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6 Week Early Lease Return on 2010 Prius III - Over Miles

Discussion in 'Dealers & Pricing' started by dangsprius, Jul 9, 2013.

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  1. dangsprius

    dangsprius Junior Member

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    2010 Prius
    Model:
    III
    I've decided to purchase a Mini Cooper S Hardtop, needed a little fun in my life. Got a great deal 3 years ago on the Prius, but have decided to part ways.

    I am currently at 37,000 miles, last payment is due on August 1, 2013, need to return it on September 1, 2013. I don't have a problem with making my last payment, but don't want to pay for the extra mileage. Hoping to return it early and have them waive it, isn't it an incentive for them to get this car so they can start the resale of this car right away?

    Dealer says they just take it back and don't do any negotiations or charges of mileage, dings etc. Toyota Financial Services said talk to the dealer. Am i just stuck with this car sitting in my garage until September 1st?
     
    #1 dangsprius, Jul 9, 2013
  2. jhinsc

    jhinsc Senior Member

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    If you just turn the car back in early, you are still liable for the full lease amount so it wouldn't matter if you kept it or turned it in. I have done what you did in the past and just kept the car in the garage for a couple months. You could try to sell it yourself and see if you'll make enough over the lease-end residual value and termination fee. I was successful doing that once with a Nissan Maxima that was way over the mileage limit. Somehow I found a buyer that wanted the exact color I had (blue) and it needed new tires too - go figure.
     
    #2 jhinsc, Jul 9, 2013
  3. dangsprius

    dangsprius Junior Member

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    Yes, i don't mind paying the last payment, i just was hoping Toyota would waive the mile overage since they would be able to sell the car 6 weeks early.
     
    #3 dangsprius, Jul 9, 2013
  4. jhinsc

    jhinsc Senior Member

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    They won't waive it if you turn it in. You will also have a lease termination fee - it should be stated in your lease agreement.
     
    #4 jhinsc, Jul 9, 2013
  5. dangsprius

    dangsprius Junior Member

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    I guess you missed the part where I said I will make all payments in full...I have 1 payment left.
     
    #5 dangsprius, Jul 10, 2013
  6. jhinsc

    jhinsc Senior Member

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    No, I didn't miss it. Maybe I should have said 'lease end fee' rather than 'lease termination fee'. Read your lease agreement to double check - they get you coming and going. On my 2010 Prius IV lease, there was a fee if I kept the car, and a fee if I turned it back in, although was told it's typically waived if I leased again.
     
    #6 jhinsc, Jul 10, 2013
  7. dangsprius

    dangsprius Junior Member

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    Actually i don't have a return fee/disposition fee but i guess you also missed the point of the post....

    I want them to waive the 1000 miles that i am over to get the car 6 weeks in advance.
     
    #7 dangsprius, Jul 10, 2013
  8. jhinsc

    jhinsc Senior Member

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    Great that you don't have a disposition fee. Southeast Toyota Finance imposes one in their leases. Not to belabor the point, but I do understand you will pay all payments and want to turn it in 6 weeks early, but it's unlikely they will waive the $180 fee for being over the 1,000 miles. You should have received notice by now from the lease company to have your car inspected by one of their authorized inspectors. Have you done that yet?
     
    #8 jhinsc, Jul 10, 2013
  9. dangsprius

    dangsprius Junior Member

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    Car inspected on Monday got report today, in perfect condition, no excess wear.

    It just makes so much business sense for them to waive $150 (.15c a mile) to speed up a process by 6 weeks.
     
    #9 dangsprius, Jul 10, 2013
  10. MPGnutcase

    MPGnutcase Active Member

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    this is why I don't lease
     
    #10 MPGnutcase, Jul 10, 2013
    Mike500 and Jamesb93612 like this.
  11. jhinsc

    jhinsc Senior Member

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    Wow, you can get better lease deals in CA - here it's 18 cents per mile overage and we have disposition fees. Good luck, hopefully they will waive it.
     
    #11 jhinsc, Jul 10, 2013
  12. dangsprius

    dangsprius Junior Member

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    If i bought the car, i'd still be getting rid of it this year...By the way the purchase price vs lease and then purchase was about a $700 difference. But then again i would have put an additional $8k into the loan instead it sitting in stocks.
     
    #12 dangsprius, Jul 10, 2013
  13. CLUBGUY

    CLUBGUY Member

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    I would pay the small mileage charge, turn the car in NOW; strange things car happen between now the later/original turn in date.. Cancel your insurance; some savings ??....more room in garage for the MINI..
     
    #13 CLUBGUY, Jul 10, 2013
    MPGnutcase likes this.
  14. stevemcelroy

    stevemcelroy Active Member

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    In the initial post it sounds like you already asked and were turned down. You can now hold onto the car and stew over $150 or drop it off early and be done with it. Yes, turning the car in early is a benefit to Toyota, but they also do not care either way.
     
    #14 stevemcelroy, Jul 10, 2013
  15. innerpri

    innerpri Junior Member

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    Take it to carmax and sell it. I did that a few years ago and i ended up with a 1200 dollar check.
     
    #15 innerpri, Jul 10, 2013
    JMD and Jamesb93612 like this.
  16. JMD

    JMD 2012 Prius 4 Solar Roof

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    The Carmax is worth a try
     
    #16 JMD, Jul 10, 2013
  17. Camfab

    Camfab Member

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    Sounds like a bunch of effort just to save $150. What's the big deal anyway, your over mileage and that's part of your contract.
     
    #17 Camfab, Jul 11, 2013
  18. dangsprius

    dangsprius Junior Member

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    III
    It's not really that much of an effort, i was asking a forum to see if anyone had prior experiences with this. If you can't help then don't.

    My originating one decided to buy it outright, i don't have to make the last payment or the overage on mileage...thanks all.
     
    #18 dangsprius, Jul 11, 2013
    MPGnutcase likes this.
  19. jhinsc

    jhinsc Senior Member

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    Glad to hear it worked out for you! Have fun with the Mini!
     
    #19 jhinsc, Jul 12, 2013
  20. Mr.Electric

    Mr.Electric Member

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    Mini S is an awesome little car unless you keep it into higher miles or age. I have worked on them a few times. It is truly a small BMW. Expect $1200 brake jobs and $2500 clutch jobs. The drive experience is exceptional.
     
    #20 Mr.Electric, Nov 20, 2013
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