About to pull the trigger. *Update*

What was the MSRP?

 

What happened?

 

Truck and trailer jack-knifed on the interstate and took out passenger side...Ins. Co. totaled the truck - I was hoping to keep it for 5 more years...

 

MSRP on the 2020 is 48,700.

 

A $1700 discount off a 2020 Pro is a good deal. I say go for it!

 

Leasing is horrible. If you can’t afford to buy - Keep saving. You will inev go over the miles and then when you turn it in to get out of the mileage overcharge you’ll have to negotiate with the same dealer most likely to buy another vehicle from them.

 

That's extremely high

 

Roseville Toyota, but I got almost the exact same quote from Thompsons Toyota in Placerville. I have requested the breakdown of the deal via email as this would be my 4th Tacoma lease and by far the most expensive.

 

MSRP is $45,397 - Selling price supposedly is $42,500 $3k down and $508 per month seemed high to me which is why I posted this thread.

As it stand now I am waiting for the breakdown of the numbers from the dealer. I may end up just doing a normal finance as my credit union is offering crazy low rates.

 

Sounds too high for a lease. There are 3 major factors in the formula, 1. length of term plus miles/yr(sometimes inbetween numbers are a better option like 42 months), 2. money rate or interest (ask this number and multiply by 2400 to get your interest rate you would be paying on the lease) and 3. residual at the end of the lease term. Tacomas run in the 70's% for residual. Plus always negotiate the price of the vehicle, even though you are leasing this can be reduced just like you are buying it outright. Don't put additional money down, its just like prepaying for the lease and only reflects a reduction in your payment for the lease term.

 

Maybe try Auburn Toyota? I *almost* bought my truck from them, they seem like pretty honest people. I bought my truck from Maita and they're, in *my* opinion, pretty shady and very disorganized.

Ed

 

What rate are they quoting you?

Are you a USAA member? I got my loan from them and they're offering a 2.74% APR and terms up to 84 months! With an 800+ credit score, buy it...don't lease it.

Ed

 

I wish I was a member. If I could get that rate I would not even be thinking of leasing...My credit union's best rate is 4.29% for up to 84 months.

 

So I just ran the numbers through Leasehackr (recommended by a member on this forum) and the $508 per month with $3k down is way out of line. I used a residual of 70% and with $0 down my payment on a 3year 36k would only be $426 per month and that includes tax. That is using the sales price of $42,500

 

Were you in the military?

Ed

 

I was not

 

Run as fast as you can from that leasing deal. Toyotas should be very inexpensive leases because of the resale.

My brother leased a $46,000 Lincon MKc Reserve with no money down and the payment was only $400 with no down. Thats a heavily depreciating vehicle. Toyota should have a waaaaaay better lease deal. The residual should be 67% of full retail

You are getting hosed. I would love to see the MF and all the additional; fees they are charging you.

Nothing wrong with leasing as long as you get the same price as a cash deal would be. We lease one vehicle and get a new one every 2.5 years. I won't lease the truck becasue well its a truck and I want to do what I want with it so I paid cash.

We choose to rent my wife's vehicles so I can keep (kicking and screaming) her in a new vehicle every three years, Never put money down on a lease. Thats one of the benefits or renting, Another benefit is if one hits someone the leasing company will be named in the lease as the owner. Thats why they require $300K liability. Also you don't have to baby it just change the oil one or twice. Also don't have to deal with residual value on a lease or bad Carfax as GAP comes with Honda leases.

She hates getting new stuff as she has to learn everything again,. She still has a Galaxy S6 with a pink line going down the screen Yet she doesn't want a new phone. I'm definitely not complaining. I know other wives want to be in the mix all the time. My wife prefers i shop for cars alone LOL

 

The automatic transmission was re-tuned for 2020.

 

At this point I have decided to just wait until the Toyota dealers come back to their senses. They seem to think the 2020 Tacoma is plated with gold and are not willing to deal on them. I believe this will change once they get all the left over 19's off their lots and have a good inventory of the 2020's

Thanks to everyone for all the input as it put me back to my senses.

 

Just buy it youll be better off knowing its yours