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Toyota Tundra, Car Leasing, Truck
#151 of 235 Re: I need a litthe feedback on this lease offer ... [stef3]
Mar 02, 2008 (5:47 pm)
According to ocautoseeker's rule here's a lease scenario I ran for a 39 X 12.000 miles 2008 2WD Toyota Tundra CrewMax SR5 V8 4.7L 5 1/2 ft 5-Speed Automatic (8260) I'm interested on:
KBB Invoice: 26,854.00
dealer holdback (2%) 537.08
Wholesale Financial Reserve (1%) 268.54
destination charge 685.00
Dealer advertising fee (3%) 805.62
Gasoline (3 gallons) 10.95
destination charge 685.00
Invoice price: 26,864.95
Deck Rail System SR5 : 108.00
Fog Lamps : 88.00
Daytime Running Lights : 32.00
Radio, JBL w/6-Disc CD Changer in Dash : 780.00
Running Boards : 276.00
Wheels, Aluminum Alloy : 816.00
Total invoice price: 28,964.95
AGREED UPON VALUE (SELL PRICE) 28,560.00
Lease Acquisition Fee : 550.00
Processing Fee : 45.00
License Fee : 250.00
Registration Fee : 15.00
Doc Fee : 45.00
1st Month's Payment : 312.60
Gross Capcost : 29,777.60
Cap Reduction : 0.00
Residual Factor : 56%
Money Factor : 0.00029
Lease Term : 39 months
Base Monthly Payment (w/o Tax) : 294.93
Broward Sales Tax Rate : 6.00%
Taxable Payment : 294.46
Monthly Sales Tax : 17.67
Monthly Payment (w/ Tax) : 312.60
Are these numbers right?
Thanks for your help
#152 of 235 Re: I need a litthe feedback on this lease offer ... [pcantore]
Mar 02, 2008 (8:25 pm)
I do not know exactly what kind of incentives apply to the CrewMax 4.7 but I will try to do some numbers. If the deal you present at the end is an actual offer from your dealer I don,t know what to say because I came up with different things here ...
Starting from KBB invoice of $27,539, dealer cost of this car with the options($2100) you want should be around $28000
The advertising fee (TDA) is $391 so the invoice will be around $30000 (includes Destination, Dealer Hold back, Wholesale Reseve, TDA and Gasoline)
From this about $800-$900 is the Dealer Hold back and Wholesale Reseve.
If you offer the dealer 30,000 (invoice) his profit will be around $800-$900 (Dealer Hold back and Wholesale Reseve)
As far as the accuracy of this calculation I am not 100% sure but I hope ocautoseeker will help us out.
I did a basic estimate of the lease with $905 in fees as total of drive off for 39 months, and based on your stated 56% residual (I am not sure about this) and 0.00059 money factor (the 0.00029 I do not think is right) your monthly payment shoud be around $380-$390 including tax.
One more time .... I am trying to figure out this calculation approach and any feedback would be apreciated.
ocautoseeker ... please help us if you are not too tired )))
#153 of 235 Re: I need a litthe feedback on this lease offer ... [pcantore]
Mar 02, 2008 (8:39 pm)
Hold on people... let's not make things too complicated here.
First, the KBB and Edmund's invoices already include the Destination, Holdback and Financial Reserve. Whether it includes the $10 fuel charge is really insignificant as ten bucks isn't going to break anyone. The only discrepency you should see from an internet invoice and a dealer invoice is the advertising fee (TDA). This fee will vary from manufacturer, but Toyota's is ~ 1.25% of the BASE invoice. Some will question as to whether this fee is legit, but most manufacturers factor the cost of advertsisng into their products and dealers typically don't like to haggle on this fee.
For Toyota: the holdback is 2% of the BASE MSRP and the Financial Reserve is 1% of the BASE MSRP. The destination is set and non negotiable, so don't even bother.
Below is a partial factory invoice from stef 3's ideal truck. I highlighted the important parts to better illustrate how the fees are itemized. The bottom line is this: when negotiating, knowing how much the dealer has in holdback and financial reserve is a great tool if you're looking to get really, really, really aggressive, and hit them at the right time of the month.
Vehicle Base Model ....................: $ 35710.00 (Base MSRP) $ 31246.00 (Base Invoice)
--------- --------- ---------
Total Accessories ...........................: $ 2107.00 $ 1468.50 $ 2107.00
Destination Charge ..........................: $ 685.00 $ 685.00
TDA .........................................: $ 391.00
Gasoline ....................................: $ 10.00
Dealer Holdback .............................: $ 714.00
Whsl. Financial Reserve .....................: $ 357.00
Total Invoice/MSRP .......................................: $ 34871.50 $ 38502.
So, basically, the total invoice you would see here on Edmunds would most-likely read $34,480, which is only less the the $391 TDA fee. Make sense??
#154 of 235 Re: I need a litthe feedback on this lease offer ... [ocautoseeker]
Mar 02, 2008 (8:57 pm)
You are fast answering ... thanks.
Sorry, I just realized that I am turning s~~t around for no reason.
You are right ....
#155 of 235 Re: I need a litthe feedback on this lease offer ... [stef3]
Mar 02, 2008 (9:33 pm)
Below is the formula to calculate your lease payments:
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
#156 of 235 Re: I need a litthe feedback on this lease offer ... [ocautoseeker]
Mar 03, 2008 (7:20 pm)
So basically, I can take KBB (or Edmunds) invoice price and just add $391 (TDA). Right?
The formula to calculate the lease payments I had a small error. I arrived at $337.00 total monthly payment which is great!
Thanks again for your help,
#157 of 235 Re: I need a litthe feedback on this lease offer ... [pcantore]
Mar 03, 2008 (9:41 pm)
Correct. The TDA will vary from region-to-region, and from model-to-model, so to be safe, just take the total invoice from edmunds or kbb, and assume that a dealer's invoice will be ~ $400-$500 more.
#158 of 235 Re: I need a litthe feedback on this lease offer ... [ocautoseeker]
Mar 04, 2008 (1:43 pm)
So, if my offer to the dealership should be: Invoice price minus $400-$500, then I should simply take the Edmunds or KBB price as stated on their website. This way, I should be getting the best deal, right?
#159 of 235 Question: Lifts on Tundra Crew & Warranty
Mar 09, 2008 (3:03 pm)
Question: Lifts on Tundra Crew & WarrantyI ordered a 08 Tundra Crewmax 4x4 this week. I am going to put a lift on it when it comes in through the delearship (they send it out). I went to 3 different Toyota delearships and asked about the lifts. One said that I can get a lift no more than 6"'s (which is what I want), the other two said no more than 3" (which is okay). Does anyone know the answer? Are there any articles? If you have a lifted Tundra, do you like the lift.
Rich from Phoenix, AZ.
#160 of 235 Assume Tundra Lease - deal or no deal?
Mar 19, 2008 (12:10 pm)
2007 Toyota Tundra Crewmax Limited Pickup, 5.7L
Anyway - I've heard that for people (my wife) that like to turn over cars < 3 years, leases are an attractive option. There's a lease "assumption" that's available quasi-locally (private party) that I'm considering: 2007 Tundra, 5.7, 4wd, crew cab. Est purchase price $41k $5000 down (I pay the guy currently leasing it) Lease started in 7/2007. 12k/year mileage allowance (this is OK, as the wife could walk to work) Currently has 8500 miles. Lease cost: $339/mo for a total of 36 months (from 7/2007) I believe the residual is: 56% Deal / no deal? The payments are unusually low - he says he put $7500 down + some trade it, which is why he's asking for the $5k. General comments?