Help with Certified Pre Owned. Personal lease or personal owner better?

I’m looking for a Certified Pre-Owned from a Toyota dealer for a 2021 Tundra SR5 TRDOR or Limited TRDOR. I’m pretty particular about my truck so I’ve always purchased new but if I want a 2020-2021 I’ll have to go the used route. With a used vehicle there’s always a chance (probably very high with a Tundra) that it’s been modified in some way. Do you think personal lease is safer in the sense that it has to be returned hence less likely modified, if any? One can also argue that a personal lease is less taken care of because it will be returned. Thinking a personal owner may take better care but tend to modify. Neither is proven nor consistent. Do you think I should focus on one type versus the other? What is your experience?

 

I bought a CPO 2019 Tundra in 2021 when the 22’s were coming out. Got an additional 12,000mi and 12mo. Of warranty. That being said, the vehicle was not completely stock. It had a topper and a bedrug installed. The used market is like a box of chocolates, you never know what you’re gonna get. If you know what you want, it could come at you from anywhere. Purchasing from an individual leaves you very little recourse if an issue pops up. Buying CPO ensures that someone will help you with any problems that arise shortly after the purchase. I would not be afraid to do either, but I would do a thorough inspection myself, and I am also capable of fixing any issues that pop up myself.

 

I wouldn't rule out finding one private party and forgoing the CPO designation. I checked out several CPO trucks last winter, as I looked for my truck. Ended up finding a truck private party that checked all my boxes for $5-10k less than the going dealer rates at the time (for comparable trucks). Truck had immaculate service records and a friend of mine and I showed up with a crawler, stethoscope, inspection mirror, and checked out everything high and low (couldn't find one issue anywhere).

 

I think most people leasing would 'ride it hard and put it away wet". But someone with payment may do the same. I guess you have to do some invesgating.

 

Most of the vehicles my wife has bought over the years have been dealer demo/loaners.
She has never bought a new car in the 18 years we've been together.
Granted they all had under 5K miles and most were Volvos and Cadillacs, but she had little if any issues with them.

Not everyone who leases a vehicle abuses it.
I'd guess that many 2020-2021 CPO Tundras are traded in by people wanting a new Gen 3..

If God forbid something happens to my 2014 in the next couple of years, I'll be looking for a used 2019-2021 Tundra to replace it.

Good luck.

 

Hello! Interestingly I have a 2021 Tundra SR5 (4x2; not a 4x4), it's exterior is white & charcoal cloth interior, double cab, 6.5' bed, 38gal fuel tank, and the lease ends late 2024. I will likely buy it end the lease-end; however, I'm unsure if I will keep it or sell it.

Understanding you may not be interested in a 4x2 I did want to mention it b/c it's in perfect condition, low miles, never towed anything, etc.

 

I would focus on finding an old man's fishing rig. You know, the recent widow having a moving sale with no need for the well kept and garaged low mileage stock pickup that might even have a pristine high dollar cap on it. Just got to get the word out, watch, and act quickly.

 

Many private party sellers have kept all service records; I wouldn’t hesitate buying private sale if there was a situation where you could inspect, test drive and have records given of all maintenance

 

Thanks for the offer but I’m looking for a 4x4. I vote you keep it! It’s the last of year of the v8 and will surely have a good return some day.

 

I agree that’s the ideal owner!

 

Don't forget the CPO from a dealer typically comes with a 7yr/100k powertrain warranty (from date of service, not your purchase date). This can be upgraded to a full bumper to bumper warranty, to include alternative transportation, etc. IMO, the warranty option negates all of your concerns of previous lease vs purchase, and opens your inventory up so you more easily find the latest/lowest mileage '21 within your area to make the most of that warranty. Just like buying new, the CPO warranty is honored at all Toyota dealerships, so shop far and wide.

Do your research on today's warranties since they may be different now. That's my .02.

Good luck!

 

I wouldn't hesitate with a lease trade in. You just have to do your due diligence just like with anything else. A buddy of mine had a 2020 Ram 1500 that he leased. During that lease he added firestone airbags and Flowmaster exhaust with resonator delete. He towed a 6500lbs camper every other weekend in the summer but he took very good care of it and it had low mileage. Simply ruling out a lease because someone "might have ran it hard" is not a good way to look at it. Find the right truck that fits all of your needs and is in the condition you want and then if you still want the added insurance, buy the extended warranty.

Just remember you're buying a Tundra and not a GM

 

I have the opposite assumption regarding a lease: the lessee knew they were going to be hard on it and didn’t want to chance dealing with issues that show up later on.

I always assume that any used truck—leased, fleet, or owned—has hard miles on it, which means I need to find a specimen with impeccable service records.

If the service records aren’t perfect, then job #1 for you needs to be establishing a baseline and bringing everything that was overlooked up to date.

Is the extra $$$ for a CPO worth it? Only you can answer that. If the miles are low, and the service records look great, I personally wouldn’t worry about it for a 2nd gen Tundra.

However, what I am always willing to pay for with a used vehicle is a pre-purchase inspection at an independent shop I trust. Well worth the $75 (or maybe $100) for an itemized 50-point inspection.