Bought out lease

I have posted a couple of times lastly about keeping your tundra “forever”! Well I had leased my 2021 cuz like everyone I was curious about the 2022. Well after being not so enthusiastic I bought my lease out 2years early. 1.9% for 60 wasn’t too bad and have about 15000 in equity.

 

Congrats! That's probably the sweetest deal you could have made right now.

 

I will be doing the same thing with my 2020. My question though is why would you buy it out right now? It will cost more in the long run.

 

Inb4 the lease haters and another 10 page thread.

Congrats OP!!

 

Yep doing the same. I intentionally leased my 2020 because i assumed i would be buying the 22 when it came out. But paying off my 20 will cost half as much so I’m keeping it. This is the only car i have ever had that I like more after two years than i did when I bought it.

 

You mean people with trades or down payments, or just financially stable and financially educated people? Anyways congrats to the OP as well, just think how much you would have saved if you bought it to begin with rather than renting it for a year.

Sincerely, a lease hater

 

I also say the same to myself. I started leasing because it made more sense to me, someone who doesn’t keep his vehicles for too long. I would usually trade up every year or two. So I started leasing. Made money in my first lease, a Tacoma and made money on a Acura ILX. My intentions with the tundra was the same. Lease it, then trade in and get the 3rd gen. After the 3rd gen came out and with all these ridiculous prices, I have also decided to keep it. I did the numbers and for me I would have saved around $1k vs financing in the first place. As for financially stable or financially educated, well then I guess everyone buying now has neither. I will say, the OP should have waited till lease end to buy it out.

 

I just signed the paperwork last night to buy out my lease as well. I had full intentions of turning it in at lease end to lease a 2022 and then buying that when the lease was up. Prices are so high right now that I can buy mine out for the same price as leasing a new one.

Now I'll be driving my 2020 for a long time. Not mad about that one!