The EV Lease LOOPHOLE: Save up to $6,500 on a RAV4 Prime or other EV's

In this video I discuss how to save up to $7,500 using the EV Lease Loophole.

Favorite Equipment for RAV4 Prime:

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[willcoll]

This worked for me, saved the $6, 500 on a '24 Prime SE (Oregon). Talked to two different dealers about this strategy, both acted like they'd never heard of it and tried to discourage pursuing it. I realize now they had no incentive to support it, so no point in asking them about it. But I took the leap and it was surprisingly easy with no complications, just called Toyota a few days after leasing and the rest was as described, completed in 30 days. Thank you so much Darrell!

[gkclevinner]

Got the lease buyout paperwork from Toyota. Cost of car after one lease payment of $725 is $40, 350. Estimated amount I saved over buying the car new which I was about to do is $5, 700 . That's not chump change. Very much appreciate knowing about this! Thanks for letting peeps know!

[benchang]

what a nice dude sharing all these details with everyone!

[gkclevinner]

Leased a white r4p se today. No moonroof and just a few add-ons attached which is a rare thing around here. Probably one of the last of this type I'm guessing. 6038 cap reduction for 40694 total cost. Lease was almost identical to the op of the reddit thread linked to here. Will report back once everything is finalized. Much appreciation for the this yt post which was how I found out about this great way to save some dough on a car I was about to buy!

[kirkstitt]

Thanks for this and your other videos. I just exercised the purchase option for my lease following the guidance you provided. I did this in 6 days after taking delivery of the Rav Prime. It saved me almost $6, 000. I live in Arizona, but drove to San Diego, primarily due to availability of the car I wanted.

[kurtburkhardt]

Cool to know. Will have to check if the lease deal is available in Illinois.

[gkclevinner]

This is brilliant! Just found out today a RAV4 Prime is being delivered to dealer for us. Will be buying one within the week. Planning on car loan but intrigued by this. Not sure you mentioned it, but I believe sales tax would have to be paid on both sales (the lease and the buyout) so that would eat into potential savings doing this. But will definitely look into this if we can save some $$$.

[bryanmort]

I bought RAV4 Prime in Calif. and made 3 payments within 30 days after setting up account online with Toyota Financial Services.

Leased, received $ 6, 500 off capitalized cost as mentioned in video!

When you buy out remaining amount so you own car, took 45 days from Toyota Financial to get pink slip.

You pay tax on sale when you go to DMV with pink slip you get from Toyota.

Then you have succeeded.

You own Car!!

Purchase was made in California.

Contact your insurance company immediately to advise them the car is now owned by you, no longer leased by/from Toyota!

You can add additional insurance coverage to have car replaced should accident cause car to be totaled!

[tptwk]

Interesting concept. Did your dealer (contract writer) know you were planning on buying out the leas in a month or do you recommend not mentioning it? Great info, thanks!!

[bdhwkfo]

Does anyone know if you add a trade in as part of this method if it’s possible to trade in your current car on the lease buyout step as opposed to the initial lease? I believe the tax savings would be greater but I haven’t been able to figure out if this is possible.

[HDMOVIECREATOR]

Hi again, it's now 6 days from when I bought my Rav4 Prime (Thank you). I called TFS and they provided me with a buyout amount, but without the sales tax, registration, etc fees. They told me to go to my DMV, I live in California. Is this normal? I looked into the Reddit you provided and the guy said he made a mistake of not including the sales tax in the cashier check to TFS. Please help, thank you!

[garydulaney]

Should I visit my DMV before exercising the purchase option, after, or both?? Thanks!

[Selahree]

We are in the process of buying ours out right now.

[HDMOVIECREATOR]

Should I put a down payment on the lease or just put my big down payment during the buyout? Please help, thank you!

[kikiwong]

Does the down payment from the lease counts towards the buyout?

[klatskinbrian]

Hey sir, I’m thinking of doing this with the Prius prime 4500 lease cash offer. The problem is I live in Florida. If I go out of state to buy it. Would I have to go into Florida dealer since I’m a resident of Florida in order to purchase outright? Or could I work with TFS?

[dewski]

what state did you buy yours from? I'm in Utah and had contacted some CO dealers who said they were ONLY selling new Rav4P to CO residents and would not sell to out of state :/

[anandajothimuttayane]

I am planning to get one, Will you not pay the remaining lease amount + residual value when you buy out early? Can you please clarify

[huupham]

Now the Colorado dealer requires you to lease for at least 6 months before the buyout. Is this still a deal?

[summitapproach]

Thank you for the detailed breakdown! Is there any advantage or disadvantage to trading-in your current vehicle when you sign the initial lease agreement?