Those who leased - what money factor did you get?

So, $1050 for a $35K truck? I think that must be a mistake...

 

on leasing there are four major factor, residual amount, money factor, term and miles so you pay your taxes on full price of the truck you agreed on. plus title tag and other things, residual amount is the balance at the end of the term. money factor is the interest rate. on Tacoma's since they hold the value best is about 70%. on 35k truck balance after residual is around 12k plus taxes and tag fees what ever your state charges. and money factor you add all three and divide by 36 months payments.

 

Why not buy it and then trade it in 3 years from now? Less money wasted and you'll get damn close to purchase price for trade in.

 

New customer MF is .0020
Returning Toyota Financial customer is 1 point lower .0019 with credit score of 720 or higher.

 

Interesting. I did my last lease through toyota financial, so I would think technically I'm a returning customer. I think I'm over 720. I'll look into that.

 

It's referred to as "Encore program"
Funny because most dealer don't have a clue what it means.
Good luck.

 

70% of 35K does not equal 12K.

The residual is much higher than 12K!

 

Would love to, but on a 4-year loan vs 3 year lease it's $400 more per month to own vs lease.

 

add taxes,title and tag fees plus you add interest

 

you multiple money factor with 2400

 

Know this post has some older posts on it, but wasn't sure to start a new one or not (newbie here). So I am going to lease a new 2018. Got the price of the truck at 39700.00 fully, fully loaded. For a 36 month lease @ 15k annually with a 13k trade-in, all I have to do is put down like 800.00 dollars for the lease then no payments for 36 months. My trade-in covers the entire lease and most of the down payment requirement. My wife then plans on just saving the 28k residual (+tags, taxes) and putting a cash down payment on it when the 36 months is up. Right now, auto loans with good credit are hovering at about 4%. Who know what they would be in 3 years from now. Is this a good deal? It seems like it would be. I ran the numbers and with truck cost, tags, taxes, etc. it came out to about 43k and it I did a loan at 4%ish now, and paid it off in 36 month, it would come out close. A 36 month loan @ 4% also is 830/month payment. Never did a lease before.