Leasing a Tacoma w/ intentions of buying

I’m new to the forum so forgive me if this has been discuss before.

I’m planing on buy a new Tacoma. I’m not really worried about going over the 12k-15k miles per year since it’ll mainly be used on the weekend.

Has anyone leased one, been under the mileage and bought it after?

I’m also considering financing it too, but don’t want a $600 monthly payment. Willing to put $15k down if it lower my payment.

Thanks!

 

Depending on interest rate and trim level your payment with that down payment will be around 400. Don’t lease if you plan on buying. By the time your done with your lease you would have more then half your truck paid off by then.

 

If you have $15K to put down, why don't you just buy outright? Depending on length of financing, that'll be like $350 to $450 a month, not $600.

 

Plus if you buy after the lease unless you buy for cash you have a used car loan instead of a new car loan at 0.9%. with a 15k down payment the payment should be as lot less then $600.

 

Damn, new car loan at 0.9%? Where do I sign? The best they wanted to do when I bought was 2% and my credit score was 820.

 

I would just buy it instead of lease then buy. 3 year old tacomas sell for about 5-8k less than a new one, so you might aswell buy it now with that 15k down.

Around me you can lease a 2020 sr for about $250 a month for 36 months with $3k down. So for the 3 years your paying $12k, then after the 3 years, the value of the truck will be around $18k-20k. You will then be paying 18-20k for the truck that you already paid 12k for... so for a total of 30-32k you get to keep the truck (not including financing and interest) OR you can pay 26k right off the bat and own the truck (you have 15k cash, so you will only have a loan out for 11k)

This is all for just a SR though, the higher trim models hold their value better.

 

It has to be one of those special toyota do. I got mine for .9% with 800+ credit.

 

Around my neck of the woods, the only time they offer special financing is end of the year deals. Tacomas don't sit on the lot here.

 

Exactly this...im working on a potential purchase this weekend. If they take my $35koffer and I put $15k down, after tax, tags, etc my payment will be $415/mo for 60 months @2.99%. At 3.9% (current TFS rate) it goes to $425/mo. Your credit score will drive your rate. Just start playing with numbers to see where you're at. Use PMT function in excel or an online calculator.

 

I live in michigan and the big three rule up here, so there are alot of competition for toyota.

 

My 2017 was $34,400 and they gave me $15,500 for my trade. I wrote a check for the tax and think I financed the extended warranty. At 2% I took a 72 month @ $305 a month.

 

There's only 2 Toyota dealers in about a 150 mile radius. Neither are high volume and one is pretty sleazy.

 

I did this (lease and then buy) with my current 99 a long time ago and got hosed on the purchase price, which was baked into the lease. So something else to consider, you are locking yourself in to a purchase price option 3yrs in future.

 

Friend or a friend recently lease a new car and talked about how low his payment was. Guess the lure of a $200 payment to enticing. I originally was planning on putting down $15k to buy it but just wanted an outsiders perspective.

 

Thanks. That’s what I was wondering.

 

He had a "low payment" because he was renting it. Sometimes this makes sense. For a Tacoma not really. It holds its value so you can actually build equity in it.

 

I'm leasing mine and good chance I purchase it at the end. Its not a cost-effective way to own a vehicle but its my first truck and I look at it as an extended test drive, lol. Tacoma's have very high residual value, making for a reasonable lease. Have a kid in college and wanted to keep the payment down for a couple years.

 

I got 0% from TFS in Gulf States region in November on a 19

 

Don't listen to a bunch of strangers and base your decision off of what offers you receive. Theres different rates for both sides, so you never know. The math on mine was around the same +/- 2k by the time I reached buyout. Plus, as military I can turn in a lease if deployed. Everyone is different.

 

In july 2018 I got 1.9% apr with 640 credit. All depends how bad they want to move a unit. I should not have qualified for this. Buying, not leasing.