OT: Turning in a lease......

bigbet1234 · Nov 28, 2005

I just got off the phone with Toyota, the lease on my truck is up Jan 1. I am 10,000 miles over my limit on my truck, and have a few small cracks in the windshield from rock damage.

I was told because of the status of my loan there will be no additional charge on miles, or additonal fee's for wear and tear. Does this sound right to anyone? I have always paid my payments about a month ahead of time.

Odd, anyone have this experiece?

BB

ClipJoint · Nov 28, 2005

I would be careful...I have never heard anything like that. I have always heard about people getting gashed with fees. I have never leased personally, but know a lot of people that have and I have never heard of them waiving the fee for going over the miles or damage. That sounds shady.

JimmyHoffa · Nov 28, 2005

Bigbet,

I am sure that once you complete the lease and go through the microscopic fees that they will attach to your settlement, you will be convinced that leasing is a bad option.

Dante · Nov 28, 2005

bigbet1234 said:
I just got off the phone with Toyota, the lease on my truck is up Jan 1. I am 10,000 miles over my limit on my truck, and have a few small cracks in the windshield from rock damage.

I was told because of the status of my loan there will be no additional charge on miles, or additonal fee's for wear and tear. Does this sound right to anyone? I have always paid my payments about a month ahead of time.

Odd, anyone have this experiece?

BB

I have leased the cars I had all the time and you never have to pay for normal wear and tear..those sound like normal wear and tear you should not have to pay anything for that when you turn it in...I know I never have..the extra miles you will have to pay for unless you PREPAID it on your lease

Leasing is awesome IMO

Akillies · Nov 28, 2005

i'm in the same boat, toyota with too many miles, dont know what to do. i think it is .15/mile which adds up too a significant amount of $.

quantumleap · Nov 28, 2005

I had leased a Toyota 4runner. I made sure the lease stated that there would be no charge for extra miles. I didn't want to worry for 4 years of every mile I drove.

Make sure to check your lease contract. Each one can be different.

DrunkenHorseplayer · Nov 28, 2005

bigbet1234 said:
I just got off the phone with Toyota, the lease on my truck is up Jan 1. I am 10,000 miles over my limit on my truck, and have a few small cracks in the windshield from rock damage.

I was told because of the status of my loan there will be no additional charge on miles, or additonal fee's for wear and tear. Does this sound right to anyone? I have always paid my payments about a month ahead of time.

Odd, anyone have this experiece?

BB

It would be very helpful to you if you could get them to make that claim while, unbeknownst to them, you're taping the conversation; it sounds like they're getting ready to hit you with serious charges when you turn the car in. If you refuse to pay the tape will be an asset if they consider suing you.

Doug · Nov 28, 2005

It seems there has to be a mileage charge. What if you had a car 3 years and put 125,000 miles on it instead of 36,000 or whatever ? The car's value is a lot less, they aren't going to say... OK,Fine, no problem. If so, then I'm going to lease.

TescoVee · Nov 28, 2005

you might be able to get the extra fees and down waived if you stay with another lease thru the same dealer.

KAPPER · Nov 28, 2005

"I had leased a Toyota 4runner. I made sure the lease stated that there would be no charge for extra miles. I didn't want to worry for 4 years of every mile I drove.

Make sure to check your lease contract. Each one can be different."

I'm not doubting you but these terms seem highly unlikely. My guess is that you had some sort of cap. What would prevent you from bringing the value of the car to a low return value. Its all just simple math.

The reason that they may not be charging you for the miles is if your book value is higher that your buy-out provision in the lease. You may want to see what the bule book value of your car is and compare it to your purchase option in the lease.