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HELP ! question about Toyota Lease

Discussion in '2nd Gen. Tacomas' started by TacoTitan11, Feb 28, 2012.

  1. Feb 28, 2012 at 6:04 PM
    #1
    TacoTitan11

    TacoTitan11 [OP] Well-Known Member

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    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 !!!!:confused:
     
  2. Feb 28, 2012 at 6:10 PM
    #2
    TacoTitan11

    TacoTitan11 [OP] Well-Known Member

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  3. Feb 28, 2012 at 6:23 PM
    #3
    BEEFY_CHEESY_TACO

    BEEFY_CHEESY_TACO DUDE MAN BRO

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    That should be in the contract you signed....as far as an early termination fee, that is.
     
  4. Feb 28, 2012 at 6:26 PM
    #4
    TacoTitan11

    TacoTitan11 [OP] Well-Known Member

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    is anyone familiar with Southeast Toyota on here?
     
  5. Feb 28, 2012 at 6:29 PM
    #5
    jtgroce

    jtgroce Got R Did

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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?
     
  6. Feb 28, 2012 at 6:30 PM
    #6
    Toytruckmike

    Toytruckmike Well-Known Member

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    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.
     
  7. Feb 28, 2012 at 6:31 PM
    #7
    TacoTitan11

    TacoTitan11 [OP] Well-Known Member

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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
     
  8. Feb 28, 2012 at 6:31 PM
    #8
    rdd11

    rdd11 Well-Known Member

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    Don't lease vehicles
     
  9. Feb 28, 2012 at 6:33 PM
    #9
    MightyMouse-SCT

    MightyMouse-SCT Well-Known Member

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    I'm sure these some fee . 51 month lease . Ouch .
     
  10. Feb 28, 2012 at 7:23 PM
    #10
    jw1983

    jw1983 Well-Known Member

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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).
     
  11. Feb 28, 2012 at 7:29 PM
    #11
    elmo7

    elmo7 Easily Replaceable Member

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    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.
     
  12. Feb 28, 2012 at 7:34 PM
    #12
    jw1983

    jw1983 Well-Known Member

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    I'm sure that they've bent you over and you paid for it without even knowing it.
     
  13. Feb 28, 2012 at 7:35 PM
    #13
    MightyMouse-SCT

    MightyMouse-SCT Well-Known Member

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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 .
     
  14. Feb 28, 2012 at 7:37 PM
    #14
    jw1983

    jw1983 Well-Known Member

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    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.
     
  15. Feb 28, 2012 at 7:40 PM
    #15
    OZ-T

    OZ-T All of those moments....will be lost.....in time

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    Leases in Canada and the US are different
     
  16. Feb 28, 2012 at 7:42 PM
    #16
    jw1983

    jw1983 Well-Known Member

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    Is there a big difference between ours and theirs(USA)?
     
  17. Feb 28, 2012 at 7:44 PM
    #17
    OZ-T

    OZ-T All of those moments....will be lost.....in time

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    There was a crap load of discussion on it in another thread , I'll see if I can find it
     
  18. Feb 28, 2012 at 7:45 PM
    #18
    BEEFY_CHEESY_TACO

    BEEFY_CHEESY_TACO DUDE MAN BRO

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    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...
     
  19. Feb 28, 2012 at 8:09 PM
    #19
    Rich91710

    Rich91710 Well-Known Member

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    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.
     
  20. Feb 29, 2012 at 1:44 PM
    #20
    Carl Spackler

    Carl Spackler Member

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    Marriage?
     
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