Hello, I'm looking for advice from anyone that has bought out their Tacoma at the end of a lease. (I'm in Canada so anyone in Canada I would love to hear from)
At the end of 2020 I decided to get my first Tacoma and my first car/truck lease. After visiting one Toyota dealership and trying to do a 'deal' with the guy I found out that he was basically using the "Tacoma Builder/calculator " available publicly on Toyota.ca to get all his numbers from (lease cost, residual value etc) and that there was no real 'deal' to be made.
I left the dealership empty handed but started doing my own calculations using the same calculator when I got home. Increase the deposit, change the lease length etc to try and get the cheapest monthly cost. Once I had what I wanted I made a note of all the values (including the residual value) the calculator was giving me and proceeded to head to the dealership to order.
Once there I gave another sales guy all the info for how I wanted to structure the lease, ordered it and drove away in a new 2021 Tacoma a few weeks later.
Now as I approach the end of my lease (6 weeks away) I unfortunately have no idea what happened to that 'note', however I do remember that the residual value listed on toyota.ca started with a '2' and was in the range of $24,000 - $26,000 CAD.
Here's my problem, a few weeks ago I was in touch with another Toyota dealership (where I get it serviced) and they sent me some numbers to buy out the lease at that time, for some reason they quoted me around $32,000 to buy it out which is obviously a significant increase and I can't believe that price will 'drop' in 6 weeks time.
Does anyone know how this happened? I was under the impression that the residual value was fixed at the time the lease started and the dealership can't just increase it based on actual market values of similar vehicles?
Are there any negotiating tactics people use when buying out the lease at the end or am I pretty much screwed because if I don't pay what they say I have to give the vehicle back to them.
And I'm predicting that if I decide to complain they will just show me listings for other 2021 Tacomas for sale on autotrader at $40,000+ and say "see what a good deal you're getting"
Anyone else been through similar?
Thanks
At the end of 2020 I decided to get my first Tacoma and my first car/truck lease. After visiting one Toyota dealership and trying to do a 'deal' with the guy I found out that he was basically using the "Tacoma Builder/calculator " available publicly on Toyota.ca to get all his numbers from (lease cost, residual value etc) and that there was no real 'deal' to be made.
I left the dealership empty handed but started doing my own calculations using the same calculator when I got home. Increase the deposit, change the lease length etc to try and get the cheapest monthly cost. Once I had what I wanted I made a note of all the values (including the residual value) the calculator was giving me and proceeded to head to the dealership to order.
Once there I gave another sales guy all the info for how I wanted to structure the lease, ordered it and drove away in a new 2021 Tacoma a few weeks later.
Now as I approach the end of my lease (6 weeks away) I unfortunately have no idea what happened to that 'note', however I do remember that the residual value listed on toyota.ca started with a '2' and was in the range of $24,000 - $26,000 CAD.
Here's my problem, a few weeks ago I was in touch with another Toyota dealership (where I get it serviced) and they sent me some numbers to buy out the lease at that time, for some reason they quoted me around $32,000 to buy it out which is obviously a significant increase and I can't believe that price will 'drop' in 6 weeks time.
Does anyone know how this happened? I was under the impression that the residual value was fixed at the time the lease started and the dealership can't just increase it based on actual market values of similar vehicles?
Are there any negotiating tactics people use when buying out the lease at the end or am I pretty much screwed because if I don't pay what they say I have to give the vehicle back to them.
And I'm predicting that if I decide to complain they will just show me listings for other 2021 Tacomas for sale on autotrader at $40,000+ and say "see what a good deal you're getting"
Anyone else been through similar?
Thanks
