Lease offer???

Yeah that is freaken crazy,talk about being taken to the cleaners.

 

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tell us more about this “lifetime” warranty

 

Lifetime unlimited mileage warranty. Powertrain, all internally lubricated parts. Parts and labor.
The dealer does not have to do the service work. You just have to have receipts where it was done according to the owners manual.

 

I am not sure how there are 28% leases in USA. That seems so wrong.

I leased my Tacoma at 3.8% over 3 years. Given same rate as finance I would lease a Tacoma every single time. I would only pay cash or finance if you know for sure you're keeping it a long time.
Some lease advantages:
It's a long test drive. If you have issues with it, you can return it at lease end.
If you smash it up and end up with a massive carfax claim, who cares, return it.
You are paying less per month each month, frees up cash flow to make more money elsewhere.
Tacomas have super high residual compared to other vehicles, makes them perfect candidates for a lease.
At lease end, you can return it, buyout it out, buyout it out and sell for more than the residual (this is almost guaranteed with Tacoma). I sold my leased Tacoma after 2 years and made back over $2,000

Leases are misunderstood as some sort of rentals. They are simply finances on the portion of the truck you get to use, nothing more nothing less. Of course when someone tries to lease one at 28% it looks terrible. Try financing a Tacoma at 28% rate and see what happens.

 

This was very helpful thanks a lot guys!

 

The advantages to leasing are lower monthly payments, you have a vehicle that is within warranty the entire time you're driving it, the ability to switch vehicles every few years. Also if you get in to an accident in a leased vehicle, all you need to do is get it fixed. You turn it in at the end of the lease and you don't have a diminished value like you would a trade-in.

As to your point about trade-ins being worth more after 3-4 years; this isn't typical. The pandemic has caused an inventory shortage. But nonetheless, if you lease a vehicle, you can trade it in at anytime the same as if you purchased it. As long as the lesser gets the payout amount, they don't care who it comes from. So if your leased Tacoma has a buy out of $25k and Carvana offers you $28k, you can sell it to Carvana, pay Toyota financial $25k and pocket the extra $3k.
Same is true when a lease is up, you don't have to do a lease return. If the vehicle is worth more than the buyout at the end of the lease, you can trade it in and use the positive equity towards a new vehicle.

There are no gotcha clauses in a lease. Just like a purchase, you know what you're getting in to. It's only those who are uneducated and naive that believe leasing is a no-no. Just because you're not familiar with something doesn't mean it's a terrible thing. What works for one, may not work for another and vice-versa.

 

With the resale values on these trucks I would suggest buying a truck then selling it when you wanted to

 

No smart person buys a Tacoma brand new just to sell it. Even those who think leases are bad financial decisions would say this is worse.

 

I feel like you can’t really go wrong with either leasing or financing when it comes to Tacomas because the resale value on these are ridiculous I’ve seen 2016’s selling for more than the residual value I was given

 

You can't go wrong leasing any vehicle, if it meets your needs.

It does make sense to lease vehicles that are less reliable, with lower residuals (every German car) and purchase those that are more reliable with higher residuals. I've leased 5 Audis, but purchased my Tacoma.

 

If you really understood leases like you’re claiming to, then you’d also understand that there’s no difference in leasing a high resale Tacoma as there is a low resale “German” car. You still pay the difference between purchase price and the residual. It just means leasing one of those low resale cars is going to net you higher payments.

 

Big difference is demand if you need to unload the lease. Tacomas have higher draw and demand, so if you lose your job 2 years in, its no issue offering the lease away. Unloading an audi a3 is nearly impossible.

 

Just for comparison OP, I leased my 2020 Limited, sticker was just over $44k. I chose 27 months, 27k miles. Sign and drive, nothing down, $358 per month.

I wanted a 2 year lease, at the time, 27/27 was the bang for the buck so that is the route I went. Love my limited but I like to switch vehicles often....not sure what my next truck will be but if it is another lease, Tacoma or Ranger. If a buy, Tacoma, hands down.

 

Thanks there’s a lot of pros and cons when it comes to leasing some people are for it some against it I guess I just have to figure out what will benefit me the most

 

I got a maxed out (except for front trail cam) TRD 2020 OR double cab (stocker 45k) for $351 a month zero down through US bank end of April. 2 year lease.

Residual is $33k. I feel like I got a pretty great deal, total of payments is a little over 8K, truck was $45k sticker so realistically I think ill be able to make money on this truck when the lease is up.

A lot of folks dont believe me when I tell them im only paying $350 a month and getting a better deal than any financing would have given me.

Ill probably be able to trade it in for more than the lease residual. I did have to pay a broker $500 but it was worth it.

 

How would you go about going to a bank instead of leasing through toyota?

 

can you explain how the brokerage works ?

 

I’ve said it in many other lease threads but I will say it again. If you cannot afford to buy the vehicle (not saying you, just in general) then you cannot afford to lease that vehicle.

 

I can afford the payments and a good amount of down payment but i obviously can’t pay the whole truck cash lol