US Bank Lease Buyout

Ask the Hackrs
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1

I leased a Toyota Tacoma and at end of lease would like to purchase.

I have heard many bad things about US Bank.

Should I expect a problem at lease end regarding the buyout or should I just expect to pay the contract lease purchase amount plus state tax and be done easily?

Anyone with experience with this.

Thanks

2

Expect to pay what’s on your contract, keep in mind that these are leasing very well right now, so unless you’re way over miles or have beaten the living snot out of it, might be cheaper to stay on the lease path.

3

Thank you - I have hearing bad things about US bank and was getting concerned that they might play games at lease end.

How are they if I trade in at lease end? I have heard some things like they will not honer payoff, etc. if trying to trade to a dealer?

4

They aren’t the best to deal with, although nobody has posted any horror stories lately.

5

Thank you - anyone with real life experience lately?

6

I recently bought out a US Bank lease and it was painless and direct. I bought the truck as US Bank is ruthless with lease returns with supposed damages. They also have two prices for buyout one for the lessee and another higher price by thousands for a dealership which kills your trade in opportunities. I will never lease again with US Bank…

2 Likes
7

Glad to hear you had a painless transaction. This is what I plan to do as well.

I heard that there could be problems trading in so if I decide to go this route will still purchase and next trade.

Thanks

8

I’m not sure how us bank does it, but you could always call and see if they do inspections prior to turn in, then you would know if any charges

9

I had a Volvo leased through US Bank. I tried to trade it in 6 months early but US Bank wanted $3500 more from the dealer than what I could buy the car for. I had to buy the car from them, pay sales tax and then sell it to the dealer instead of them buying the car. Additionally US Bank required a penalty equal to one monthly lease payment for ending the lease early.
I will never deal with US Bank again

10

Not very recent, but here’s a thread of horror stories at lease end.

11

My 2015 Equinox was leased thru US Bank. I read some of the horror stories which made me nervous but I had no issues with them. I had my inspection done, no chargeable items. Dropped off at dealer and that was that.

Keep in mind US Bank has no disposition fee which is great. Im not sure if that changed and they include one now.

I think maybe the issue that people are having is with buying the vehicle out or trying to squeeze out equity on a lease.

12

Thanks for everyone giving their experience - this is what I am looking for and making me more comfortable with my exit.