Automotive

Swapping a car with one from a different dealership

  • Last Updated:
  • Oct 19th, 2020 3:06 pm
[OP]
Newbie
Feb 11, 2014
7 posts
Richmond Hill

Swapping a car with one from a different dealership

Hi all.

I am in the middle of a lease of Lexus, and was wondering if it was possible to go to a different Lexus dealer, break out of my current lease with a new car?
11 replies
Sr. Member
Jan 24, 2009
527 posts
151 upvotes
Regina
If your Lexus is in pristine condition and under your annual km allowance I’m sure the dealer will try and work with you. Most of the time it’s the remaining 12 months where they will forgo any penalties. How long was your lease?
[OP]
Newbie
Feb 11, 2014
7 posts
Richmond Hill
39 months. About a year is left in the lease.
There are scratches however, so I guess I better deal with the original dealer, since I purchased a protection plan
Sr. Member
Dec 9, 2004
975 posts
37 upvotes
Yes, it is possible. I traded in a Honda vehicle at a Toyota dealership with a few months under my lease left. Perfect condition really and low mileage. 39 months is extremely long left on a lease to be trading it in. Not sure you'll get the outcome you want with that long left.
Deal Guru
User avatar
Oct 6, 2010
14350 posts
8747 upvotes
Toronto
muxcaH wrote: Hi all.

I am in the middle of a lease of Lexus, and was wondering if it was possible to go to a different Lexus dealer, break out of my current lease with a new car?
Yes.
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Member
Nov 13, 2016
470 posts
264 upvotes
muxcaH wrote: 39 months. About a year is left in the lease.
There are scratches however, so I guess I better deal with the original dealer, since I purchased a protection plan
Just to clarify:

Your lease is with Toyota finance/Lexus finance. The individual dealership has no control/interest over it. You can walk into ANY Lexus dealership and negotiate your new lease/buy - just be alert about how they write the Bill of Sale. Different dealerships play around with the numbers and sometimes you don't realize that they roll the early lease return penalty into the new payment without your knowledge.

Good luck.
CD
[OP]
Newbie
Feb 11, 2014
7 posts
Richmond Hill
Thanks a lot. That was a very useful piece of advice.
Newbie
Aug 21, 2019
12 posts
10 upvotes
If you look at the registration for your car, it should say it is in the name of the dealer and Toyota Canada. Any other dealer will have to negotiate the buyout with the primary dealer. You are best off dealing with them to get the best deal at any time prior to the completion of the lease. Some dealers are nice and will just give the actual buyout to another dealer, many will not and will demand a premium to try to cheese your deal.
If you buy your new car from them, the original dealer is likely to cut a deal on the buyout in order to sell a new car. They have no such incentive if you are buying somewhere else.
Deal Addict
User avatar
May 22, 2009
4688 posts
818 upvotes
Caledon
Yes.
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Member
Nov 13, 2016
470 posts
264 upvotes
BandLeader wrote: If you look at the registration for your car, it should say it is in the name of the dealer and Toyota Canada. Any other dealer will have to negotiate the buyout with the primary dealer. You are best off dealing with them to get the best deal at any time prior to the completion of the lease. Some dealers are nice and will just give the actual buyout to another dealer, many will not and will demand a premium to try to cheese your deal.
If you buy your new car from them, the original dealer is likely to cut a deal on the buyout in order to sell a new car. They have no such incentive if you are buying somewhere else.
This is not true. The selling dealer is nowhere on your registration or on your lease agreement. They are present only on the bill of sale.

CD
Sr. Member
Dec 16, 2008
983 posts
406 upvotes
Richmond Hill
"Any other dealer will have to negotiate the buyout with the primary dealer"

I doubt.
Sr. Member
Jan 20, 2012
746 posts
370 upvotes
Toronto
muxcaH wrote: 39 months. About a year is left in the lease.
There are scratches however, so I guess I better deal with the original dealer, since I purchased a protection plan
You can trade in with any dealership as long as they are still making money by selling you the new car. Your protection plan goes with your car not dealership.
For 1 year remaining in lease. Dealership would probably covers some of the cost from new car sales, aka less discount on new car, but you will probably have to pay majority to get out of the lease.

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