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HELP ! question about Toyota Lease

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Old 02-28-2012, 07:04 PM   #1
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HELP ! question about Toyota Lease

i leased a 2011 double cab tacoma on nov. 20, 2010 for $265 a month for 51 months.. i leased it with Southeast Toyota. I traded it in and leased a 2012 double cab V6 (what i originally wanted) for $286 a month for 51 months today. My question is, i am not going to get hit with some early termination am i? i mean i went back to toyota and financed with the same company for just a newer vehicle ! Help! There was no negative equity on the trade, there was actually a $3,000 positive equity down payment shown on the paperwork. Thanks guys !!!!
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Old 02-28-2012, 07:10 PM   #2
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bump
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Old 02-28-2012, 07:26 PM   #4
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is anyone familiar with Southeast Toyota on here?
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Old 02-28-2012, 07:29 PM   #5
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I had an '08 tacoma w/southeast toyota finance and my wife has a 2011 corolla with southeast toyota finance now......what's your question?
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Old 02-28-2012, 07:30 PM   #6
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hmm

Hmmm, I leased my first Tacoma and traded it in early, by about 6 months, but I think it has a payoff amount you can get at any time. I think the early termination is if you turn it in before the lease is up and you just walk away. But I am NO expert.
Surely they would let you know up front if they were going to hit you!

Cheers,
Michael S.
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Old 02-28-2012, 07:31 PM   #7
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i just need to make sure they wont charge me any kind of early termination fee, especially since i traded in a leased truck for another leased truck, using the same finance company
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Old 02-28-2012, 07:31 PM   #8
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Don't lease vehicles
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Old 02-28-2012, 07:33 PM   #9
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I'm sure these some fee . 51 month lease . Ouch .
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Old 02-28-2012, 08:23 PM   #10
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How does a 51 month lease work? I thought that it would be 12, 24, 36, 60 month leases, not 51. You may want to check with the dealership. The chances of us knowing that particular dealer is going to be slim to none.
I have a lease(first lease ever) and I am so glad that I am buying it out at the end and I will, never have to have a car payment again(knock on wood).
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Old 02-28-2012, 08:29 PM   #11
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Quote:
Originally Posted by TacoTitan11 View Post
i leased a 2011 double cab tacoma on nov. 20, 2010 for $265 a month for 51 months.. i leased it with Southeast Toyota. I traded it in and leased a 2012 double cab V6 (what i originally wanted) for $286 a month for 51 months today. My question is, i am not going to get hit with some early termination am i? i mean i went back to toyota and financed with the same company for just a newer vehicle ! Help! There was no negative equity on the trade, there was actually a $3,000 positive equity down payment shown on the paperwork. Thanks guys !!!!
If you did the deal, the numbers are done. If there was a fee, you've paid. Might want to read your agreement and statement. No one here has an answer for you, except you.
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Old 02-28-2012, 08:34 PM   #12
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Quote:
Originally Posted by elmo7 View Post
If you did the deal, the numbers are done. If there was a fee, you've paid. Might want to read your agreement and statement. No one here has an answer for you, except you.
I'm sure that they've bent you over and you paid for it without even knowing it.
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Old 02-28-2012, 08:35 PM   #13
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Yeah you'd have to read your agreement but I don't see how you can just trade in the lease whenever you want with no fee . That's why it's a lease . They didn't tell you when you got the new lease ? Hopefully you aren't on the hook for 2 leases now .
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Old 02-28-2012, 08:37 PM   #14
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Quote:
Originally Posted by Gelo760 View Post
Yeah you'd have to read your agreement but I don't see how you can just trade in the lease whenever you want with no fee . That's why it's a lease . They didn't tell you when you got the new lease ? Hopefully you aren't on the hook for 2 leases now .
Oh shit! I never even thought of that. Well OP you better find that stuff out. You might be getting double stuffed by the dealer and don't even know it.
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Old 02-28-2012, 08:40 PM   #15
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Quote:
Originally Posted by jw1983 View Post
How does a 51 month lease work? I thought that it would be 12, 24, 36, 60 month leases, not 51. You may want to check with the dealership. The chances of us knowing that particular dealer is going to be slim to none.
I have a lease(first lease ever) and I am so glad that I am buying it out at the end and I will, never have to have a car payment again(knock on wood).
Leases in Canada and the US are different
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Old 02-28-2012, 08:42 PM   #16
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Quote:
Originally Posted by OZ-T View Post
Leases in Canada and the US are different
Is there a big difference between ours and theirs(USA)?
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Old 02-28-2012, 08:44 PM   #17
I've seen things you people wouldn't believe ....
OZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shedOZ-T is one of the sharper tools in the shed
 
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Quote:
Originally Posted by jw1983 View Post
Is there a big difference between ours and theirs(USA)?
There was a crap load of discussion on it in another thread , I'll see if I can find it
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Old 02-28-2012, 09:09 PM   #19
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Quote:
Originally Posted by elmo7 View Post
If you did the deal, the numbers are done. If there was a fee, you've paid. Might want to read your agreement and statement. No one here has an answer for you, except you.
This.

You might be amortizing the fee in the new lease payments, or it might have been in your drive-off costs, but it is highly unlikely that you're going to be getting a bill.

That's how they keep people in an endless lease... if you continually stay with the same company, they'll simply roll any fees from mileage or the contract into the new lease, do you don't feel the pain until you finally decide that you want to buy, or want a different vehicle... then you discover that you're on the hook for enough to buy a new Tundra.
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Old 02-29-2012, 02:44 PM   #20
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Originally Posted by BEEFY_CHEESY_TACO View Post
x2...I don't understand dumping money into something that in a few years it goes away and you have nothing to show for it...

Marriage?
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