Deleted

Deleted

 

You're paying $14,700 total.

Add the $28,217 and you get $42,917. For that IMO you should get a TRD not SR5.

Edit: BTW, welcome to TW!!

 

Lease a TRD for that, also if you need to unload, the TRD is much easier to transfer the lease down the road.

 

42k? You should be able to lease a Pro for that amount.

 

What is the Money Factor (MF) they quoted you? Is the $300 including the MF and tax? What is the negotiated price?
Always negotiate the price of the vehicle first, even when leasing. Then see if the MF matches or beats what Toyota publishes for your region. Also verify the residual matches what Toyota has for your region.
I’ve leased a lot of cars and I would never put $3,000 down. That’s straight in to the dealers pocket and out of yours. The most I would put down on a lease is $500.

 

Ask if you didn't pay that $3000 down and instead they gave you a quote for a monthly payment to be $390 (by plugging in that $3k over 36mo), would they accept? If they won't budge and want that $3k down, if your current budget is that $300/mo, then do it.
Yes, over time you're paying a little more in interest, but it's the compromise to get $300/mo payments...

Is there a sharp jump if price if you did consider a TRD instead of an SR5?

 

That is....not good. I am paying $293 for my DCSB TRD Sport 4x4 and I only put the first month payment down.

Also, if you’re set on leasing please checkout the leasehackr & edmunds forums to understand more about the process. You’ll also be able to compare your deals much easier to others.

 

You pretty much said you can’t afford a new vehicle hence the lease. Take 3k you have to put down and buy a beater to get around in until your financial house is in order.

 

That residual at the end of lease is only good if you absloutly plan on giving it back at the end. 28k left over in 3 years means you didn't pay a lot during the lease and makes sense if you plan to jump, but will likely leave you upside down on what it's worth if you buy the vehicle out of the lease. On the 39 month lease on my 17 TRD sport, v6, 4x4, tech package, premium package, and sunroof the residual due this October is 24.5k. A SR5 and without those options should probably be the same if not lower if you think there is any chance you might keep the vehicle. Even then it's usually better to take the 72 or 75 month loan as you will pay a lot less overall even though your monthly payment will be a bit higher.

 

https://m.youtube.com/watch?v=XThjwTZEHrY

This might help.

 

You can do better, on a TRD. Shop around. And that residual doesn’t seem right on a 45k mile sr5. There are leasing forums that will run the numbers for you so you know you aren’t getting screwed. Numbers are regional

 

Bad advice. Any $3k beater is going to be VERY rough and require a lot of work to keep running. You'll never get ahead of the constant stream of costly repairs and lost weekends constantly wrenching on the thing.

I always love those peeps that pop up in these threads and say "don't finance, pay cash!" Like we all have $40k laying around.

Your best bet OP (IMO) is to start by negotiating your best price on the truck, THEN with the price in hand start working on the "how to pay for it" aspect which may include lease, finance, or whatever.

 

When he already said is financial situation is not good at the moment gong into debt is about as stupid as it gets. The point of getting the 3k Car is to get you thru the rough spot it’s not forever. And I doubt he would be putting 300 month into repairs so yes he’d be ahead. As yes a lot of people do have 40k laying around because they’re not working their ass off trying figure out how to make a payment every Month on something they couldn’t afford. Ask me how I know. But those people who like to work check to check and wonder why they have no money, stay in debt and keep buying shit you can’t afford.

 

I don’t believe he said his financial situation isn’t good, just that lease works best. Could just be easier to budget. 40 years leasing at 300 a month with almost no maintenance costs works for some people. And is it that much worse than buying a 42,000 truck every 7-10 years? Let it go, he simply asked about his lease deal.

 

$300/month = known expense that can be budgeted for.

$2500 transmission repair/rebuild at a random time that's usually the least convenient for you may or may not be doable.

$8000 engine replacement = you just pissed away $3k and now you are back to square one.

If you have any sort of liquidity that's an emergency fund. If you have assets that you could convert to cash ($40k in my example above) you would be foolish to do so to purchase a rapidly depreciating hunk of metal.

So why stress over fixing some hoopty some or all of the time when you may want to actually use your free time for things like your family? ("Not now, kids! Can't you see Dad is trying to get this thing to start?")

There's a reason a vehicle is $3k, and it usually isn't pretty.

 

Dave Ramsey is an idiot, don’t listen to anything he says.
He also has a video stating taking a 0% interest loan on a vehicle is a bad idea and not to buy a new car unless you have 0 debt and $1 million in the bank.

 

If having 0 debt and a million in the bank is idiotic, than I’m the biggest idiot. I understand that being a slave to the lender is all the rage. Good luck with that...

 

A 3k corolla is not going to cost you 300 a month in repairs, and definitely not 300 a month in repairs for 5 years, and you shouldn't buy a 40k vehicle just buy a 3 year old vehicle for 25k, will be just as reliable as a new one, and somebody else paid most of the depreciation

 

Broke people love to call Dave ramsey an idiot lol. . .his advice got me in my best financial position, no car payments, no credit card payments, he's worth 200 million dollars he's doing something right

 

Then*

OP where are you located? That’s not a good deal, most Tacoma leases can be $0 drove off. If you’re in California I can point you in a better direction for your lease.

Also take a look here before you jump into a lease

https://forum.leasehackr.com/