Last post on Apr 01, 2013 at 9:27 AM
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Toyota Tundra, Car Leasing, Truck
#90 of 235 Re: 2007 Toyota Tundra Double Cab Lease Program [sbarney7]
Sep 20, 2007 (2:27 am)
Hi sbarney7. I see that you are considering trading in your current Tundra when you lease a new one. There's nothing wrong with doing this, but it would be in your best interest to have the dealer that you are working with cut you a check for the $7,500 in equity that you have in your trade rather than using the proceeds as a capitalized cost reduction for your lease. I always advise consumers against making cap cost reduction s when leasing. The main reason I do so is that if your leased vehicle is totaled in an accident or stolen and never recovered, part or all of any down payment that you made may just disappear.
Toyota Financial Services' money factors for the 2007 Tundra vary by region. I believe that Rhode Island is in Toyota's Boston region. Its buy rate lease money factor for Tier 1+ customers in that area is currently .00017. TFS' current residual value for a 36 month lease of a 2007 Tundra Double Cab 4WD with 15,000 miles per year is 56%. Unfortunately, it is difficult to use this residual value percentage to calculate the actual dollar residual value for the truck that you are interested in because unlike most banks TFS places restrictions upon what options can be residualized.
Prices Paid: Buying & Leasing Experiences Forum
#91 of 235 Toyota Tundra Lease Info
Dec 04, 2007 (11:08 am)
What are the current residuals and money factors on 08 Tundra's in the Omaha, NE area (KC region?)? I'm looking at an 08 Dbl Cab Tundra Grade with an MSRP of $31433 for 3yr/36k miles. Also, if you lease through Toyota, do you still get the incentives (currently $1500 if you buy)? I'm getting ready to talk numbers with a dealership and want an idea if whatever number they shoot me is fair or not. Thanks!!!
#92 of 235 Current 2008 Tundra CrewMax Limited lease deal?
Jan 04, 2008 (7:48 pm)
Can anyone post recent information on loaded 2008 Tundra CrewMax Limited lease rates/deals?
#93 of 235 RE:Current 2008 Tundra CrewMax Limited lease deal?
Jan 04, 2008 (9:45 pm)
golden411, I am in Ohio and spoke with a dealer today. Here's what he basically told me. For a 2008 Tundra CrewMax Limited, example was MSRP $44,500, Cap Cost of $41,777, residual at $22,576. Money factor .00029. I don't see than as a any kind of good deal and I don't know if it's timing (new year) or the region I am located. I know that in the south region (i.e. texas) deals and trucks are more plentiful. Actually, if you try to build and price a vehicle, you get different screens based on your zipcode. In Ohio, they don't even let you select the SR5 model because they don't ship them into the Ohio/Michigan/Kentucky/Tennesse region. Another kicker is that the rebates vary by region if you consider buying ($2500 in Ohio vs $3000 in Texas). I don't think dealers in Ohio have very much incentive right now because they are not looking at volume like other regions do.....
#94 of 235 RE:Current 2008 Tundra CrewMax Limited lease deal? [builtit]
Jan 07, 2008 (2:27 pm)
That deal looks like they capped the cost at about $750 over invoice with a money factor that equates to less than 1% APR! How is that a bad deal?
With special lease factors, you DO NOT get the cash rebates.
The only way you're described scenario would Not be a good deal, is if you're money factor was a typo. If the rate is .0029 (6.96%) instead of .00029 (0.696%) then you're right... nothing special.
If the rate is truly .00029, I'd have them knock another few hundred bucks off, then sign the paperwork and drive home in your new truck!
#95 of 235 Toyota Tundra Double Cab Questions
Jan 07, 2008 (3:37 pm)
Dear Car Man or other kind people:
------------------------------------Toyota TUNDRA QUESTION -------------------------
Model Year 2008
4.7L, Double Cab
Price quoted after Toyotal rebate: $25,411 (includes $3,000 factory rebate)
MF: 0.00029 (approx 0.7% APR rate)
I am looking to make sure that the MF and Residual are correct. I have not asked them for the residual yet but wanted to get actual or ballpark number for it.
--------------------------------------------- F-150 Super Crew Questions --------------
I am looking to buy F-150 SuperCrew. I am able to negotiate the following:
Cap cost - Purchase: $25,400 (after $4100 rebate)
(If they give me loan, it would be at 4.9% but I have to give up $1,500 in rebate)
CAP Cost - Lease: $26,900 with rebate.
Zip Code: 75006 (Dallas Texas)
I want to talk Lease Option with them for 3 yr with 45,000 miles. My credit is Excellent.
1: What are the MF and other costs that I should be worried about? They did say that the lease would be calculated at 4.75%. Is that equivalent to MF = 4.75% / 2400 = 0.001979? Does this not seem high?
2: What is the residual for this car?
3: What other things should I be careful about?
Can you please guide me here?
Also, if there are other pick-up trucks, I rather entertain instead of this, please suggest.
#96 of 235 Re: Toyota Tundra Double Cab Questions [vcopell]
Jan 07, 2008 (10:59 pm)
Need the MSRP for the residuals. Ask your dealer if those rebates are compatible with the special money factors/ lease rates, most-likely they are not. The dealer has no reason to lie about this as they are bound to pass along those savings if they apply.
Go for the Tundra, more power and superior build quality over the Ford.
Why you not opt for the 5.7L engine? I can almost guarantee that it'll have a better residual value. Plus, it's more efficient along with being much more powerful than the previous generation 4.7L.
Invoice to $500 over invoice is a good deal on these trucks. If you decide to stick with the 4.7L, they should cap the cost at invoice.
#98 of 235 RE:Current 2008 Tundra CrewMax Limited lease deal? [ocautoseeker]
Jan 08, 2008 (7:00 pm)
ocautoseeker, that was no typo, yes, I agree with you that .00029 (under 1%) was fantastic. But at only a 54% residual for 3 years, that's nothing special. Maybe a 54 % residual after 5 years (which is more typical for Toyota), but not 3. I guarantee a 3 yr old Tundra will be much higher than that to buy outright in 3 years.
BTW, when I asked to come down and see the truck to take it for a test spin, he told me that he didn't have one on the lot, only '07's......and would have to find one for me. I was thinking he might be trying to pull the old bait and switch.... so I also told him an '08 SR5 model would be OK as well (same deal)... that was last Thursday and I haven't heard from him since.....not sure if the Lease offers have expired or not...
#99 of 235 Re: Toyota Tundra Double Cab Questions [ocautoseeker]
Jan 08, 2008 (7:55 pm)
Thanks for replies. I plan on getting with him tomorrow for more details. Here is what I got from another dealer:
2006, 4.7L, Double Cab, Running board, no DRL, no bedliner
If Purchased: there is a factory rebate of $3000.
If you use 0% finance for purchasing, the $3000 disappears.
If you Lease it, the MF is 0.00029 and no $3000 compatibility. If you use regular MF (at 6%/2400), the $3000 rebate can be used.
(I will be seeing him tomorrow to get the residuals and more information on the rebate etc). He said I could call Toyota Financials and they will tell me the same as well.
I was still wondering if you or CAR_MAN can tell me national MF and residuals. This would help me discuss more.
Appreciate your answers, sir !!
Agree that 5.7L is stronger and peppier but I do not feel like paying another couple of grand extra for that engine.
Ford drove well as well. I am only thinking of keeping such a truck for next 3 or no more than 4 years.