Need advice about leasing

Toyhauler · 07-24-2008, 06:22 PM

Hey guys/gals I need some tips on how to lease an 08 tacoma access cab prerunner and get a good deal. I think that a lot of people lease cars and only look at their monthly payments as a factor, but there has got to be more than that correct?

I feel that I am actually pretty good at buying cars. My last couple of cars, I bought brand new and after talking to several people, I have gotten one of the best pricing that anyone can get without know an insider.

So my question to you veterans is, how do I got about negotiating a lease?

Do I do it the same way that I do with a car?

Meaning that I will first negotiate a OTD price (or selling price) and then tell them that I am interested in leasing?

I know that some dealerships offer "specials" on leases, but can do specials be lowered or is it pretty much fixed?

Again, I have never leased a car before, neither has anybody in my household, so I am completely new to it.

Thanks

chris4x4 · 07-24-2008, 06:25 PM

Welcome to TW!

DONT LEASE!

TheMaster · 07-24-2008, 06:25 PM

Where are you located and what is the lease rate?

TheMaster · 07-24-2008, 06:26 PM

Quote:

Originally Posted by chris4x4

DONT LEASE!

I disagree.

Toyhauler · 07-24-2008, 06:28 PM

Quote:

Originally Posted by TheMaster

I disagree.

True, if you plan on keeping the car you buy for atleast 5 years. I on the other hand have the tendancies to buy a car and sell it after two years. Based on my calculations, I think it would be better for me to lease instead of buy, right? Unless I'm missing something, please let me know.

Toyhauler · 07-24-2008, 06:29 PM

Quote:

Originally Posted by TheMaster

Where are you located and what is the lease rate?

I'm in SoCal. Not sure what the lease rate is here or honestly, don't really know what a lease rate is haha. I'm so used to just buying a car, but have now realize that it would be better for me just to lease.

BTW when do the 09's hit the showroom, maybe I can get a good deal when that happens.

WilsonTheDog · 07-24-2008, 06:31 PM

^That would be the ideal lease situation. I should probably lease, too, because I seem to buy every two years but this time I'm glad I didn't because I have a child due in Oct and I'll probably end up with this truck for quite a while. So, you have to take life changes into account, too.

Check this out: http://clarkhoward.com/shownotes/category/5/28/ Clark is a financial wizard in case you aren't familiar with is radio show.

chris4x4 · 07-24-2008, 06:31 PM

Quote:

Originally Posted by TheMaster

I disagree.

Ah. Your in Canada, right? I heard its better to lease up there. I have heard nothing but horror stories about leaseing.

tacomaman06 · 07-24-2008, 06:32 PM

me personally, i wont ever lease again. but my word of advice to you is this, and you probably already know....but never go into a lease and have alotta negative equity in whatever you are trading in or whatever. bad,bad way to to.....i know from experience. other than that, if you are gonna trade every 2 or 3 years, then go ahead. but if you are gonna want to keep the vehicle for a good length of time do not lease....just buy outright......cause leasing is like renting something, then you got a big chunk at the end that you will have to make payments on if you then decide to buy outta the lease.

TheMaster · 07-24-2008, 06:32 PM

Quote:

Originally Posted by Toyhauler

Meaning that I will first negotiate a OTD price (or selling price) and then tell them that I am interested in leasing?

Yes, you've got the idea. Negotiate as if you are purchasing and then switch however you must clarify the interest rate difference between purchase financing and lease financing. Normally, lease financing is higher.

Ridgerunner · 07-24-2008, 06:39 PM

Pride of Ownership I say!! Leasing is RENTING!!! Take Tacomaman06's wisdom of personal experience into consideration please! He was one unhappy cat with that deal

IMO own your ride! It's a better satisfaction too-there's some of that.

jhodge83 · 07-24-2008, 06:41 PM

Quote:

Originally Posted by Toyhauler

BTW when do the 09's hit the showroom, maybe I can get a good deal when that happens.

my 09 is already being modded for the trails. people in the southeast have had them for weeks

chris4x4 · 07-24-2008, 06:47 PM

Quote:

Originally Posted by ridgerunner

pride of ownership i say!! Leasing is renting!!! Take tacomaman06's wisdom of personal experience into consideration please! He was one unhappy cat with that deal

imo own your ride! It's a better satisfaction too-there's some of that.

amen!!!! :d

TheMaster · 07-24-2008, 06:50 PM

Quote:

Originally Posted by Toyhauler

I'm in SoCal. Not sure what the lease rate is here or honestly, don't really know what a lease rate is haha.

The lease rate is the same as the interest rate used to calculate purchase financing. Lease rate is used to calculate lease financing. Dont walk in and tell them you want to lease a vehicle and your monthly payment budget is $XXX. Beat them down as if you want to do an out right purchase and when you are satisfied with the purchase price, convert it to a lease. You might piss of the sales guys but its your money and not theirs. If you run a business, your lease payments may be a tax write off.

With rising gas prices, leases are a prudent choice for trucks since you cannot predict depreciation value of gas guzzlers the way gas prices keep rising. Also, alternate fuel vehicles should start coming out over the next little while further affecting resale value of gasoline vehicles. It may be the best time to lease due to these conditions.

TheMaster · 07-24-2008, 06:55 PM

Quote:

Originally Posted by Ridgerunner

Pride of Ownership I say!! Leasing is RENTING!!!

I disagree again. If you really love the vehicle at end of lease, you can opt to buy it out. You still have pride of ownership even if you are leasing it since its your vehicle for that period.

Ridgerunner · 07-24-2008, 07:07 PM

Quote:

Originally Posted by TheMaster

I disagree again. If you really love the vehicle at end of lease, you can opt to buy it out. You still have pride of ownership even if you are leasing it since its your vehicle for that period.

I got you

it's just my feeling, my opinion. I personally wouldnt enjoy my truck knowing it really was somebody else's truck and not mine, that's all. my view on leasing is it is mainly effective for company fleets, or some of these folks who dont care about pride of ownership-they just wanna use the car like a dishrag then turn it in for another!!

chris4x4 · 07-24-2008, 07:10 PM

With a lease, you never build equity in the vehicle. You are esentially "renting" the vehicle. Yes, you will never end up "up side down" on the vehicle, but If you have a decent interest rate on a Tacoma, odds are in 2.5 years, you will have some equity. For a business owner (at leaset in my state) you can write off 60% of the depriciation in the first year when you are buying the vehicle. There are also mileage restrictions in a lease. If you go over, you are charged accordingly. Any modifications you do can adversly affect the value at the end of the lease as wel.

chris4x4 · 07-24-2008, 07:11 PM

Quote:

Originally Posted by TheMaster

I disagree again. If you really love the vehicle at end of lease, you can opt to buy it out. You still have pride of ownership even if you are leasing it since its your vehicle for that period.

Well, pride of renting anyway.

07-24-2008, 06:22 PM	#1
Toyhauler Member Joined: Jul 2008, #8116 Location: SoCal Posts: 50 08 PreRunner TRD Sport	Need advice about leasing Hey guys/gals I need some tips on how to lease an 08 tacoma access cab prerunner and get a good deal. I think that a lot of people lease cars and only look at their monthly payments as a factor, but there has got to be more than that correct? I feel that I am actually pretty good at buying cars. My last couple of cars, I bought brand new and after talking to several people, I have gotten one of the best pricing that anyone can get without know an insider. So my question to you veterans is, how do I got about negotiating a lease? Do I do it the same way that I do with a car? Meaning that I will first negotiate a OTD price (or selling price) and then tell them that I am interested in leasing? I know that some dealerships offer "specials" on leases, but can do specials be lowered or is it pretty much fixed? Again, I have never leased a car before, neither has anybody in my household, so I am completely new to it. Thanks

07-24-2008, 06:25 PM	#2
chris4x4 Western Alliance: no longer dead. Joined: May 2008, #6497 Location: Tempe ,Az Posts: 3,331 2007 PreRunner 2007 Double Cab Automatic 1GR-FE (4.0 V6) OME 885's, OME shocks, Total Chaos UCA's, TSB springs with AAL, 5100 rear shocks, custom built fuel tank skid plate	Welcome to TW! DONT LEASE! __________________ The simplest solutions are often the most clever..............they are also usually wrong.

07-24-2008, 06:25 PM	#3
TheMaster The Enforcer Joined: Oct 2006, #112 Location: Land of No Specific Enemy Posts: 2,702 2007 DC TRD Sport 2007 Double Cab Automatic Its a Toyota ;-) Bug shield, window visors, skid plate, rust proofing, tonneau cover, paint & upholstery protection, side step bars, navigation system.	Where are you located and what is the lease rate? __________________ "My honour is more valuable than my commission".

07-24-2008, 06:32 PM	#9
tacomaman06 Carolina Alliance: Redneck Division Joined: May 2007, #1475 Location: rock hill, sc Age: 29 Posts: 9,186 04 trd tacoma 4x4 v6 double cab 2004 Double Cab Automatic 3.4 v6 vent visors,deck plate mod, gray wire mod, black steelies and emblems, mag-lite mod, wheelers/ome suspension, stainless brake lines....still to come.... afe pro dry s filter..........plus many,many more!!	me personally, i wont ever lease again. but my word of advice to you is this, and you probably already know....but never go into a lease and have alotta negative equity in whatever you are trading in or whatever. bad,bad way to to.....i know from experience. other than that, if you are gonna trade every 2 or 3 years, then go ahead. but if you are gonna want to keep the vehicle for a good length of time do not lease....just buy outright......cause leasing is like renting something, then you got a big chunk at the end that you will have to make payments on if you then decide to buy outta the lease. __________________ i am WILL--my ride=04 tacoma trd 4x4 double cab, v6, auto,deck plate mod, grey wire mod, billy 5100's all the way around,black low-pro uws toolbox, black steelies,blacked out emblems, mag light mod,wheelers/alcan springs, ome 881 coils, braided stainless brake lines, polyurethane bushings,soon to come....15 inch wheelers steelies and gy wrangler mtr's!!! http://s202.photobucket.com/albums/aa269/tacomaman06/ www.myspace.com/goodolboy1979

07-24-2008, 06:39 PM	#11
Ridgerunner Western Alliance: NorCal Joined: Mar 2008, #5269 Age: 47 Posts: 1,511 2001 prerunner doublecab limited 2001 Double Cab Automatic 3.4 V6 2001 with; cat-back twin exhaust,bullbar with hella 550's, camper shell, TRD off-road 2x4-black beauty.	Pride of Ownership I say!! Leasing is RENTING!!! Take Tacomaman06's wisdom of personal experience into consideration please! He was one unhappy cat with that deal IMO own your ride! It's a better satisfaction too-there's some of that. __________________

07-24-2008, 06:31 PM	#7
WilsonTheDog Softball God Joined: Nov 2007, #3496 Location: Murrells Inlet SC Posts: 1,159 07 Prerunner SR5 DC/SB V6 2007 Double Cab Automatic 4.0 V6 Magnaflow 12576 muffler & chrome tip, Westin step bars, Firestone Destination A/T 265/75/16, stubbie antenna, 27% tint, Pop N Lock, Valeo Ultimate wipers, AFE filter, bed mat, Husky liners	^That would be the ideal lease situation. I should probably lease, too, because I seem to buy every two years but this time I'm glad I didn't because I have a child due in Oct and I'll probably end up with this truck for quite a while. So, you have to take life changes into account, too. Check this out: http://clarkhoward.com/shownotes/category/5/28/ Clark is a financial wizard in case you aren't familiar with is radio show.

07-24-2008, 07:10 PM	#17
chris4x4 Western Alliance: no longer dead. Joined: May 2008, #6497 Location: Tempe ,Az Posts: 3,331 2007 PreRunner 2007 Double Cab Automatic 1GR-FE (4.0 V6) OME 885's, OME shocks, Total Chaos UCA's, TSB springs with AAL, 5100 rear shocks, custom built fuel tank skid plate	With a lease, you never build equity in the vehicle. You are esentially "renting" the vehicle. Yes, you will never end up "up side down" on the vehicle, but If you have a decent interest rate on a Tacoma, odds are in 2.5 years, you will have some equity. For a business owner (at leaset in my state) you can write off 60% of the depriciation in the first year when you are buying the vehicle. There are also mileage restrictions in a lease. If you go over, you are charged accordingly. Any modifications you do can adversly affect the value at the end of the lease as wel. __________________ The simplest solutions are often the most clever..............they are also usually wrong.

07-24-2008, 07:17 PM	#19
TheMaster The Enforcer Joined: Oct 2006, #112 Location: Land of No Specific Enemy Posts: 2,702