Ask the Car People.SM


Toyota Tundra: Lease Questions

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

You are in the Toyota Tundra Forum.

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

Messages Page 19 of 24

#177 of 235 Re: [awedio] by jdemissie

Jul 06, 2008 (11:41 pm)

Replying to: awedio (Jul 06, 2008 9:28 am)
Regards Awedio. I took the advice and visited the dealership once more….
 
Here is the new offer I was given on a 36 mo lease with a $1,500 cash incentive:
MSRP: $33,400
Invoice: $30,810
Cap: ???
Residual: $17,764
 12k miles/yr.
Dealer requires $4,000 down
Monthly Payment including tax: $323.50
 
I’m still negotiating on a 2008 Tundra 4x4 Crew Cab - 5.7 engine, however, since this deal still requires a $4K, I felt reluctant to move forward. They say the offer ends tomorrow – July 7th. What would you do if you were in my shoes?

#178 of 235 Re: [jdemissie] by awedio

Jul 07, 2008 (6:08 am)

Replying to: jdemissie (Jul 06, 2008 11:41 pm)
jdemissie,
Are you dealing with the retail salesman? Ask for the fleet manager?
That $4k down is a bunch of BS!
 
Leasing 101 = never put any money down on a lease.
Your "down" should be minimum drive off = 1st mo. pmt + dmv + security deposit (sometimes the sec deposit is waived)
 
your cap should be no more than 30810 + 100 over, less the 1500 cash (if I'm not mistaken, the 1500 cash is used as a cap reduction & is taxed)
cap = 29560 (assuming a tax rate of 10%)
 
MF = .00016
 
using the residual you provided, your base mo. pmt + interest, should be
327 + 7.60 = 334.60 + your sales tax
 
if you need more help, send me your contact info & I'll help you negotiate the deal

#179 of 235 Re: How can Toyota offer a $269/month lease on a $28K MSRP car? [ataylor61802] by sparkland

Jul 25, 2008 (5:40 pm)

Replying to: ataylor61802 (Mar 08, 2006 1:14 pm)
"I strongly suspect that consumer auto leases (at least those sponsored by the auto manufacturers) will be history by the end of the year.
 
Chrysler has already announced that they will exit the lease business on August 1st. Cerberus Capital not only owns Chrysler and Chrysler Financial but controlling interest in GMAC as well. So I suspect GM will follow shortly.
 
Ford took a $2.1 billion charge for the quarter due to falling lease residual values.
 
Honda just released their first quarter financial report and noted that they expect falling lease residual values in the USA to cut their operating profit by $231 million. Just look at the residual calculations on 2006 Ridgeline's as an example of how wildly they miscalculated.
 
I believe the manufacturer sponsored consumer lease will soon be history. Only time will tell."
 
This information was quoted from "Joe" on the ROC forum.
 
Interesting reading to be sure.

#180 of 235 2008 Toyota Tundra SR5 4X4 Dbl Cab 5.7L by 6a14ugx4

Jul 29, 2008 (7:09 pm)

Car_Man,
 
I am about to make a purchase and I'm trying to decide whether I should lease or buy. The conventional wisdom is telling me that if I plan on keeping it I should buy it outright, but the dealership in Houston, TX is offering me an extra $2K incentive for leasing. Should I take the bait??
 
* I managed to negotiate the truck to $22,800 (including 3500 worth of installed options) - This deal is after the $5K manufacturer's incentive currently being offered.
 
The deal being offered based on my questions to the dealership:
 
36 months lease / 12K miles / 325 down (1st payment), but I can't seem to get him to tell me what Money Factor used to arrive at the number and he claimed that the residual value will be 17K at the end of the lease. I don't seem to be able to understand how he came up with that 325.33 monthly payment.
 
Thanks in advance.
 
RG

#181 of 235 2008 Tundra 5.7L Double Cab (Houston, TX) by 6a14ugx4

Jul 30, 2008 (1:27 pm)

I have a lease deal proposed to me with a Money Factor of 0.00340 on a 36 months lease with a residual value of 17,500 on a Tundra 2008 with the selling price after 7K of rebates/incentives. Is that a good deal?
 
I'm trying to make a decision on whether to purchase vs leasing
 
RG

#182 of 235 Re: 2008 Tundra 5.7L Double Cab (Houston, TX) [6a14ugx4] by awedio

Jul 30, 2008 (1:42 pm)

Replying to: 6a14ugx4 (Jul 30, 2008 1:27 pm)
RG,
 
in CA the buy rate on a lease is 0.00016

#183 of 235 Re: 2008 Tundra 5.7L Double Cab (Houston, TX) [6a14ugx4] by ocautoseeker

Jul 31, 2008 (2:40 am)

Replying to: 6a14ugx4 (Jul 30, 2008 1:27 pm)
that's an atrocious mf!! they have to be quoting you numbers from an outside lender. tfs' rates are very low right now in most regions,making it a great time to lease a tundra, if you don't mind the extra fuel expense, though.
 
in many regions, if you qualify for tfs' tier 1 + credit, your rate will hover around 1%.

#184 of 235 Re: 2008 Tundra 5.7L Double Cab (Houston, TX) [ocautoseeker] by kyfdx HOST

Jul 31, 2008 (8:43 am)

Replying to: ocautoseeker (Jul 31, 2008 2:40 am)
Either that.. or he left out a zero..

#185 of 235 by endlessmoto

Aug 13, 2008 (7:37 pm)

I am looking to do my first lease and I am still a little unsure how to know if I am negotiating a good deal;
 
I am between a '08 Tundra and '08 Tacoma;
 
I am located in Milwaukee, WI 53227, Tax rate 5.6%, and fall into a Tier 1 credit rating
 
The 2008 Tundra I am looking at is as follows;
CrewMax 4x4, SR5 w/ Off-Road Package
MSRP: $39,700 w/ delivery
 
Can anyone tell me what money factor and residual will be on this truck; I'm looking at doing a 3 year/36K mile lease and hoping to walk away with just 1st month, taxes, and registration.
 
Let me know what you think the best possible deal I can walk with this truck is. The dealer said they have a $1000 rebate through August and an additional $1500 if I can register it under my business name.
 
I was told this month is the best month of the year to lease a Tundra. Thanks for your help!

#186 of 235 Re: [endlessmoto] by obyone

Aug 14, 2008 (2:58 am)

Replying to: endlessmoto (Aug 13, 2008 7:37 pm)
With resale value down in the pits, I'd think Toyota being conservative would make it difficult at best to lease. Other manufacturers have walked away from it completely.

Messages Page 19 of 24

To POST a message, please Sign In.

Advertisement

Browse by Category

Browse by Vehicle
   View All Vehicles

Browse by Board
Browse by Topic
View All Topics

Edmunds Community

Advertisement