Any experience extending a lease with Toyota Financial?

malloreehmalloreeh Member Posts: 14
edited March 2016 in Toyota
The (24/15) lease on my 2014 Toyota Avalon is ending in August and I wanted to know if anyone had any information or experience with extending a lease with TFS. I've read some conflicting info online that makes me question whether I should even waste my time calling TFS directly. Anything regarding a lease extension on the TFS site requires you to call for information.

I've seen some posts on various sites saying that Toyota will allow you to extend your lease on a month-to-month basis up to 6 months and they were able to do it without issue. I've also seen posters say Toyota will not allow a lease extension if you do not plan to lease or purchase a new Toyota model that is not yet available at the end of your current lease. Does anyone have any experiences with this?

My husband is currently in the market to purchase a new car, knows what he wants and is ready to buy as soon as he finds the right one. He's been driving the same car for 10 years and has been saving for over a year. I'm not about to tell him to wait on his dream car or put less down because my lease is about to end. I know I have a couple of months, but I'd like to have a little more time to replenish our savings or jump into another lease of a vehicle I don't really want because of a limited time frame. I don't hate the Avalon but I certainly don't want to purchase it and I'd hate to not take advantage of the possibility of extending my $260 payment for a few more months.

Comments

  • kyfdxkyfdx Moderator Posts: 187,683
    malloreeh said:

    The (24/15) lease on my 2014 Toyota Avalon is ending in August and I wanted to know if anyone had any information or experience with extending a lease with TFS. I've read some conflicting info online that makes me question whether I should even waste my time calling TFS directly. Anything regarding a lease extension on the TFS site requires you to call for information.

    I've seen some posts on various sites saying that Toyota will allow you to extend your lease on a month-to-month basis up to 6 months and they were able to do it without issue. I've also seen posters say Toyota will not allow a lease extension if you do not plan to lease or purchase a new Toyota model that is not yet available at the end of your current lease. Does anyone have any experiences with this?

    My husband is currently in the market to purchase a new car, knows what he wants and is ready to buy as soon as he finds the right one. He's been driving the same car for 10 years and has been saving for over a year. I'm not about to tell him to wait on his dream car or put less down because my lease is about to end. I know I have a couple of months, but I'd like to have a little more time to replenish our savings or jump into another lease of a vehicle I don't really want because of a limited time frame. I don't hate the Avalon but I certainly don't want to purchase it and I'd hate to not take advantage of the possibility of extending my $260 payment for a few more months.

    I think contacting TFS is the way to go, but you are way too early to do that.. Sometime in June, maybe.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

Sign In or Register to comment.