Is this a good lease deal on an 18 TRD Pro Manual?

How much of a tax savings are you getting that you would take a beating like that on a lease?

The math doesn't work out in your favor with lease vs buy and as others have pointed out it is because of the residual value. If you finance $43K @5% for 60 months your monthly payments will be $790 a month and after 3 years your loan balance is $17K. You would need to save a lot in taxes to make up the difference not to mention if you exceed 36K you will get punished.

The only way to win in a lease is to get lucky and have your residual value drop below the forecast. That rarely happens.

 

This is why I asked this forum. I am new to Toyota Tacoma’s and always seen online of the Tacoma having the best residual value/resale value.

When I got this quote I was confused at the residual value at the end of 3 years. So I will likely pass and look for a 2019 to lease as I do not intend to keep this truck.

Edit: this is also based on “average” money factor. I currently lease through Lexus and have tier 0 credit so my payments would likely be a lot lower than quoted. I was just more so asking if the residual seemed right.

 

The interest rate is key. Quickly putting these numbers into a lease calculator sheet I back calculate your interest rate at around 8.5%. That means that your interest alone over 3 years would be close to $10,000. This is why it's a terrible lease.

To compare if the rate was 1% the lease would be about $530/month with same residual.

 

Leases can work in your favor no matter the residual.. High residual? Turn it in to the dealer when you're done. Low residual? Sell it to someone else even carmax.