Is this a good lease deal??

I'm paying $487 for mine with %0.9 36 month financing. In less than one year I will OWN the truck where you will still have to either buy the truck out, refinance, or turn it back in.

As I said before, leasing may be for you but it is most definitely not for me. Yes, I'm paying $150 more per month but I will own the truck in 9 months. Someone posted earlier they they had a 76 month loan on a "used" truck. I can't "personally" imagine paying 76 months on a "new" truck much less a used one. But, that is just my "opinion". Doesn't mean I'm correct. I just do what makes the most financial sense to me and leasing wasn't it or a 76 month loan wasn't it either.

Do what makes the most sense to you. At the very least you are looking at a Tacoma so you are moving in the right direction (think we can all agree on that).

 

It's actually mind blowing how you don't realize that the purchase price and sale price are the exact same when you lease, finance, or buy outright.
People not understanding lease vs buy is actually a very common thing I see

 

Exactly. If you can afford to pay more a month and have nowhere else to out your money (you don't to invest or anything) it's pretty smart to pay a loan on a car off as.quick as possible. You don't lose the money. It just accumulates a equity in your vehicle which is awesome when you go to sell or don't have to pay payments anymore.

 

This raises a great point. Regardless of purchase option(lease or not), how is going into $30k DEBT on a car a good financial move for anybody? Particularly in your case, on a truck that you'll use 1 week a month to haul some stuff?

 

Off the basis alone of what I need vs the other options that are out there.


Right now I have a nissan frontier crew cab short box and although that V6 that is in it is certainly quick, I do NOT feel comfortable in it and although I can't find the specs, I feel the tacoma has a roomier interior than this nissan.

I have considered the other big 3 but I rent trucks weekly on every show I am on and I can tell you out of the big 3, dodge hands down wins in those categories. They also have a great lease on the 2013 dodge quad cabs however, I don't feel like filling up a 26 gallon tank and getting 13 MPG around town.


Having said all that I can tell you while being here in hawaii for work, all I see is tacomas EVERYWHERE!! Holy Shitballs!!

 

Even at 0% 36 payments is $17,532... for your spanking new Tacoma? Dude give me the name of your dealer

 

He probably either put a lot down or had a lot of equity in whatever he traded in.

 

I didn't read the thread but, unless it's a business vehicle, a lease is NEVER a good deal.

 

Of course he did, but you can do the same with a lease. The more you put down the less you pay. I have done both and there really isnt as much difference as you think. The dealer is crossing fingers they can get you to turn in your truck, just like they want you to trade in your truck off financing. Cool thing with lease over financing is you only pay taxes on the amount you pay on lease NOT full tilt like you do with financing. In Boulder County it is 8.5% total TTL so this is big driver for me to lease. OF course if I finance at end of lease I end up paying it anyway but it is 3 yrs down the road. my residual is 22,364. Current 3yo Tacomas go for 25-27 so I do plan to keep it...but, if you treat your truck like you should-dunk in creeks, mud caked, tree branch scratches...dont ever think of leasing and turning in! Actually that gives me a great idea I might show up mudded with an elk head in the bed during my off lease day just to see the faces

 

Lol read the threa

 

Finally someone with a brain. You nailed it on the head right there. To smart people, leasing can save you money even when from day one (like me) you know your going to buy the truck in the end anyways.

 

To answer the OP question. That's not a bad deal but I bet you can negotiate the same payment with half that down. Leasing is a viable option for you. You can trade it in or sell it at the end of your term and pocket $2,000-3,000 easily.

Your cost to operate over 3 years is lower than financing. It sounds like you can more than afford a higher payment but it's not what makes sense to you. I was in a similar situation. My previous vehicle was payed for so I was used to no monthly payment. I didn't want to jump into a $500-600 payment so I leased, knowing most likely I would buy it at the end.

I just simply wanted a low monthly payment .

 

I traded in a Loaded 2010 Honda Accord with every option (and I mean every option). I financed it for 36 months also so I had plenty of equity built up in it. We all know Honda's hold their value just as well as a Tacoma

 

I pay $342 a month for my lease on a 32k double cab SR5 Long bed.
Right next to it was an access cab TRD for $130 less. In the long run the double cab is going to be worth more than a hood scoop and a few other things.

My buyout will be $21,150 but I start with a new truck instead of somebody's used truck thats 5 years old with 75k mile for more than the lease buyout

 

A lease in the OP's situation may make sense where he's going to drive the vehicle less than 12K/year and turn it in after three years and get a new vehicle, but if he's planning to purchase the truck after the lease is up it wouldn't be a good deal in the long run. A lease only makes sense if someone will turn-in the vehicle after the lease is up...if they end up purchasing it after the lease is up you're guaranteed to pay more for the vehicle after you've leased and then purchased it than you would have if you had purchased it in the beginning. My family is in the car business and absolutely love leases...it's a win-win for them since they make good money on the lease and then get to sell a fairly new car with low miles for a premium price a few years later when the vehicle is turned in/bought out.

 

I'm surprised this thread is still going. This is worse than the religious thread a while back with the many differing views on financing a vehicle.

In the end it is the OP's decision and his money. Granted he asked us if it was a good lease deal (which I "personally" don't believe it is if you have to put 2k down and you will still owe $19105 after 3 years). But if he is happy with it and it works out for him so be it. Leases (like everything else in life) have their place. They just aren't for me (and I've leased before).

In 9 months I will own my truck with no payment. Yes I am paying $150 more per month but I didn't have to take any money out of my savings, stocks, deferred Comp, etc. to purchase it. I save up the money to buy the mods that I want for the truck and I "personally" like the idea that it is most likely going to be around for quite some time.

OP... don't worry about the nay sayers (I'm one of them). Just do what you feel is best for you and what you are most comfortable with.

 

This is where in Canada and the US I think its different. Here when leasing you break the purchase price up into a lease payment sum, and a buyout. both together equal the same as the financing price. So when I go to buyout my lease, I will pay the remaining 12k or so and in the end only pay the sam purchase price from the beginning. All in all I will:
1- pay a lower interest rate offered for the lease (2.1) vs (4) for financing at the time
2- not pay interest on the tax of the remaining 12k for the duration of the lease. (we pay 15% tax so it gets pricey)
3- have a lower payment allowing me to save money myself and payout the loan at the end of the lease.
4- invest the money I save and get a greater return then the 2.1% it costed to save it
-
If the rules are so different in the US then I totally agree on the lease = bad arguments though

 

Yes , Canada leasing and US leasing are two different things

 

If you read the OP (although I have still honed some figures down and am still working on dealing better deals between a few dealers) I have gotten the price down to 353 a month including tax. I live in los angeles where our sales tax is now 9.25% now so my payments for the truck itself are more like 320 a month however, they estimated the residual value of this truck after 3 years extremely low ($19,105.00) so that means when I go to turn this truck back in, it will have roughly 22k miles on it, now I don't off road, I have mountain bikes and dirt bikes and on top of all others, I have young kids so going off roading in my truck isn't s smart or viable option.


SOOOO with that low of a residual and low miles that I will put on it along with my OCD I can guarantee that truck will be polished and waxed every 6 months (not doing that for the dealer, I am doing that for my own satisfaction) it should still be easily sellable for 25k so that would either put a few dollars in my pocket or give me enough equity for a down payment towards another truck, which I will want because with nissan putting diesels in their pick up trucks and the strict fuel efficiency regulations mr obama has put on auto manufactures, Diesel will be the future and guess what? I WILL WANT ONE because if any of us have one viable complaint, its the below average MPG these trucks get..


So at the end of the day, I am happy that some of you are in the position of owning your truck outright. For me and my traveling 265 days out of the year and the lease being a 100% write off, 2k out of my pocket and a low monthly payment and one amazing pick em up truck. That seems like a great deal for me


(also I am now looking for a pre runner with the TRD OR package because damnit I want that e locking read end for the sand)