Early Leases Ending Soon...

[Liquidsnake]

The dealer ended my lease early so they could out me in a 1.0

I was a first day release owner

[dentalprodigy]

How early? Like a month or two early? Last time I brought the frs in for service, a salesman mentioned that if I go for another scion/Toyota they could get me out of my lease early but didn't elaborate exactly how early

[Braces]

I believe it depends on the value of your car if you turn it in early. If the market dictates that your car is worth more than the residual ... You come out ahead and can use that to turn the car in early.

[Veloist]

Originally Posted by dentalprodigy

How early? Like a month or two early? Last time I brought the frs in for service, a salesman mentioned that if I go for another scion/Toyota they could get me out of my lease early but didn't elaborate exactly how early

That's just their way of getting you as a return customer. It's the crunching numbers game. If they notice that you are well under the allowed mileage, you have a lot of lease equity. Basically that equity will cover the early termination fee, if there is one applicable. The rest would be used for a down payment, and if you have a lot of equity (low miles) on the lease turn-in you can end up with some low monthly payments.

The most important factor is how much mileage you have under what was agreed upon. This was the case when I ended a Scion xD lease after 1 year and only put 6000 miles out of the 12,000.

[Fortis]

I could've put around $12K down and financed my car but I decided to lease as well. My residual will be around the $17K mark once my term is up in 2 years. I'm averaging only 6,000 miles annually so my car will have less than 20K miles once the term is up. Still deciding what to do...might be in the mood for a sedan hehe.

[Braces]

On the flip side .... if you don't use the allotted mileage (say 10K,12K per year) and you turn it in .... you probably paid too much up front for the lease. The leases are based on mileage. A 10K lease is less than a 12K lease. Although if you are under-mileaged and want to continue leasing/financing a toyota/subie car .... then you have some room for bargaining.

[adamg]

i cant believe anyone that has any interest of modding their brz/frs down the road would ever lease one of these cars in the first place...

[LucidMomentum]

Originally Posted by adamg

i cant believe anyone that has any interest of modding their brz/frs down the road would ever lease one of these cars in the first place...

Your best bet is to get a used one at that point. Admittedly, I probably should've done that myself, but I wanted something new :p

[Pbrown]

Originally Posted by adamg

i cant believe anyone that has any interest of modding their brz/frs down the road would ever lease one of these cars in the first place...

Leased mine. Mine was one of the earliest to arrive in Canada just after the first 86 in the states were sold. Ordered it way before test driving it. Decided to lease as it was a guarantee that I could simply hand the car back after 4 years no questions asked if it was a lemon. My intent was to keep it for as long as humanly possible and as you can see from my mods to date, I am very happy with the car and will be buying it out on its fourth birthday. The final phase of my OFT 300 build (supercharger) will be the gift on that day. June 6, 2016.

[adamg]

Originally Posted by LucidMomentum

Your best bet is to get a used one at that point. Admittedly, I probably should've done that myself, but I wanted something new :p

I bought new and started modding the next day. But just like you, i wanted something new. I just dont understand leasing with cars like this

[JRTritsch]

My FRS residual was $19.9k. I tried throwing it on the market for a few months at only 13k miles and $21k...not even a nibble. Its an ok deal if you want to buy it out, but since I wanted to get out I'm really glad I leased it.

[Mr.Impreza]

Originally Posted by adamg

i cant believe anyone that has any interest of modding their brz/frs down the road would ever lease one of these cars in the first place...

Well, I have interest in modding and leased mine. Sure, in the long run i lose money, but it's just easier to make smaller payments compared too if i bought it.

[daiheadjai]

Originally Posted by adamg

i cant believe anyone that has any interest of modding their brz/frs down the road would ever lease one of these cars in the first place...

It does limit our options - all of my mods are the kind I can reverse on my own in the span of a weekend...

That said, the limited mileage sucks. Especially if a lot of that mileage will be spent sitting in traffic - this car is wasted on gridlocked city streets.

Also, my residual is about 18k CAD for a car with 60,000km on it (I'm expecting to be overmileage anyways though)

[billwot]

Originally Posted by daiheadjai

It does limit our options - all of my mods are the kind I can reverse on my own in the span of a weekend...

That said, the limited mileage sucks. Especially if a lot of that mileage will be spent sitting in traffic - this car is wasted on gridlocked city streets.

Also, my residual is about 18k CAD for a car with 60,000km on it (I'm expecting to be overmileage anyways though)

Uhh...you aren't using up your mileage "...sitting in trafic...gridlocked".