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Lease Negotiations?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Okkine, Jul 7, 2008.

  1. Jul 9, 2008 at 4:45 PM
    #21
    genxer36

    genxer36 Lord of Tomfoolery

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    What is the sticker price of the truck? Is it the $25680.20 or is that the negotiated price?

    48 payments of 134.68 = $6464.46 (is this the payment quoted from the dealer with $8000 down?) The buyout would not be $10,174.85 at the end of the lease? The $8000 down will probably go towards interest. I bet the buyout would be more like $14,000 or more. Then you would have to finance the buyout at the end & finance the vehicle another 3-5 years. Think of all the interest you would have to pay on top of that.
     
  2. Jul 10, 2008 at 1:15 AM
    #22
    genxer36

    genxer36 Lord of Tomfoolery

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    2008 Tacoma DC there is a $2000 rebate or 0.0% financing(found on carsdirect.com website). Not sure if it is available in Canada.
     
  3. Jul 10, 2008 at 10:10 AM
    #23
    Angus_NB

    Angus_NB Well-Known Member

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    Okkine; You pay tax on any down payment so the money you may save on interest will be more than wasted on taxes. If you use the money as a security deposit on the truck your payments are still lowered and you get the money back at the end of the lease.
    The interest rate on 5 year financing and 4 year lease is 3.9% not 5.9%.

    genxer; The $25,680.20 is the total payed out including interest. The bas price of the truck is around $22,000.00.
    We know exactly what the buyout is going to be except for over mileage and damage. The down payment does not go toward interest any more than the rest of the payments do. It comes off of the base price of the truck but is taxed like any lease payment.
    I know you are having trouble getting around this but there is really very little difference between buying and leasing for us.
    When I did my own calculations I was looking at a 4 year lease and 2 year financing for the buyout or a 6 year loan. The outcome was nearly identical financially but I was only committed to having the truck for four years with the lease. If I hated it I could just give it back to Toyota.
    We always have the option of selling the vehicle before the end of the lease. That is the best thing to do if you are over the allotted mileage.
     
  4. Jul 10, 2008 at 11:15 AM
    #24
    genxer36

    genxer36 Lord of Tomfoolery

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    Sounds like I need to buy my next one in Canada. Except for the kilometers thing. lol This country was supposed to change to that in the 70's. I remember having to learn it in elementary school & they were talking about it on the news. Not sure what happend with that plan.
     
  5. Jul 10, 2008 at 11:58 AM
    #25
    Okkine

    Okkine [OP] Well-Known Member

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    It's funny, That's why Canada changed to the metric system in the first place, the US had planned on changing, and they figured it would be easier if both countries stayed on the same system. Then the US decided not to make the switch.


    Angus: Good point on the tax on the down payment. I never thought about that. Question: Do we still have to pay for going over the 24000Km/year if we buy out the vehicle at the end?
     
  6. Jul 11, 2008 at 5:16 AM
    #26
    Angus_NB

    Angus_NB Well-Known Member

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    No you don't pay, if you buy it out Toyota doesn't check the truck at all.
    You can also sell it which is essentially the same as buying it out. If you sell it there is a fee to transfer the truck from you/Toyota to the new owner. For me the fee is $400.00.
    The dealer won't tell you about the security deposit as apposed to a down payment. They would rather you gave them the money instead of lending to them.
    Another thing, when I leased mine I thought extending the 3 year comprehensive warranty for 1 more year would be a good idea. That way I would be covered for the whole 4 year lease. The dealer told be that the extended warranty was exactly the same as the original 3 year warranty. Surprise, they lied. The extended warranty does not cover TSBs, mud flaps and God knows how many other things. I'm sure the list of what it does cover is shorter than the list of what it doesn't. It was about $600.00 and since I'm selling the truck a year before the end of the lease it will probably be a selling feature but overall it's not worth buying.

    genxer; The kilometers thing is no problem but the high price thing is. A DC TRD Sport is about $8000.00 more here than it is in the US. My next Tacoma will be a US truck.
    Canada is really only partially metric. We still calculate mileage as Miles Per Gallon (imperial gallon). The construction industry still uses inches, feet, pounds. A 2x4 is still a 2x4.
     
  7. Jul 11, 2008 at 7:57 AM
    #27
    genxer36

    genxer36 Lord of Tomfoolery

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    Yeah, Wow! I would cross the border also to buy a truck for an $8000 savings.

    Here in the US we should invade Mexico and take over. There isn't anyone left to defend the country. They are all over here. LOL

    If you have ever noticed a 2x4 technically is not a 2 x4. It is 1 1/2" x 3 1/2". We are getting jipped. LoL
     
  8. Jul 12, 2008 at 6:13 AM
    #28
    Angus_NB

    Angus_NB Well-Known Member

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    I plan to have a new Tacoma brought up from the US around the middle of August. That would be a hint to you Okkine. :)
     

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