Who here leased their 3rd gen?

Actually what @greengs said is correct. When you lease a vehicle your payments are based on the difference between the capitalized cost and the residual at the end of the lease. That would be the principal payment, then the MF and taxes are added on to give the actual monthly payment. Of course if there are any other fees they would be included too.
That's why you always aim to negotiate a lower capitalized cost and a higher residual in a lease. In general, the mainstream Japanese models are cheaper to lease because they have low capitalized costs and high residuals. Compared to their German counterparts with higher capitalized costs and lower residual.
The MF though also plays a vital role and these are set by each individual manufacturer.

 

i leased my 2020 in January of this year. this is our first truck in about 10 years and now with a house and 2 kids it seems needed. my though was needing a truck for random house shit and tossing the kids bikes in the back. i don't tow anything except an occasional small trailer to the dump so i had no need for a full size truck. so far the taco has been great. its a DCLB and i have about 8,500 miles on it right now as my DD. my only gripe with it is its small inside but that isn't a huge deal really. my kids are 2 and 8 and we all fit in it fine. i got the truck at my local dealer. sticker was $37,500 give or take. $400 a month with around $28,000 left after the lease is up. we leased since we haven't had a truck in so long to make sure it makes sense and to see if plans change and we end up getting a bigger truck for whatever reason. so far its down to keeping the taco or seeing how the new tundra fares if they ever release it. before the taco i was looking at silverado 1500 LT, and XLT F150's.

 

Thanks everyone for helping me figure this out, dealer gave $30,300 for my 2017 OR and I was able to get a limited 2020 for $40,000. Very nice truck and has all the bells and whistles, thanks again to everyone who replied.

 

I paid cash for mine, some friends and family said it was stupid to do so but I dont like having another loan or monthly payment to worry about. I plan to keep my truck until the wheels fall off anyway

 

What was your original residual value for the 17 vs what you got trading it in? Thanks!

 

Residual was 25,000 and they gave me 30,000. New truck sticker was 44,000 and it was marked down to 40,000 with a residual of 34,000

 

Something not brought up is, what happens if you get into financial difficulty. If you buy outright, it’s yours. If you are leasing or buying on time you’ll loose it. You’ll have nothing to show for the money spent.