New 2019 on Lot since 3.19

Not upset with anyone personally, but it is irritating at the amount of misinformation and assumptions made here.

 

I would stay away from leasing to be honest. Unless. Like mentioned above, you own a business or are leasing a vehicle that you know would take a big hit of depreciation if purchased. Leasing may work for you, but I know for sure it didn't for me.

 

A lease makes sense on a BMW or Audi since they’re worth half after three years. Tacomas are the best resale valued vehicle on the road, so buying a Tacoma vs leasing often makes the most financial sense.

 

I see that as reversed. The BMW and Audi are lousy vehicles to lease, you’re paying for that big depreciation. Toyota’s depreciate less and therefore, their lease prices are less.

 

At this point it may be more advantageous to lease a 2020 than a 2019.

Lease residual values keep decreasing as time goes by, regardless of when the vehicle was actually sold. I.e., at this point a 2020 will have a higher residual than a 2019, this helping offset part of the monthly payments.

The dealer will have to offer some juicy upfront discounts on a 2019 relative to a 2020 to make leasing the older truck worthwhile.

Something to think about.

 

"If you can dodge a wrench. You can dodge the ball."

 

When you “lease/rent” your paying the difference between the vehicle selling price and the residual at the end of the “lease/rent” term plus interest and sales tax. Because resale value is so great on Tacoma’s the monthly payment is typically low but the purchase cost at the end of the “lease/rent” agreement is high.

 

You need to upgrade to Tacoma World Prime.

 

I looked at the residual for my lease, and all things equal, it should be worth more at 3 years than the residual due.

Unique circumstances this year, so a lease made the most sense right then.

I have been in a couple leases over the years, one was bad, and it cost us $$$ on the back end, the other was great, no money due at the end, turned it in and walked away, the residual was more than what the car was worth.

Normally I buy used to save the depreciation, but used low mile Tacoma’s are as much as new in this area, without the special financing, same with RAV4’s. We bought our 2018 RAV on 0.9%

Again, it just depends on the circumstances, but if I knew I was likely going to exceed the 12K miles a year, I would have bought and not leased the Tacoma.

 

But that’s a good thing, it means the residual is high and the lease is cheap.

 

Also you don’t get those miles back, so if you did a 3/36k lease, you’re getting 35500 miles.

 

I've never leased before but a truck with 500 miles sounds used to me. Negotiate for the best deal and good luck.

 

maybe it vibrates? Better drive it first.

 

This late in the year and the 2020 being out, you might be able to steal that from them at less than cost, they definitely are gonna want it on the lot much longer.

 

Resale is so good on these trucks I don't know why anybody would lease. I bought my truck used owned for nearly two years have 34k miles on it, and still get monthly calls from dealers to buy from me for over $30k. I only paid $33k.
Only lease a throw away vehicle, like a Prius, Ranger, Civic, or Colorado. Never lease a vehicle that holds long term value.

 

I bought my Taco... put $10k down and financed $21k for 5 years. Payment was around $400/month (I paid it off in 2 years). Point being.... $10k down and $400/month is not exactly “cheap”.

Now, if I don’t have $10k and can’t swing $600+ per month (bigger payment since no $$$ down), then the only way to get a new Taco “now” is to lease it.

That’s my understanding why people lease.... they can’t properly afford to buy the Vehicle, but they can afford to rent it. It’s also why so many leases are bmw, Mercedes, Audi, etc... stupid expensive cars that lose their value faster than investing in bitcoins.

 

This does hold true for some people as I see people living in a $250k house and driving an 80k vehicle. Those are the people who can afford to buy a corolla but want status so they lease a BMW.

There are however people who like to have a new vehicle every few years and can afford it. For those people, buying is a worse investment as trade in value after 2-3 years + the payments made are higher than if leasing.

I have bought every vehicle in my life but since I like to trade in every 3-5 years, I pay for that dearly. The better choice would have been leasing. That’s my choice though, vehicles are a luxury to me, not a tool to get me to work.

 

You’re on the right track here, as opposed to the folks that can’t seem to understand how a lease works so they just spout off completely incorrect bs.

However it’s not always people that can’t afford to buy. Some lease for the flexibility. I chose to lease to keep a low monthly payment on a vehicle I wasn’t sure I was going to want to keep after my lease term was up. I could have done like you to get the payment down and then sold in a few years and recovered my $10k down payment. But with a lease, now I get to keep my $10k and let it make me more money elsewhere. Then in 3 years I can decide what I want to do.

Another benefit is I only pay sales tax month by month on my payment. So any time I decide I’m done, the government doesn’t get another dime out of me. All you buyers wrote a big old fat check for the whole tax bill whether you keep it a lifetime or a year. And many of you are probably paying interest on that too.

OP: Whether you are leasing or buying negotiate that purchase price as low as you can. Then compare that to what a 2020 would be. Have the dealership run the numbers on both to find out your residuals, money factors and monthly payments and compare from there if it’s worth it.

 

This is not true.

I leased my '17. 15k miles/year. 36k mile warranty. Do the math. You are required to make any repairs past that point, or be charged for the repairs when you turn the vehicle out.

Same deal with my wife's tiguan. We leased one of their loaner cars. Had like 4k miles on it. We did a 12k/year lease with a 36k mile warranty. Technically it will be out of warranty before we turn it in if we use all of the miles.

 

But when I trade in, the trade value offsets that amount of tax.