Lease tips

[Old Fart]

My wife's Jeep died and we are looking to lease a new Toyota Rav4. She can claim the lease on her taxes due to her private business. This is our first lease so any tips would be appreciated.

Is the lease insurance worthwhile? It provides for damages up to $4000 when the lease is up.

We are planning on getting snow tires at a reduced price in the deal...what happens when the lease is up, do we have to give the tires back?

[Screw]

Not sure about the tires , first one we just gave back and re leased a new Rav4, second time around we bought it out . Gas & go vehicle
The lease return wasn’t perfect but they didnt ding me I guesse cuz we got another one .

[Black Sheep]

My wife's Jeep died and we are looking to lease a new Toyota Rav4. She can claim the lease on her taxes due to her private business. This is our first lease so any tips would be appreciated.

Is the lease insurance worthwhile? It provides for damages up to $4000 when the lease is up.

We are planning on getting snow tires at a reduced price in the deal...what happens when the lease is up, do we have to give the tires back?

Some items are paid at 100% during the term and therefore would be yours. Things like tonneau covers are treated this way. Check with the dealer.
The lease "wear and tear" really depends on your specific case....number of lease years...cost to buy over term...and if you plan on buying out lease at the end. ( do not buy wear tear if you think you might buy out lease at term end)

IE
If you have a 4 year lease and drive lots of miles (within allotted amount) ....tires ,brake and scratches / dings can add up to the 4000.00 allowance.

[Quicksilver]

I had a 2000 Caravan on lease. At the end of it, the original dealer tried to hit me up for a complete paint job. By then the salesman I had dealt with had moved to another dealer, so we turned the car into him. Didn't cost me a cent.
Then, I stupidly leased a 2004 Nissan Murano. Terrible car, expensive on maintenance, and again, the selling dealer tried to hit me up for about $3000 worth of work, After some negotiation I put 2 used tires on it and they settled for that.
One problem with a lease is getting out of it. If you need to sell it, you have to buy it out first, then sell, or you have to find a person to take over the lease, who has to qualify. Some lease companies keep you liable financially even if the sub leassee is approved.
Another is that you can easily exceed the mileage amount, and then you'll pay big time.
My opinion: don't lease.

[Armen]

Yup, gotta be careful with the return part of the contract. Read it closely. Years ago I did vehicle condition reports on Ford Credit lease returns. I'm sure Toyota is no different in that they have a certain criteria that they go by. Too many scratches (length/depth), too many dents (size/location), tire wear, interior condition... They will ding you for sure if they think you've gone beyond regular wear and tear. Unless of course you're buying another vehicle from them. Then they quite often waive the reconditioning fees.

[ZR]

With financing so cheap on most new rides, to me, makes more sense unless your leasing to purchase at the end.

[Minaccia]

Years ago I did end of lease inspections and what I learned was not to lease an import cuz you're going to pay a high lease payment because of the higher price tag on the vehicle, stick to north American cars for leasing and whatever you do don't buy back the vehicle cuz you're going to over pay huge. Also buy the extra kilometers when making the deal because they will charge you double if you return the car and you went over the allowed kilometer limit.

[Old Fart]

A lot to think about...thanks!!

[Screw]

If ur gonna Buy it out Rav is safe , if ur gonna lease & dump it doesn’t matter cheap wins
I could not find a Rav @ my buy back , if I was gonna pay financing charges wouldn’t of made sense cuz new rates were next to zero .....come to think of it I wish I had that cash still lol I’m not that money smart

[bluetoy]

If you are leasing for business and using it as a tax write off then there may be tax implications if you decide to buy it at the end of the lease. Check with your accountant first.

[Old Fart]

Thanks for all the advice...we dropped the lease idea and put a deposit on the purchase of the Rav4. It's scheduled to be built on Jan 9th and be here a few days after.

[Screw]

Good bang for your buck vehicle...been good to us x 2 now

[Darkhorse]

I have found that lease insurance is always worth it.