[Jacblack]

TFS will finance up to 84 months actually, not sure where this mis info or only 48 months is coming from.

The particulars were giving on the first page by the op.

It would be a terrible idea to roll the negative into a BMW, that would be a sure fire way to take an ice cold bath.

[Jacblack]

Originally Posted by MightyMouseTech

And this is also how you end up with a $60,000 Honda Civic.

You don't understand the actual purpose of my suggestion. It does not matter about the total amount of negative equity because it gets divided over the rent charge not the full amount of the car. The entire purpose of the lease is to give more options when the structure is done properly. She wouldn't end up with (ex: $60,000 Honda Civic) because she isn't buying the car. The negative equity only matters when someone is rolling it over into a purchase. There are lower finance charges in the lease than the finance so it will not be a gross over payment of money.

[BEM-S4]

You have to pay the negative equity one way or another. If you roll it into a new lease you also pay interest on it.

[Bluey//M]

Originally Posted by KingOfJericho

You can easily find financing elsewhere to extend the term. He's not at all limited to 4 years.

Car cannot be purchased through a bank once its leased, you either buy it from Toyota/Lexus through their credit facilities or cash ,trade it in at another dealership or turn it in.

If he does buy it from Toyota he can then go to his bank and ask for an auto loan refinance.

[RickFLM4]

Originally Posted by Bluey//M

Car cannot be purchased through a bank once its leased, you either buy it from Toyota/Lexus through their credit facilities or cash ,trade it in at another dealership or turn it in.

If he does buy it from Toyota he can then go to his bank and ask for an auto loan refinance.

There are plenty of banks and finance companies that will finance a lease buyout. You should not need to finance through Lexus/Toyota and then refi.

[KingOfJericho]

Originally Posted by Bluey//M

Car cannot be purchased through a bank once its leased, you either buy it from Toyota/Lexus through their credit facilities or cash ,trade it in at another dealership or turn it in.

If he does buy it from Toyota he can then go to his bank and ask for an auto loan refinance.

Wrong. You can purchase your car using any means at your disposal from the leasing company at any point during your lease term for the current buyout price. Toyota/Lexus does not care where the money comes from. I did this less than two weeks ago for my own car using Chase.

[BEM-S4]

Originally Posted by KingOfJericho

Wrong. You can purchase your car using any means at your disposal from the leasing company at any point during your lease term for the current buyout price. Toyota/Lexus does not care where the money comes from. I did this less than two weeks ago for my own car using Chase.

The only "rule" is that only you or a dealer can buy your car, regardless of how it's financed. You cannot, for example, sell your leased car to a third party and have them buy out the lease directly. Say I want to sell my leased car to my friend Joe. Not transfer the lease, have him buy it out. I need to buy from BMW and Joe needs to buy from me. Joe cannot buy directly from BMW.

[psuibmw]

Let her buy the car, no other choice. She used the car beyond the limit and has to pay the price. That's fair. Once she buys it, let her drive it for the next 100K+ miles, never lease again

[Jacblack]

Originally Posted by Bluey//M

Car cannot be purchased through a bank once its leased, you either buy it from Toyota/Lexus through their credit facilities or cash ,trade it in at another dealership or turn it in.

If he does buy it from Toyota he can then go to his bank and ask for an auto loan refinance.

Where did you get this misinformation?!? I did a lease flip and my customer went thru Bank of America lol.

[bb1857]

There is so much wrong information in this thread it's mind boggling. No wonder dealers are still doing well. Even when people have information they still have no clue most of the time what they are talking about.

[KingOfJericho]

Originally Posted by bb1857

There is so much wrong information in this thread it's mind boggling. No wonder dealers are still doing well. Even when people have information they still have no clue most of the time what they are talking about.

[bb1857]

Originally Posted by KingOfJericho

Never specified what was wrong....yours was one of the correct comments. Just lots of misinformation throughout the thread.

[1MOREMOD]

Try a roll back like ferris bueller

[MightyMouseTech]

Originally Posted by 1MOREMOD

Try a roll back like ferris bueller

If he lived near Montreal, he could find someone to do that for him in about 20 mins.

"Fix speedo, no problem, what do you want the mileage to say!??!"

[KingOfJericho]

Originally Posted by MightyMouseTech

If he lived near Montreal, he could find someone to do that for him in about 20 mins.

"Fix speedo, no problem, what do you want the mileage to say!??!"

I'm assuming he's had the car in for service at some point in the last several thousand miles. That would immediately flag odometer fraud on carfax.

[MightyMouseTech]

Originally Posted by KingOfJericho

I'm assuming he's had the car in for service at some point in the last several thousand miles. That would immediately flag odometer fraud on carfax.

Ya, I am not seriously condoning that action. It is just amazing how rampant it is in Montreal. It is so bad, I would never consider buying a used car there and expect the mileage to be real.

[Alfisti]

This is actually an excellent opportunity. The only solution is to buy it and drive it a solid 5 years or so, maybe 7.

If she so much as flinches at this suggestion, you walk. As in just get up and wal, maybe smile a tad knowing you just saved yourself a world of hurt down the road.