Leasing TRD Pro

Selling a car you lease is not different than selling a car you finance. Mods only come into play if you turn it back into the leasing company.

 

Let me introduce you to your new best friend lease hacker
Learn how to use it and what it means and save some $$$
You should definitely understand moneyfactor to interest rate conversion in your head before you walk in to do your deal. @PROseur makes very valid points. The objective in a lease is different than a purchase, you are trying to give up as little of your money as possible. That means 0 down if you can and lowest payments. Security Deposits (you get them back) and pre-pays are tools to reach that goal - to give up as little of your money as possible. The reason for this? You are essentially renting the vehicle in the interim. Wouldn’t you want to rent it as cheaply as possible?

 

I was talking about when I sell the truck in 10 years or so because I don't want to have to rebuy mods when I don't have to

 

Most certainly. Leasing it as cheap as possible is the objective. I have a (somewhat) limited understanding of moneyfactor. I’ll have to check out leasehacker. Thanks!

 

Yea, I realized I didn’t quite say that as eloquently as I wanted. With both transactions, you want to save money... but with a purchase, putting money down is beneficial, as you are reducing the debt load. With a lease it’s typically ‘lost money’ to the dealerships favor.

 

It was well stated. I’m finding the leasehacker website extremely helpful. Indeed, the less down the better. Thanks again!

 

You don't need to read any book. You just have to develop that killer instinct. You walk in to any car dealership knowing they are going to try to screw you over every which way. It's YOUR job to look out for YOU. To hell with their profit, laugh at the salesman when he says "I'm barely making anything on this deal, my poor kids will starve"......look that son of the bitch in the eye and say "so what? I've got a family too, why the hell should I care about yours when you're trying to take money away from MY family". To save yourself a lot of time here's what you do, when they bring all that paperwork and fancy talking back to you don't sign anything. You just write down what you'll pay, how many miles you want for 36 months and put 0 for money down and slide it back to them and sit back in the chair and say "you have 2 mins to make it happen or bye." Don't feel sorry for these people. They're crooks, 99% of them are and the ones that aren't I never get to meet anyways, I just hear stories about.

 

Which dealership did you end up with?

 

Oh, I have absolutely zero sympathy for car salesmen that say “I’m making nothing on this deal”. Never have, never will. Leasing is just new to me. When it has come to negotiating for a cash or finance purchase I pursue what I want to pay very aggressively, and I’m never worried about walking out otherwise I’d have left today with a TRD Pro lol. Traveling for the right deal is something I’m willing to do as well. I should’ve familiarized myself with some of the terminology a bit more before heading in today though.

 

Penske

 

So we leased our 2018 Sport. Had a trade in so now we have a new leased truck with no payments for 36 months (trade-in covered all leasing payments and fees). My wife's thought is why finance a vehicle with a 3-4% interest rate, when we can just lease the vehicle, then save those payments over the 36 months and pay the truck off with a cash payment when the lease is up? I plan on keeping the truck for a while (last truck had for about 7 years). Essentially we have a 0% interest loan for 36 months.