Those who leased - what money factor did you get?

Looking into a 2016 Inferno TRD Off Road for a 36-month lease. Trying to figure out if I can or should negotiate the money factor - .002, which equates to an APR of 4.8% or so. Any of you who leased able to take a quick peek at your contract to see if that's normal? They had written up another contract for me on a different truck a few days ago and I honestly can't remember, but I THOUGHT I saw .0018 on that one. I assume your credit affects that number, and then there's a percentage that the dealer gets. I can't seem to find current rates for leases. Trying to figure out if they changed it on this new truck to mask a "great deal".

 

Search forum for lease info there is an entire thread on this maybe 10 pages long. MF is set by manufacturer. It can be paid down with MSDs.

 

TIP: The first step to this process is to negotiate the selling price of the vehicle. That'll greatly effect your lease price. Start with a Consumer Reports (about $15) to find their wholesale pricing and try to get as low as you can. Avoid letting them know you plan on leasing until after you've settled on price.

 

Thanks smitty, I'll look up that thread. Mountainwolf, msrp is $36,800 or something like that. Negotiated price is $33,300 so I feel good about my price. TRD off road with tech package with JBL, tonneau, exhaust tip, tube steps or running boards, tow, d rings. It's pretty loaded. I just want to make sure the money factor is right. If they did change it that equates to about $12 a month which isn't that big a deal, but still.

 

Gives me a great starting point when getting my truck this month.

 

That's a great price if 4x4! Good negotiation skills!

 

Current MF from Toyota Financial is .002

 

It's 4x2.

 

FWIW, I just did the True Car value and it said MSRP $36,823 - average paid $36,408 and exceptional price says less than $34,600.

Positronik, thanks for that info - that's what mine is set at!

 

We negotiated a purchase price down to 1000 below invoice for a new 4Runner for a lease. Don't necessarily buy into the fact that Invoice is a hard target.

 

Do max MSDs to lower money factor.

What residual % did they give you?

 

MSDs? Not sure what those are. Residual is $26,513. I figure in 30 months or so when I'm ready to do something else the truck will be worth around $30k, so I should have some money to put into whatever else I get.

 

Multiple Security Deposits: read through this thread https://www.tacomaworld.com/threads...-everyone-i-know.391551/page-11#post-11524559

 

Multiple security deposits.

It will lower your money factor and you get it back at the end of the lease. It's a win win for you.

 

Thanks guys!

 

My lease is for a 2016 Off Road, Double Cab, Short Bed with the Premium/Tech and V6 Tow package. I paid MSRP, which was at $38,750. and put $5,000 down. I'm now paying $290 per month for 2 years. Did I get a bad deal?

 

Yea...kind of. But oh well

 

Good price you negotiated to, kudos

 

Leasing is not a right option for Tacoma, you will be paying high interest (money factor) some where in 4 or more.

 

for leasing $30 for every $1000.