What do you think of this lease quote?

Wrong. He doesn’t work for the dealer. He has negotiated these deals with his dealer on behalf of his customers. You will not get a better deal than what is listed. But hey if you want to spin your wheels trying have at it, don’t have time to waste and not my idea of fun even if I had the time.

 

Wow! This is amazing... Thanks everyone!!

 

FWIW, I was a serial Toyota leaser for the past 10 years or so (still lease my wife’s Highlander). When it came to the Taco I just bought, the resale value remains so high that I decided to finance and buy instead. I am hoping to be able to sell it at a fairly high price a few years from now, modify it in the meantime, or maybe hold on to it for the long term. I just couldn’t find the same lease deals for the Taco as I did w/ other Toyotas.

 

Yeah, that's actually a good point. Usually you take the huge hit initially when you buy new and drive it off the lot, but with these, not so much...

 

I found a used 2018 w/ 17K miles so it was a pretty good deal.

 

The person being mentioned, his name is Jim. I contacted him Saturday and picked up my 2020 Limited this evening.

I had in place what I would call an aggressive deal as it was $175 less per month than my first dealer visit. Can’t believe dealers rape people that way. Anyways, Jim even beat the aggressive dealers price....the kicker, the truck was from that dealer. Jim happens to work not far from me in Pa. Brokers are no joke, they push product, I’d highly recommend using them.

 

You can almost always go from 10k to 12k to close the deal.

 

This. If I was closer I would have picked one up from Jim, have read nothing but good things about him. I also found a great broker local to me so it worked out.

 

I was going to come in and tell you that its a terrible deal, but luckily there are quite a few members who understand leasing. If you don't want to deal with salesman and haggling for weeks then I'd pay a broker. I used one from MA and he was great to work with. The dealer called and didn't pressure me into anything extra and once it was finalized I had the cars shipped. I bought a Pro for me and Highlander for the wife, Best deals I have ever seen for either vehicle and the brokers commission was well worth the price.

 

Renting (leasing) a vehicle should only be an option if you own a business to take advantage of the IRS rules. For personal use you are better off purchasing.


“If you use your car only for business purposes, you may deduct its entire cost of operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use.

You can generally figure the amount of your deductible car expense by using one of two methods: the standard mileage rate method or the actual expense method. If you qualify to use both methods, you may want to figure your deduction both ways before choosing a method to see which one gives you a larger deduction.

Standard Mileage Rate - For the current standard mileage rate, refer to Publication 463, Travel, Entertainment, Gift, and Car Expenses or search standard mileage rates on IRS.gov. To use the standard mileage rate, you must own or lease the car and:

• You must not operate five or more cars at the same time, as in a fleet operation,
• You must not have claimed a depreciation deduction for the car using any method other than straight-line,
• You must not have claimed a Section 179 deduction on the car,
• You must not have claimed the special depreciation allowance on the car, and
• You must not have claimed actual expenses after 1997 for a car you lease.

To use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Then, in later years, you can choose to use the standard mileage rate or actual expenses.

For a car you lease, you must use the standard mileage rate method for the entire lease period (including renewals) if you choose the standard mileage rate.

Actual Expenses - To use the actual expense method, you must determine what it actually costs to operate the car for the portion of the overall use of the car that's business use. Include gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) attributable to the portion of the total miles driven that are business miles.

Note: Other car expenses for parking fees and tolls attributable to business use are separately deductible, whether you use the standard mileage rate or actual expenses.

Depreciation
Generally, the Modified Accelerated Cost Recovery System (MACRS) is the only depreciation method that can be used by car owners to depreciate any car placed in service after 1986. However, if you used the standard mileage rate in the year you place the car in service and change to the actual expense method in a later year and before your car is fully depreciated, you must use straight-line depreciation over the estimated remaining useful life of the car. There are limits on how much depreciation you can deduct. For additional information on the depreciation limits, please refer to Topic No. 704. Publication 463, Travel, Entertainment, Gift, and Car Expenses explains the depreciation limits and discusses special rules applicable to leased cars.”

 

It really depends on weather or not you plan on burying out the lease.

 

Using leasehackr.com I've now got a much better quote of $218 a month for a 39 month lease. It'll cost 1k for broker fees and shipping, but that should be everything cost-wise. I may just go that route.

I'm glad you guys took the time to give me some feedback, so thank you! I feel much better armed for this process now. It's daunting as I repeatedly feel like I'm willingly jumping into pools of "friendly" sharks as I walk through the doors of these dealerships. All I can do is play their offers against each other it seems, and now I've got quite a good one.

Thanks again and I will let you know how it turns out.

I'm tempted to buy a used 2017 through Carvana as their trade-in offer on my Mustang is $1,500 more than any local dealer seems willing to pay. Would cost me a little less than 13k to make the trade. Ohio really seems to incentivize buying new though since that is the only way to get the tax credit on sales tax with a trade-in. Trading used for used I will have to pay the full sales tax on a $28k vehicle at 8%.

Still might be an OK way to go as I'd love to play around with off-roading and even modifying the truck. I'm not really a "car guy" but I feel the pull to get into it as reprogramming my V6 Mustang with a race tune for 93 octane really made a difference in throttle response. Fun stuff.

 

Not sure if this was covered, if you’re going to lease, DO NOT put a deposit down. A better way to go is to apply whatever you were going to put down in the form of multiple security deposits. I think Toyota allows up to 9MSDs. One MSD = one month lease payment. The MSD buys down your money factor and you get it all back at the end of your lease.

Lease: MSD, Yes. Deposit, NO.
Purchase: Money down, Yes. The goal is finance a lower amount because you’ll be paying less interest in the long run.

 

His name is Jim, I got my truck through him and it was super easy. Got a great deal and he got me exactly the trim and color I wanted. Highly recommend working with Jim.

 

If your state doesn’t offer a tax incentive for trading in your vehicle against the purchase of a new, then check vroom. They are usually higher than caravana, I filled out the form online and they sent paperwork and a carrier to collect the truck. Couldn’t have been easier.

 

I leased my 2020 Sr from Ganley Toyota in Akron $0 down $205 a month plus tax over the weekend

 

I ended up heading to Sunnyside Toyota this morning since they are the local Toyota dealership that Costco works with. They quoted me a 39 month lease on a silver 2020 SR 4x4 V6 with a couple extras like running boards, bed light, etc., for $1000 down and $204 a month (taxes and fees included). Unfortunately, since I have not worked in awhile due to disabilities, and I rarely use credit, Ally was requiring 2k down even though I could buy 8 Tacomas with cash if I wanted to by cashing out investments. My credit score was 756 when they ran it.

They said that Ally has there own internal system of determining credit. Interesting.

Anyways, I am pretty depleted from running to all these dealerships but ultimately ended up paying 2k down and 203 a month total for 39 months. It beats the 3k down and $220 I was quoted for 36 months a few days ago. Could be worse, could be better I figure. I learned a lot from the experience and feel MUCH better prepared for whenever I might lease again in the future.

The truck is beautiful. And it is going to take me and my girl on some great adventures through the southwest soon. That's the main point. I'm relieved it is done and feel good enough about the deal I ended up with. Next time my credit should be better having had the this lease under my belt.

Time to enjoy it! Black running boards on silver 4x4 V6 Tacoma with black bed liner... It's beautiful .

 

Congrats! Pictures or it didn’t happen.