Tacoma Leasing Now?

Toyota raised the residual value...I think they set my '14 at about 55% on 36 months, my '17 is more like 70%. I could be off on those percentages. But that ate up a lot of the savings. Current payments are just more than $100/month less than before. And I still believe that that reside value will lower than the mkt value in another 24 months.

 

I leased a 16 SR5 for 2 years. It was $34,555 and my buyout is 22k. not buying it out only because I want to drive off with another new one. (even though I will never see 10k miles. it 2 days it will be a year old and just went over 4k)

 

If the buyout is even what that will give you on trade in you'll at least save the tax on your next lease.

 

Yep, same here, but in my case I bought it because the miles per year that I drive makes Lease higher than the purchase option. I guess that if not for this, maybe I had opted for a lease.

 

I leased it for about a year and purchased it a few months ago. Good decision for me. Got in the door for a reasonable price, had cheap monthly payments for a year or so, and then had a minor payment increase (but now I own it)

 

Sounds like yo got the best of both options...

 

Just have to be strategic

 

I got mine for $253(taxes included) per month, $2000 down, 18000 miles per Year. It's a DCSB SR5.

 

yeah I trade every two and would love to lease but at 33k per year miles no chance!!

 

The thing with the tacoma is the buyout would still likely be lower than the trade in value with 66k miles on it.

 

especially when you add in the .20 per mile for all miles over 36k.

 

If you buy it out you can have 200k on it, no penalties. They charge you per additional miles because the buyout is based on the value of the vehicle with x amount of miles. If you buy it out they couldn't care less how many miles are on it.

 

I agree. I was just saying for me the lease is worthless because my miles so just pay for the truck use it and sale or trade it in 2 years or keep it as long as I want before trading. I have found with 66k in two years it never really gets better so trade and don't worry about major components going out after warranty.

 

That works as well.

 

Anybody leasing an OR SB willing to share their monthly payment? I'm looking into one and would love to know what to expect before going into dealers. Feel free to PM

 

Depends on if you got 4x4 or not. I'd expect around $450 or so with 4k down

 

First post. Hello everybody.

I'm still a bit confused on leasing. Is it better if you're a low mileage driver or higher mileage driver? I average about 6k/yr. I prefer to buy my next vehicle, Tacoma obviously, but after reading this I'm wondering about the lease option as well. Quite a few questions....

1 How does the buy back work? I'm interested in a TRD Off-Road, so does lower mileage on a lease help me out with the buy back?

2 What about a larger amount for signing? Is it better to put down more money?

3 Do you still get to pick the vehicle you want or settle for what they have in stock?

4 What happens at the end of the lease and you want to keep the same vehicle? Is there another minimum down payment to purchase the vehicle? Is the buy back price the difference of the new car price to what I've paid over three years (hence asking about the larger signing amount).

Sorry for all the questions. I'm somewhat in the position to put down a down payment for a Tacoma, but don't mind paying a little more in the long run to keep a low monthly payment as I would plan on keeping the truck for a long time. Good thing is time's on my side, especially with the '18s just around the corner.

Thanks again everybody.

 

The buyout is called residule value. This is calculated when you purchase the truck.

For simplicity I'll use nice even, round numbers.

Tacoma costs $30,000
Guaranteed price to purchase at end of lease term is $20,000

You pay $10,000 over the duration of your lease.

If you put more money down it just lowers your payment. Ie the purchase price of the truck. So instead of $30,000 with $5,000 it would be $25,000 with a buyout of still $20,000. So you only be making payments on $5,000.

 

Ok, going by your numbers, I'm only going to be able to lower my lease payment for three years. A larger signing amount won't be applied to the truck if I decide to buy it at the end of the lease? Is this where low mileage helps out at the end of the lease?

 

If you sign a 10k mile a year lease and you don't drive it a mile the buyout doesn't change. Nothing changes the buyout amount. (Well if you go over mileage amount and turn it in, you'll pay for that) If you put money down, it'll come off the price at time of leasing, lowering your payment. Basically on a lease you finance (pay for) the depreciated amount of the truck. This is set by the buyout amount, this buyout amount is given to you from day 1.

Now if you go over the mileage when lease is up, you pay a set amount per mile over the agreed amount of miles. However if you buy it out there would be no penalty. Basically because toyota is getting the amount they set for the value of the vehicle.