Last post on Apr 01, 2013 at 9:27 AM
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Toyota Tundra, Car Leasing, Truck
#179 of 235 Re: How can Toyota offer a $269/month lease on a $28K MSRP car? [ataylor61802]
Jul 25, 2008 (4:40 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
Jul 29, 2008 (6:09 pm)
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.
#181 of 235 2008 Tundra 5.7L Double Cab (Houston, TX)
Jul 30, 2008 (12:27 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
#182 of 235 Re: 2008 Tundra 5.7L Double Cab (Houston, TX) [6a14ugx4]
Jul 30, 2008 (12:42 pm)
in CA the buy rate on a lease is 0.00016
#183 of 235 Re: 2008 Tundra 5.7L Double Cab (Houston, TX) [6a14ugx4]
Jul 31, 2008 (1:40 am)
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@Edmunds HOST
Jul 31, 2008 (7:43 am)
Either that.. or he left out a zero..
Aug 13, 2008 (6:37 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]
Aug 14, 2008 (1:58 am)
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.
Aug 14, 2008 (6:44 pm)
If you're gonna' lease, definitely do it now! Toyota Financial Service's money factors are insanely low right now!! When you find the exact vehicle you want, ask the dealer what the residual value is - they will more than likely be truthful with that figure as it's set by the lender. TFS residualizes each vehicle differentley based on options, but depending upon annual mileage allowances, anywhere between 51-54% on a 36 month lease.
Rates also vary by region, but should be between .00015 - .00075. Unlike the residual value which is already set, the dealer can and probably will want to "mark up" the money factor. Since you have a ballpark of where the rates are, request those numbers from your dealer by asking them what the residual and "buy rate" money factor are? Or, ask them what that tier 1+ base rate is? If you're 720+, you're tier 1+ with TFS.
As for a selling price/cap cost, $500 over - $500 below invoice + any additional incentives in your region. Or, a dealer discount of ~$3500-$4500 + additional incentives.
#188 of 235 Toyota Tundra 2008 Lease SR5 V8 5.7
Aug 15, 2008 (11:27 am)
I am interested in leasing a new Tundra and I am tired of getting the run around. I have been to a few different dealerships and I am confused.
I have a 734 credit score and I keep getting told to get the vehicle I have to put money down and still have a payment of atleast 450 - 500 a month. I know that there has to be better deals. They keep telling me I have to pay the MSRP for the lease.
What is the break down on how this works. Do I really have to pay MSRP or how do I talk them down? What is the cap and invoice price mean? Also, I have been looking on other posts and see stuff like 00016 and 00075...what does that mean? I am in Tennessee with great credit and would like this truck for 350 or less.
Please help....TUNDRA V8 4X4 5.7