gather that if I trade it to a dealer I wouldn’t own it and would avoid that tax; however I also read that I would need to lease something again through US Bank so that the dealer would get a similar buy out value from that lender rather than a higher value.

I guess my question is when trying to decide whether to go one route or another how can I narrow down the possibilities without wasting a bunch of dealer/brokers time?

I’m starting with this 2020 Tundra lease and a $23k 2017 Vw GTi which I own, and I would like to end up owning a 2022 Ram2500 and leasing a small car.

Should I look at trading the Tundra in for another lease (a Prius) and get some of the equity from the dealer as a cheque; is that a thing or would all the equity go towards the lease DAS and payments?
Should I look at buying the lease out, paying the sales tax then sell to Vroom or similar and start a fresh?
My latest thought was to lease a Prius nightshade, sell the Gti, place an order for the Ram to get a decent price and then trade the Tundra in at the Ram dealer when the Ram is ready.

Sorry for the lengthy ramble.

Yes, that is absolutely possible. Make sure to be firm about it if they continually “forget” and roll it into your next lease quote.

Speaking of which, you may be better of buying/financing the Prius because of its value retention and lack of lease deals.

1 Like

Always buy the Prius. I’ve leased 1000s of cars and not one Prius! I have some in stock now we can finance through usbank so we can get equity on the tundra for you.

I always suggest taking a check for the equity instead of rolling it in. Between risk of a total loss on your car and losing that equity and being able to make 3-4% on your money elsewhere it’s usually a no brainer.


will US Bank, Let you buy it out but title it in someone’s else name? If I want to buy out my neighbors lease?

Nobody allows that

so how do you do it so sales tax is not paid twice in one week?
Would they allow both names on the title then he just signs it over?

Unless you’re in California, you don’t get to avoid paying tax twice.

I’m in California

1 Like
1 Like

That’s great info, thanks for the responses.

1 Like