Lease-End Option 1: Trade-In Your Current Lease

Trade-In your current Toyota lease for a new one

Toyota Lease-End Option 1: Trade-In Your Vehicle and Purchase or Lease a New Toyota

Congratulations! Your lease is almost up and you have the option to turn-in your current car, truck or SUV and lease or finance a newer, better Toyota! 

The Dealer Buys The Car From The Leasing Company
Larry H. Miller Downtown Toyota will pay off the balance of your old lease and we will buy the vehicle for our used car lot. We will then give you trade-in credit for the vehicle you leased and will either add or deduct any difference to your new lease or purchase. If the cost of paying off your lease is higher for us than the credit we give you for your car, the deficit, or the negative equity, will be added to your new lease or purchase. If the cost is lower, the  difference will be subtracted from your new lease or purchase and treated as a down payment. All these figures will appear in your lease or new purchase contract.

Things To Do:
  • Compare the trade-in value to the residual value remaining on the lease
  • Obtain the payoff amount left on the existing lease contract
  • Ask your sales professional to go over your trade in options