Incredulocious
Well-known member
Just wanted to share my experience and a warning about buying out the lease on our vehicles:
I initially contacted Toyota Financial and was directed through their automated phone system to contact my dealer. There didn't seem to be any way to buyout the lease on-line or over the phone. So I contacted Toyota Sunnyvale, where I originally leased my 2013 RAV4 EV. I was put in touch with Roy Watkins via email and I asked about both buying out my lease and purchasing the Platinum extended warranty. His quotes for the warranty turned out not to be very competitive and so I replied that I just wanted to go through with the lease buyout since I could get a better deal on the warranty with another local dealer. On news of this, he lowered their price substantially but it was still $150 more than Ray Alcazar at Gilroy Toyota with $1545 for 8yr/100K mile.
I ended up completing the warranty deal over the phone with Ray at Toyota Gilroy while waiting for confirmation of an appointment at Sunnyvale for the lease buyout. At this point though, Roy at Toyota Sunnyvale first suggested and then insisted that I just complete the buyout with the other dealer, even though I explained that they were closer (and my original dealer). Clearly he was miffed I didn't buy the extended warranty through him.
When I contacted my closest dealer (Toyota Santa Cruz, who are not authorized to work on the RAV4 EV), I was told that I would have to pay a $500 fee to complete the lease buyout through them. So I ended up driving to Toyota Gilroy and got part way through the paperwork when the same $500 fee popped up again. They tried to argue that it was a fee for a required "safety inspection" and they wouldn't "sell" me the vehicle without it. I argued that no such required inspection or fee was ever stated in the contract, that the inspection appeared to be superfluous and the fee exorbitant. He went off to talk to his manager but came back insisting on the fee in order for me to complete the lease buyout. I then pressed that we talk to someone at Toyota Financial which he agreed to but merely dialed the same customer number that I had tried originally which led once again to the automated response to contact my dealer for the buyout.
However, I then called again and bypassed the automated system to talk to a representative. When I described the situation (and that I already had the extended warranty), the Toyota Financial guy simply starting taking all of my information to initiate the lease buyout over the phone and send me the instructions and forms via mail or email. Requires a certified check but no inspection, no fees. (Of course, I'll have to pay sales tax and whatever DMV fees when I bring in the paperwork to transfer title at the DMV though.)
So, in summary, avoid the dealer, call Toyota Financial but bypass the automated phone menu and do the lease buyout directly with them.
I initially contacted Toyota Financial and was directed through their automated phone system to contact my dealer. There didn't seem to be any way to buyout the lease on-line or over the phone. So I contacted Toyota Sunnyvale, where I originally leased my 2013 RAV4 EV. I was put in touch with Roy Watkins via email and I asked about both buying out my lease and purchasing the Platinum extended warranty. His quotes for the warranty turned out not to be very competitive and so I replied that I just wanted to go through with the lease buyout since I could get a better deal on the warranty with another local dealer. On news of this, he lowered their price substantially but it was still $150 more than Ray Alcazar at Gilroy Toyota with $1545 for 8yr/100K mile.
I ended up completing the warranty deal over the phone with Ray at Toyota Gilroy while waiting for confirmation of an appointment at Sunnyvale for the lease buyout. At this point though, Roy at Toyota Sunnyvale first suggested and then insisted that I just complete the buyout with the other dealer, even though I explained that they were closer (and my original dealer). Clearly he was miffed I didn't buy the extended warranty through him.
When I contacted my closest dealer (Toyota Santa Cruz, who are not authorized to work on the RAV4 EV), I was told that I would have to pay a $500 fee to complete the lease buyout through them. So I ended up driving to Toyota Gilroy and got part way through the paperwork when the same $500 fee popped up again. They tried to argue that it was a fee for a required "safety inspection" and they wouldn't "sell" me the vehicle without it. I argued that no such required inspection or fee was ever stated in the contract, that the inspection appeared to be superfluous and the fee exorbitant. He went off to talk to his manager but came back insisting on the fee in order for me to complete the lease buyout. I then pressed that we talk to someone at Toyota Financial which he agreed to but merely dialed the same customer number that I had tried originally which led once again to the automated response to contact my dealer for the buyout.
However, I then called again and bypassed the automated system to talk to a representative. When I described the situation (and that I already had the extended warranty), the Toyota Financial guy simply starting taking all of my information to initiate the lease buyout over the phone and send me the instructions and forms via mail or email. Requires a certified check but no inspection, no fees. (Of course, I'll have to pay sales tax and whatever DMV fees when I bring in the paperwork to transfer title at the DMV though.)
So, in summary, avoid the dealer, call Toyota Financial but bypass the automated phone menu and do the lease buyout directly with them.
