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Need advice about leasing

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Toyhauler, Jul 24, 2008.

  1. Jul 24, 2008 at 6:22 PM
    #1
    Toyhauler

    Toyhauler [OP] Well-Known Member

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    Hey guys/gals I need some tips on how to lease an 08 tacoma access cab prerunner and get a good deal. I think that a lot of people lease cars and only look at their monthly payments as a factor, but there has got to be more than that correct?

    I feel that I am actually pretty good at buying cars. My last couple of cars, I bought brand new and after talking to several people, I have gotten one of the best pricing that anyone can get without know an insider.

    So my question to you veterans is, how do I got about negotiating a lease?

    Do I do it the same way that I do with a car?

    Meaning that I will first negotiate a OTD price (or selling price) and then tell them that I am interested in leasing?

    I know that some dealerships offer "specials" on leases, but can do specials be lowered or is it pretty much fixed?

    Again, I have never leased a car before, neither has anybody in my household, so I am completely new to it.

    Thanks
     
  2. Jul 24, 2008 at 6:25 PM
    #2
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    Welcome to TW! :D


    DONT LEASE! :cool:
     
  3. Jul 24, 2008 at 6:25 PM
    #3
    TheMaster

    TheMaster Born to Ride

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    Where are you located and what is the lease rate?
     
  4. Jul 24, 2008 at 6:26 PM
    #4
    TheMaster

    TheMaster Born to Ride

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    I disagree.
     
  5. Jul 24, 2008 at 6:28 PM
    #5
    Toyhauler

    Toyhauler [OP] Well-Known Member

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    True, if you plan on keeping the car you buy for atleast 5 years. I on the other hand have the tendancies to buy a car and sell it after two years. Based on my calculations, I think it would be better for me to lease instead of buy, right? Unless I'm missing something, please let me know.
     
  6. Jul 24, 2008 at 6:29 PM
    #6
    Toyhauler

    Toyhauler [OP] Well-Known Member

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    I'm in SoCal. Not sure what the lease rate is here or honestly, don't really know what a lease rate is haha. I'm so used to just buying a car, but have now realize that it would be better for me just to lease.

    BTW when do the 09's hit the showroom, maybe I can get a good deal when that happens.
     
  7. Jul 24, 2008 at 6:31 PM
    #7
    WilsonTheDog

    WilsonTheDog Kylie's dad

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    Magnaflow 12576 muffler & chrome tip, Westin step bars, 27% tint, Pop N Lock, AFE ProdryS, bed mat, Husky liners, D-rings added, Access Literider tonneau, Pioneer 4-ways all around, GY Wrangler Duratracs 265/75/16, 5100's @ 1.75", 1.5" AAL
    ^That would be the ideal lease situation. I should probably lease, too, because I seem to buy every two years but this time I'm glad I didn't because I have a child due in Oct and I'll probably end up with this truck for quite a while. So, you have to take life changes into account, too.

    Check this out: http://clarkhoward.com/shownotes/category/5/28/ Clark is a financial wizard in case you aren't familiar with is radio show.
     
  8. Jul 24, 2008 at 6:31 PM
    #8
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    Ah. Your in Canada, right? I heard its better to lease up there. I have heard nothing but horror stories about leaseing.
     
  9. Jul 24, 2008 at 6:32 PM
    #9
    tacomaman06

    tacomaman06 Carolina Alliance: Enforcer

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    getting there....
    me personally, i wont ever lease again. but my word of advice to you is this, and you probably already know....but never go into a lease and have alotta negative equity in whatever you are trading in or whatever. bad,bad way to to.....i know from experience. other than that, if you are gonna trade every 2 or 3 years, then go ahead. but if you are gonna want to keep the vehicle for a good length of time do not lease....just buy outright......cause leasing is like renting something, then you got a big chunk at the end that you will have to make payments on if you then decide to buy outta the lease.
     
  10. Jul 24, 2008 at 6:32 PM
    #10
    TheMaster

    TheMaster Born to Ride

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    Yes, you've got the idea. Negotiate as if you are purchasing and then switch however you must clarify the interest rate difference between purchase financing and lease financing. Normally, lease financing is higher.
     
  11. Jul 24, 2008 at 6:39 PM
    #11
    Ridgerunner

    Ridgerunner Well-Known Member

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    Pride of Ownership I say!! Leasing is RENTING!!! Take Tacomaman06's wisdom of personal experience into consideration please! He was one unhappy cat with that deal:( IMO own your ride! It's a better satisfaction too-there's some of that.
     
  12. Jul 24, 2008 at 6:41 PM
    #12
    jhodge83

    jhodge83 Any dog under 50# is a cat and cats are useless... Moderator

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    wat?
    my 09 is already being modded for the trails. people in the southeast have had them for weeks
     
  13. Jul 24, 2008 at 6:47 PM
    #13
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    amen!!!! :d
     
  14. Jul 24, 2008 at 6:50 PM
    #14
    TheMaster

    TheMaster Born to Ride

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    The lease rate is the same as the interest rate used to calculate purchase financing. Lease rate is used to calculate lease financing. Dont walk in and tell them you want to lease a vehicle and your monthly payment budget is $XXX. Beat them down as if you want to do an out right purchase and when you are satisfied with the purchase price, convert it to a lease. You might piss of the sales guys but its your money and not theirs. If you run a business, your lease payments may be a tax write off.

    With rising gas prices, leases are a prudent choice for trucks since you cannot predict depreciation value of gas guzzlers the way gas prices keep rising. Also, alternate fuel vehicles should start coming out over the next little while further affecting resale value of gasoline vehicles. It may be the best time to lease due to these conditions.
     
  15. Jul 24, 2008 at 6:55 PM
    #15
    TheMaster

    TheMaster Born to Ride

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    I disagree again. If you really love the vehicle at end of lease, you can opt to buy it out. You still have pride of ownership even if you are leasing it since its your vehicle for that period.
     
  16. Jul 24, 2008 at 7:07 PM
    #16
    Ridgerunner

    Ridgerunner Well-Known Member

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    I got you:) it's just my feeling, my opinion. I personally wouldnt enjoy my truck knowing it really was somebody else's truck and not mine, that's all. my view on leasing is it is mainly effective for company fleets, or some of these folks who dont care about pride of ownership-they just wanna use the car like a dishrag then turn it in for another!!
     
  17. Jul 24, 2008 at 7:10 PM
    #17
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    With a lease, you never build equity in the vehicle. You are esentially "renting" the vehicle. Yes, you will never end up "up side down" on the vehicle, but If you have a decent interest rate on a Tacoma, odds are in 2.5 years, you will have some equity. For a business owner (at leaset in my state) you can write off 60% of the depriciation in the first year when you are buying the vehicle. There are also mileage restrictions in a lease. If you go over, you are charged accordingly. Any modifications you do can adversly affect the value at the end of the lease as wel.
     
  18. Jul 24, 2008 at 7:11 PM
    #18
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    Well, pride of renting anyway. :D
     
  19. Jul 24, 2008 at 7:17 PM
    #19
    TheMaster

    TheMaster Born to Ride

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    Finally, I agree with you on the equity point. Leasing is not for everybody. I would consider a lease since I tend to abuse (work them to the max) my vehicles. So, I replace my vehicle often.
     
  20. Jul 24, 2008 at 7:19 PM
    #20
    chris4x4

    chris4x4 With sufficient thrust, pigs fly just fine. Moderator

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    Then wouldnt you be responsible for any damage and/or exessive wear? I know you are in the states.
     
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