Rear ended

Didn't look too bad at the time, but crawled under and found bent metal. Can anyone let me know what to generally expect. I am not sure if it is part of the frame or tow package.

The guy's insurance will cover it. I am considering metal bumpers but being a lease, not sure yet so that is a whole different post.

 

How fast? Based on the kia, I'm thinking there is no way you have anything major going on. You might want to do color matched or black, but I wouldn't out a plate bumper on a lease. If you're able to do anything at all, doesn't seem like much damage.

 

Definitely don't get a plate bumper when your leasing, unless you know for a fact your going to buyout that lease. Usually because you more likely than not, need to modify other plastic components to install and the dealership won't like that on return. Just let the insurance handle everything and get back up to stock.

 

Although, I don't know why anyone would ever just return the vehicle instead of selling it privately. You can usually net a few grand by selling it yourself (depending on the terms of the buyout on the lease, of course).

Also, that damage--doesn't look bad at all. They'll probably spend a couple hundred bucks replacing a plastic piece or two.

 

Some dealerships, like mine (recently) started a trade in program. Trade back in your lease for the newest model with no changes to your payments. Of course the dealerships always win, but some people, like a friend I know can't be in the same vehicle too long, they keep upgrading.

 

Hundreds of dollars to replace these bumpers. Center plastic piece is over 200 and the “metal” center support is about as stout as a beer can

 

This ^^^ Bet with a plate bumper the other driver would have paid closer attention. Just sayin. Doesn't look like much damage, get the dealer to look at it then decide. Plate bumpers are 700ish.

I have one because of similar issue. No I dont have to worry about someone whacking me in a parking lot anymore. The same thing could happen with truck parked. other driver looks at your truck (maybe) and drives off. With these bumpers they are VERY flimsy doesn't take much to do $1400 damage.

 

I'm not sure how fast, but maybe 5mph MAX. I just don't know how the bumper is assembled so I am just curious if this is a plate or welded to a much larger piece. The metal is bent back, and just one piece of cracked plastic from what I can see. Definitely not bad

 

Put on a plate bumper so the next guy can appreciate it. What the Hell

 

Either pocket the repair cash and live with the minimal "damage" or get a plate bumper as you might as well upgrade if you're spend the $ to fix it.

It being a lease should not be a factor in your consideration as there should be no reason for you to ever actually give this truck back to toyota. You'll either buy it, sell it private party, or trade it in. I've never seen a Tacoma NOT have equity at the end of a lease so giving it back to toyota would be foolish as you'd be leaving $ on the table for THEM to pocket.

 

That answers that question

 

Unless you have negative equity built in from a previous lease .

 

Doesn't matter, rolling in previous negative would only make your lease payment higher, it does not change your residual value which is what your current equity situation would be based off of (edit: unless you're talking about trading in the lease EARLY, but at the end of the lease the residual will be the same rather you rolled in previous negative or not)

 

Isn't the negative equity rolled into the purchase option at the end, which residual and monthly is tied to? I gotta look at my lease papers but I had like $3500 in remaining payments and over mileage from a Jeep (they got me out three months early and was 14,000 miles over)

 

Leases sound so dang complicated. This reminds me why I like purchasing my vehicle outright.

 

I'm never leasing again .I've leased two out of four vehicles and the only reason I leased again is to get out of a shitty situation on my previous lease -- had a change in commute and severely overblew my mileage allowance. Now I'm all good with the Taco. We just bought a Hyundai certified pre-owned and it's a dream to drive without any worry .

 

Thats why you should have a long hitch sticking out. I was saved last by mine during the hurricane evacs in Fl last year. Bumper to bumper traffic on the Interstate some woman runs into me from behind. I pull fwd and her bumper is a crushed in lol.

 

No, negative equity is simply added to the sales price and raises your cap cost (but does not effect residual), thats actually a good thing about leasing when it comes to getting out of negative equity, on a lease you're forcing yourself to pay off all the negative in 3 years. So if you're say $8k upside down in your current car and you roll it into a lease then 3 years from now you're free and clear. If you take that same $8k negative and roll it into a 72 month loan you're gonna be upside down for the next 6 years and basically married to whatever car you just burried yourself into.

To use an EXTREMELY simplified example:

Lease #1
Lease price $200 for 10 months

Residual value $100

Fees and everything exluded your payment is $10/month ($200 - $100 = $100 / 10 months = $10), and your end of lease purchase is $100.

But lets say you're rolling in $50 of negative equity:

Lease #2
Lease price $200 + $50 = $250

Resdiaul Value $100

Fees and everything excluded your payment is $15/month ($250 - $100 = $150 / 10 months = $15), and your end of lease purchas is still $100

So as you can see if you decided to end this lease EARLY then you'd owe more on lease #2 as you started out at $250 instead of $200... but by the end of the lease you're in the exact same situation (both leases have a payoff of $100 at the end), thus the only difference is the monthly payment in the meantime.

Hope this doesn't make it more confusing lol

 

I may be PMing you later, if that's ok, once I look at my lease. Because you just changed things for me...I was under the impression that if I was to buy it at lease end, I'd be paying $3500 more than the vehicle is worth. But you're saying I'd have already taken care of that through my monthly. Maybe I will consider keeping this truck after all....