We've had our dealership in the past use some of the equity towards the down payment of the next leased vehicle (from the same dealership). As I'm soon going to be leasing Hyundai #5 from the same dealership, I have already been there (service appointments) to look into which next crossover I lease, and told them that I WILL have enough equity to save a few thousand dollars off MSRP for the next one.
I have a 2021 Highlander Platinum Hybrid that only has 16,000 miles on it, and the lease is up Sept 4th. It is also in excellent condition. My risidule is 34k, and I have received 2 quotes so far. 36k from BMW and 38k from Toyota. I have a tough decision to make because I would like a more luxury type of suv to drive. Lexus TX, BMW X3 or X5. Lincoln Nautilus, even the 2025 Buick Avenir. I have time, but not that much. Great video. Thanks!! Subscribing right now. 👍
im leasing a prius prime and looking to buy a used EV. i noticed i have about $4k positive equity on my lease already and it dawned on me that I should start looking now and not in a few months when my lease is up. this video confirmed a lot of what i knew but no one ever talks about lease equity so i wasn't sure. i just need to confirm if my lease company (toyota) allows for 3rd party buy outs and i should be good !
I learned the hard way with my 15 highlander. Stupid me returned it and walked away to lease at mazda.😂 but when I returned my mazda at toyota I got 9k equity towards a 22 4 runner back in 21. Now I will purchase my 4 runner when the lease ends. Done with leasing
Question to you sir. I am currently leasing a new car, the maximum amount of miles I can drive for 3 years is 30k miles. I love this car. I drive it a lot. Do you think I can drive it as much as I want as long as I am planning to buy the leased car at the end of the lease? Can I also use the car for rideshare work like uber? I am gonna buy it at the end of the lease.
Thank you for the great advice? One thing that isn’t clear or explaining the video is in the scenario in which you sell your car to a dealer, how do the taxes work, at least in your state?
Check the market value of your car and the buyout price of your lease. If you the market value is higher, there is a good chance that you have positive equity in your leased car.
Very helpful and comprehensive video (thank you!) and almost my exact situation. Can I sell the leased car privately with the buyer paying Toyota the residual and me the market difference? I'd like to avoid purchasing the vehicle upfront. The dealer recommended I try to sell it privately as I could get more on the market than what they would offer me. Wondering how this all works with a private sale and a lien on the vehicle.
Thanks for this! I’m in almost same situation as your example. How do you account for early termination fee? I almost went with Option 2, but decided not to last minute due to this. Is that something I should worry about or generally not? I have 3 more lease payments left.
The offer they make you will likely have their margin built in so that they can turn around and sell the car for a profit. You could buy the car and sell it yourself, but then you end up paying taxes on the purchase price. So in my opinion, selling to the dealer is the better way to go.
I have sold my last 3 Tundras to dealers before my lease was up. Because there was positive equity vs. residual, it was easy and there were good new leases to get into. This year is another story! I'm trying to be humble and step down a model to the Tacoma, but these terrible new leases appear to be a punch in the face!
We've had our dealership in the past use some of the equity towards the down payment of the next leased vehicle (from the same dealership). As I'm soon going to be leasing Hyundai #5 from the same dealership, I have already been there (service appointments) to look into which next crossover I lease, and told them that I WILL have enough equity to save a few thousand dollars off MSRP for the next one.
I have a 2021 Highlander Platinum Hybrid that only has 16,000 miles on it, and the lease is up Sept 4th. It is also in excellent condition. My risidule is 34k, and I have received 2 quotes so far. 36k from BMW and 38k from Toyota. I have a tough decision to make because I would like a more luxury type of suv to drive. Lexus TX, BMW X3 or X5. Lincoln Nautilus, even the 2025 Buick Avenir.
I have time, but not that much. Great video. Thanks!! Subscribing right now. 👍
im leasing a prius prime and looking to buy a used EV. i noticed i have about $4k positive equity on my lease already and it dawned on me that I should start looking now and not in a few months when my lease is up. this video confirmed a lot of what i knew but no one ever talks about lease equity so i wasn't sure. i just need to confirm if my lease company (toyota) allows for 3rd party buy outs and i should be good !
You want to buy my ev
Very helpful. My 4Runner is up in October and I’m going to follow your advice!
This is amazing content! I feel extremely empowered on how to handle the end of my lease thanks to you. Really great stuff
I learned the hard way with my 15 highlander. Stupid me returned it and walked away to lease at mazda.😂 but when I returned my mazda at toyota I got 9k equity towards a 22 4 runner back in 21. Now I will purchase my 4 runner when the lease ends. Done with leasing
I wonder if I purchase a leased vehicle I need to pay all those dealer fees and taxes ?
THANK YOU!!! This video was so helpful!!! 😊🙌🏻
You’re welcome!
great video, efficiently & clearly explained, thanks a lot!
Thank you! 🙏🏾
I have a 22 dodge scat and wanna upgrade to the jailbreak or trx what would be the best Option trade in or sell back?
Extreamly helpful
Thanks so much
Question to you sir. I am currently leasing a new car, the maximum amount of miles I can drive for 3 years is 30k miles. I love this car. I drive it a lot. Do you think I can drive it as much as I want as long as I am planning to buy the leased car at the end of the lease? Can I also use the car for rideshare work like uber? I am gonna buy it at the end of the lease.
Great info!
The dealers force you to buy extended warranty at lease buyout.
Thank you for the great advice? One thing that isn’t clear or explaining the video is in the scenario in which you sell your car to a dealer, how do the taxes work, at least in your state?
How do you verify the cars value before going into the dealer?
My lease is up in 2 weeks. My buyout is 15k, car is worth $26to $32k. Not sure what to do. Finance rates are really high to finance the amount.
I'd Take the cash then go to Mazda and jump on a 0% new purchase or a cx90 lease. Congrats what a great problem to have.
Great content - What is the best, accurate and reliable way to determine if I have positive equity in my car?
Check the market value of your car and the buyout price of your lease. If you the market value is higher, there is a good chance that you have positive equity in your leased car.
Very helpful and comprehensive video (thank you!) and almost my exact situation. Can I sell the leased car privately with the buyer paying Toyota the residual and me the market difference? I'd like to avoid purchasing the vehicle upfront. The dealer recommended I try to sell it privately as I could get more on the market than what they would offer me. Wondering how this all works with a private sale and a lien on the vehicle.
GMC won't allow a 3rd party but can I have my credit union buy out the lease?
Thanks for this! I’m in almost same situation as your example. How do you account for early termination fee? I almost went with Option 2, but decided not to last minute due to this. Is that something I should worry about or generally not? I have 3 more lease payments left.
What can I do if I turned in the car yesterday?!? I forgot they said I had equity jeez I’m so not informed
Great stuff. But where is the profit for the dealer if they're giving you a check for the positive equity?
The offer they make you will likely have their margin built in so that they can turn around and sell the car for a profit. You could buy the car and sell it yourself, but then you end up paying taxes on the purchase price. So in my opinion, selling to the dealer is the better way to go.
Unfortunately Infiniti doesn't allow 3rd party lease buyouts which limits my options a bit
I have sold my last 3 Tundras to dealers before my lease was up. Because there was positive equity vs. residual, it was easy and there were good new leases to get into. This year is another story! I'm trying to be humble and step down a model to the Tacoma, but these terrible new leases appear to be a punch in the face!
Also, I recently asked and was told Toyota doesn't restrict who I sell my leased Tundra to.
a family member wants my vehicle for the fantastic lease buyout price but I told him ''you wish buddy''