What to do with Tacoma TRD Sport Lease

Ask the Hackrs
1

Have one year and $5500 left on a Tacoma TRD Sport 2020 4WD. I’m at 14k miles into a 39k lease. Purchase option is 32k. Carmax offer is 40k.

We bought it right before the pandemic and now working from home. Love the look of this truck but do not like driving it. I’m just too big and tall for it and trying to get me and my whole family into it is uncomfortable - so we always drive our other car. Wondering if we’re just throwing money away if we’re not going to drive it but we do need to have 2 cars.

Here’s what I’d like to get instead: Pilot, Traverse, Acadia, Full Size Truck

2

I can swap you out of the taco for any other Toyota. If interested text me

Jim
215-359-6836

3

Purchase option … is that for now or at the end of the lease?

4

Which bank is your lease through?

5

That is a good question - I’m assuming that’s at the end of the lease?

6

Ally Bank.

7

You can’t sell it to carmax….

You can only get your equity if you do another Ally lease.

8

Then you need to find out what your current payoff is.

9

Why can’t this be sold to carmax?

10

Ally unlike TFS will not allow it. (you asked this in a other LFS thread)
You can buy it out but not sell direct.

1 Like
11

You can sell it to carmax. Just have to buy it yourself and pay tax, wait for title, then you can sell to whoever you want.

13

is this a new policy?

i sold my ally lease directly to vroom in fall 2021. i didn’t buy it out first. sold it directly to vroom with me not paying tax. the ally third party buyout price was around $2k more than leasee buyout price.

i got about $7k equity out of it.

things might have changed since.

14

From what I’ve seen lately ally has been like a 20-25% spread between dealer and customer buy out pricing on my toyotas.

So yes technically you can sell to 3rd parties, just makes more sense to buy it out yourself and pay tax…sorry for saying can’t before. I just haven’t seen any situation when it works sense lately.

15

i would say going through process with 3rd party is a lot more difficult than buying it out. i remember a lot of legwork and phone calls to both ally and vroom.

for the OP, if a broker like jrouleau426 can facilitate it you should do it. it will save you a lot of headaches.

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