Is this a good lease deal?

never leased before - just gauging how good or bad of a deal this is given the supply chain issues and the world.

i can definitely just pay cash and buy the car out right at any given time. money is not the issue. just intrigued with having a new car every 3 years or with the tacoma's resale value not worried about buying out the lease at the end.

thanks

** Estimated monthly lease payments: This offer is available only to qualified customers with a credit score of 720 or above, at participating dealers by Toyota Motor Credit Corporation . Advertised lease rate based on 36 months, $4,266.00 due at lease signing, $650.00 acquisition fee, including the gross capitalized cost of $41,289.00. Excludes title, taxes, registration, license fees, dealer preparation and additional options. Total monthly payments equal $10,169.00. Cash due at signing includes $3,984.00 capitalized cost reduction, a required security deposit of $0.00, and first month's lease payment of $282. $0.15 charge per mile over 10000 miles per year. Early termination fees may apply. Lessee is responsible for maintenance, insurance, repair, and excess wear/tear at end of lease. Lessee will not be liable for extra charges if realized vehicle value is lower than residual value at end of lease. Lessee may incur penalties and additional charges for delinquent payments.

Included Packages & Accessories

• Bed Light
• Mudguards
• 50 State Emissions
• Door Edge Guard
• 5" Oval Tube Step - Black
• Audio Plus:
• All-Weather Flr Liner/Door Sill Protector
• Chrome Bumper
• TRD Off Road Package:
• Power Color Turn Mirror
• LED Daytime Running Lights and Fog Lights

 

The big question here would be where you feel the economy will be in three years. Will that truck be worth what you owe on it at the end of the lease or would you be better off buying something else. Vehicles are at a high right now, so leasing may not be as bad of a deal as long as you only drive 10k a year. Then buy a new vehicle in three years when/if rebates and discounts are a thing again.
Here is what my financial advisor suggested I do when I bought my truck:
I have the cash to buy the truck outright but with such low interest rates…I got a 60 mo loan with 1.89% from my credit union. I put that $45k in an aggressive market and let it ride until the market starts to turn…if it does. Either I will make a lot more than I pay in interest over the next 5 years or I pull the money out if it starts to drop and pay off the truck.

To me, it is worth the risk to potentially make a 20% yield on my $45,000 than to pay $5,000 a year to “rent” a truck that is a lot harder to get rid of mid lease.

Just my two cents.

 

If you’re putting down 4.266.00 and paying 282.00 a month you’re essentially paying 400.00 bucks a month to drive it 833 miles per month. What’s the money factor and residual? I’ve leased, but with a Tacoma and amazing resale I don’t know it makes a lot of sense unless the buyout price at the end of the lease is really good. Just my limited knowledge opinion. But if money is not a concern for you and you just want to keep it stock and get a new truck every three year go for it.

 

Plus, I don’t know where you’re located but leasehackr is a great site to compare deals. This guy usually has great deals on Toyotas and is a broker for a dealership in Philly. https://forum.leasehackr.com/u/Jrouleau426

 

Holy shit. 4 grand DOWN on a truck you wont own?

If you want to lease a truck, lease a dodge ram. I put zero down, and paid 300 a month, 36 thousand mile lease.

 

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While the market is really at an unprecedented place right now there really are few options that make sense, especially for someone looking to get into a 4x4 truck, and even further the best in class 4x4 with resale value that never completely felt right (always far higher than anything else)..... Leasing is one of the few solutions that seems to make sense, though as others have said there are many factors you must take into account with a lease that are non-factors when purchasing. Money factor, residual, if you think the value at the end of your term is properly estimated... As others said.

If I were you I'd look into some information on the process of buying cars, even if you think you know what you're doing a lot of times you don't. Surprise, the dealers know more. I would suggest looking into something like Your Auto Advocate (can find on youtube, highly recommend before signing papers).


I will, however, after urging caution, offer two anecdotes:
A) I leased my baby. For me, it made complete sense. I put down less than you are being offered BUT am spending "more" per monthly payment. My auto FICO score was legitimately "so close to perfect you could buy the whole lot today" as the F&I manager put it. I've always paid on time and I always paid considerably more than my minimum payments.

and also,

B) my M-I-L purchased a '16 sport 4x4 in NV less than 2 months ago and spent what I did on my brand new '21 Sport 4x4.....


While this market is truly unprecedented thanks to "supply chain" issues it's almost too dynamic for any of us to monday-morning-quarterback your decision; but if you're anything like me, you'll make sure the deal you get won't wind up with an upset wife and a grown man sleeping in that new truck

 

Write a check and be done with it.

 

never seen a goooood lease deal no matter where the economy is

U r paying on a depreciating item that provides little return

a paid for well kept vehicle in 3 years will be worth just as much

maybe more

sell it ........trade it.......give it to a grandchild

its yours

hard to beleive many are enticed in a balloon market

it might last 3 years

history says not

 

Your lowest cost option is to pay cash buying the Tacoma outright.

Now, no monthly rental or limited mileage.

Leasing: You carry the upkeep burden on a Tacoma you DONT own and making payments on a Tacoma you DONT own.

Any Lease seems a waste of precious resources. Specifically, your $$$$

Lease only benefits the dealer.

 

For a lease you need to give zero to very little down. Do not give a big downpayment. The downpayment does not give you a better interest rate on the lease.

 

You only get 10k miles a year? hope you don't plan on driving the truck

 

Run, don’t walk away from a lease deal, or fleece deal as Dave Ramsey calls it. Or if money is no object, just pay cash for a new truck.

 

If you can afford to pay cash, then just buy the mutha-phucka! Why you are even considering a lease is beyond me?

 

Leases are not for everyone.
I leased a Tundra once. I used the equity in my trade-in to reduce the monthly payment. The entire time I had it, I felt like it really wasn't mine and I had to be conservative with any mods and wear. And at the end of the lease I decided I didn't want to purchase it either.

 

It’s your money use it how you see fit. If you don’t drive much and would like a comfortable reliable new truck rental for 3 years then lease is a good fit.

Lease probably made more sense for me right now than it ever has before. We have 1 large vehicle in our family and are likely to only keep it 4 years until the kids get bigger or I get tired of it. A lease would save me $800/month right now and $800/month could be doing great things in the financial market right now. HOWEVER I have always bought my vehicles after my first leased vehicle had trouble with damage to the vehicle when it was stolen a week before my turn in date… needless to say there was a lot of tricky situations that happened following that lead me to say from no only buy. I also only finance vehicles, and I only finance at 0.0% for as long a term as they offer, this gives the dealer a kick back on financing and also gives me flexibility to invest the money elsewhere.

Lease is a rental and although some people say they are stupid for a lot of people they work. If you damage vehicles a lot lease is not for you, also if you drive a lot of miles lease is not for you, lastly if you keep your cars longer than 5 years on average lease is not for you.

 

Never put money down on a lease. Never.

 

If I had a lease right now, I would be furious at my bad choice. People who bought two years ago are getting full value on their trade which means all that they have paid is interest on the loan.

 

thanks for all the feedback

1. 10k miles is not an issue for me, i have a paid off 2017 rx350 with 35k miles on it as my other vehicle, i do not drive to work
2. i have never leased before and if the price delta vs financing at the end is not that huge then it may make sense for me
3. i like the option to walk away after 3 years or buy it out. with the new tacoma 2-3 years away this maybe a good way to bridge the gap till then
4. i take care of all my cars so i am not worried about damage and i would do only light mods
5. this maybe an expensive rental but like i said above if it evens out then no biggie. i dont see any financing deals on the horizon or ever quite frankly and i would never pay more than 0-1.9% in financing.
6. i think i will wait until the frontier comes out to see if toyota will up the incentives with new competition
7. just wanted to get some pros and cons from the forum - thanks!