'16 Lease Residuals (not for everyone, I know)

Mileage is a moot point if you're buying your lease at the end or trading.

 

$350 a month with 2k down? Not even at 12k per year. The 70% residual is for a 2 year 24k lease. Let's assume the residual is actually 70% of that MSRP, which comes out to $26,425. That's $10,300 over 24 months, minus your 2k, so $8300.....over 24 months THAT's 350 per month.

Now add in the MF, tax, tag, title, registration, documentation, acquisition, the additional miles!!!!!!!

Oh and guess what, that 70% isn't of the full MSRP. It's of the base msrp, plus small adds for options.

Make a long story short.....start looking at a Yaris.

 

Hey all. With the new year i'm assuming that things may of changed, does anyone happen to know what the current money factor and residuals are?

Thanks

 

Current standard money factor for credit 720+ is .00190

 

OK, maybe someone can help here on where they think i should realistically be at on a vehicle priced at $37,308. Never really could make much sense with the online lease calculators. This will be my fourth vehicle financed thru Southeast Toyota and currently am financing thru them and thus far I have a great track record with them as I have read in this thread that the money factor goes down when you have financed with them previously. Curious to see if the number I came up with is accurate.

 

need more info, residual$, money factor, taxes and other fees

 

It will be for a 2016 Tacoma Sport 4x4, tax here in SC is moot since we do not pay tax when purchasing the vehicle as we pay the state a yearly property tax bill and tax will have to be paid at the tax office not the dealer (hate that!), I thought I saw somewhere else on this thread that if you are currently financing thru Toyota that the MF is .018. Trying to check to see if what I am figuring is correct. Realistically I am only going in with my first months payment as I never put down more than that on a leased vehicle. My thinking is should I pull out of the dealer and total it I am now out that down payment since the vehicle is covered by GAP regardless.

 

Probably 350-450 depending on actual negotiated cost, residual and money factor with first month's payment and any fees (acquisition, dealer, etc) up front.

 

You'd be in the $550 to $600 range with just the first payment.

 

This is more in line what I was figuring. I guess it will depend on how aggressive the dealer is and how bad they want the deal. I know on my wifes 7 pass Santa Fe the sticker was around 42K I negotiated a 36 month lease at $400 a month with nothing more than the first months out of pocket and the residuals on those are no where near the Tacoma. It took me getting up to walk away almost three times but they gave me the deal. I figured the Tacoma would run me about $425-$450 max. Just wanted to see if my thinking was correct. I have about 4 or 5 dealers locally and a couple not too far away and I know I can always put them up against one another to make sure I am getting a fair deal. Thanks for the input thus far.

 

This link below ought to help you guys figure out monthly payment. Only out of pocket cost should be for first month's rent and $650 acquisition fee if you want to include that. Never put money down (other than for 1st month's payment), always negotiate the purchase price, and do not focus on monthly payment. You can also buy down the rate with what's called multiple security deposit (MSD), max is 9 thru TFS. You'll get all that back at the end of the lease.

MSD example - Your monthly payment is $340, money factor is 0.0019. You want to buy down the rate nine times, each MSD reduces the money factor by 0.00008. So your new MF rate is 0.00118 (2.832% interest). The buydown costs you $350 x 9 = $3150. You'll get this money back when you turn in your vehicle minus any damages or over your mileage allocation. If you lease for 24 months, buying down the rate will save you around $1500 in interest payments.

Negotiable:

• Purchase price of truck
• Dealer add-ons
• Dealer fees
• Back office upsell (warranty, gap coverage, tire protection, paint protection, etc. -> JUST SAY NO to these)

Non-negotiable:

• Money Factor (Standard for Tacoma is 0.0019 = 4.832%, multiply 0.0019 x 2400 to get interest rate)
• Residual (set by mfg) see attachment

www.ridewithg.com/calculator

 

This number may be true but using your old lease on a Hyundai has very little to do with a Tacoma lease. Use the calculator. Not sure anybody here is going to do anything different than that. Put in your length and price and mf and that's it

 

The problem is the MF, it's very very high at .0019. Hyundai leases are probably significantly subvented. The MF was probably less than half that rate. Some are as low as .00001. You can't "negotiate" the MF, you can however do a multiple security deposit. Each deposit is equal to the payment rounded up to the nearest $25. Each one lowers the MF by .00008. I believe the max you can do is 9, which would bring the MF down to .00118. Still not great, but better.

I'd be shocked if the payment was below $550 with just first payment out of pocket.

 

My fiancee leased a 2016 4runner SR5 Premium in October -- term was 36 months, negotiated purchase price of vehicle was about $1000 under invoice. She has perfect credit thus qualified for the lowest MF available at the time. Her payment is about 470 per month. The only money down was first month's payment.

 

Money factor went up across the board for all regions, maybe not SET or GSS. Probably had something to do with this discrimination fine. Decided against leasing when the rate to purchase is 1.49% for me, ymmv.

 

Does anyone know if/how Toyota residualizes dealer/factory installed accessories? I.e. steps, tonneau, roof rack, etc.

Do they get the full lease residual applied, some reduced "residual adder", or nothing at all?

 

If i had to guess.... Options/Accessories are added into the MSRP, and residual is calculated from MSRP, so full value? My dealer told me residual for my SR5 with DN and CF was 71% and he gave me a residual value after 36m/12k at $23,273, which was bang on for 71%.

But then again, i havn't had my coffee yet.

 

Sorry to revive a somewhat dead thread.

I went into a local dealer to make a deal/run some numbers on a new tacoma.

The fellow running the numbers looked at me like I was stupid when I asked about multiple security deposits. Are these something that all dealers allow?

If so, are the rates still .00008 per MSD? IE if I purchased the maximum (9) MSD's with Tier 1+ MF of .002, I should have an effective MF of .00128, correct? With a total security deposit of 10x my monthly payment?

 

Dealers don't like them

 

It's literally just another box on the worksheet, then they have to send the MSD funds to TFS (just like they would if you did cap cost reduction, which they probably do all the time). If the lease is through TFS, MSDs are allowed; it doesn't have anything to do with the dealer. If the finance person doesn't know how to deal with them, tell them to learn and get back to you.

On my BMW lease, they didn't even blink an eye when I said I'm doing max MSDs. But most BMWs are leased, and MSDs are very common on luxury cars (wealthy people usually got that way because they understand the power of compound interest). Toyota is the only non-luxury make that offers MSDs, and I don't think most of their customers or finance people are savvy about them. But MSDs=free money, so press the issue if you must.