$350 for AC I4 vs $400 DC

Using the numbers in his post, the residual is 16k.

($40K - 60*400)

12k is "roughly, almost" 16k.

 

Honestly I don't think your math is going to work out the way you think it is. Don't forget with a lease the dealership still owns the truck and at the end of the lease they can put just about any price on the truck they want to. Just pay attention to the lease terms and get solid confirmation on the vehicle's buy out price. Even if the dealer tells you "With typical vehicle depreciation you are looking at paying roughly $16,000 at the end of your lease for the vehicle." Do not believe him, he is lying to your face. Especially if the lease has words that state "fair market value." As others are pointing out and I have seen for my self 04 Tacomas are still selling for $17-18K USD with 70K miles on them. I just do not see how the dealer is going to lease you a vehicle that is going to cost less than financing it, especially when dealing with new vs. used. I can also tell you that your interest rate numbers are way off unless your credit is over extended.

 

and you guys have to remember... yeah its only 50 bucks more a month
but the lease is 2 years longer

 

No, the buyout is $15k and some change. I rounded off to $16 000. Im not some idiot kid you know, our accountant at work is the one who went over the numbers for me and told me what would be better. The buyout is a set price the day you lease the truck. I think the rules in the states are MUCH different then here in Canada, because so many of you feel so strongly against it, but everyone I know who buys Tacomas here leases and swares by it.

 

AC V6?!!!

 

Does the OP drive in snow ?

 

Free Time is something you do have plenty of when you don't make questionable financial decisions thoughout life. I understand youth believes they know all the answers. Been there done that. Learned EARLY I did not.

IF one person gains some insight from my posts and gains some benifit, it is worth the angush from others positive . It IS the only way to think if you are me. As with people who refuse to buy a used vehilce is the only way they think.

People have their own value systems, philosophy, and methods. Forums are places where you share them. Some learn from others. Some don't. I don't come here to agree with others or seek agreement. People can disagree/ Some become disagreeable in the process. Meh.. Just to share and read other opinion. Maybe learn something. Maybe not.

Everyone is entiled to share their way of thinking. Especiall when sought out by an OP

 

Buying used is not a good option for me though. Here they are stupidly overpriced and with the massive amount of road salt and salt in the air from being on the Atlantic ocean makes the underneath horrible in a couple years if not taken care of right

 

Yeah I understand Canada is a different world when it comes to these trucks and commerce. In the end it is your decision to make and you more than anyone knows what the best choice is for the conditions and resources at hand, Good Luck.

 

So buying a Kia isn't a questionable

 

That is confusing to me as well..becasue

1. The cost of money doesn't change with a lease or a loan . The entire amount is still being tranferred to the dealer. and owed...Money factors = interest rates.
2. In the states people are claiming it's tough to find a 5 year old DC V6 AT Tacoma as described for $16,000. (Apparently all of them are $3000 less than new.....) Anyway LOL That same Tacoma considering prices I have read here on Candian prices would be more!! So how can the "residual be lower ion Canada than in the States on a more expensive truck at the outset?

 

I know. Its such a hard decision to make though. Im taking my time but I dunno if I can wait much longer

 

The lease buyout has NOTHING to do with what the truck is worth. Its based on whats left on the truck if you were to buy. Which is about $16 000. You save money on leasing the first amount ($24 000) at a lower interest rate, then pay it out at the end.
Hell, you could sell that truck used for like $22-23k right now around here easy lol. Used prices are crazy. Thats why the dealer wants you to lease and gives a better rate. They WANT to get the truck back and make another $5000-10000 off selling it used

 

Indeed it is. Spending a lot of time researching the vehicle. Reading every major review and talking to owners. I don't buy a name Good or bad. I buy what buyers have come to accept as good. KIA and HYUNDAI have come a long way. Their reputation for quality has increased to the point where they are making serous challenges to the status quo while companies like Toyota are struggling to hold on to theirs.

I may or may not end up with it. But I certainly did not discount it becasue of what it may have been in 1994.

This may surprise you but I was more than a little hesitant paying top dollar for a new Toyota and in fact did not. Our "certified" RAV is using a qt of oil in less than 1000 miles with 53K miles......Not inspiring a lot of confidance to buy another. Toyota sales have dropped while the Korean makers rise. They are worth a look for sure. But I understand you are opining based on a knee jerk reaction to the "name" and have done zero research into the brand.

 

AH OK I get it..you are paying for most of the truck in the lease.....which is a GREAT deal for the dealers if people turn those vehicles in at the end of the lease. No on in their right mind should turn a truck in that they have that much equity in. So basically you are buying a truck on a longer term than an initial bank would offer when you lease then buy later. Wow what a great way of doing business for the dealers. Smart Dealers and banks up there. That would never fly here with American buyers becasue Anericans lease to get far lower payments and the residual value is likely 50% which would ne $15K on a $30K truck. I undertstand now.

 

Yes an actual title. Probably the first and last title you will ever see..

like duuuuudee...MUST we be subject to your YouTube "listen to my Ricer Fart can" with every post...."and here's what it sounds like going by" VarrrrooooooommmSplat splat...cough cough..

 

lol no I understand the different views being so strong. Ya, to find someone who trades the Tacoma back in is like winning to lotto. Nobody ever does unless they get a smoking deal on another used one and over the KMS or something.
Basic lease would be the 400 a month for 5 years, $16000 something buyout, you can buy it out anytime of the lease, interest of 1.7%, you can do anything to the truck as long as its back to stock when you trade it in (never would), and everything else is basically same as financing it. Sucks they dont offer that down there.
So to me, it keeps the payment as low as possible so I can still double our mortgage payment and put the extra 10% on every year, and in 5 years I will own my house fully, and then deal with the $16k for the truck.

 

I am VERY proud of ya.........

Pay it off... then talk to me... I KNOW YOU LIKE YOUR EXHAUST!!! You LOVE your exhaust. Enough to take the time to grab a buddy and video a few passbys for the whole world to enjoy....or not.

Oh and I did not "Show Off" my title in my sig I was ASKED for it and produced it. Simple as that. Although the party asking could not hold up his end of the deal......not suprised.