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 !!!!

 

bump

 

That should be in the contract you signed....as far as an early termination fee, that is.

 

is anyone familiar with Southeast Toyota on here?

 

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?

 

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.

 

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

 

Don't lease vehicles

 

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).

 

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.

 

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.

 

Leases in Canada and the US are different

 

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

 

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...

 

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.

 

Marriage?

 

Children?

 

That is bad information. You can ALWAYS buy out a lease at any time. You call your lease company and ask them what your payoff is and you can write them a check. When you trade the vehicle in, this is essentially what the dealer is doing.