The EV Lease LOOPHOLE: Save up to $6,500 on a RAV4 Prime or other EV's

Поділитися
Вставка
  • Опубліковано 29 лис 2024

КОМЕНТАРІ • 122

  • @gkclevinner7461
    @gkclevinner7461 7 місяців тому +2

    This is brilliant! Just found out today a RAV4 Prime is being delivered to dealer for us. Will be buying one within the week. Planning on car loan but intrigued by this. Not sure you mentioned it, but I believe sales tax would have to be paid on both sales (the lease and the buyout) so that would eat into potential savings doing this. But will definitely look into this if we can save some $$$.

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому

      That's a common misconception. But good luck. So happy you've found one. It's a great car. We love it.

    • @gkclevinner7461
      @gkclevinner7461 7 місяців тому +1

      @@GoldenK9Campers Is the misconception about paying two sales taxes? I had read somewhere you have to pay two sales taxes but that doesn't make sense. Sounds like we would just pay one sales tax, when we do the lease buyout. If this all works out, I'll keep you posted! Thanks for spreading the word!

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому

      @@gkclevinner7461 When you do the lease, you don't pay sales tax, as sales tax is rolled into your regular lease payment. When you payoff the lease, typically you pay sales tax when you register your car, in some states Toyota Financial Services collects the sales tax when you do the buyout.

  • @willcoll8789
    @willcoll8789 2 місяці тому +6

    This worked for me, saved the $6,500 on a '24 Prime SE (Oregon). Talked to two different dealers about this strategy, both acted like they'd never heard of it and tried to discourage pursuing it. I realize now they had no incentive to support it, so no point in asking them about it. But I took the leap and it was surprisingly easy with no complications, just called Toyota a few days after leasing and the rest was as described, completed in 30 days. Thank you so much Darrell!

  • @gkclevinner7461
    @gkclevinner7461 7 місяців тому +12

    Got the lease buyout paperwork from Toyota. Cost of car after one lease payment of $725 is $40,350. Estimated amount I saved over buying the car new which I was about to do is $5,700 . That's not chump change. Very much appreciate knowing about this! Thanks for letting peeps know!

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому +2

      Thanks so much for sharing. So glad I could help. Very gratifying. Have fun with the Prime.. it's a great car !!

    • @HDMOVIECREATOR2012
      @HDMOVIECREATOR2012 3 місяці тому

      Can you request for this before leasing the car?

    • @gkclevinner7461
      @gkclevinner7461 3 місяці тому

      @@HDMOVIECREATOR2012 Possibly. I didn't say anything about it to the dealer for fear of them thwarting it. I'm guessing they don't like losing their leasees since they don't make as much money when you do the buyout

    • @HDMOVIECREATOR2012
      @HDMOVIECREATOR2012 3 місяці тому

      @@gkclevinner7461 Did you have to pay taxes twice since you have to do the lease and then buyout? And, is the lease price going to be pretty much the buyout price?
      Thanks!

    • @gkclevinner7461
      @gkclevinner7461 3 місяці тому +1

      @@HDMOVIECREATOR2012 You only pay the sales tax once, when you do the buyout. The lease price was pretty close to the buyout price.

  • @621benchang
    @621benchang 6 місяців тому +7

    what a nice dude sharing all these details with everyone!

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому +1

      It's so gratifying when i'm able to help folks save some money. Especially when they also get such a great car. We luv r prime !! Thanks dude!!

  • @kirkstitt5184
    @kirkstitt5184 4 місяці тому +1

    Thanks for this and your other videos. I just exercised the purchase option for my lease following the guidance you provided. I did this in 6 days after taking delivery of the Rav Prime. It saved me almost $6,000. I live in Arizona, but drove to San Diego, primarily due to availability of the car I wanted.

    • @GoldenK9Campers
      @GoldenK9Campers  4 місяці тому

      That's so awesome. Thanks for sharing your experience. The Prime is such a great automobile. Have fun with it. Sport mode in Auto/EV is best !!

  • @user-og3op5hh8t
    @user-og3op5hh8t Місяць тому +1

    Thank you very much for the info and the video. After waiting for 2 years, a blue-print colored rav4 prime arrived. My closest dealer gets only 2 rav4s a year. I was debating whether purchasing or leasing the vehicle. The residual price in Michigan is $30,389. The dealer added all possible options, including the running boards and protection films, so the total cost of the car (w/o tax) is $54,266. I never thought of the early lease buyout. I will ask the dealer if it is possible option for me and who (the dealer or TFS) will be in charge of it. Thanks, again.

    • @GoldenK9Campers
      @GoldenK9Campers  Місяць тому

      Your dealer won't want you to do this and might even lie (see other comments about this on the video). Good luck though. The blueprint is an awesome color for sure!!

  • @gkclevinner7461
    @gkclevinner7461 7 місяців тому +4

    Leased a white r4p se today. No moonroof and just a few add-ons attached which is a rare thing around here. Probably one of the last of this type I'm guessing. 6038 cap reduction for 40694 total cost. Lease was almost identical to the op of the reddit thread linked to here. Will report back once everything is finalized. Much appreciation for the this yt post which was how I found out about this great way to save some dough on a car I was about to buy!

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому

      You wont find many without the moonroof. Definitely lots of additional headroom.. score!! Yes, would love to hear how the lease payoff goes. Thanks so much for posting.

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому

      B

  • @Stream-t8g
    @Stream-t8g 2 місяці тому +2

    Thank you for the instructional video. Is there a reason why the process needs to complete with in certain number of days? Would it be okay to inform the dealer that you intent to buy out?

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому +2

      It's beneficial to complete as soon as possible to avoid additional rent payments for the car. If you let the dealer know you intend to do this, they will try to talk you out of it, or at least delay buying out for 90 days so they get credit for the lease.

    • @Stream-t8g
      @Stream-t8g 2 місяці тому +1

      @@GoldenK9Campers Thank you 🙏🏼 We wonder if all paper is signed for the lease and the vehicle hasn’t arrived home, can we still process the lease to buy-out process. Seems like objective is asap before 90 days. We also hope the lease cash offer will extend beyond 09.30.2024.

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому +1

      @@Stream-t8g I don't see why not. You need to wait until your information is in the TFS website, but when that is complete you should be abel to start the process.

    • @Stream-t8g
      @Stream-t8g Місяць тому +1

      Interesting observation. Rav4 Prime XSE are either sold out or cheapest available is priced at $53,000 at states with the lease cash program. States without lease cash program have on stock for about $48,000.

    • @GoldenK9Campers
      @GoldenK9Campers  Місяць тому

      @@Stream-t8g Looks like Toyota Dealers might have caught on. That sucks.

  • @Selahree
    @Selahree 4 місяці тому +2

    We are in the process of buying ours out right now.

    • @GoldenK9Campers
      @GoldenK9Campers  4 місяці тому +1

      Good luck!! Definite way to go!! You’ll love the car!!😊

    • @Selahree
      @Selahree 4 місяці тому +1

      ​@GoldenK9Campers thanks. We do so far.. got it with premium package at 2500 under msrp. Sent buyout check today. Thanks for video!

    • @GoldenK9Campers
      @GoldenK9Campers  4 місяці тому

      @@Selahree Awesome !! Sounds like you made a great deal. Congrats. You'll love it!!

  • @garydulaney
    @garydulaney 3 місяці тому +1

    Should I visit my DMV before exercising the purchase option, after, or both?? Thanks!

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому +1

      You should get temporary tags to drive it off the lot. Think they are usually for 30 days. To register your car you will need the title, and a couple of other documents I discuss in the video. If you don't get it done in time you might need to visit your DMV to get a movement permit, or talk to the dealer you leased it from to get an extension on the tag.

  • @kurtburkhardt5862
    @kurtburkhardt5862 2 місяці тому +1

    Cool to know. Will have to check if the lease deal is available in Illinois.

  • @tptwk
    @tptwk 7 місяців тому +3

    Interesting concept. Did your dealer (contract writer) know you were planning on buying out the leas in a month or do you recommend not mentioning it? Great info, thanks!!

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому +3

      Really no need to mention it, as they'll just try and talk you out of it. They don't get a commission on the lease unless you make payments for at least 3 months.

  • @HDMOVIECREATOR2012
    @HDMOVIECREATOR2012 3 місяці тому +2

    Should I put a down payment on the lease or just put my big down payment during the buyout? Please help, thank you!

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому +1

      I would not do a down payment. Just do the lease buyout.

  • @icydeadppl25
    @icydeadppl25 8 місяців тому +2

    I'm dealing with the A1 Toyota where you bought yours. Got one on hold but they are playing dumb when it comes to the lease. If they are right and I owe all 36 payments, it's more expensive than cash. At what point in the leasing deal to I get proof that a buyout can be executed at any point for the residual + depreciation + tax?

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому +1

      Yeah, not until you execute the lease and call TFS to get the buyout number. I'd recommend you perhaps message some folks on the reddit group I provided to get some reassurance. I haven't done it myself, was only providing information from the group. It is a little scary but a number of folks have sucessfully done this. I wish dealers were more transparent, but they really don't want you to do this until after 3 months, or they lose their commission from the lease.

    • @icydeadppl25
      @icydeadppl25 8 місяців тому +3

      @@GoldenK9Campers That sounds about right. I saw on another leasing loophole video that the dealer gave the buyer and additional $800 off to keep the lease for 3 months to avoid the chargeback. I borrowed your breakdown of Residual + Depreciation + tax to see if the dealer will comment on that but I feel they are discouraging the lease option. Maybe I should have thrown them a bone and offered to keep it a minimum number of months for a discount.

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому +1

      That sure would be interesting to hear their response.@@icydeadppl25

    • @icydeadppl25
      @icydeadppl25 8 місяців тому +1

      Sales guy still insists all payments due. Due to hammer things out with the sales manager tomorrow. Fingers crossed he shows me a leasing contract with no penalties.

    • @icydeadppl25
      @icydeadppl25 8 місяців тому +6

      @@GoldenK9Campers So I decided despite their objections to just do the straightforward lease. They were too busy to get it solved Thursday but I flew out anyway on Friday and Frank my sales person had everything setup. When I finally got in the sales office they waived the first payment and returned my $500 deposit. Same price and terms I was quoted/expecting. Spent the weekend enjoying the drive home and now I'm looking into the buyout. Will update to let you know how that goes.

  • @HDMOVIECREATOR2012
    @HDMOVIECREATOR2012 3 місяці тому +2

    Hi again, it's now 6 days from when I bought my Rav4 Prime (Thank you). I called TFS and they provided me with a buyout amount, but without the sales tax, registration, etc fees. They told me to go to my DMV, I live in California. Is this normal? I looked into the Reddit you provided and the guy said he made a mistake of not including the sales tax in the cashier check to TFS. Please help, thank you!

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому +1

      All states are different. I’d just pay the sales tax at the dmv.. good luck!!

  • @summitapproach
    @summitapproach 7 місяців тому +1

    Thank you for the detailed breakdown! Is there any advantage or disadvantage to trading-in your current vehicle when you sign the initial lease agreement?

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому +1

      No real advantage or disadvantage. It will reduce your capitalized costs similar to a down payment. It just depends on what sort of deal you get when trading in your car. Most folks advocate selling yourself, but that can be a hassle. I'd shop your car around.. see what sort of deal you can get on the prime with whoever you are planning to purchase from, and then have them give you what they would give you on a trade-in. Then check with carvana, KBB, others to see what they will offer you. When I sold my 2017 Honda Accord, I went to multiple dealers, and ended up getting about 2,500 dollars more than the initial offer by just spending a couple of days shopping it around.

    • @summitapproach
      @summitapproach 7 місяців тому +1

      @@GoldenK9Campers Got it, thanks for the quick response!

    • @GoldenK9Campers
      @GoldenK9Campers  7 місяців тому +1

      @@summitapproach You bet. Good Luck. The Prime is absolutely awesome !!

  • @bdhwkfo15732
    @bdhwkfo15732 3 місяці тому +1

    Does anyone know if you add a trade in as part of this method if it’s possible to trade in your current car on the lease buyout step as opposed to the initial lease? I believe the tax savings would be greater but I haven’t been able to figure out if this is possible.

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому

      the lease buyout step is basically sending cash to Toyota Financial Services. So of course you can sell your car, or sell it to the dealer after you've done the deal. But that's about it as far as I can tell.

  • @bigbert2508
    @bigbert2508 8 місяців тому +1

    In the northeast, they are everywhere….i even got one discounted at $4k off msrp

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому

      Yep.. as I mentioned.. I heard they were even discounting XSE's with the Premium Package. With the discount and the lease incentive.. that's a nice bargain.

  • @dewski2160
    @dewski2160 8 місяців тому +1

    what state did you buy yours from? I'm in Utah and had contacted some CO dealers who said they were ONLY selling new Rav4P to CO residents and would not sell to out of state :/

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому

      That sucks.. I'd call some larger dealers in Colorado. I know Mountain States Toyota was selling out of state. They may have a waiting list though. Your best bet is California though probably. I bought mine from connecticut.. from Las Vegas.. this was when they were really hard to find.

  • @kikiwong4501
    @kikiwong4501 2 місяці тому +1

    Does the down payment from the lease counts towards the buyout?

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому

      The larger the down payment, the larger the capatlized cost reduction which will in turn reduce the buyout amount.

  • @HDMOVIECREATOR2012
    @HDMOVIECREATOR2012 3 місяці тому +1

    I live in California, does this only apply to my California dealers?

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому

      Nope. California does have good availability of Prime's though. Check in markets outside of main population centers.

    • @mafreymfc30
      @mafreymfc30 2 місяці тому +1

      @@GoldenK9Campers They still lack of Prime. I checked 10 dealerships, they dont have the one I want

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому

      @@mafreymfc30 Don't be afraid to travel to get the one you want. Be patient.

    • @mafreymfc30
      @mafreymfc30 2 місяці тому +1

      @@GoldenK9Campers I checked with the dealership. I live in Bay Aea. They said they have lease and buy out too. ( save $6500) but they recommend to do 3 months and buy out. I have a question, since they will be $6,500 off. How much should I still negotiate the price with them ?

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому

      @@mafreymfc30 They're wanting you to wait 3 months so they get the commission. If you do it earlier, they don't get it. I mean, it doesn't affect you all that much, but you'll still lose out on your rent payment for that time you won't recover. You could use that as a negotiating tactic. Although, after you purchase thru a lease.. you can just do what you want with the buyout as the dealer is out of the picture. Good luck with your decision.

  • @mclaine33
    @mclaine33 6 місяців тому +1

    Shoot I live in Florida. I guess it doesn’t make a lot of sense if I have to go to the dealer. They’ll screw me over on the financing.

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому

      If you buy out the financing doesn't really matter.. but yeah, you won't save as much beacause of where you live.

  • @anandajothimuttayane6042
    @anandajothimuttayane6042 3 місяці тому +1

    I am planning to get one,Will you not pay the remaining lease amount + residual value when you buy out early? Can you please clarify

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому +1

      You pay the residual value + depreciation and taxes. Here's the point in the video where I talk about the buyout - ua-cam.com/video/ygPJMF6e97c/v-deo.htmlsi=YAnd-iQ-bKso19Iz&t=1145

    • @anandajothimuttayane6042
      @anandajothimuttayane6042 3 місяці тому

      @@GoldenK9Campers Thank you so much.Appreciate your reply!!!!

    • @Tharun4u1
      @Tharun4u1 3 місяці тому

      @@anandajothimuttayane6042 should we do buyout only with cash or can we finance with some bank for buyout ?

  • @klatskinbrian1303
    @klatskinbrian1303 6 місяців тому +1

    Hey sir, I’m thinking of doing this with the Prius prime 4500 lease cash offer. The problem is I live in Florida. If I go out of state to buy it. Would I have to go into Florida dealer since I’m a resident of Florida in order to purchase outright? Or could I work with TFS?

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому

      My understanding, is if you buy from Florida and use South East Toyota Financial Services, then you are required to visit the dealer to do the buyout. If you buy from another state that doesn't use South East TFS, then you shouldn't have to visit the dealer. I would determine where you're going to purchase and then give TFS a call just to make sure.

  • @HDMOVIECREATOR2012
    @HDMOVIECREATOR2012 3 місяці тому +1

    Does this lease and then buyout your own car put 2 owners history in Carfax?

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому

      I don't believe so. It's like you're just paying off a loan.

    • @HDMOVIECREATOR2012
      @HDMOVIECREATOR2012 3 місяці тому

      @@GoldenK9Campers Thank you, you are a life and money saver!

    • @HDMOVIECREATOR2012
      @HDMOVIECREATOR2012 3 місяці тому +1

      @@GoldenK9Campers do they subtract the lease cash discount before tax or after tax/sales/total? Thank you so much!

    • @GoldenK9Campers
      @GoldenK9Campers  3 місяці тому

      @@HDMOVIECREATOR2012 The cash discount comes off the capital cost, so before taxes.

  • @huupham1025
    @huupham1025 6 місяців тому +1

    Now the Colorado dealer requires you to lease for at least 6 months before the buyout. Is this still a deal?

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому +2

      How can they enforce that. After you lease, you deal directly with TFS, not the dealer. Do you have to sign anything saying you won't buyout for 6 months? I'd go to a different dealer.

  • @papagen00
    @papagen00 8 місяців тому +2

    Hey have you also got a LOOPHOLE for buying apartment buildings with no money down? 😂😂😂

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому

      Sorry.. Don't have a channel for that.. yet..

  • @bryanmort1
    @bryanmort1 2 місяці тому +1

    I bought RAV4 Prime in Calif. and made 3 payments within 30 days after setting up account online with Toyota Financial Services.
    Leased, received $ 6,500 off capitalized cost as mentioned in video!
    When you buy out remaining amount so you own car, took 45 days from Toyota Financial to get pink slip.
    You pay tax on sale when you go to DMV with pink slip you get from Toyota.
    Then you have succeeded.
    You own Car!!
    Purchase was made in California.
    Contact your insurance company immediately to advise them the car is now owned by you, no longer leased by/from Toyota!
    You can add additional insurance coverage to have car replaced should accident cause car to be totaled!

    • @GoldenK9Campers
      @GoldenK9Campers  2 місяці тому

      Thanks for sharing your experience !!

    • @mafreymfc30
      @mafreymfc30 2 місяці тому

      Thank you for sharing. Could I ask if you negotiate the price as well since you get $6,500 off from lease and buy out ? And could I ask how much the final price ? I am looking for RAV4 Prime XSE with premium package. I live in Bay Area. They dont really have Pearl white color I want

    • @GeminiOp
      @GeminiOp 2 місяці тому

      Did you get GAP when you drove away from the dealer the day you signed the lease?

  • @willwill4146
    @willwill4146 4 місяці тому +1

    Um

  • @cybat1078
    @cybat1078 8 місяців тому +1

    These are not available, give me a break. Huge wait times.

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому

      They are available. You just have to look at different states. I could find one in 10 minutes.

    • @icydeadppl25
      @icydeadppl25 8 місяців тому

      Not true. I came across this channel because he had accurate buying advice after the google tracker died in 2022. I found 10 in stock in New Haven Connecticut where he bought his. It's on hold and we are negotiating right now.

    • @adeleferguson663
      @adeleferguson663 6 місяців тому +1

      Not true. They are VERY available in my state (MA) and I just leased one. There were 5 (XSE)’s available and a few SE’s. I live in a state that offers the lease incentive so I was able to lease a brand new (2024) Prime XSE and my lease payment as compared to the ‘21 R4P Hybrid Limited I traded back is a few dollars different. Excellent deal and pain free.

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому +3

      @@adeleferguson663 Thanks for backing me up. Silly Trolls. Congrats on the new ride.. you're gonna love it !

    • @billjanis6328
      @billjanis6328 6 місяців тому

      They can be. Depends where you are. Got mine in 1 month I Seattle. Lucked out really.

  • @dialecticalmonist3405
    @dialecticalmonist3405 6 місяців тому +1

    "Wheel and deal"?
    What does this mean? What do I tell the guy? "I want to wheel and deal"? And then they just hand me a discount?

    • @GoldenK9Campers
      @GoldenK9Campers  6 місяців тому

      Gotta shop aroiund dude. If someone is not willing to play ball, just go to another dealer. It's a super tough time in the auto industry now. Toyota is still doing well, but there area deals to be had. Just be patient and look around.

  • @alex98b627
    @alex98b627 8 місяців тому +1

    Sorry you lost me at calling a RAV4 beautiful. They certainly are not

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому +1

      I like mine. Beauty is subjective for sure. You should watch my GTR videos maybe.

    • @onurguven35
      @onurguven35 8 місяців тому +2

      They certainly are more than just beautiful

    • @GoldenK9Campers
      @GoldenK9Campers  8 місяців тому +1

      @@onurguven35 Couldn't agree more.

    • @djaztec97
      @djaztec97 8 місяців тому +2

      If Rav4 were not beautiful, they wouldn't be the best selling car in America for consecutive years!

    • @alex98b627
      @alex98b627 8 місяців тому

      @@djaztec97the F series is the best selling car in the US.
      Safe to say that buyers like the longevity, reliability, dependability, and strong resale values.
      Toyota also sold lots of Prius’s and they were (and still are) hideous.
      I’m not saying the RAV4 isn’t a good car (it clearly is!) I’m just saying imo that is far from “beautiful”. Toyota just isn’t known for designing beautiful cars - even across the whole Japanese market they are more known for ‘purposeful’ and quirky car designs than beautiful.
      Mazda are doing the best with their designs at the moment, out of the Japanese brands.