Is your Truck paid off?

There are other factors to rates. Such as the local market, fico scores, dti.

 

This always interest me...not that you are but - most prepper types who say "buy gold buy gold" hold that gold with the idea that post governmental collapse the gold will be valuable and currency for trade. Utter nonsense. Gold has very little intrinsic value (most resided in technology). In a situation where gold might be considered currency a much more effective currency will be hmmmm idk....food? water? shelter? ammo maybe? digression over.

 

Yes paid off but does it really matter?

https://www.tacomaworld.com/threads/emp-protection-3rd-gen-tacoma.518926/unread

 

Agree. I could easily pay for it cash, but I lease it. Tacoma is a perfect lease vehicle due to low depreciation. I slowly make small payments on it while making a better return on my money elsewhere instead of having in tied up in the truck.

I leased my Tundra too and actually sold it instead of returning it. Netted me over $7,000 back since Toyota trucks have really good resale value up here. Will do the same with Tacoma when time comes most likely.

 

Paid 100% up front for a 3-year old Tacoma. Can't stand paying for interest charges or initial depreciation.

 

I've had my 2005 Tacoma 12 years. 33k new, could sell in my market for 22k in one day. If I had leased, I'd be on my 4th or 5th set of payments, with probably 3k+ due at signing each time. I would have wasted an insane amount of money leasing. I think it's not smart to lease a Tacoma. Maybe a Dodge.

 

I take truck advice from TW...It ruins my finances through mods. If I take financial advice from TW will it make my truck run better?

 

I just did some quick math. Leasing would have cost me roughly $44k more than purchasing.

 

All my leases are 0 up front. We have 2 other vehicles that are paid off. I like switching my daily driver vehicles often so leasing works for me. When you say leasing would have cost you $44k more than purchasing that's not comparing apples to apples.
A lease and a finance compared at a same length of time should be very close in total cost of ownership. Having one vehicle for 12 years and leasing a different vehicle every few years are fundamentally different decisions and not comparable.

Leasing Dodges (Ram) is a bad idea, they have bad resale value compared to the Tacoma/Tundra and you end up paying a much larger portion of the total value of the vehicle over the lease term.

 

I was comparing my situation. I can figure it again based on zero due at signing. What's your lease payment with zero down?

 

Fair enough. I think we are talking about two different things here. For example you technically could have bought a $5000 car in 2005 and today it may be worth nothing but your savings would be even greater than $44k.
My point was that leasing shouldn't cost any more than finance or cash if you compare over same term. Now if you keep your vehicles for a long time the comparison is not valid. My BMW 330 for example will probably cost me nothing since the depreciation is virtually flat since I got it 3 years ago.

 

A quick search shows zero down leases.. 36 months $436.

$436 x 36 = $15,696.

$15,696 x 4 = $62,784

$62,784 - $11000 (cost of my ownership over 12 years)= $51,784 more for me to lease.

 

I bought a new Tacoma, so we were discussing the same thing. Just saying, if you can keep a Tacoma for 12 year's and only have a $11k cost of ownership, I can't imagine a scenario where leasing would make more sense.

And your BMW 330 will cost you whatever payments you make, not nothing, lol.

People who make lease payments typically have the mindset, you always have to have a payment. Look at my situation. If you're buying a Tacoma it saves you an incredible amount of money if you don't.

 

The difference would be the delta between the purchase prices. Usually, leases has you "purchasing" at full retail vs a straight purchase, which typically cost much less.

 

I am not familiar with what discounts Toyota has for Tacoma in USA on cash purchases. There is no difference In prices in Canada between lease, finance or cash on the Tacoma. The Tundra however does have a cash incentive up here right now.

 

i.e. You can see in the "What did you pay" thread that most purchases were at or below invoice (I was slightly below invoice). When I look over the lease terms, factoring in buy out, it's at full MSRP. That would be strange if you guys did it different up there.