coltboostin Posted October 17, 2016 Report Share Posted October 17, 2016 CR- I will be turning in my wife's Rav-4 next month. Is the first, and will be the last car I lease, so I am a bit green to turn in. I read some horror stories about random bills coming in months after the car was turned in. I did buy the ancillary car "wear and tear" converge, but the car has a rub and a ding on 2 separate panels. I also read somewhere that you can go for a pre-turn in inspection to get an idea of what, if anything, I will be charged. Is this legit or just a means for them to nickle and dime the car by a thrid part before they get it back? In the end, I want to keep the most money in my pocket. If I need to get the bumper painted and dent pulled, I'd rather have my boy do it instead of letting Toyota bill me later! If it matters, its well under mileage as well. Let me know what your experience and recommendations are. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted October 17, 2016 Report Share Posted October 17, 2016 I've got this coming up in June and am nervous as shit- good luck. I've always thought it'd be funny to send them a bill for the "under mileage" of the car haha. Like hey, I paid for 30k miles and only put 23k on it- here's your bill for the positive value of the car. Quote Link to comment Share on other sites More sharing options...
2highpsi Posted October 17, 2016 Report Share Posted October 17, 2016 If you are well under miles, you may be better off selling it rather than turning it in. Call Toyota and find out what the "third party" buyout figure is. Email me that number along with VIN and miles, and I'll let ya know. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted October 17, 2016 Report Share Posted October 17, 2016 If you are well under miles, you may be better off selling it rather than turning it in. Call Toyota and find out what the "third party" buyout figure is. Email me that number along with VIN and miles, and I'll let ya know. My car is 18 months old and 7k under mileage on the lease and there's a 7k difference in value. Appraised at 15k and "buyout" is 22k. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted October 17, 2016 Report Share Posted October 17, 2016 If you are well under miles, you may be better off selling it rather than turning it in. Call Toyota and find out what the "third party" buyout figure is. Email me that number along with VIN and miles, and I'll let ya know. ^^ this, depending on what the residual / payoff left is. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted October 17, 2016 Author Report Share Posted October 17, 2016 If you are well under miles, you may be better off selling it rather than turning it in. Call Toyota and find out what the "third party" buyout figure is. Email me that number along with VIN and miles, and I'll let ya know. Great minds think alike! I asked them just that an hour ago and I dont know how its possible, but the residual is well under market. PM coming Quote Link to comment Share on other sites More sharing options...
2highpsi Posted October 17, 2016 Report Share Posted October 17, 2016 My car is 18 months old and 7k under mileage on the lease and there's a 7k difference in value. Appraised at 15k and "buyout" is 22k. Yeah, it doesn't always work. Being only 18 months into the lease almost everyone is buried. No idea what kind of lease term JP did... but sometimes on the 36 month leases when the customer is way under on miles, they have some equity. It's always atleast worth checking. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted October 17, 2016 Report Share Posted October 17, 2016 Yeah, it doesn't always work. Being only 18 months into the lease almost everyone is buried. No idea what kind of lease term JP did... but sometimes on the 36 month leases when the customer is way under on miles, they have some equity. It's always atleast worth checking. Good point...maybe I'll send you my numbers just to check. I did a 2 year/30k mile lease. I'm at 23k now and bought another car so it's just sitting in the driveway. Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted October 17, 2016 Report Share Posted October 17, 2016 Not sure how it works with Toyota, but I leased my 2012 accord and turn in couldn't of been easier. about 2 months -6 weeks before your turn in time they call and schedule inspection (they came tom y home) and inspected the entire car top to bottom which took about 45 minutes. they then go over the entire process. During the inspection they informed me they allow up to like 2 k in damages automatically free of charge. I had a baseball side scuff on my rear bumber and the person doing the inspection laughed when I asked if I needed to get it fixed before turning in. I guess they get some pretty beat up stuff They took pictures to document all the "damage" for there records. After the inspection they sign off saying good to go, and then when its time to turn it in you just cal a local dealer who will accept it in(they all are supposed to but a lot will all of a sudden say they don't have any times to accept it and make you go somewhere else. PS forget you Lindsay Honda) then you just schedule to drop it off , quick glance over you fill out some paperwork and be on your way. So long as nothing happened between your inspection and turn in your golden . Quote Link to comment Share on other sites More sharing options...
coltboostin Posted October 17, 2016 Author Report Share Posted October 17, 2016 Im under. Market retail is 2-3k higher than my buyout. Cray cray. Maybe Ford's just depreciate faster? Quote Link to comment Share on other sites More sharing options...
coltboostin Posted October 17, 2016 Author Report Share Posted October 17, 2016 During the inspection they informed me they allow up to like 2 k in damages automatically free of charge. I had a baseball side scuff on my rear bumber and the person doing the inspection laughed when I asked if I needed to get it fixed before turning in. I guess they get some pretty beat up stuff They took pictures to document all the "damage" for there records. So long as nothing happened between your inspection and turn in your golden . From what I read, you have NO notion you are being charged until you get the bill. Almost a bit of a bait and switch. 2k damage allowance seems excessive. I do remember when we picked it up that you are allowed "one scratch and once dent not larger than a credit card" but there is some "leniency". I don't like all the gray area in that statement. Quote Link to comment Share on other sites More sharing options...
Geeto67 Posted October 17, 2016 Report Share Posted October 17, 2016 but sometimes on the 36 month leases when the customer is way under on miles, they have some equity. This. So many people don't realize that a lease can accrue equity that you can turn into cash by either having someone else buy the car, or use the equity as a down payment on another lease or a finance for a new car. As much as I am not a fan of edmunds, here is an article to give you a basic idea of how it works: http://www.edmunds.com/car-leasing/3-ways-to-turn-your-lease-into-cash.html I can't believe how many people walk away from leases leaving something on the table. Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted October 17, 2016 Report Share Posted October 17, 2016 From what I read, you have NO notion you are being charged until you get the bill. Almost a bit of a bait and switch. 2k damage allowance seems excessive. I do remember when we picked it up that you are allowed "one scratch and once dent not larger than a credit card" but there is some "leniency". I don't like all the gray area in that statement. Toyota might do it very different then honda. Cause they were very easy going was straight forward with no grey areas. Might be best to call them and see how there process is. Quote Link to comment Share on other sites More sharing options...
Suprafiedd Posted October 18, 2016 Report Share Posted October 18, 2016 Just did this with Lexus to get another. No issues at all including the window tint that was still present. Granted the car I turned in looked better than the new one I was picking up for my wife. No out of pocket costs were applied post the final inspection at the dealer. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted October 18, 2016 Author Report Share Posted October 18, 2016 Just did this with Lexus to get another. No issues at all including the window tint that was still present. Granted the car I turned in looked better than the new one I was picking up for my wife. No out of pocket costs were applied post the final inspection at the dealer. How long ago did you turn it in? Did you do the pre turn-in inspection? Quote Link to comment Share on other sites More sharing options...
Suprafiedd Posted October 18, 2016 Report Share Posted October 18, 2016 How long ago did you turn it in? Did you do the pre turn-in inspection? no pre-inspection. The car had some nasty scratches from carpet falling on it a couple years ago. I was able to wetsand/buff 98% of it out. I did the turn-in over 6 months ago. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted October 19, 2016 Report Share Posted October 19, 2016 If you are well under miles, you may be better off selling it rather than turning it in. Call Toyota and find out what the "third party" buyout figure is. Email me that number along with VIN and miles, and I'll let ya know. http://www.swapalease.com ?? Quote Link to comment Share on other sites More sharing options...
caseyctsv Posted October 19, 2016 Report Share Posted October 19, 2016 I used to lease all of my cars and never had any trouble with a lease return. The return process varies depending on who financed the deal. I would suspect if the residual is a lot higher than market you would be more likely to pay some sort of damage charge. I would also expect that the smaller finance companies that lease to riskier customers from a credit perspective would be much tougher to deal with. Toyota Finance should be painless. (My info may be dated as I have not leased a car in nearly 10 years so this may not be helpful) Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted October 19, 2016 Report Share Posted October 19, 2016 Our Rav4 is up in Feb. and I was wondering all the same things. Hopefully it goes well. We will be over in mileage, but not by much so I am already paying something. Quote Link to comment Share on other sites More sharing options...
Bam Posted October 19, 2016 Report Share Posted October 19, 2016 Lol we leased my wife a RAV4 as well, first lease for us so I'm of course curious how it'll all work out. Please keep the thread updated so I have an idea of what to expect. Quote Link to comment Share on other sites More sharing options...
BigOxley Posted October 19, 2016 Report Share Posted October 19, 2016 Going to turn a Toyota in Feb. don't expect any problems, under mileage and no dings on the car. I think you should "be interested" in buying or leasing another, use that to your advantage. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
Bam Posted October 19, 2016 Report Share Posted October 19, 2016 ^^Agreed. Curious what people leased for....term/miles. This was our first lease so we just did the 36month/36k lease, but are most doing that, or shorter or different mileage? Wondering where you get the most bang for your buck I guess. Quote Link to comment Share on other sites More sharing options...
BigOxley Posted October 19, 2016 Report Share Posted October 19, 2016 I did a Camry 2 year/24k sign and drive with a $375 turn in fee. I'd consider doing it again. Might get a v6 or Avalon this go around. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted October 19, 2016 Report Share Posted October 19, 2016 Ours is also a 2-yr / 24K. $0.15/mile overage. It was $240/mo. since we had no trade in...would have had to be a total junk beater to gain anything from it since it would have went to $199. This last year my brother went and grabbed one of the $99/mo. Corolla S's. Pretty slick deal for a 'rental'. We are certainly interested in buying a used car this go around...so they will have a first crack at our short list of candidates. Also should probably reach out to Jordan based on the CR feedback here. Quote Link to comment Share on other sites More sharing options...
Bam Posted October 19, 2016 Report Share Posted October 19, 2016 Wow, new car for $99/month? Like nothing out of pocket? We did 3yr/36k and it was also $240/month with no out of pocket. It's a nice car for my wife, and really didn't seem bad for the money. Quote Link to comment Share on other sites More sharing options...
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