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Old 10-27-2010, 01:53 PM   #21
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Originally Posted by MAXTacoma View Post
I leased my truck with no regrets, it gives me lower payments while I'm in school. I pay 345 per month for 5 years, w/ 3k down. After my lease my buyout is 10k. If you factor out my whole payments w/ down payment and buyout I think my interest rate is close to 6%. I did lease mine true Toyota Motor Credit and have heard lots a good things about there finance department. I only leased mine knowing that I would pay cash for it at the end of the lease. I refuse to pay on a car longer the 60 months.
Not bad. So they tell you when you sign how much the buyout will be?

Also, at anytime during those first years while leasing can you choose to buy it then? Or you have to wait for the lease to end?
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Old 10-27-2010, 01:57 PM   #23
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Not bad. So they tell you when you sign how much the buyout will be?

Also, at anytime during those first years while leasing can you choose to buy it then? Or you have to wait for the lease to end?
Yeah when you do the numbers they tell you the buyout for the end of your lease. At anytime I can go online and get my buyout and buy the truck. And if you plan on buying it at the end of your lease then you dont have to worry about millage. The only time you have to worry about going over miles is if you turn it in at the end of the lease.
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Old 10-27-2010, 01:59 PM   #24
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Originally Posted by jdkeller View Post
Did you put anything down?
Yes, $3,500.

I also got ripped off by the dealer. Paid $500 for XM, and another $500 for remote start.
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Old 10-27-2010, 02:02 PM   #25
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Originally Posted by MAXTacoma View Post
Yeah when you do the numbers they tell you the buyout for the end of your lease. At anytime I can go online and get my buyout and buy the truck. And if you plan on buying it at the end of your lease then you dont have to worry about millage. The only time you have to worry about going over miles is if you turn it in at the end of the lease.
Well that's good to know.
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Originally Posted by Yesterdayz View Post
Yes, $3,500.

I also got ripped off by the dealer. Paid $500 for XM, and another $500 for remote start.
I'm surprised. People either have a terrible experience or a good experience. That's not really helping. haha
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Old 10-27-2010, 02:19 PM   #26
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Originally Posted by jdkeller View Post
What are the pros and cons of doing this?

A dealer I was at the other night said:
  • There is no interest while leasing.
  • All money goes straight toward the price of the vehicle.
  • If after the miles/years are up I can decide to buy for the leftover amount.
  • If I decide to buy there continues to be no interest.
What is true?

There has to be a catch since this is way better than just buying it from the start. I have never leased before. Set me straight. Thanks

First get EVERYTHING IN WRITING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!

2nd, leasing is the WORST finantial decision any one can make!!! PERIOD!! Your not a busness. This applies even if you want to get a new vehicle every couple years!!!!

3rd, when you lease, you are renting the truck. Say a 30,000 truck. at the end of the lease you can buy it. make sure they tell you IN WRITING exactly, let me say that again, EXACTLY, what the purchase price will be. then do some math. if they say (for example) 27,000, and your lease payment a month is 100 for 3 years, you just spent 3,600 in lease payments. 30K minus 27K is 3,000 less, but you payed 3,600....now how can they say ALL of your money went to the principle???

4th, keep this in mind...are you negoteating a price to START with? meaning, are you negotiating a 30K truck lower AND THEN figureing a lease price that will apply to the principle??? or are you going to have to go with sticker, then apply any/all lease payments to principle??? If so, your getting screwed!!!

these are questions you need to ask them!!!!

In general, without hesitation, leaseing is the dumbest, most waistful thing you can do whan it comes to a vehicle and finacing.


Also, go to a bank and get the loan from them...you will get a better interest rate then at the dealer!!! there is a thing dealers do, it's called BACK DOOR FINANCING. They get you approved for X amount interest from a bank, then tack on more interest for themselves!!!!
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Old 10-27-2010, 02:22 PM   #27
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First get EVERYTHING IN WRITING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!

2nd, leasing is the WORST finantial decision any one can make!!! PERIOD!! Your not a busness. This applies even if you want to get a new vehicle every couple years!!!!

3rd, when you lease, you are renting the truck. Say a 30,000 truck. at the end of the lease you can buy it. make sure they tell you IN WRITING exactly, let me say that again, EXACTLY, what the purchase price will be. then do some math. if they say (for example) 27,000, and your lease payment a month is 100 for 3 years, you just spent 3,600 in lease payments. 30K minus 27K is 3,000 less, but you payed 3,600....now how can they say ALL of your money went to the principle???

4th, keep this in mind...are you negoteating a price to START with? meaning, are you negotiating a 30K truck lower AND THEN figureing a lease price that will apply to the principle??? or are you going to have to go with sticker, then apply any/all lease payments to principle??? If so, your getting screwed!!!

these are questions you need to ask them!!!!

In general, without hesitation, leaseing is the dumbest, most waistful thing you can do whan it comes to a vehicle and finacing.


Also, go to a bank and get the loan from them...you will get a better interest rate then at the dealer!!! there is a thing dealers do, it's called BACK DOOR FINANCING. They get you approved for X amount interest from a bank, then tack on more interest for themselves!!!!
Thanks for the input. I would definitely make sure of everything beforehand. So is financing through toyota bad?
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Old 10-27-2010, 02:35 PM   #28
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I have the feeling that some people have had really bad experiences or have heard from people who have had bad experiences leasing. I'm the third one on my family to have leased. 2 From Toyota Motor Credit, the third for 5/3 leasing. The ones from Toyota Motor credit have been great with no problems at all. We nogotiated the price of the truck, then came up with a payment/buy-out/downpayment. They came back with about 6 different sets of down payments,monthly payments, and buy-outs. I was ready to leave when they came and got me with my current payments/down payment/buy-out. As many have said its like renting, but that is only if you dont plan on buying it at the end of the lease. I know 100% that I'm buying my truck after my lease is over. I plan on paying cash for it as I refuse to pay more that 60 months for a vehical. It really just depends on if you are going to buy it at the end of the lease as to if you can go over your miles/mods. Mods/miles/condition doesn't matter if you buy it at the end of the lease. I know some dealerships lover to screw people with leases, mine fortunatly was great, everything was upfront and easy to understand w/ no fine print. If you do lease make sure you go thru Toyota Motor Credit, they dont try to screw you w/ fine print or anything like that. Everything is very clear.
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Old 10-27-2010, 02:41 PM   #29
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Originally Posted by MAXTacoma View Post
I have the feeling that some people have had really bad experiences or have heard from people who have had bad experiences leasing. I'm the third one on my family to have leased. 2 From Toyota Motor Credit, the third for 5/3 leasing. The ones from Toyota Motor credit have been great with no problems at all. We nogotiated the price of the truck, then came up with a payment/buy-out/downpayment. They came back with about 6 different sets of down payments,monthly payments, and buy-outs. I was ready to leave when they came and got me with my current payments/down payment/buy-out. As many have said its like renting, but that is only if you dont plan on buying it at the end of the lease. I know 100% that I'm buying my truck after my lease is over. I plan on paying cash for it as I refuse to pay more that 60 months for a vehical. It really just depends on if you are going to buy it at the end of the lease as to if you can go over your miles/mods. Mods/miles/condition doesn't matter if you buy it at the end of the lease. I know some dealerships lover to screw people with leases, mine fortunatly was great, everything was upfront and easy to understand w/ no fine print. If you do lease make sure you go thru Toyota Motor Credit, they dont try to screw you w/ fine print or anything like that. Everything is very clear.
Thanks. I was ruling it out but I will look into it once again.
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Old 10-27-2010, 02:43 PM   #30
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Thanks. I was ruling it out but I will look into it once again.
I think its worth a second look, GL w/ your choice.
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Old 10-27-2010, 02:47 PM   #32
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Originally Posted by jdkeller View Post
Oh and get this,

They say, "C'mon this is a good deal. Either buying or leasing. It's late. I've only sold 3 vehicles today. If you buy it I only get $50 and the salesman gets his $25"

Mind you this is the sales manager I'm at the desk with. And 5 minutes earlier I had asked him what the salesmen make for a base. He said no base, just commision. $25 a sale! bwahahahahahah. You gotta sell 6 vehicles/day just to make a decent living! What a joke. I was literally laughing the whole time. But he was too dumb to realize I was laughing at him. Because he was laughing back.
if that guy would have already sold 3 cars that day, he would of went home early lol
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Old 10-27-2010, 02:48 PM   #33
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Thanks for the input. I would definitely make sure of everything beforehand. So is financing through toyota bad?
Toyota every now and then will have great financing deals going on especially on year end deals. If you can get these 0% thru 2.9% deals then go for it. If not, I have all of my vehicles financed thru my Credit Union....
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Old 10-27-2010, 02:48 PM   #34
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if that guy would have already sold 3 cars that day, he would of went home early lol
Im guessing he meant the whole place. But who knows. He seemed to be lying about a lot of stuff.
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Old 10-27-2010, 02:48 PM   #35
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The only way I would ever lease a vehicle is if it was business related and it was a tax write off. Go to a bank get approved then take that offer to the dealer and see if they will beat the interest rate the bank gave you. That's what I did and Toyota Credit beat what my credit union came up with so I went with them.
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Old 10-27-2010, 02:49 PM   #36
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Toyota every now and then will have great financing deals going on especially on year end deals. If you can get these 0% thru 2.9% deals then go for it. If not, I have all of my vehicles financed thru my Credit Union....
They have 2.9 right now on certified used. But I don't ever remember seeing 0% on tacomas.
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Old 10-27-2010, 09:36 PM   #37
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Thanks for the input. I would definitely make sure of everything beforehand. So is financing through toyota bad?

no, financeing threw Toyota is not " BAD "; but the dealership may still do the BACK DOOR FIANCING. You need to first get a loan approvle from a bank. That does not mean you actually took the money, it's just a pre-approvale. then compaire that interest rate ( the APY, that the only figure you want to know! ) to what you would get at the dealership. Obviosly go with the lowest amount.

Also to help you negotiate a price.....I bought a 2009, 4X4, TRD, access cab, V6, that came with a bed mat and daytime running lights (both were extra charges)....sticker was about 31,000 then with the factory discount that was on the sticker it was about 30,100 (give or take 50 or 60 bucks). I got them down to 27,400. It was 600 BELOW invoice. Trust me, the dealership still made somewere between 1500 and 200 because of other moneys that the manufacture either pays to the dealership or "discounts" off oth the invoice price. It's complicated to explain unless you know something about accounting and accounting practices, but they make more money per vehicle then they want you to know.

start off telling them you want their best price (you already know EXATLY WHAT YOU WANT including packages, and what the invoice price is). And AND AND tell them you are shopping around and are not in the mood to play games..."JUST GIVEE ME YOUR BEST PRICE. If another dealership is lower they get the sale, if your the lowest, you will"

Get them to print out the quote. Again, GET THEM TO PRINT OUT THE QUOTE!!! They WONT let you leave with it. So you need to be sneeky. Say "ask you manager if you will throw [oil changes, winter floor mat, tube of touch up paint, extra wiperblads] in." When he leaves take the paper PRINTOUT (WITH LETTERHEAD) quote and run!!! Now you have proof at the next dealership what the first quoted you on and get them to beat it.

Also DO NOT, DO NOT DO NOT!!!!!!! sign a damb thing, OR give them a down payment!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

When your ready to buy, that is the time and the only time!!!!! And this is a must.......PUT THE DOWN PAYMENT ON A CREDIT CARD!!!! This is if and only if your putting money down to secure the truck!!! But I don't recomend it, it's not necessary. If you sign the paperwork and need to return with the money because you got a loan from the bank, the dealership can not renig on it, because it is a writen contract and is enforcable.


hope that helps
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Old 10-28-2010, 09:57 AM   #38
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1) I am on my THIRD new Tacoma, all three LEASED... NO PROBLEMS at all (Toyota Financial). There is also NO DIFFERENCE in what you can do with the truck as far as basic mods or changes... it is the same as if you owned it. Just remember, at the end of the lease (mine is a 5 year lease) that you turn in or trade in your truck and you want the value to be high to go to your next truck... so don't do something stupid that would lower the value.

Also, there is NO mileage penalty IF you trade it for another Toyota. My first leased truck had 136,000 miles on it at the end of the 5 years... Traded it for my '05 with $1,000 down (to have a monthly payment I could handle)... had it for 4.5 years and 102,000 miles... Traded it for my '10 with NOTHING DOWN and the lease payments went up only $20! A new truck, only $20 more a month than the truck I was driving... I don't think you can beat that.

At the end of the lease, if you want to keep your truck, then you would need to buy it... so the past 5 years of lease payments don't count, but you will be buying a used truck that is cheaper then new.

Leasing is a great tool if you want a nice vehicle but don't have the down payment to give you lower monthly payments you can afford... also if you use the truck for your business (as I do), then the lease payment is deductable.
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Old 10-28-2010, 10:05 AM   #39
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my baby here is a lease


here is the truth leasing and buying are the same....
the only diff is how much you want to pay a month....
the most important part of a lease the buyout price at the end ...which you and him neg. at the lease singing
iif i bought mine it would have been almost $500 a month
my lease $298
my buyout is $16,980
thats the truth for me....
i had to leasse for other reasons.....
usally i buy...
but i am lovin the lease
ride it or sell it ...............................................
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Old 10-28-2010, 10:13 AM   #40
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The issue with a lease is that you are perpetually making payments. When you finance a truck..you OWN IT once you are done with your payments With a lease when you are done with your payment period..YOU DONT OWN it...you still have to buy it or lease another vehicle.

If you are cool with making payments forever..then maybe you should lease. I would personally want a vehicle thats paid for..especially with a tacoma which holds its value well at the end of my financing period I will have a vehicle that is still worth some money. I refuse to purchase brand new vehicles..I like to buy 1-2 year old vehicles and let someone else take the initial depreciation hit and pay the sales taxes and fees. In GA if you buy a used vehicle private party you don't have to pay sales tax on it. If after my financing period, I want to purchase a new vehicle again I could keep my current vehicle and have two vehicles or I could sell it (I also refuse to trade vehicles in when I can sell it on my own for more money) Then take that money and put it down on the purchase of the new(er) vehicle...lets say the tacoma is worth $10k after I pay it off. If I want to buy a new tacoma, I can put that 10k down on it and I only have to finance $15-20k which could mean taking a shorter loan term or having lower payments than I had before.
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