Who here leased their 3rd gen?

Oh they absolutely were, they don’t like when people research and actually ask questions. My dealer tried the same thing, when you start throwing those terms around and they see you know what your talking about they lose the leverage of you then knowing more than you. They started telling me 525 with 2k down, I politely told them that was ridiculous and eventually we got to 340 a month with nothing down. This was over a month of back and forth and me just being casual, finally they wanted to move the truck off the lot (been on for 180 days) and it was end of the month. Win win for me.

 

They are having to dealer trade for the one I want so I don't have that kind of leverage. There are some semi-rare options that I simply won't bend on to buy a nearly identical one on their lot. It was probably enough to piss them off to the point where they were going to gouge me on it until I call their bluff thanks to the folks here.

 

leased my 17 TRD OR 4x4 w/ tech

$377/month w/ $1000 down to cover fees/title - 3yr @ 12k/year

I'm going to purchase at the end of the lease and will try to negotiate a lower price at that time. I was rear ended a few months ago with $20K in damage. Most people said I should return it, but the way I see it, I have a brand new frame, bed, tailgate, hitch, tail lights, bumper, headlights, grill, and bumper. Incredibly, the cabin and bed panels were untouched.

I don't want to start over with a new payment... It's a good truck and want to get another smaller car for daily driving (hoping Toyota goes turbo with the corolla hatch in 2020 lol)
Had this been a car or anything with sectional frame I would return the lease in a heartbeat

finally, something I heard/learned from my accident, maybe someone can verify/clarify this statement - if you live and lease in California you automatically have gap protection, even though, legally a dealer will try to sell you gap coverage anyway; you should deny gap as it's included in a lease vehicle in California.
My reference for the statement above - a co-worker who totaled two lease vehicles and did not have to cover the difference between value and what he owed - walked away from both cars - has not wrecked his third and current lease. My cousin also got his 6month old 3 series totaled by Valet service and he too walked away from the lease and got into a new lease, different car.

 

Some banks automatically include it in the lease, I would check on that first. As far as it being required in CA, I have no idea as it’s not in NY. Dealer wanted 1700 for gap, I denied and I pay about $3 more a month through Allstate.

 

I was looking at an SR, the dealer started at 422 a month with zero down and I politely told them that it was absolutely rediculous for that price and walked. I got a text later from my sales guy saying 362 with zero down. Every situation is different, as is every dealer. I was getting out of a 36 month lease with only 5k miles at the 27 month mark and they told me I had negative equity. On a Subaru wrx. By the end I had positive equity, a discount, and a $308 monthly payment. I was happy with the price so didn’t push harder or further. My price was higher because I had a bed mat, floor liners and door sill protectors. Always check more then one dealer. Truly hope this helps.

 

This is the deal I'm looking at right now. Fairly certain I'm taking it and doing $2k down, thoughts? -

2019 DCSB Sport w/ Prem&Tech and some dealer add ons
$42437 MSRP
$39330 Sale Price
$750 Rebate
$29726 Residual Value
.00195 Money Factor

Should be resulting in ~$360 payments?

 

Same for me. I have owned two other Tacoma's a first gen and 2nd gen. This is my first lease and I already modded it. So I plan on buying it at the end of my lease.

 

You should be paying 360 with zero down, they need to do better on the sale price.

 

If you’re in California go through Cody at Tustin Toyota. His numbers are lower than any other dealer would come close to and he’s completely hassle free. I made my deal with him via email, drive up to Tustin and there were no hidden fees or tricks.

The better rates right now are currently through US Bank which Tustin Toyota uses as well as the TFS. Got my 18 OR DC for $296 a month (pre tax) and US Bank includes gap on the loan so no need to pay extra for it.

https://forum.leasehackr.com/t/socal-toyota-special-lease-offers/29834/1867

 

I leased my 2017 and it’s up in January, I have a level kit and 18” wheels on there, should I put the factory wheels back on or is that even possible to do? Wanting to trade up to 2020 or 2021 with $25,000 residual, will they apply the equity to the new truck?

 

You'll want every thing back to factory or they'll start dinging you for things. Just a heads up. You can probably ask them in advance too what their requirements are.

 

Even if I just trade it in? Will it be obvious that there is a level kit on it

 

They may catch things in their inspection and forward you the bill OR they make take it as is. I can't say, you'll have to ask them.

 

You have to find the buy out amount of the truck and then take the buy out price and compare it to the residual. If your buy out is lower then the residual you have that amount between the buy out and residual as your positive equity. If your buy out is the same or higher then the residual then you have negative equity.

 

I thought the buyout was the residual

 

It all depends on where your at in your lease, if your trying to get out early or wait till the last day. If you wait till your lease is due the residual would be what you pay if you want to purchase the truck.. The only thing is at that time if your truck is worth more then the buyout your good and will have a little equity. If the trucks value is not worth the buyout you wont owe anything to turn it in but you also won't have any equity.

 

Yah I got that, definitely will be done paying on it before trade in, I’m just wondering if I have to buy it and then trade it or if I can trade it straight from the lease to the dealer and use the equity

 

Having spoken to several people, (including the salesman at my local Toyota who is leasing his truck), I expect to have positive equity at the end of the lease. Maybe a lot of equity given the used truck market. My working plan is to buy it out, but if the equity is really strong, I may move to a different vehicle. Will test drive the new Frontier once its out.

 

I was planning to buy mine but I hear the interest rates for a “Lease buyout loan” are higher than a used vehicle loan. Now I’m hoping to be able to trade up to a new truck and should have around $5,000 in equity depending on the offer from the dealer and the fact that I have this leveling kit on it

 

Forgot to mention I only have 27,000 miles on it out of the 36,000 that comes with the lease