I have an opportunity to buy a 2011. Advise Needed

Paid $17,600 for my 2011 Two with 35,500 miles on it. Toyota Certified Pre-Owned. Yours is a GREAT deal

 

I remember buying a off lease vehicle before and all that was required is the bill of sale to be filled out and the payoff money sent to Toyota. Once the money is received with the bill of sale, the new title will come to you.

I don't know the exact form you would require, but Toyota financial should have all this information.

You should know what package car you are buying before you can appraise the value of the car properly. Not all payoff amounts are a good deal, it really depends on the condition of the car and what equipment the car has. Generally speaking, a purchase at the payoff amount is usually a pretty good deal. The dealers usually get the car back and sell it for more (since car has under 36k miles)

 

OK...people are going to disagree with me.

I can only answer one of your questions, as I have never purchased a lease vehicle from someone private party.

But I did once own what Nissan called a "Aztec Red" pick-up. This was almost a fire engine red.

I got so many speeding tickets ( I was younger...and probably speeding) but I got so many, I vowed I'd never own a red vehicle again.

Some of the more toned down reds, almost wine colored, I think look really nice.

But if it's a bright pure RED...my experience was that it did seem to catch the eye of my local traffic enforcement officer.

Today, you might persuade me to get a red...but never again a Fire Engine or bright red.

 

If you don't like the color now you'll likely grow to hate it. The price seems about typical for a late model. When I was looking the used prices weren't that far off from new so I bought new. I paid $20750 for a 2014 Prius Two plus TTL in Dallas. Saving 4-5k for a three year old car doesn't make sense to me.

 

I recently traded in a 2011 Prius Two in mint condition. On the dealer's website he was asking $17,000 for it. I notice that it is not there anymore. It had 48,000 miles on it so it looks like you have got a good deal according to that.

 

Whatever you do don't hand that person a check for anything. The deal must be done through the dealer that's leasing the car directly. Don't let this person tell you he'll take care of things. Your money may disappear.

 

I've helped both my daughter's turn leases into purchases by just going through our credit union. They contacted the dealer to verify the payoff amount, etc. You definitely do not want to deal only with the individual.

 

Are you looking to take over the lease or buy out the car? The lessee can look online in their account with Toyota Financial & see what the current payoff amount is. You should not give any money to the individual, any payments should go directly to Toyota Financial.