Best way to purchase out Lease?

Asked by Guru92V6Y2 Oct 13, 2022 at 07:21 PM about the 2022 Toyota Tacoma TRD Off Road Double Cab 4WD

Question type: Car Selling & Trading In

I purchased a 2022 Tacoma for MSRP of $41,080. With taxes it came out to
approx. $45,000. I put $12,500 down to get a good rate on the loan.

I put a lot of added features on to the retail contract because at the time I
had a monthly car allowance from my employer that covered it. See below:
- Tire & Wheel - $1,055
- Dent Repair - $1,122
- Toyota Plus - $1,420
- Toyota 10 year - $3,560

With all that said, it will still cost me approx. 40,000 to pay off the lean and
get the title. I am looking to sell it.  My question is does it make more sense
to cancel the add-ons and get the money back prorated. Or purchase out the
features and sell the car at a higher value?

1 Answer

155,185

If this is a lease you don't own the vehicle, you're renting it! Paying off the lease will not make the vehicle yours to sell. You're not paying on a loan you're paying on a lease agreement. In short, you didn't buy anything, you agreed to rent the vehicle! Jim

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