Buying my leased Tacoma

Wondering if it is a good idea to buy my 2018 Tacoma TRD Sport at end of lease. Its the bright orange color, manual, and sunroof, all leather, etc and only 52,000 KM. I was going to get a new Tacoma, but no inventory, and be 6-8 month wait to order one like I want - plus the colors offered are horrible. Also the prices and rates now for anything new is worse than if you went to buy a Ferrari, so buy is my only solution really. Im sure the truck will last 100,000KM or more easy, but just wondering what can I expect issue wise and should I go for any extended warrenty, etc? There is no rust, and she looks like new even after 5 years. She has the TRD Air Intake and Exhaust system (came with it all). Thanks.

 

YES. I mean, it’s a personal decision obviously but I absolutely would buy it. Who knows what Gen 4 will bring.

This thread may answer some of your questions about what you can expect long term:

https://www.tacomaworld.com/threads/who-has-the-highest-mileage-3rd-gen.694646/

 

Welcome to TW. If it was me I'd buy it outright. You know what you got as well maintenance wise.

 

Depends on what your buyout amount is. It should be on your lease paperwork and also your online financial page - trust me, give both of those a review before you physically show up to the dealer. My dealer tried to sneak a couple grand into my lease buyout without me noticing, but immediately backtracked and played it straight as soon as I presented the physical paper.

But yes, I bought my 2018 out 1.5 years ago. Still happy with it.

 

Seriously.

 

I bought my 18 lease out. It was a 3/45 business lease. I own the business. I personally bought it, 2yrs ago. No brainer, with what and still are the prices of used vehicles. Buy out was 30k, msrp was 43k, only 22,000 miles on it.

 

It all depends on what the residual(buyout) price is.

 

Curious, if you didn't buy it, would you lease another vehicle?

 

It would depend on the price, but normally they collect most of the money on the lease and the buyout is reasonable. You know how well it was treated and if you still like it. I would expect the offer to be less than trade in price, or close, so it should be a good buy, and you would be able to sell if for a profit if you want to later. I think I would buy it, if it doesn't have any rust or other issues you are aware of.

 

I would, but I do business leases. I can full write vehicle off. Can't on purchase, unless it's 1ton or over.

 

I don't know if you should buy it.
How much is the buyout?
How much is it worth to you?

 

Used to be that you could buy out at residual value, and sometimes less, but I know of recent many manufacturers are “not allowing” this, and apparently have written some sort of first refusal language into leases. It sounds a bit kinky to me, but with the current used market manufacturers lease arms are making even more bank (leasing is high profit for dealers and mfrs which is why they push customers towards it) off of leasing as well as lease customers and selling the lease returns either to dealers and or at auction. Is this a Toyota lease or another company? As has been mentioned, just use wisdom - look at all your OG paperwork, and compare it to the buyout numbers you are given. If it were me I’d try to do as much as possible through TMC or whoever it’s with, and bypass the dealer if you’re able to. Leasing can be good, but can also become ‘fleecing’ if you’re not careful. Let us know how it goes!