Automotive

Toyota lease buyout admin fee

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  • Jan 15th, 2021 7:22 pm
[OP]
Deal Addict
Nov 22, 2009
2574 posts
484 upvotes
Toronto

Toyota lease buyout admin fee

Hello RFDers,

Is anyone here able to tell me if admin fee is negotiable during a lease buyout from Toyota?

I have been quoted for $700 which I seem is quite ridiculous and they told me I have no choice but to pay the fee and do the paper work at that particular dealership.

Is anyone here able to help me? This is specifically for Toyota.


Thanks
34 replies
Member
User avatar
Jan 8, 2015
384 posts
327 upvotes
Mississauga
I was dealing with Subaru which is owned by Toyota Credit so it should be the same.
Speak to the business managers at other dealers and ask if you an do independent safety and the fees. Some will be aholes and not tell you until you move your account over.
Then create an account at https://portal.toyotafinancial.ca/
Email saying you want to transfer your account to said dealership



My Fees:
Dealer-$599
OMVIC- $10
Licence - $37
HST- XXXX


Your HST will be Buyout+Dealer Fee+ OMVIC Fee
Deal Expert
Jan 15, 2006
15969 posts
13851 upvotes
Richmond Hill
sebakaa wrote: I was dealing with Subaru which is owned by Toyota Credit so it should be the same.
Speak to the business managers at other dealers and ask if you an do independent safety and the fees. Some will be aholes and not tell you until you move your account over.
Then create an account at https://portal.toyotafinancial.ca/
Email saying you want to transfer your account to said dealership



My Fees:
Dealer-$599
OMVIC- $10
Licence - $37
HST- XXXX


Your HST will be Buyout+Dealer Fee+ OMVIC Fee
You didn't need to do a safety?
Member
User avatar
Jan 8, 2015
384 posts
327 upvotes
Mississauga
EP32k2 wrote: You didn't need to do a safety?
No I was looking for a dealer that would let me do independent safety since I'm catless.
Deal Expert
Jan 15, 2006
15969 posts
13851 upvotes
Richmond Hill
sebakaa wrote: No I was looking for a dealer that would let me do independent safety since I'm catless.
Didn't know some stealerships would be ok with an outside safety.
Deal Addict
Jul 14, 2013
1220 posts
596 upvotes
A certificate is a certificate. But I've heard some dealerships won't do financing for you if you bring in an outside safety.
Deal Expert
Jan 15, 2006
15969 posts
13851 upvotes
Richmond Hill
n0thing wrote: A certificate is a certificate. But I've heard some dealerships won't do financing for you if you bring in an outside safety.
Yes a cert is a cert, but stealerships being stealerships want your MONEY!!! So from what I've seen/heard majority will only allow safety to be done at the stealership.
Jr. Member
Oct 8, 2019
137 posts
82 upvotes
EP32k2 wrote: Didn't know some stealerships would be ok with an outside safety.
I recently bought out my lease from honda. I opted to pay for a 3rd party safety instead of Honda.
Member
Dec 15, 2005
318 posts
75 upvotes
Some companies will let you send them money directly (and totally bypassing the dealership). They'll then mail you the registration papers and for us in BC, we'll just register it with ICBC.

GMAC and Nissan/Infiniti are ones I've done successfully
Toyota/Subaru and Mazda would not allow me to do this.
Member
User avatar
Jan 8, 2015
384 posts
327 upvotes
Mississauga
EP32k2 wrote: Yes a cert is a cert, but stealerships being stealerships want your MONEY!!! So from what I've seen/heard majority will only allow safety to be done at the stealership.
Yea it comes down to policies made by the owner/manager of the dealership. I had to go thorugh a couple to find one that would be straight up.
Subaru Mississauga would not tell me any info what so ever until I moved my account over to them. Should have been an obvious red flag.

Shoutout to Budds Subaru of Oakville.
Deal Addict
Jan 8, 2007
2767 posts
1294 upvotes
Calgary
blitzforce wrote: Hello RFDers,

Is anyone here able to tell me if admin fee is negotiable during a lease buyout from Toyota?

I have been quoted for $700 which I seem is quite ridiculous and they told me I have no choice but to pay the fee and do the paper work at that particular dealership.

Is anyone here able to help me? This is specifically for Toyota.


Thanks
You can buyout your lease at any Toyota dealer. The lease buyout is $300, it states that in your contract under section 7. (Lease end purchase option). This should be standard across Canada.
Deal Guru
User avatar
Jul 12, 2003
11583 posts
3850 upvotes
Toronto
The admin fee is non negotiable when buying off the lease.
You can try another dealership to see if it's cheap, but it should be more or less the same.

Lexus charge $300, I know some charge $450 or $500, etc....
Yes, it is a pure profit for the dealership and the Finance Manager (or whatever they call) to handle the paperworks.
Retired Forum Moderator February 2009 - June 2015
Deal Addict
User avatar
Jul 5, 2011
1700 posts
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Toronto
It's written into your lease contract @ $299

Look through it - there is no way for them to charge you $599 and get away with it.
2013 Wins - $1320 - Woohoo!
Deal Addict
User avatar
Mar 7, 2007
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MP3_SKY wrote: The admin fee is non negotiable when buying off the lease.
You can try another dealership to see if it's cheap, but it should be more or less the same.

Lexus charge $300, I know some charge $450 or $500, etc....
Yes, it is a pure profit for the dealership and the Finance Manager (or whatever they call) to handle the paperworks.
Pure profit for the dealer... easy money!
[OP]
Deal Addict
Nov 22, 2009
2574 posts
484 upvotes
Toronto
xjesterxx wrote: It's written into your lease contract @ $299

Look through it - there is no way for them to charge you $599 and get away with it.
I am looking at my Toyota lease agreement, and theres no admin fee under "Option to Purchase". It just says "i will be responsible for cost of safety standard certificate, emissions test and all repairs needed to obtain them"
Deal Expert
Feb 24, 2007
15064 posts
2646 upvotes
blitzforce wrote: I am looking at my Toyota lease agreement, and theres no admin fee under "Option to Purchase". It just says "i will be responsible for cost of safety standard certificate, emissions test and all repairs needed to obtain them"
https://www.reddit.com/r/Calgary/commen ... admin_fee/

https://www.omvic.on.ca/portal/Consumer ... ction.aspx

The first link is for an Alberta case but I would guess the commonality rules between AMVIC and OMVIC exist. Call OMVIC and get their opinion.
Deal Guru
User avatar
Jul 12, 2003
11583 posts
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Toronto
xjesterxx wrote: It's written into your lease contract @ $299

Look through it - there is no way for them to charge you $599 and get away with it.
You will learn something new everytime you deal with dealerships.

My Sales Consultant honored to waive the lease transfer admin fee when we decide to buy out after. We made the Financial Service manager to put that in writing on the sales agreement. (we knew how to deal with them)

39 months later, we decide to buy out the car and the new Financial Service Manager refuse to honor to waive the admin fee, she said we never done that, it never happened.
Next day, I pull the sales agreement, scan it and Email to her and CC that Financial Service manager (who is now a sales manager). Suddenly she changed her word and would do it with no charge.

Imagine I didn't ask to put it in writing or if I lost the sales agreement, they will get away with it and charge us few hundred dollars.
Last edited by MP3_SKY on Apr 2nd, 2020 11:39 pm, edited 1 time in total.
Retired Forum Moderator February 2009 - June 2015
[OP]
Deal Addict
Nov 22, 2009
2574 posts
484 upvotes
Toronto
Anyone able to tell me what my course of action should be if Toyota Finance tells me to speak with my dealer?
Deal Addict
Jan 8, 2007
2767 posts
1294 upvotes
Calgary
blitzforce wrote: I am looking at my Toyota lease agreement, and theres no admin fee under "Option to Purchase". It just says "i will be responsible for cost of safety standard certificate, emissions test and all repairs needed to obtain them"
That's strange. I'm looking at mine right now and it shows under Lease end purchase what the residual is and right next to it a purchase option fee of $300 payable to dealer. It is $300 across Canada. You can even go on toyota.ca and see it there spelled out when you build a car and look at the lease summary page.

Example:
Image
Sr. Member
Dec 10, 2006
598 posts
157 upvotes
This is what my Subaru Lease states under 17. Early Purchase Option (Toyota Credit Canada Inc),
"In order to exercise your Early Purchase Option you must pay the dealer the Unamortized Net Leased Vehicle Price, plus all applicable taxes, vehicle licence and registration fees, official charges and all costs relating to the certification of the Vehicle."
My province doesn't have vehicle certification.

So just courier them a cheque for the Unamortized Net Leased Vehicle Price, plus all applicable taxes, vehicle licence and registration fees, official charges (Vehicle Price + G/HST + Required Fees), and include a letter stating you look forward to the receipt of your transfer of title and statement of account.

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