Who here leased their 3rd gen?

Ask them what money factor and residual they are using. I can guarantee they are bumping the money factor up to make more off of you.

 

I just leased my 2019 Tacoma TRD Off Road - $260 a month. The residual value will be ~$28,000 after 3 years and at the rate I'm driving it, it will like be worth around $33,000 or so based on KBB lookups on similar mileage/years. I'll definitely buy it at that time and either keep it or sell it for the profit and get another Taco or potentially the new Ford Ranger (depending on how it performs over the next few years).

As long as you get the lowest money factor and you have excellent credit, the value in the truck after 3 years should cover the lease payments I made.

 

So the $525 includes all the taxes and license costs as well. Is that where the discrepancy is?

 

If you get to $525 after TTL from a base of $350 your state has some fucked up taxes lol

my TTL is like $30 bucks a month not $200

 

Never leased a vehicle before... The number sounded reasonable for a truck that nice.

 

I got numbers... MSRP $39k, Residual $77% ($29k), and Money Factor .00321 for a payment of $520.

 

Tacomas lease incredibly well due to high residuals, I would spend some time reading and browsing https://leasehackr.com/ lots of good calculators out there to https://leasehackr.com/calculator/ money factor and residual info here https://forums.edmunds.com/discussion/49352/toyota/tacoma/2018-toyota-tacoma-lease-deals-and-prices

 

Money factor is the killer .00321 is brutal. Hell at that rate you are almost better off shopping for a low interest 72 month loan and just buying the truck

 

And I have really good credit...

 

For reference I am highest tier credit in TFS and my moneyfactor was .00225 or thereabouts. even that sucks in all honesty but using TFS was the only way I could get the deal done

 

Also, keep in mind you do not have to pay MSRP on a lease. That can be negotiated the same as a sale, many people don't know this. Do NOT lease for full MSRP, and check Toyota.com for any rebates, Do NOT lose out on Toyota provided rebates.

 

Right... They came down to $37K.

 

Ask on edmunds what the moner factor should be for your region. It was .00235 last month so that seems really high for this month. That’s 7.7% interest.

 

Speaking about interest rates any of you guys know what the rate is if you buy say 60 to 72 mos. I'm in NY and buying I want to say is between 3 and 4 % which I thought was really high, checked Toyota Financial and my Credit union. I'm just using advertisements from both I haven't actually applied for financing

 

I’m in NY and in September when I bought my truck I could have gotten 2.9% for 72mo. I have tier 1 credit, I never checked anyone else besides TFS just to see what they’d offer, I knew I was leasing so I was more curious to just know.

 

Same here, lease to own! Got the mod bug like crazy, but I gotta slow down haha!

 

2018 ORLB leased at $355 a month including taxes.
At $500 a month, you need to create competition between dealers. They will quickly drop the price. Tell them you called another dealership and they are at 375 with negative equity rolled in. Watch how fast they match it. Dealers play dirty, so definitely create competition. On my wife’s Jeep, one dealer said they couldn’t lease it for less than $570. We left. Discussed with another and they started at $440 for a better model. Told original dealer they were at $420. They then said they can do $420 if we come in that night, this is after telling me they couldn’t do under $570. Dealerships have no problem taking advantage of you or the 75 year old grandma that may be there as well. CREATE COMPETITION!!
My second piece of advice is always check the residual purchase price to make sure you’ll have equity or at a minimum not be in a negative equity position at the end of the lease. That way if you go over on miles, you can trade in, purchase or sell private party.

 

Miraculously... the salesman misquoted my money factor. Its still higher than yalls because my credit is Tier 2 (by what I think would be a small enough margin to bump me up based on my debt to income ratio...), but it came down to .00280. Tier 1 he said was .00235 iirc. I didn't write it down.

 

Even at the .00280 money factor your payment should have been around 430 before tax and negative equity with the small discount they gave you. I would ask for at least 10% off MSRP and more on the trade, tell them if they want to make a deal they need to erase that negative equity.

 

The payment came down as well to match the new money factor. Its $496 now. I have a feeling they were just trying to pull one over on me.