Is this a good lease deal??

I think in the end, the question is who the FUCK would lease a tacoma and then return it? With mods on top of it? If thats the debate then yes, leasing a Tacoma to return it is dumb for most people. I never intended on returning mine from day one. Although you never know the future and having the option is nice if something bad came up

 

Just a quick follow up to all the input. I AM looking into purchasing possibly as 2012 or 11 but the dealers have these things priced out at 28-30k for those used models however, I will still keep looking. I am in hawaii for work and then home for 6 days and off to PA. I can visit these dealers and use my cunning and witty negotiating skills since I wrenched at a chevrolet dealership for over 10 years before I got smart and got out of that game.


In regards to a waste of money putting mods on a leased vehicle:

I can see your points however I am not the guy who pays someone to do anything to his cars (unless its welding, that I just can't do to save my life hence the 5k in fabbing a 4 link suspension for bagging my 55) I can get most parts at cost through my uncles garage and I am more than qualified to throw a set of 5100's on this truck and pick up wheels and tires for 1200-1500 and I could easily sell them to recoup some of my cost's in the end.. plain and simple, I can NOT roll stock, its not me, I like to stand out and be different and if you didnt build it THEN STFU

In regards to lease's are not for everyone:

I think I've explained myself as a decent candidate for a lease and I am understanding completely that the Taco's dont lease well however when you have a house payment of 2700 (don't think I live in a mansion, I live in los angeles) and my wife is a CPA and I work in sports broadcasting and we make a very comfortable living however, I am comfortable with the size of my penis and unlike the plethora of douchebags in LA, I CAN afford a BMW, I just choose to save money for more important things in life like my kids college accounts, stock market, and I also play music and am an avid home theater hobbyist as well as a car builder and yeah, the shit gets expensive so I don't care for a 500 a month payment on anything let a lone a mid size pick up that will mostly carry my mountain bikes, kids, and tow the 55 here and there. Sure I can buy a used truck and spend less money but I enjoy the look of these trucks and I figured hey, coming from a scion, I know my loyalty within toyota runs deep but that wont keep me from buying a shitbox chevy (since I can work on them) and cry at the pump.


I forgot what else I wanted to say because I ate a mc flurry and now I am acting a fool all up on the internets

 

This is almost as bad as trying to talk politics or religion. I will stop trying to convince people not to lease a new truck and modify it even though they don't even own it. I'll just shut up and try to live with the shame and horror of looking uncool in my paid-for stock Tacoma with 57,000 miles on it.

 

Pay cash, and own outright without debt? Man, you're weird!

On a serious note, how do people not realize that the only one who profits from a lease, is the dealer? No dealer would offer lease options if they benefited the customer more than the dealer.

Where this thread really went wrong, is when the OP started talking about the monthly payment, rather than the total cost. And to those saying that if people paid cash, no one would ever own a car: lots of people pay cash for cars, they just happen to be cars that they can actually afford.

 

Make sure you honk and

 

X2 and I'll wave too

 

You could not be more wrong. Clearly you did not read the whole thread. In my post I clearly stated that with a much lower lease rate, for me it was cheaper to lease and buyout at the end of the lease, opposed to financing from day one.
Dealers would rather lease you a tacoma cheaper in thinking they will get a high value truck when traded back in at the end of the lease and make more money off the used truck again, there for making more money all together. Does not benefit them if the lease owner buys the truck out, which is the way to go

 

i was in the same situation last week. I wasnt sure if i wanted to lease my third Tacoma or Own one. The rpevious 2 i had financed. When i looked into the leasing options, i couldnt find anythign good at all. It was coming out to be 450 per month for a lease, that too a prerunner non TRD. I decided to look into used. Found a 2009 50k miles TRD Sport prerunner with tow package for 21k drive out. Paid 1k down and 2.9 APR for 76 months i ended up with $350 per month including GAP and Extended warranty 4yrs 100k miles. Tacomas are Tacomas new or used they ROCK.

 

76 months? Wow...

 

yeah 60 was at 2.7% apr so with .2% more 76 months didnt sound too bad. It was a huge difference in my monthly.

 

OP, if you plan to turn over your car/truck every 2-3 years, a lease is not a bad way to go. You apparently are comfortable with "renting" a vehicle and not having any value built up in it. If that's the case, your lease deal looks fine to me. Lots of naysayers on here, but in certain cases a lease is a reasonable option. Now, paying cash on a vehicle that holds it's value and then selling and buying new could still work the dollars in your favor, but will probably not beat the ease of getting in, out and onto another lease...

 

And thats the bottom line for me, monthly payment. Its being said the only person that benefits from a lease is the dealer. Well thats not true. Having a vehicle that is covered for the entire time you own it is a huge factor for me. I have young kids. I am gone (out of the country) a lot. Its a huge piece of mine knowing that toyota will come pick the truck up where it sits and repair it. Most of you married guys feel my concern. Its bad enough having our wives trying to handle to day to day duties, well try handling it when you at 8,000 miles away in completely different time zones.


Another thing is that I too can have the same luxuries as most of you are doing with a smaller payment. Either way we need modes of transportation. You are paying for it some way or another. Yeah I could buy this truck. I could easily afford the monthly payment but, what for? I could care less because there is a HUGE chance that I will want something different. Hell I am still not 100% sold on the tacoma, I test drove a mazda speed 3 and holy shitballs that car is fun and fast.. I might just pick up a beater truck and have best of both worlds. I just wanted user input if that seamed like a good lease deal or not, not to be capsized by owners that have not walked a mile in my shoes to tell me what THEY think is the best financial move for ME..

 

Ive been biting my lip, but f*ck it. The tacoma is an excellent vehicle to lease. Why? because it holds its value. I started looking at used tacoma's, and everything was priced at 23-25k, with 100k miles on it. I bought mine new, for 30k.
A lease is just a three year note, with a balloon payment on the end. my truck has a residual of 21k. if my truck is worth 25k at the end of 3 years, Its built up cash value that is mine. I can put it towards a new truck, I can buy the truck for the residual ammt, or I can throw the keys on the desk.

but what about miles? I dont care. If I go over, I just buy the truck for the residual, drive it another couple of years, and sell it.

Now, When I was shopping for a new suburban for my wife, I asked about a lease. Sales manager told me that the money factor from chevy was bad, and they set the residual really low. Turns out, resale for a suburban after 3 years is shit.

Back to my tacoma... If a meth head steals it and police find it trashed... I turn it in. If it gets keyed... I paint it and turn it in. Get in a wreck with 10k in damage... you get the picture.

In my eyes, I drive a 30k truck for 3 years, and either buy it, or trade it for 25k on something new. Here is my bold prediction. Toyota either shits the bed on the new tacoma, making it complete shit, at which time all our trucks are instant classics. OR, they go upscale, selling the truck for 40- 45k, making the 2nd gen even more valuable. my .02

 

I will agree that a lease is a good idea if the residual is lower than the kbb after three years (obviously).

So if you do lease negotiate the shit out of the residual (if you can).

 

Leasing is like throwing your money into a flooding Colorado river ....

 

In Canada the buyout is set at the beginning of the lease (because it's based on what's left on the truck loan). Mine is Bout 12k after 4 years, and I'm guessing in another year it will be worth more the. That lol. I should make a few $$$$ if I decide to sell

 

I mostly agree with you, but I think leasing is MORE like taking a semi-soft dump on your money and flushing it down the toilet.

 

this x123123213

I bought my 2010 truck for 25k, sold 3 years later for 22k. That afforded me to have a big down payment on my current vehicle.

Monthly payments were around 440 a month iirc

 

So im paying 9200 of the value lost in 3 years leaving the residual at 21k based off selling negotiated price of 28k. If its worth 25k and I roughly put 22k miles on it and I can sell it and make 4k during the sale then explain to me just how leasing it is a bad idea?

The entire payment is a write off.

I pay 326 plus tax a month for a 30k truck most of you are paying 500+

I am paying tax title and first month payment with the down. Hardly throwing money away when you pay for that anyways.

I keep a nice cushion of over 12k in my savings account and with todays economy id rather have that money than hope I can try and get that back out of my truck.

 

This is the way I see it. Leasing is a calculation that is based on depreciation. What you end up paying is depreciation cost, lets say for 3 years if its a 3 year lease. Which explains the lower cost compared to purchase. If you purchase, it will still depreciate over the 3 years. Those who purchase seem to forget that they spend money too, as the value depreciates.

I suggest, and this is only a suggestion if you want to play with money cost factors, lease for 3 years as long as you negotiate low payments and low cash out. Forget about the miles if you plan to keep the truck anyway, it wont matter as long as you keep it. Important is to set the residual value low. That residual value is the amount you will finance at the end of your lease. Then, your payments are manageable.

Just my opinion. Good luck!