Toyota lease-end purchase: payment options
Toyota lease-end purchase: payment options
Adult child and spouse are buying the Toyota that they are currently leasing (end of lease), with cash.
The only option for the payoff, according to the paperwork they received, is to mail in a cashier’s check. Nothing in the paperwork about a wire option, which seems much more secure and quicker.
The check is to be sent with a couple documents that they need to sign.
Has anyone had any experience with this?
The only option for the payoff, according to the paperwork they received, is to mail in a cashier’s check. Nothing in the paperwork about a wire option, which seems much more secure and quicker.
The check is to be sent with a couple documents that they need to sign.
Has anyone had any experience with this?
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
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Re: Toyota lease-end purchase: payment options
No experience with Toyota, but I would never mail a cashiers check. I would send in a personal check in the dealerships name.
Re: Toyota lease-end purchase: payment options
Please clarify your rationale.bogledogle wrote: ↑Tue Jun 08, 2021 5:00 pm No experience with Toyota, but I would never mail a cashiers check. I would send in a personal check in the dealerships name.
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Re: Toyota lease-end purchase: payment options
In most states, a dealer is an unnecessary and more complicating addition to a lease buyout.bogledogle wrote: ↑Tue Jun 08, 2021 5:00 pm No experience with Toyota, but I would never mail a cashiers check. I would send in a personal check in the dealerships name.
The dealer is only going to try and find ways to make money off the transaction.
Re: Toyota lease-end purchase: payment options
They aren’t working with a dealer. The buyout is being processed through Toyota’s financing arm.jbmitt wrote: ↑Tue Jun 08, 2021 9:12 pmIn most states, a dealer is an unnecessary and more complicating addition to a lease buyout.bogledogle wrote: ↑Tue Jun 08, 2021 5:00 pm No experience with Toyota, but I would never mail a cashiers check. I would send in a personal check in the dealerships name.
The dealer is only going to try and find ways to make money off the transaction.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Re: Toyota lease-end purchase: payment options
I don't see the problem with mailing a cashier's check.
Re: Toyota lease-end purchase: payment options
Just send it via fedex (with signature required, obviously), USPS is less reliable right now. Or call to talk to Toyota finance folks, maybe they accept something they didn't mention in paperwork.
Re: Toyota lease-end purchase: payment options
That’s what I am thinking.
A wire would be easier and more secure, if allowable.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Re: Toyota lease-end purchase: payment options
Have you called TFS to ask about the wire option?
Re: Toyota lease-end purchase: payment options
Good. I was replying to the other poster about the dealer being unnecessary. I’d feel a lot better about whatever process TFS outlines, even if you can’t make an electronic payment.delamer wrote: ↑Wed Jun 09, 2021 10:30 amThey aren’t working with a dealer. The buyout is being processed through Toyota’s financing arm.jbmitt wrote: ↑Tue Jun 08, 2021 9:12 pmIn most states, a dealer is an unnecessary and more complicating addition to a lease buyout.bogledogle wrote: ↑Tue Jun 08, 2021 5:00 pm No experience with Toyota, but I would never mail a cashiers check. I would send in a personal check in the dealerships name.
The dealer is only going to try and find ways to make money off the transaction.
Re: Toyota lease-end purchase: payment options
They should either follow the instructions in the paperwork or contact Toyota's financing arm themselves to inquire about other payment options.delamer wrote: ↑Tue Jun 08, 2021 4:55 pm Adult child and spouse are buying the Toyota that they are currently leasing (end of lease), with cash.
The only option for the payoff, according to the paperwork they received, is to mail in a cashier’s check. Nothing in the paperwork about a wire option, which seems much more secure and quicker.
The check is to be sent with a couple documents that they need to sign.
Has anyone had any experience with this?