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Toyota financial payment6/29/2023 ![]() ![]() If you are trading in a vehicle, the value of your trade-in will help cover most of, if not all, of your down payment. You don't necessarily need to have this cash on hand though. There is no harm in putting down as much as possible though, and we would suggest aiming for putting down around 20% to help lower your monthly payments. It is recommended to put at least 10% down on the purchase of a new or pre-owned vehicle, but as little as $500 can be sufficient in many cases. In fact, we will even buy your car from you regardless if you buy a vehicle from us! We'll Buy Your Car This is one less thing you have to worry about when you trade in your car with us, versus selling it privately. In both cases, we will take care of paying off the lien holder and getting the title for your vehicle. If your car is worth less than what you owe, the remaining loan balance will simply be deducted from the value of your trade-in. There are a few things to still be aware of though. ![]() Trading in a financed vehicle is very common. BuyĬan I trade in my car that's not paid off? If you like driving a new car every two or three years, prefer lower monthly payments, or drive under 10,000 miles per year then leasing might be the best option.ĭo you want to keep your car for longer than three years? You should probably consider purchasing your next vehicle. Depending on your situation, one may be better than the other for you. One finances the use of a vehicle the other finances the purchase of a vehicle. They should absolutely be investigated for their incompetence, breach of contract, and borderline theft.Leases and loans are simply two different methods of automotive financing. They are now holding an enormous amount of money ransom, while simultaneously claiming my account is somehow in default, and otherwise stonewalling me. It is truly baffling how hard Toyota has made it for me to purchase a vehicle. So I sent the payment online and waited.Īfter a couple more weeks (it's now late August 2021, so much for a quick turnaround), I received a letter saying my account had been sent to collections for "defaulting" on two lease payments (~$800), despite the fact that I had now sent them nearly $35k online to buy the rest of the lease and vehicle! Yes, I agree, it defies reason! I have now sent them yet another support request online seeking clarification after waiting 90 minutes on hold to no avail. Wary now, I triple-checked, but they insisted it would be fine. This time, after being on hold forever again, a different rep said I could just use the online portal to pay. ![]() I again did as instructed, but called again to check whether I would really need to send the sales tax by cashier's check. The amount "credited" would be applied towards the purchase, despite being supposedly the "wrong" way to pay. ![]() After asking for clarification, the rep sent me a digital payoff form and told me I would just have to send the difference (sales tax) as a cashier's check, and mail that along with the form. Meanwhile, the $30k I had already sent digitally was mysteriously marked as "credited" back to me, despite never actually being returned to my bank account. Not only was the amount they originally asked for incorrect (didn't include sales tax), but I would need to fill out a form and send payment via cashier's check instead of a digital payment. After a few days, I got a response contradicting what I had been told on the phone. No email, no message, no title in the mail.Īfter weeks, I called again and was told I'd be on hold for 90 minutes, so instead I sent a message through the online portal. I called and spoke to a representative (after being on hold forever, as others have mentioned), who told me the payoff amount verbally and instructed me to just "pay it through the online portal and we'll send you the title." I should've realized that it was bizarre to send >$30k into the ether for a $400 monthly lease payment without any further information, but I did as instructed and waited. ![]()
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