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Toyota Tundra: Lease Questions

235 messages,  Last post on Apr 01, 2013 at 10:27 AM

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What is this discussion about? Toyota Tundra, Car Leasing, Truck

Messages Page 18 of 24

#165 of 235 Re: Assume Tundra Lease - deal or no deal? [ocautoseeker] by jackel142

Mar 22, 2008 (8:34 am)

Replying to: ocautoseeker (Mar 22, 2008 4:03 am)
MSRP of 42k.
What should the lease payment be for 24-48 months? 12k per year total walk in cash of $1000.00

#166 of 235 Re: Assume Tundra Lease - deal or no deal? [jackel142] by ocautoseeker

Mar 23, 2008 (2:37 am)

Replying to: jackel142 (Mar 22, 2008 8:34 am)
Hard to say without the VIN as every Toyota carries a different residual value. It's not a straight 53%, 55% etc. like some manufacturers. MF's also vary quite a bit by region, but .00029 -.00059 is what we're seeing for Tier 1+ customers as an average across the nation for the month of March.
 
TFS doesn't do 24 mo leases for 12k annual miles, only for 15k (I know... weird!), But, in my best educated guess, given I don't have the exact residual, mf, and cap cost for a specific truck... with drive offs only, assuming a cap cost reduction/discount of ~$4000, & 7% local sales tax, you'd probably be somewhere bewteen $475-$530/mo on a Tundy that carries a $42k list. Vehicle probably has a residual near 52% for 36 mo and 42% for 48 mo assuming 12k annual miles.
 
Remember, with special subvented money factors, cash rebates do not apply. It's like choosing betwen the rebate and 0% financing on a purchase... you only get one or the other.
 
Again, without an exact truck, I can't give you an absolute.

#167 of 235 Re: Assume Tundra Lease - deal or no deal? [ocautoseeker] by jackel142

Mar 23, 2008 (3:48 pm)

Replying to: ocautoseeker (Mar 23, 2008 2:37 am)
Here is the vin - 5TBBV58158S495768.
 
08 Double Cab 4X4 Limited
 
It's located at Tri-County Toyota is Royersford PA. Local Sles tax is 6%
 
MSRP is $42590.00
 
What shouuld the lease payment be with tax & tags down, 12k per year?
 
Thanks!

#168 of 235 Re: Assume Tundra Lease - deal or no deal? [ocautoseeker] by cb1000rider

Mar 25, 2008 (2:44 pm)

Replying to: ocautoseeker (Mar 23, 2008 2:37 am)
4x2 CrewMax, limited
Found out the "assumption" wasn't a deal due to asking up front cost.
Also found other websites online that allowed me to compare lease assumptions.
 
Ballpark, I can get into a 33-34k truck + tax for a $399 lease - use that as the "gauge" for new truck leases.
 
Older lease assumptions may be worse, the Tundra was selling much better in 07.
 
Residual.. Well, I haven't figured out if I'd actually want to buy it. No cost for turning it over through Toyota Financial.
 
Anyone know if Toyota Financial will have the ability to negotiate a buyout on a lease - seems like there are going to be a good number of 07 Trucks that sold for higher prices than the discounted 08s and the residuals are going to be bad.

#169 of 235 Re: Assume Tundra Lease - deal or no deal? [cb1000rider] by sebring95

Mar 27, 2008 (11:25 am)

Replying to: cb1000rider (Mar 25, 2008 2:44 pm)
Anyone know if Toyota Financial will have the ability to negotiate a buyout on a lease - seems like there are going to be a good number of 07 Trucks that sold for higher prices than the discounted 08s and the residuals are going to be bad.
 
Actually, the residuals on the new Tundra were pretty low right from the start. In fact, when the CM first hit, the residual was very close to the residual on my ’05 DC. So either they knew from the start they were going to discount them…or they were just being conservative. The current leases are better deals simply because of the decrease in selling price.
 
I don’t recommend leasing to anyone. I’m a CPA and have done a ton of lease vs buy comparisons and it’s generally not a good financial decision. Now, if you just want to pay more for some possible convenience (or inconvenience depending on the circumstance) that’s another story.
 
That being said, I have assumed several leases over the years. Usually bailing out people that HAD to get out of their lease for whatever reason and I was able to find value in that. But for every good lease assumption out there on swapalease or leasetrader, there’s a ton of really bad ones. I did really well on my first two, but this last one (my ’05 Tundra) was just ok. The residual was higher than real-world wholesale value and Toyota would not negotiate at all. I also had to have a dealer handle the purchase because Toyota Financial will not sell the vehicle directly to you. Basically, the dealer bought the truck from Toyota and then sold it to me (with a small paperwork fee…..). So that was a pain as well, where prior leases I’ve just sent the check and they sent me a title.
 
I actually kept this truck because it wasn’t a terrible deal to buy and I really like the truck. In the past I’ve always bought out the lease and resold the truck and made a big chunk of my payments back. Prior to this I assumed an ’03 Silverado for 24 months and my net cost was around $1,800 after I bought/sold it. Not bad for a basically new vehicle. I had expected to have about $2,000 in the Tundra across 24 months, but the market went to pot so there wasn’t as much resale profit potential. Don’t play these games if you can’t afford it!

#170 of 235 Re: Assume Tundra Lease - deal or no deal? [jackel142] by ocautoseeker

Mar 28, 2008 (6:51 pm)

Replying to: jackel142 (Mar 23, 2008 3:48 pm)
Sorry for the delay...
 
36/12k lease assuming a cap cost of invoice ($38,801), you're looking at $526.56/mo (includes 6% tax). Price does not include the $550 lease acqusition fee which can either be paid upfront or capped into the lease. Vehicle carries a 51% residual value.
 
48/12k (42% residual) - $482.07 (includes 6% tax)
 
Numbers assume a money factor of .00029 for TFS Tier 1 + customers, but it may vary slightly in your region.

#171 of 235 Tundra Lease by mntbiker

Apr 28, 2008 (5:31 pm)

I am in Florida and am being quoted 45% residual on a 2008 CrewMax Limited, 2wd for a 36m/12k lease. The money factor is .0184.
Although the trucks are discounted heavily, the low residual and high money market make for high lease payments. Is this the same throughout Florida?

#172 of 235 Florida money factor and residual values by mntbiker

May 05, 2008 (9:20 pm)

Do you happen to have these figures on the 2008 Toyota Tundra?

#173 of 235 ??? by mntbiker

May 08, 2008 (5:30 pm)

is there anyone working this thread?

#174 of 235 Re: ??? [mntbiker] by ocautoseeker

May 09, 2008 (12:29 am)

Replying to: mntbiker (May 08, 2008 5:30 pm)
You live in Florida, and Southeast Toyota (SET) has different rates than Toyota Financial Services (TFS) which is the main captive finance company.
 
SET Finance "incents" their deals a bit different and unfortunately, I do not have those numbers. Sorry.

Messages Page 18 of 24

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