
11-11-2007, 11:46 AM
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Registered Member
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Re: High Milage Lease?
Quote:
Originally Posted by altoal
First off, I would like to thank you T100 2 Tundra for your response. You brought up a number of good points. I did some number crunching today and also checkout out some options. I also checked out my lease and called TFS as you recommended. At the end of my lease the buyout is $7,100. I will owe more than that in miles, so I have come to the conclusion that this car is mine no matter what (which actually isn't a bad thing because it has been the most reliable car I have ever owned). I am a member of a Credit Union and was able to obtain a loan for my remaining balance on the vehicle of 12,200 (plus tax and title) at 5.9% for 3 years. That is the total amount left to get the car off the Toyota lease at this point...which actually ends up not being that bad. Seems like the longer you wait and more miles you have, the harder it would be to acquire a loan for a car. I crunched the numbers and it looks like I will save about a thousand dollars taking care of it now rather than waiting until the end. Should have bought this vehicle from the beginning. I will NEVER lease another car again. Big waste of money. Thanks again or your ideas.
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You're more than welcome. 
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