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Prices Paid: Buying & Leasing Experiences Toyota Tundra Lease Questions
222 messages, Last post on Sep 17, 2008 at 2:23 AM
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confusing to me! I am considering purchasing the following: 2008 Tundra Crew Max 5.7 SR5. Including extras, it has an MSRP of $34,759. I was offered a dealer discount of $3500 and a rebate of $7000 if I were to purchase (I obtained a tax ID number to get the extra $2000 rebate to purchase it via a business name). If I were to lease, the dealer discount is $5,000 and a rebate of $9,000. The tax and docs fees were normal but the lease option added a $550 fee. I was told if I were to put a $10750 one pay lease payment, we were to have no payments for 3 years and a residual of $15,750, with no cost to relinguish the truck. Is this a good deal? Can there be any further negotiation? What should I be careful about?
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Replying to: grubbs2 (Aug 17, 2008 1:36 pm) The dealer discount should be the same regardless of purchase or finance - $3500 off seems more realistic. The large rebate is not compatible with TFS leases. It varies by region, but in socal, on leases, you get $1000 bonus cash + super low money factors (based on tier). The $5k rebate is not compatible on TFS leases - not sure about the biz cash, sorry. Your one pay lease works out to less than $300/mo. Great deal! |
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Replying to: ocautoseeker (Aug 17, 2008 2:23 am) Alicia
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Replying to: alicia33 (Aug 19, 2008 7:19 am) Okay, let me show you what the Toyota dealer sees on his computer screen... 18186 VEHICLE INQUIRY REPORT DATE: 08/20/08 DCV920 TIME: 09:51 Model Number: 8352A SERIAL # :8X053419 Check Code: 0 Model Description: DCAB LTD 5.7L V8 Category ..........: G Year ............: 2008 Current Dealer ....: XXX-XXXXX Interior Color ..: LD13 LD13 Wholesale Dealer ..: XXXXX Exterior Color ..: 0040 WHITE Previous Dealer ...: XXXXX Body ............: DBL CAB 5.7L LTD Invoice Date ......: 02/08/08 Number of Cyl ...: 8 Ship Date .........: 02/07/08 Allocation Number: 012 Retail Date .......: Engine Number ...: 5206225 Date of First Use .: Vessel Number ...: 705 TRAC ..............: NO Vessel Name .....: TMMTX SANANTONIO Damage ............: NO DAMAGE PDI ...............: YES Fleet .............: NON-FLEET Port PDS Complete .: NO VIN .............: 5TFBV5814XXXXXXXX Ignition Key.....: N/A Factory Installed Accessories: FE AL Port Installed Accessories ..: C4 7J Retail Dealer Vehicle Base Model ....................: $ 38770.00 $ 33923.00 Total Accessories .....................: $ 1048.00 $ 813.50 MECHANICAL & PERFORMANCE GVWR = 7100 lbs. Payload = 1560 lbs. Tow Capacity = 10,300 lbs. 381HP/401 Lb-Ft 5.7L DOHC 32V iForce V8 w/Dual Independent VVT-I and ACIS 6-Spd Auto w/Seq Shift and Tow/Haul Mode Engine Immobilizer, Cruise Control 4WDemand 4x4 System w/Electronically Controlled 2 Speed Transfer Case Tow Equip: Hitch Receiver, Supp A/T Cooler, 4.30 Rear Diff w/10.5" Ring Gear 150A Alternator, A/T Temp Gauge, 7 Pin Conn, Trailer Brake Controller Prewire Automatic Limited Slip Diff (Auto LSD) Front and Rear Sonar TripleTech Frame: Fully-boxed Fr Section Reinforced C Under Cab, Open C Under Bed Coil Over Shock Double A-Arm Front Susp Multi-Leaf Trapezoidal Rear Suspension 18" Alloy Wheels w/P275/65R18 Tires EXTERIOR 6.5'' Double-Walled Bed w/Tailgate Assist Color-keyed Fr/Chrome Rr Bumper Chrome Grille/Door Handles/Outer Mirror Sliding Rr Window w/Privacy Glass Fog Lamps INTERIOR Leather Trim Pwr Heated Front Buckets Automatic Dual Zone Climate Control JBL AM/FM 6-CD, 10 Spkrs, Aux Audio Jack w/Steering Wheel Audio Cntrls, Bluetooth Power Windows/Door Locks/Mirrors Remote Keyless Entry & Anti-Theft System SAFETY STAR Safety: Pwr Assist 4 Wheel Disc ABS w/Electronic Brakeforce Distrib (EBD), Brake Assist, Vehicle Stability Control with Active Traction Control (VSC+ATRAC) Dr & Fr Pass Advanced Airbags/Seat Side Airbags/3 pt Seatbelts w/Pretensioners & Force Limiters Roll-Sensing Curtain Airbags (RSCA) Tire Pressure Monitoring System Retail Dealer Total Vehicle Base Model ..........................:$ 38770.00 $ 33923.00 $ 38770.00 50 State Emissions ......................... 20" Alloy Wheels w/P275/55R20 Tires ........ 920.00 736.00 Carpet Floor Mats - 4 piece ................ 115.00 69.00 Front License Plate Bracket ................ 13.00 8.50 --------- --------- --------- Total Accessories ...........................: $ 1048.00 $ 813.50 $ 1048.00 Destination Charge ..........................: $ 685.00 $ 685.00 TDA .........................................: $ 400.00 Gasoline ....................................: $ 10.00 Dealer Holdback .............................: $ 775.00 Whsl. Financial Reserve .....................: $ 387.00 --------- --------- Total .......................................: Invoice: $36993.50 / MSRP: $40503.00 Residual Value ...: 24 36 48 60 ------- ------- ------- ------- STD 22,599 20,273 16,583 13,482 LOW 21,048 17,359 14,257 Forget about all the itemized numbers, you just want to deal based off the total invoice (in bold), which already includes all options installed at the factory. Now, if the dealer installed additional options (rims, bedliners, exhaust, etc), that will alter the invoice. Stay away from aftermarket products on a lease, little if any can be residualized. Go for stock stock stock!!! Take this truck for example, the MSRP is $40,503, and the Invoice is $36,993. You would want to get as close to $36,993 as possible. So let's say they sell you the vehicle at Invoice, that's a dealer discount of $3510. So, in essense, they'd be selling you the vehicle/capping the cost at $36,993. Plus, if there is any factory lease cash/bonus cash available in your area, it will either be used to reduce your cap cost ($36,993) or be used as a down payment, or used to pay part or all of your inception fees. Remember, these are the monies you pay upfront which usually include: 1st mo payment + tax, dmv fees, doc fees, and possibly an acquisition fee. If the acquisition fee is not paid upfront, it will be "rolled" into your cap cost ($36,993 + $550 = $37,543). Understand?? Hope this helps?
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Replying to: ocautoseeker (Aug 20, 2008 2:05 am) are those residual figures based on 15k miles? Toyota's residuals seem to be a fixed no., they don't use a percentage like other manufacturers, is this correct?
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Replying to: awedio (Aug 20, 2008 3:09 am) You have to move the LOW numbers over one to the right so the columns line up. TFS doesn't offer a 24 month residual for LOW. I know, weird! Yes, Toyota assigns a residual value to each individual vehicle instead of a set percentage. Some options will raise or lower the residual. |
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Hi guys!! Please provide your guidance and wisdom...I'm just so annoyed that some dealers are treating trucks/suvs like they are in high demand. my goal is to get either a crewmax (4x2) limited, or a doublecab (also 4x2) limited at a reasonable price (for crewmax $500/month, and for doublecab, $450/month), but so far, after talking to 5 dealers, no results (or maybe so, but you be the judge). seems like buying a truck is harder than buying a lexus! i purchased an ES last year and a GS this year and so far negotiating on a friggin tundra is so much more painful... let's start with crewmax. Car's MSRP is at $43k . with all the rebates and incentives, Toyota of Long Beach said they could sell the car at $34k. with $1.5k down and standard 36 month/12k miles per year lease, I would need to pay close to $580/month or something ridiculous! I guess due to the huge $5.5k rebate, I cant take advantage of the superlow lease rate... this doesnt seem right! so far I have not been able to get the crewmax down below $500/month w/o increasing down payment--what's the strategy to negotiate here? I also looked at the doublecab (4x2 limited) MSRP $39k. best offer so far is selling price of $35k, with $1100 down the payment would be $495/month (includng tax) from toyota of anaheim (they said they went below invoice also minus the dealer holdback). similarly, toyota of orange offered $479 plus tax, but $1500 down. help advice? thanks!
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Replying to: mi7 (Aug 22, 2008 5:51 pm) It's very simple, when leasing through the captive bank, in this case, TFS... the rebate ($5500) is NOT compatible with their lease programs. The money factor that is being offered equates to less than 1%, so look at it like as if it were a purchase... either take the cash (rebate) or choose the 0% financing, but you don't get both. Now, there is an additional $1000 bonus cash available that IS compatible with the lease, so make sure they either use this to reduce the cap cost, use it as a down payment, or pay some of your drive offs. My advice, since it's a Lmtd and a 2wd, your cap cost should be ~$1000 below invoice. So, figure about $4500 off MSRP to begin with, then make sure that the bonus cash ($1000) gets factored in somehwhere based on the aformentioned. So, on a lease, you should be "net - net" about $5500 off. Hope this helps.
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Replying to: ocautoseeker (Aug 22, 2008 7:22 pm) 
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Replying to: mi7 (Aug 23, 2008 12:39 pm) you also need to remember, although the rate is low, the residuals are not strong and will continue to fall for '08 models, and you are trying to lease a $40k + vehicle, so keep that in mind. ask the dealer what the reisdual is and i'll calculate your payments. confirm the bank fee is $550, too? good luck!
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