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Buy out lease or buy 2010???

Discussion in '2nd Gen. Tacomas (2005-2015)' started by automoto, Nov 28, 2009.

?

Buy out lease on my 2007, or buy a 2010?

Poll closed Dec 28, 2009.
  1. Buy the lease out on my 2007 AC SR5

    33 vote(s)
    39.8%
  2. Buy a brand spankin new 2010

    50 vote(s)
    60.2%
  1. Nov 28, 2009 at 11:04 AM
    #1
    automoto

    automoto [OP] Well-Known Member

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    jersey shore
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    I'm trying to figure out if i want to buy out the lease on my 2007 Access cab SR5, or try to buy a 2010, preferably a TRD off road. The buy out on the lease is about 16,300. I'm going to the dealer now to see what they have, i know they have a 2010 Silver Streak AC TRD off road for 30,500 or so.

    What do ya think i should do? I'll have to figure out the numbers as well to get a loan to buy out the truck in the event i do that. :confused:
     
  2. Nov 28, 2009 at 11:07 AM
    #2
    GTVAPSAMTIK

    GTVAPSAMTIK Well-Known Member

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    SOHAIL
    Fort Carson, CO
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    If guess it depends on if u are planning to keep it. Like I knew I will keep Tacoma for long time. Thats why I purchased new 2010.
     
  3. Nov 28, 2009 at 11:59 AM
    #3
    Janster

    Janster Old & Forgetful

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    Your buy-out amount is $16,500?

    What's the KBB value of the truck (Private & retail) ?
    What will the dealer give you in trade-in value ?

    What's the loan terms/rate for buying it out?
    What's the loan terms/rate for buying a new truck?
     
  4. Nov 28, 2009 at 12:00 PM
    #4
    Capita

    Capita Well-Known Member

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    Buy out the lease. Maybe you can sell the truck for more then your end payment is. I know if Toyota gets it, they will sell it for more then the 16300 you owe.
     
  5. Nov 28, 2009 at 12:02 PM
    #5
    LEBM

    LEBM Thread Killer

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    Yes, we need more info here to give the right advice!
     
  6. Nov 28, 2009 at 1:02 PM
    #6
    Yoytoda

    Yoytoda The Little Truck That Could

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    Big Bear,CA / Upstate NY(Saratoga)
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    well if you want to go offroading, ditch the SR5 and get the TRD offroad with ATRAC...
     
  7. Nov 28, 2009 at 1:33 PM
    #7
    HondaGM

    HondaGM Roll Tide

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    i would say buy out the lease.
     
  8. Nov 28, 2009 at 1:51 PM
    #8
    VenomTaco88

    VenomTaco88 Just Got Engaged!

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    dude save the money and keep urs trust in me buyout the lease and keep it pay it off then whatever year it is buy a new one then cuz then u will have two and u get to play with one and just drive on huh huh great idea i know
     
  9. Nov 28, 2009 at 2:01 PM
    #9
    Homewrecker

    Homewrecker Well-Known Member

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    Pasadena, CA
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    Buy out the lease, an 07 is awesome..$30,000 is a lot of money to get a back seat.
     
  10. Nov 28, 2009 at 2:06 PM
    #10
    focotacoma

    focotacoma Well-Known Member

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    Im getting there......
    I agree if you buy out the lease you could keep it cause we all know the old taillights are cooler and then if you find you want a new one just sell it and youll at least gain back what you did when you payed off your lease
     
  11. Nov 28, 2009 at 2:17 PM
    #11
    LEBM

    LEBM Thread Killer

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    The only thing is that when a lease is negotiated, it's usually for payments, and not the buy out price of the vehicle... so in the end he may have overpaid for the truck to begin with? I don't know, just speculating.
     
  12. Nov 28, 2009 at 3:51 PM
    #12
    automoto

    automoto [OP] Well-Known Member

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    ok so;

    Dealership A: 2010 TRD Sport Access Cab $28,100 w/ a $388 per month lease payment with $2000 down. If i wanted to finance it was like over $800, which is ridiculous.

    Dealership B: 2010 TRD Off Road Access Cab w/ a $369 per month lease payment with $2000 down. Guy was saying he could probably get it down to $350, but this deal would expire monday because its the end of the month yadda yadda yadda.

    I have to wait till monday to call the bank and see what kinda numbers they can come up with for a loan to buy out the lease on my current truck.

    If i buy out my truck i don't have to worry about voiding warrantees etc, because there isn't one, and i will own it. But if i lease another vehicle, i don't want to have to deal with the bs of taking it to the dealer with a lift kit etc, and having them say well ur warrantee is voided b/c of the aftermarket stuff, and techinically i don't own it.

    So i guess i have to wait till monday to get the final number to really do a cost comparison. I love the off road ed. and always wanted one, and would probably buy it over the sport. :confused:
     
  13. Nov 28, 2009 at 3:59 PM
    #13
    Flyinhigh

    Flyinhigh Well-Known Member

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    how many miles on your current truck?
     
  14. Nov 28, 2009 at 4:01 PM
    #14
    automoto

    automoto [OP] Well-Known Member

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    37,000 smiles
     
  15. Nov 28, 2009 at 4:08 PM
    #15
    Flyinhigh

    Flyinhigh Well-Known Member

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    i would definitly keep the truck you have now
     
  16. Nov 28, 2009 at 4:12 PM
    #16
    snoope

    snoope Well-Known Member

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    automoto,

    If it is leased through Toyota,beat the he!l out of them to finance the buy-out loan...Thats what I did.

    Did all the pre-work for a New purchase then decided why,I like my '02 ??? Toyota was 2 pts lower than my bank and none of those stupid "Ad on" charges showed up..

    Just my 2 cents...Good luck;)

    S
     
  17. Nov 28, 2009 at 4:29 PM
    #17
    doodle_cakes

    doodle_cakes Well-Known Member

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    Wait...you can't lift a leased Tacoma w/o voiding the warrenty??? I was planning on lifting mine in a few days.

    @topic - I would say stick with the lease/buy it out. I don't know what your job is, but given the shitty unstable economy I wouldn't be looking to drop that much on a truck with how uncertain things are..especially since Toyota isn't giving trucks away for almost free like the domestics are.

    You will be able to sell it for more as long as she is in good shape I would assume.
     
  18. Nov 28, 2009 at 4:30 PM
    #18
    Janster

    Janster Old & Forgetful

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    Whatever you do - don't get out of one lease and back into another lease.

    For someone who's asking about 'cost' - then another lease is NOT the best thing to do.

    Either buy out the truck ....or BUY the 2010.

    Don't get roped into another lease.
     
  19. Nov 28, 2009 at 6:21 PM
    #19
    nharkey85

    nharkey85 2yr Old Co-Pilot

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    Credit must be horrible to get a payment of $800 on a $28000 loan. I financed $36000 with no down payment and OK credit (low 700), payment is less than that.
     
  20. Nov 28, 2009 at 6:36 PM
    #20
    LEBM

    LEBM Thread Killer

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    If you can't buy the 2010, I'd say stick with what you've got. In a case like this, look at the reasons why you shouldn't do it instead of why you would want to. It sucks, but in the end, maybe it's the most responsible thing to do!
     
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