$75 month lease 4x4 SR DCSB

I went into the local dealership to get my 25000 mile service and they are advertising a $2,500 down $75 a month, two year lease. This is for a 2020 SR four by four Tacoma double cab. It is through u.s. bank and it is a 10000 mile lease. Or you can do $178 down and $178 a month.

Or you can buy it for around $27,300. These are on trucks that have a MSRP of 33,683. In 2018 I bought new the 2018 version of this exact truck for $29,500.

 

I read that as you can SAVE $75/month, not that that’s what the lease is.

 

Yeah not the best grammer. But it is $2500 down $75 a month or $178 down $178 a month for a 10,000 mile a year, two year lease. Also is shows a SR5 in the ad. It is for the steel wheel SR.

 

I’ve never leased a vehicle but that seems super cheap

 

Wow that is amazing for a 4x4. But 10000 miles over 24 months, they are betting people will go over that.

 

Its likely 10,000 miles per year.

 

That is less than my electric/gas bill. Heck, it’s less than my monthly coffee bill.

Not bad as long as it’s true and there aren’t any fudged numbers or very specific to one VIN that they no longer have in stock.

I know people here raise an eyebrow to leasing because Tacoma’s hold their value but that’s actually what makes them so cheap to lease. Food for thought.

 

Not bad but you can definitely do better. Look at the lease hacker forum. There is a broker I believe in PA that has done some 4x4 SR leases with a couple hundred dollars out of pocket and a little over $100 per month. Yes the payment is more but with the MUCH lower drive offs the overall cost is much lower.

 

Need the deets, for a friend. Lol.

 

I'm not a big fan of leasing vehicles but it seems like an awesome deal. It's a little sketchy with them showing an SR5 in the photo and not an SR.

 

Uh, what’s it cost before the rebate, and how far into the lease do you get it? I see “after rebate” in fine print on the bottom...

 

Everything is going on COVID sale! If you have a job and are still working... Buy, Buy, Buy!

 

Just make sure 10,000 miles is enough for you.

 

I went back and looked at it appears the Tacoma leases are not as good right now as they have been the last few months. I am willing to bet they will get better again soon though. The only issue is stock may be low on that specific model truck. This one from the dealer is not too bad right now. They are getting to that number the same way the brokers are, taking advantage of Toyota’s rebates and US banks inflated residuals.

 

What this dealership is doing is they are putting their leasing through US Bank instead of Toyota. It is also a 10,000 mile per year lease.

 

They are also doing $178 down $178 a month.

 

From their website:

New 2020 Toyota Tacoma 4X4 SR Double Cab 5’ Bed V6 AT; stock #T00943X. MSRP is $33,683. Gross cap cost $32,757. Lease terms for 24 months. 10,000 miles per year. $178 due at signing, plus tax, title, $1,500 Toyota Customer Cash and license. $199.50 admin fee included. Or $2,500 down due at signing, includes first month’s payment of $75, plus tax, title, $1,500 Toyota Customer Cash, license, and $199.50 admin fee. No security deposit required. US Bank Lease. Buyer must qualify for tier 1. Some restrictions apply. See dealer for details. Prior offers excluded. In stock units only. Offer ends 4/30/20.

Edit: The stock number matches it to this one.

Edit 2: Tier 1 looks to be a credit rating of 700+.

 

That looks like a very good deal for a lease. They are banking on a very high residual value. Considering the current economic conditions it is a huge gamble. There is going to be a glut of used cars since nothing is selling now because the car auction sites are shutdown. I would expect prices to drop unless there is another 'cash for clunkers' govt deal. Looking at the numbers they are getting $5700 for two years with 20K. That works out to 28 cents per mile.

 

With $2,500 down, total out of pocket cost per month when averaging over 24 months is $179.16 a month

 

This is my exact thought. I am thinking that the bank doing the leasing still has an assumption of a very high residual. This high residual may or may not reflect the current reality. I bought a camper shell last week. The guy at the truck camper shell place told me about the overflowing auction lots.