terminate toyota lease-Sienna

HI
I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
finance.. the buyback price is 13.5k.
I have some extra money now and am wondering if i can just buyback the
sienna. Can i negotiate the buyback price. if so what should i be doing

Seede

[email]junkone1@gmail.com[/email] wrote:[color=blue]
> HI
> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> finance.. the buyback price is 13.5k.
> I have some extra money now and am wondering if i can just buyback the
> sienna. Can i negotiate the buyback price. if so what should i be doing
>
> Seede[/color]


You can buy it outright anytime you wish. But the payoff amount is
usually non-negotiable.

Or you can sell your lease at [url]www.swapalease.com[/url] and buy another used
Sienna at a lower price.

On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
[color=blue]
> HI
> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> finance.. the buyback price is 13.5k.
> I have some extra money now and am wondering if i can just buyback the
> sienna. Can i negotiate the buyback price. if so what should i be doing
>
> Seede[/color]

You're going to pay through the nose to buy out this contract. They can
use a low mileage Sienna on their lot.

Call Toyta Finance (probably where you make your payment) and talk to them
FIRST. The dealer will give you a run around about paying this and paying
that; TMCC has nothing to lose, so deal with them first.

You ARE going to pay a premium for this van, however...

Hachiroku wrote:[color=blue]
> On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
>[color=green]
> > HI
> > I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> > finance.. the buyback price is 13.5k.
> > I have some extra money now and am wondering if i can just buyback the
> > sienna. Can i negotiate the buyback price. if so what should i be doing
> >
> > Seede[/color]
>
> You're going to pay through the nose to buy out this contract. They can
> use a low mileage Sienna on their lot.
>
> Call Toyta Finance (probably where you make your payment) and talk to them
> FIRST. The dealer will give you a run around about paying this and paying
> that; TMCC has nothing to lose, so deal with them first.[/color]

The dealer has NOTHING to do with his lease contract. Whether you lease
or buy, dealer gets their money in full from the bank upfront. So they
have absolutely no financial interest in the vehicle.
[color=blue]
> You ARE going to pay a premium for this van, however...[/color]

Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
listed was for $16,900. If his payoff amount is only $13,500, he's
getting a bargain.

In article <1159107665.452511.261790@e3g2000cwe.googlegroups.com>,
[email]junkone1@gmail.com[/email] wrote:
[color=blue]
> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> finance.. the buyback price is 13.5k.
> I have some extra money now and am wondering if i can just buyback the
> sienna. Can i negotiate the buyback price. if so what should i be doing[/color]

You probably cannot negotiate the buy back price.

What you need to do is get all your ducks in a row and turn the car back
in. Find out where it will go to auction. Find someone who specializes
in finding the car at auction and buying it for you.

My brother did just this, and saved $5000. I can get you the name of
his guy if you'd like. It's not a big deal, but you'll be without the
car for a month or so.

On Sun, 24 Sep 2006 11:52:42 -0400, Elmo P. Shagnasty wrote:
[color=blue]
> In article <1159107665.452511.261790@e3g2000cwe.googlegroups.com>,
> [email]junkone1@gmail.com[/email] wrote:
>[color=green]
>> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>> finance.. the buyback price is 13.5k.
>> I have some extra money now and am wondering if i can just buyback the
>> sienna. Can i negotiate the buyback price. if so what should i be doing[/color]
>
> You probably cannot negotiate the buy back price.
>
> What you need to do is get all your ducks in a row and turn the car back
> in. Find out where it will go to auction. Find someone who specializes
> in finding the car at auction and buying it for you.
>
> My brother did just this, and saved $5000. I can get you the name of
> his guy if you'd like. It's not a big deal, but you'll be without the
> car for a month or so.[/color]


LOL! And hope somebody doesn't outbid you!

Toyota's are hot commodities on the Auction market!

On Sun, 24 Sep 2006 08:10:51 -0700, Tush Smells Bush Kills!!!!!!!!!!!
wrote:
[color=blue]
>
> Hachiroku wrote:[color=green]
>> On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
>>[color=darkred]
>> > HI
>> > I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>> > finance.. the buyback price is 13.5k.
>> > I have some extra money now and am wondering if i can just buyback the
>> > sienna. Can i negotiate the buyback price. if so what should i be doing
>> >
>> > Seede[/color]
>>
>> You're going to pay through the nose to buy out this contract. They can
>> use a low mileage Sienna on their lot.
>>
>> Call Toyta Finance (probably where you make your payment) and talk to them
>> FIRST. The dealer will give you a run around about paying this and paying
>> that; TMCC has nothing to lose, so deal with them first.[/color]
>
> The dealer has NOTHING to do with his lease contract. Whether you lease
> or buy, dealer gets their money in full from the bank upfront. So they
> have absolutely no financial interest in the vehicle.[/color]


Let me 'splain it to you: that's why I mentioned TMCC, because if he went
to the dealer first, they'd give him a run around and try to jack up the
buyout.

I *might* just know a bit about how Toyota dealers operate...

And I'm pretty sure they would LOVE to have a low mile Sienna on the lot...




[color=blue]
>[color=green]
>> You ARE going to pay a premium for this van, however...[/color]
>
> Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
> listed was for $16,900. If his payoff amount is only $13,500, he's
> getting a bargain.[/color]

But he's *NOT* done with the lease yet, and they may try to hit him with a
penalty for breaking the contract, Moose.

The Buyout is the pay off figure at the *END* of the lease.

Buying out a lease is never a good idea at any time, period. If you do you
lose all of the advantages of leasing. You end up paying MSRP plus for the
vehicle.


mike hunt


"Tush Smells Bush Kills!!!!!!!!!!!" <rsfccarbomb@yahoo.com> wrote in message
news:1159109706.413936.236160@i3g2000cwc.googlegroups.com...[color=blue]
>
> [email]junkone1@gmail.com[/email] wrote:[color=green]
>> HI
>> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>> finance.. the buyback price is 13.5k.
>> I have some extra money now and am wondering if i can just buyback the
>> sienna. Can i negotiate the buyback price. if so what should i be doing
>>
>> Seede[/color]
>
>
> You can buy it outright anytime you wish. But the payoff amount is
> usually non-negotiable.
>
> Or you can sell your lease at [url]www.swapalease.com[/url] and buy another used
> Sienna at a lower price.
>[/color]

The dealer has nothing to do with your lease, Toyotas credit arm OWNS that
vehicle. You must deal with them to buy it sell or even give it away


mike hunt


"Hachiroku" <Trueno@ae86.gts> wrote in message
news:U%wRg.193$8U2.55@trndny08...[color=blue]
> On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
>[color=green]
>> HI
>> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>> finance.. the buyback price is 13.5k.
>> I have some extra money now and am wondering if i can just buyback the
>> sienna. Can i negotiate the buyback price. if so what should i be doing
>>
>> Seede[/color]
>
> You're going to pay through the nose to buy out this contract. They can
> use a low mileage Sienna on their lot.
>
> Call Toyta Finance (probably where you make your payment) and talk to them
> FIRST. The dealer will give you a run around about paying this and paying
> that; TMCC has nothing to lose, so deal with them first.
>
> You ARE going to pay a premium for this van, however...
>
>
>[/color]

Really? If Toyotas are such a hot commodity, why are they being sold at
auction? That is where dealers dump cars. One does not sell something at
wholesale that can be sold retail ;)


mike hunt

[color=blue]
>"Hachiroku" <Trueno@ae86.gts> wrote in message
>news:OGzRg.3606$Zj4.1301@trndny04...
> On Sun, 24 Sep 2006 11:52:42 -0400, Elmo P. Shagnasty wrote:
>[color=green]
>> In article <1159107665.452511.261790@e3g2000cwe.googlegroups.com>,
>> [email]junkone1@gmail.com[/email] wrote:
>>[color=darkred]
>>> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>>> finance.. the buyback price is 13.5k.
>>> I have some extra money now and am wondering if i can just buyback the
>>> sienna. Can i negotiate the buyback price. if so what should i be doing[/color]
>>
>> You probably cannot negotiate the buy back price.
>>
>> What you need to do is get all your ducks in a row and turn the car back
>> in. Find out where it will go to auction. Find someone who specializes
>> in finding the car at auction and buying it for you.
>>
>> My brother did just this, and saved $5000. I can get you the name of
>> his guy if you'd like. It's not a big deal, but you'll be without the
>> car for a month or so.[/color]
>
>
> LOL! And hope somebody doesn't outbid you!
>
> Toyota's are hot commodities on the Auction market!
>[/color]

Tush Smells Bush Kills!!!!!!!!!!! wrote:[color=blue]
> Hachiroku wrote:
>[color=green]
>>On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
>>
>>[color=darkred]
>>>HI
>>>I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>>>finance.. the buyback price is 13.5k.
>>>I have some extra money now and am wondering if i can just buyback the
>>>sienna. Can i negotiate the buyback price. if so what should i be doing
>>>
>>>Seede[/color]
>>
>>You're going to pay through the nose to buy out this contract. They can
>>use a low mileage Sienna on their lot.
>>
>>Call Toyta Finance (probably where you make your payment) and talk to them
>>FIRST. The dealer will give you a run around about paying this and paying
>>that; TMCC has nothing to lose, so deal with them first.[/color]
>
>
> The dealer has NOTHING to do with his lease contract. Whether you lease
> or buy, dealer gets their money in full from the bank upfront. So they
> have absolutely no financial interest in the vehicle.
>
>[color=green]
>>You ARE going to pay a premium for this van, however...[/color]
>
>
> Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
> listed was for $16,900. If his payoff amount is only $13,500, he's
> getting a bargain.
>[/color]
You seem to be mistaken. If he pays back the lease now, his cost is the
$13,500 pay back price PLUS what he already paid at signing and per month.

Morton

Hachiroku wrote:[color=blue]
> On Sun, 24 Sep 2006 08:10:51 -0700, Tush Smells Bush Kills!!!!!!!!!!!
> wrote:
>[color=green]
> >
> > Hachiroku wrote:[color=darkred]
> >> On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
> >>
> >> > HI
> >> > I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> >> > finance.. the buyback price is 13.5k.
> >> > I have some extra money now and am wondering if i can just buyback the
> >> > sienna. Can i negotiate the buyback price. if so what should i be doing
> >> >
> >> > Seede
> >>
> >> You're going to pay through the nose to buy out this contract. They can
> >> use a low mileage Sienna on their lot.
> >>
> >> Call Toyta Finance (probably where you make your payment) and talk to them
> >> FIRST. The dealer will give you a run around about paying this and paying
> >> that; TMCC has nothing to lose, so deal with them first.[/color]
> >
> > The dealer has NOTHING to do with his lease contract. Whether you lease
> > or buy, dealer gets their money in full from the bank upfront. So they
> > have absolutely no financial interest in the vehicle.[/color]
>
>
> Let me 'splain it to you: that's why I mentioned TMCC, because if he went
> to the dealer first, they'd give him a run around and try to jack up the
> buyout.[/color]

What are you talking about?????? The dealer HAS NO SAY WHATSOEVER in
the buyout amount or anything else!

Leasing is just like financing. When you want to pay off your financed
vehicle early, do you go to the dealer? NO! You call the bank. You deal
with the bank. The dealer has NO SAY in the matter.

If you call them, they will tell you the same: call the bank that
financed or leased you. They can't do jack about anything.

[color=blue]
> I *might* just know a bit about how Toyota dealers operate...[/color]

But you obviously have no clue how leasing operates.
[color=blue]
>
> And I'm pretty sure they would LOVE to have a low mile Sienna on the lot...
>[/color]

What are you talking about? He wants to PURCHASE the vehicle OUTRIGHT
not turn it over the dealer.

[color=blue][color=green]
> >[color=darkred]
> >> You ARE going to pay a premium for this van, however...[/color]
> >
> > Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
> > listed was for $16,900. If his payoff amount is only $13,500, he's
> > getting a bargain.[/color]
>
> But he's *NOT* done with the lease yet, and they may try to hit him with a
> penalty for breaking the contract, Moose.
>[/color]

He's not talking about breaking the lease. He wants to BUY the contract
out! In other words, he wants to purchase the vehicle outright so he
doesn't have to make lease payments anymore.

[color=blue]
> The Buyout is the pay off figure at the *END* of the lease.[/color]

That's the RESIDUAL VALUE. The buyout amount VARIES depending on when
you request it. It differs month to month.

Morton Linder wrote:[color=blue]
> Tush Smells Bush Kills!!!!!!!!!!! wrote:[color=green]
> > Hachiroku wrote:
> >[color=darkred]
> >>On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
> >>
> >>
> >>>HI
> >>>I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
> >>>finance.. the buyback price is 13.5k.
> >>>I have some extra money now and am wondering if i can just buyback the
> >>>sienna. Can i negotiate the buyback price. if so what should i be doing
> >>>
> >>>Seede
> >>
> >>You're going to pay through the nose to buy out this contract. They can
> >>use a low mileage Sienna on their lot.
> >>
> >>Call Toyta Finance (probably where you make your payment) and talk to them
> >>FIRST. The dealer will give you a run around about paying this and paying
> >>that; TMCC has nothing to lose, so deal with them first.[/color]
> >
> >
> > The dealer has NOTHING to do with his lease contract. Whether you lease
> > or buy, dealer gets their money in full from the bank upfront. So they
> > have absolutely no financial interest in the vehicle.
> >
> >[color=darkred]
> >>You ARE going to pay a premium for this van, however...[/color]
> >
> >
> > Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
> > listed was for $16,900. If his payoff amount is only $13,500, he's
> > getting a bargain.
> >[/color]
> You seem to be mistaken. If he pays back the lease now, his cost is the
> $13,500 pay back price PLUS what he already paid at signing and per month.
>[/color]

Just like financing.

Every used car up for sale, SOMEONE paid the DEPRECIATED VALUE of the
vehicle. So the $16,900 Sienna that I mentioned, SOMEONE bought it,
made payments on it. Yet, it's $3400 MORE than the $13,500 owed on OP's
Sienna. So the OP's payoff amount is FAR LESS than if he were to turn
over the car and buy another used Sienna.

On Sun, 24 Sep 2006 15:05:19 -0400, Mike Hunter wrote:
[color=blue]
> Really? If Toyotas are such a hot commodity, why are they being sold at
> auction? That is where dealers dump cars. One does not sell something at
> wholesale that can be sold retail ;)
>
>
> mike hunt[/color]

Different reasons.
Usually they are salvage or flood damaged or stolen...

But they command high prices. We would buy three Escorts for the price of
one Corolla.

[color=blue]
>
>[color=green]
>>"Hachiroku" <Trueno@ae86.gts> wrote in message
>>news:OGzRg.3606$Zj4.1301@trndny04...
>> On Sun, 24 Sep 2006 11:52:42 -0400, Elmo P. Shagnasty wrote:
>>[color=darkred]
>>> In article <1159107665.452511.261790@e3g2000cwe.googlegroups.com>,
>>> [email]junkone1@gmail.com[/email] wrote:
>>>
>>>> I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>>>> finance.. the buyback price is 13.5k.
>>>> I have some extra money now and am wondering if i can just buyback the
>>>> sienna. Can i negotiate the buyback price. if so what should i be doing
>>>
>>> You probably cannot negotiate the buy back price.
>>>
>>> What you need to do is get all your ducks in a row and turn the car back
>>> in. Find out where it will go to auction. Find someone who specializes
>>> in finding the car at auction and buying it for you.
>>>
>>> My brother did just this, and saved $5000. I can get you the name of
>>> his guy if you'd like. It's not a big deal, but you'll be without the
>>> car for a month or so.[/color]
>>
>>
>> LOL! And hope somebody doesn't outbid you!
>>
>> Toyota's are hot commodities on the Auction market!
>>[/color][/color]

On Sun, 24 Sep 2006 15:35:02 -0700, Tush Smells Bush Kills!!!!!!!!!!!
wrote:
[color=blue]
>
> Hachiroku wrote:[color=green]
>> On Sun, 24 Sep 2006 08:10:51 -0700, Tush Smells Bush Kills!!!!!!!!!!!
>> wrote:
>>[color=darkred]
>> >
>> > Hachiroku wrote:
>> >> On Sun, 24 Sep 2006 07:21:05 -0700, junkone1 wrote:
>> >>
>> >> > HI
>> >> > I have a 05 Sienna and pay 525 pm as lease charge @ 4.9% to toyota
>> >> > finance.. the buyback price is 13.5k.
>> >> > I have some extra money now and am wondering if i can just buyback the
>> >> > sienna. Can i negotiate the buyback price. if so what should i be doing
>> >> >
>> >> > Seede
>> >>
>> >> You're going to pay through the nose to buy out this contract. They can
>> >> use a low mileage Sienna on their lot.
>> >>
>> >> Call Toyta Finance (probably where you make your payment) and talk to them
>> >> FIRST. The dealer will give you a run around about paying this and paying
>> >> that; TMCC has nothing to lose, so deal with them first.
>> >
>> > The dealer has NOTHING to do with his lease contract. Whether you lease
>> > or buy, dealer gets their money in full from the bank upfront. So they
>> > have absolutely no financial interest in the vehicle.[/color]
>>
>>
>> Let me 'splain it to you: that's why I mentioned TMCC, because if he went
>> to the dealer first, they'd give him a run around and try to jack up the
>> buyout.[/color]
>
> What are you talking about?????? The dealer HAS NO SAY WHATSOEVER in
> the buyout amount or anything else![/color]

Why not ask the OP who he was going to call first...


[color=blue]
>
> Leasing is just like financing. When you want to pay off your financed
> vehicle early, do you go to the dealer? NO! You call the bank. You deal
> with the bank. The dealer has NO SAY in the matter.
>
> If you call them, they will tell you the same: call the bank that
> financed or leased you. They can't do jack about anything.[/color]

It was probably leased through TMCC. Most of them are. THe dealer is the
agent.

All I said was, if he went to the dealer, they may rake him. The days of
good dealers of Toyotas are pretty much gone.


[color=blue]
>
>[color=green]
>> I *might* just know a bit about how Toyota dealers operate...[/color]
>
> But you obviously have no clue how leasing operates.[/color]


Right...
[color=blue]
>[color=green]
>>
>> And I'm pretty sure they would LOVE to have a low mile Sienna on the lot...
>>[/color]
>
> What are you talking about? He wants to PURCHASE the vehicle OUTRIGHT
> not turn it over the dealer.[/color]

Let me tell you one more time. Ready? THERE WILL PROBABLY BE A PENALTY FOR
BUYING OUT EARLY. Did you get it THAT time?

TMCC is planning on making X amount of interest on the vehicle. READ THE
FINE PRINT! There is usually an extra payoff for terminating the lease
early. Whether HE wants to purchase it, or get out of the leae just by
terminating it, ther is a penalty for early termination.

Did you think just because he's leasing the thing and wants to buy it,
they're going to cut him some slack?

Doesn't work that way.

He MAY be able to get them to waive the early termination fee.




[color=blue]
>
>[color=green][color=darkred]
>> >
>> >> You ARE going to pay a premium for this van, however...
>> >
>> > Not so. I've checked Autotrader.com and the lowest priced '05 Sienna
>> > listed was for $16,900. If his payoff amount is only $13,500, he's
>> > getting a bargain.[/color]
>>
>> But he's *NOT* done with the lease yet, and they may try to hit him with a
>> penalty for breaking the contract, Moose.
>>[/color]
>
> He's not talking about breaking the lease. He wants to BUY the contract
> out! In other words, he wants to purchase the vehicle outright so he
> doesn't have to make lease payments anymore.[/color]

It's STILL ealry termination of the lease, and he will have to pay
'interest' to put it simply.


[color=blue]
>
>[color=green]
>> The Buyout is the pay off figure at the *END* of the lease.[/color]
>
> That's the RESIDUAL VALUE. The buyout amount VARIES depending on when
> you request it. It differs month to month.[/color]