Tips on Buying Cars: Buying my leased toyota., owner loyalty, auction prices


Question
Hi Jeremy,
My 2005 Toyota Rav4L's five year lease is up at the end of July and I am wondering about the best way to negotiate buying it? The car will almost be at it's 75,000 mile limit and is in very good condition with regular maintenance and careful driving (no dings). What is my best strategy in these days of Toyota turmoil?
Thanks so much.
Karen

Answer
Karen,

Unfortunately there really isn't any negotiating on a lease return.  There used to be, but with the hard times that all of the manufactures have come upon - whatever your residual is, is what you can buy the car for, otherwise they will simply take it to the auction with auction prices so high right now, they will most likely make money on it.  Now with that being said, Toyota is offering owner loyalty rebates IF you buy a new Toyota, but not if you just want to buy your lease out right.

I wish I could give you some better news, but I really can't.

Thanks for your question.

Thanks - JB