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Leasing: Good Deal or Not?

Discussion in '3rd Gen. Tacomas (2016-2023)' started by Matt1stGen, Jul 2, 2019.

  1. Jul 2, 2019 at 4:39 PM
    #1
    Matt1stGen

    Matt1stGen [OP] Member

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    I can leave a 2019 TRD OR 4x4 with Premium Tech package for $288 a month after all the fees and tax. I would buy this lease after the 36 months is up. I drive 18,000 a year for work alone.

    Is this a good deal?
     
  2. Jul 2, 2019 at 4:41 PM
    #2
    Siblue

    Siblue Well-Known Member

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    Depends. What are the fees and tax?
     
  3. Jul 2, 2019 at 4:42 PM
    #3
    1911tex

    1911tex Well-Known Member

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  4. Jul 2, 2019 at 4:42 PM
    #4
    Matt1stGen

    Matt1stGen [OP] Member

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    They add $22 a month
     
  5. Jul 2, 2019 at 4:43 PM
    #5
    Matt1stGen

    Matt1stGen [OP] Member

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    I like the lower payment now instead of the higher one for buying.
     
  6. Jul 2, 2019 at 4:43 PM
    #6
    Siblue

    Siblue Well-Known Member

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    Zero for drive off and $310 a month is a great lease.
     
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  7. Jul 2, 2019 at 4:46 PM
    #7
    Matt1stGen

    Matt1stGen [OP] Member

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    The $288 is including the $22 tax and fees. So basically $266 before fees and tax.
     
  8. Jul 2, 2019 at 4:47 PM
    #8
    Matt1stGen

    Matt1stGen [OP] Member

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    $29,000 residual
     
  9. Jul 2, 2019 at 4:47 PM
    #9
    Siblue

    Siblue Well-Known Member

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    Not sure why you haven’t done it yet. The forum is not gonna agree but as far leases go that’s excellent.
     
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  10. Jul 2, 2019 at 4:48 PM
    #10
    Rustytaco71

    Rustytaco71 Well-Known Member

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    If paying tons of money for something you’re not gonna have a return on sounds like a good idea to you, then yeah it’s great!:cookiemonster:
    Why not just buy it now?
     
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  11. Jul 2, 2019 at 4:49 PM
    #11
    Matt1stGen

    Matt1stGen [OP] Member

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    whatstcp said:
    No, just buy it instead if you're planning on buying anyways. Haggle multiple dealers for lower price, apply for a loan through a credit union and then take that loan to the dealership and challenge them to give you a lower interest rate after you haggle price and option
    I like the lower payment now instead of the higher one for buying.
     
  12. Jul 2, 2019 at 4:51 PM
    #12
    Clymber

    Clymber Well-Known Member

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    If you lease no mods until after lease is up. My wife gets a new car every 2 years so a lease for her is great and her round trip for work is 20 miles.
     
  13. Jul 2, 2019 at 4:51 PM
    #13
    Rustytaco71

    Rustytaco71 Well-Known Member

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    Put some money down. Don’t worry about mods right away, the best mod will be owning your truck and not having payments. Do a 6 year loan for smaller payments if you’re in a scramble a certain month and pay it off sooner. That’s what I did. I bought mine on 10/17 and it’ll be paid off by next fall for a total of 3 years on the loan.
     
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  14. Jul 2, 2019 at 4:51 PM
    #14
    Matt1stGen

    Matt1stGen [OP] Member

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    What if I buy it out after so I mod it while leasing
     
  15. Jul 2, 2019 at 4:52 PM
    #15
    Clymber

    Clymber Well-Known Member

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    Not sure what mods will so to ypur leaae agreement
     
  16. Jul 2, 2019 at 4:54 PM
    #16
    Ronzio

    Ronzio Well-Known Member

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    Leasing is a great way to get into a vehicle you can’t afford to own...residual plus the monthly payments will be your cost should you decide to buy that lease out at the end.
     
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  17. Jul 2, 2019 at 4:55 PM
    #17
    hazey

    hazey Active Member

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    You can't mod a leased vehicle because it isn't technically yours.
     
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  18. Jul 2, 2019 at 5:02 PM
    #18
    daddy_o

    daddy_o Well-Known Member

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    This is not true. You can mod as long as it can be returned to stock should you turn it in at lease end. Even that is not 100 percent true, certain mods they will overlook or not even know it was a mod. I have leased and modded with no issues whatsoever.
     
  19. Jul 2, 2019 at 5:04 PM
    #19
    Pro-Taco

    Pro-Taco Well-Known Member

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    Basically you'll be buying this truck for almost $39,000. I've been leasing cars for over 20 years and it makes sense only if you drive under 15k miles per year and have a have a business to write it off as expense. Your miles are too high for the lease. If you decide not to keep it at the end you'll have to fork out $4500 in mileage penalties (12k per year lease), or $2300 if you go 15k miles per year. If you're planning on keeping this truck it can be had now for $36000 if you shop around.
     
  20. Jul 2, 2019 at 5:14 PM
    #20
    12TRDTacoma

    12TRDTacoma Powered by Ford, GM, VW, and Mercedes

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    Both of these statements are not true.

    My truck was the way it is today during my lease period. The only penalty I had was not being able to finance through TFS. The reasoning was because they couldn't legally sell me a warranty with the truck modified the way it was. Which is fair in my eyes. I did a little bank shopping for all of less than a day and a credit union picked me up with the truck as is and I never had to touch a thing on the truck as far as stock reversion is concerned in order to finance mine during or after that process.
     
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