2020 Tacoma Lease Payment

Except it never works that way when a lease discussion comes up. People blow straight out of the gate with mis information and basically shitting on anyone with a lease.

 

Instead of just saying its the worst thing you can do. Why don't you explain to us a little about why you think that. Because to be completely honest taking out a loan on a DEPRECIATING asset sounds like idiocy when you think about it. But millions do it. Truly if you can't pay cash for the vehicle you shouldn't be buying it. Yet we do anyway.

 

I also agree with this. As long as things remain civil maybe someone will learn something that we didn't already know (like me, I don't know shit) and then we can make a better decision next time we are faced with this issue.

 

I’m onboard with this. I think it gets escalated so quickly because when the anti-leasers show up they don’t usually have a constructive point, so random false statements get spouted off to try and validate their position.

 

Leasing is a taboo topic in some states. Fun fact where i'm from, Arkansas, less than 1% of new vehicles are leased. yet in texas something like 25% of new vehicles are leased.

 

While generally accepted, this is a gross over simplification.
The extremely wealthy borrow regularly, especially when rates are very low. This allows ones capital to remain untouched for minimal or low cost which is a very intentional choice. Additionally, there are several instances where this is demonstrably false.
One such example, I've known travel nurses (and other medical professionals) who lease a truck in a 2 year long appointment in Montana and then turn it in because their next stint is in NYC (or overseas, etc).
I was looking to lease originally for similar reasons. However, I did not end up doing so due to what the lenders were able to offer in my area.
Bottom line is to know what and how you're using your own money.

 

You have to do what works for you. I did a series of 3 year leases (for about 15 years), because my accountant told me to. I own a small business and it had some benefits (for my situation). This time I did a buy, because I plan on keeping it longer than 3 years. Everyone's situation is different.

 

Exactly, when it's your primary business vehicle for a business you own you can deduct the lease expenses from your taxes (depending on the state).

 

I have a 2016 OffRoad 4x4 I bought in early 2016 with 65000 miles on it for $34500 OTD.
My 2016 is paid off now, I put 10k down and paid off the remaining loan payment.
The dealer just offered me $24k on trade in and I think I can get $26k private here in Hawaii.
That's $10,000 depreciation over 4 years. $2,500 a year. That's $208.00 a month depreciation.


I just put a deposit on a fully loaded 2020. I would never lease a vehicle. You will get bent over if you drive to much or have damages. They get you end of term on those miles.

 

I used my truck as a work truck and it's seen some heavy use.
But to each your own. If you like changing vehicles or plan on having to move often for work it may work for you.
If your just trying to save money and really need a car full time, that's when people get in trouble. Ive meet people that have to park their cars in the garage for 6+months and not drive at all because they didn't calculate the amount of miles they would be using (Florida).
I live in Hawaii now, I used to drive 22k a year here surprisingly. But I purchase a NV1500 last year for work so my truck has been sitting for the last year.

 

The 2020 is considerably more costly then my 2016. I was quoted 42k fully loaded off road 4x4.

I have zero opinion for anyone else - What we can do is give facts and actual experience and let people educate and decide for themselves.

So that's why I posted my actual experience take what you want from it. Any questions PM me.

 

I also leased, paid the taxes and fees up front (about 2k) and got 4k off the asking price of my 19, 36mo/36000 for $207/per. We have a 15 year old son and costs are going up with his age...so we used the low truck payment to work ahead at a time where we needed more monetary flexibility.

 

Yeah and no interest to write off on your taxes either.

 

I'm perfectly fine with you thinking this way. But, please do not try to convince other people that your idea is the only answer.

 

And I’m not sure everyone understands how a lease works. You pay interest, called money factor in leasing, around 3.5-4.5% on Tacoma, depending on the trim and location and monthly incentives. And you pay the depreciation over the term of your lease. It’s not that different from buying. But your payments are significantly lower during the term of your lease. At the end of your lease, you have the option to the buy the vehicle. Tacoma’s don’t depreciate as sharply as most vehicles. So the depreciation portion of your payment is much less than it is for the vast majority of 40k dollar vehicles.

Let people do what works for them

 

Adding to that. The MF or interest rate is only applied to the depreciation amount(+-$10k on a 3 year Tacoma lease) not the entire cost of the truck.

Just as an example, on my wife’s Grand Cherokee the MF is equivalent to 0.5% apr. So on that lease we are basically only paying depreciation and tax. I’m not sure what was going on that day in the finance department, but even paying cash would have only saved us a few bucks on that deal. And purchase/financing would have cost far more.

 

If your going to lease nothing down 300 a month and it’s worth it

 

I'm all for people doing whatever they want to, because it's their money and not mine, I'm just stating facts. Leasing a vehicle is a bad deal for the consumer.

 

Why is it a good deal to rent a truck for $300 a month and then you give it back to them and you have nothing to show for it. And if you're over the amount of miles they let you drive, you pay big.

 

I think we’ve been over this already. You don’t have to give the truck back. Think of a lease as a loan with the option to just walk away or cash out in the middle.