Looking for new Tacoma(1st) Lease

Howdy folks, new to the forum and i was looking to buy(lease) a new tacoma. Since the residuals are so good i fugured the payments would be as low as any lease around, right? With all the lease calculators on line and info to be had, it seems like this would be pretty easy. I made some spreadsheets, read till im blue in the face and have exhausted all resources to educate myself as a consumer. Went to the dealership today and....

$36,114 msrp
$25,641 residual
$34,900 cost, 500+invoice
$2181 tax(texas pays tax on total price)
$966 additional cap cost
0 down

$38,047 total cap cost
$25,641 residual
$12,406 depreciation and taxes and fees, looks ok
$4,356.54 rent charge, finance charge? the amount charged in addition to depreciation and amortized amounts, this is what seems wrong to me. if i take the
.00190 money factor
$465 payment 36 month/12k miles

above numbers are from a contract they gave me


Does this sound right? I cant get any lease calculators to match up, dealer wont disclose how they get to this, they said they just plug it in to the computer and it gives payment.

Thanks

 

If they won't disclose it..........why would you even concider it.....when in doubt......walk out the door.....but I would not rent a vehicle for long term anyway....jmo

 

well i found the formula that gives me the numbers the dealership gave me.
Payment = (Cap Cost - Residual) ÷ Term + (Cap Cost + Residual) x Money Factor

doesnt make sense to me but its the calculator that gives the highest payment.....

 

That money factor is REALLY high

 

dealer told me thats as low as toyo will go on a tacoma....didnt even check my credit yet....720+

 

a good money factor is around .00017, and really good subvented money factor might be around .00004

 

Toyota is not doing any great deals for a lease. That's your normal deal nothing great but not ripping you off either.

 

I chose to lease with my Tacoma because I like trading in every few years. This way, I don't have to deal with trade in hassle. My monthly payment is lower than finance too.
Even if you finance, you are still essentially renting it until you own it outright. In 3 years when my lease is up, I can buy it for a lower price than a 3 year old Tacoma will sell for on the lot anyway. So in my opinion, the lease was a better option for me.

 

That is a hell of a payment for a lease! My payment(not lease) is $407 for TRD OR 4x4. But since you said you only keep a vehicle for a few years it probably is better for you. Good luck!

 

Way too much for a Tacoma lease......Yowzaaaa