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Diminished value on a leased vehicle?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by YatYas1833, Apr 5, 2023.

  1. Apr 6, 2023 at 11:49 AM
    #21
    fourfourone

    fourfourone Well-Known Member

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    It's not someone's job to read your lease lol. Be a little self-sufficient here.

    You should probably read legally binding contracts before you sign them.
     
    ToyoTaco25 and DWD484 like this.
  2. Apr 6, 2023 at 11:50 AM
    #22
    jwctaco

    jwctaco Retired, going slow in the fast lane

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    It is unfortunate but car dealers for the most part are scum bags. Military/ Public Safety should get a break/better deal.
     
  3. Apr 6, 2023 at 11:55 AM
    #23
    jwctaco

    jwctaco Retired, going slow in the fast lane

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    Apologize, didn’t mean to offend. I have leased in the past. It’s just cheaper in the long run to buy. Not always possible, I get it. Thank you for your public service.
     
    Chew likes this.
  4. Apr 6, 2023 at 1:02 PM
    #24
    TACOTU3

    TACOTU3 Well-Known Member

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    See above. Everything is negotiable. Your leverage is not exercising the contract as written, if they want the sale they will come back to the table. Worst they can say is no.
     
  5. Apr 6, 2023 at 1:10 PM
    #25
    vivid02

    vivid02 Buy a Tesla…..I need the gas.

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    I am a Sagittarius . :D


    Actually leasing and then buying out your Tacoma is a good option since they hold their value so high.
    At lease end your buyout price might be decently amount lower than current market value. You will have actual equity at the end.

    But yes fight like hell to get diminished value!
    :thumbsup:
     
    fourfourone likes this.
  6. Apr 6, 2023 at 2:20 PM
    #26
    Nirango kid

    Nirango kid Well-Known Member

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    I had lease a Tacoma a few years back. The ruck was stolen from my yard in the middle of the night and was found 4 days later burnt to a crisp. No reason why it was stolen and destroyed other than whoever did it made a mistake and stole the wrong model that is what the cops thought. Anyways make it shorter I had a policy that replaces the full value of the vehicles in a 3 year limit. My lease was 2 years old so they gave me full original price of the vehicle + I had the windows etched so got another 5,000.00 from another insurance. After all this walked into the Toyota dealer and made the deal that I pay off the lease with the insurance money and ended up buying a new Tacoma for the difference which was a hell of deal for me. just saying
     
  7. Apr 6, 2023 at 3:23 PM
    #27
    na8rboy

    na8rboy 18 DCLB Sport Cement

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    Far from, their insurance company offered it. Plus I bought it at end of lease. Also if I would of had to pay any additional cost, from what accident cause at lease termination, that would of covered the cost. This was how my insurance company handled it. I'm sure one of the top insurance companies know how to handle it this situation. Get your facts straight. Before assume thing have no clue about. Added this was a business/equipment lease through a bank, where buyout is a $1. Which I'm sure you have no clue about.
     
    Last edited: Apr 6, 2023
    Phlogiston likes this.
  8. Apr 6, 2023 at 4:01 PM
    #28
    cromag27

    cromag27 THE insurance expert - licensed in all 50 states

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    there are several different types of diminished value. filing a dv claim can vary on the state, your insurance contract and how the accident happened. your best resource is your insurance company.
     
    na8rboy likes this.
  9. Apr 6, 2023 at 4:46 PM
    #29
    Hogleg918

    Hogleg918 Well-Known Member

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    You’re the example I used to use when selling cars and we pre-loaded etch on all cars. For the 1% of the time a car is stolen it’s beneficial. I hated selling the product though.
     
  10. Apr 6, 2023 at 6:40 PM
    #30
    Nirango kid

    Nirango kid Well-Known Member

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    I was a bit leery at first to buying the etching insurance cause they guaranteed that if the vehicle was stolen they would have to replace all the windows as they were etched and this made it a turn off for thieves. I was lucky to have them done cause it paid off in the end. Not sure if you can get etching insurance these days cause this was back in 2003. just saying
     
  11. Apr 8, 2023 at 11:28 AM
    #31
    cromag27

    cromag27 THE insurance expert - licensed in all 50 states

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    sometimes you can get a discount with your insurance company for vin etching.
     

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