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I don't know much about leasing..

Discussion in 'General Automotive' started by TRDSport2006, Jun 17, 2009.

  1. Jun 17, 2009 at 4:42 AM
    #1
    TRDSport2006

    TRDSport2006 [OP] Well-Known Member

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    But my dad has a 2008 Volvo S80 on a 36 month lease (Think he has about 26 months left?) and I was wondering if I were to convince him to do a trade-in for a Tacoma how that might go about? I built the Volvo online and it came out about 40,000$ and I know that's well over what the Tacoma I built was.. but what are some things I need to know before bringing this up to him? He's had a Tacoma before and loved it but sold it to pay some things off :/.
     
  2. Jun 17, 2009 at 5:29 AM
    #2
    DanGer

    DanGer Avatar approved by 98tacomav6

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    White Head Light mod, White shorty antennae, Doug Thorley Long Tube headers, AFE Drop in air filter, Secondary Air Filter Removed,
    let him borrow yours for a few days and that should be enough :)
     
  3. Jun 17, 2009 at 11:50 AM
    #3
    TRDSport2006

    TRDSport2006 [OP] Well-Known Member

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    If only he didn't sell the one I was supposed to be driving, we wouldn't be in this mess. ;)
     
  4. Jun 17, 2009 at 12:11 PM
    #4
    Janster

    Janster Old & Forgetful

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    My husband got out of a lease before - a long time ago.
    The only way that I know of to get out of a lease early (without loosing your shirt), is to pay it off out-right. This avoids any fees/charges, etc and you might actually get revenue.

    You gotta call the leasing company and get an amount that it'll cost to pay off the vehicle out-right (to own it ).

    Then - you basically gotta sell it or trade it in and HOPE the amount of money you get for it will cover the entire cost of the pay-out (and maybe some extra). If it doesn't - then they (toyota dealer) can attach the leftover loan amount onto the truck loan/cost.

    You'd have to do a lot of number crunching to see where you benefit most. To sell the privately or trade it in, etc.

    My husband traded in an Acura and actually gained $$ in the deal to put towards a down payment on something else. It all depends....
     
  5. Jun 17, 2009 at 12:31 PM
    #5
    TRDSport2006

    TRDSport2006 [OP] Well-Known Member

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    02 Corolla
    Thanks :) That was very helpful.
     
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