Considering Lease for 2019 Tundra

Was set to purchase 2019 Tundra TRD Sport CrewMax 5.7L either Cavalry Blue or Super White. Never have leased but was offered 36 month/15K per year @ $381 per month including taxes. MSRP $ 49,052. Residual value after 36 month lease $34,000.
Dealer offer after rebates and trade in, including taxes, doc fees and title $38,172. Not familiar with leasing is this a good deal?

 

Pretty sure they are still running 0% financing on new tundras. I’d do that over a lease any day.

 

Welcome from NY.
I don't like leasing myself. How are you going to do mods if you lease it? Believe me you are going to mod it.

 

I leased a 97 Jeep Wrangler and they gave me 15k a year. Hit that many miles easy in a year. It was fun to drive. I won't ever lease another vehicle. I don't like to be told how many miles i can drive it. But i knew i would buy the Jeep at the end of my lease.

 

I did 45,000 miles last year

 

If you plan on staying with it why not....

 

I did a lease... wishing I hadn’t.

If I wanted to buy this truck out at the end I would end up paying as much per month as I would buying a 0% interest new truck... so I’ll basically have to buy a new truck in 3 years.

 

Never leased a truck. Leased cars though. 381 a month with 15k a year sounds like a good deal on a 50k truck. What’s your trade in worth ? That residual sounds crazy high for a sport with possibly 45k miles when you give it back.. what trim level is it?

Are our tundras really holding that high of value ?

A car in the mid 20k range is usually around 330-350 ish monthly with zero down on a 3 year lease. So if your trade in isn’t worth that much that sounds like a pretty good deal.

With zero down and no trade in I think you’d be around the 500$ a month range.

If you have good credit make sure they are giving you a good money factor that reflects what your interest rate would be if it was a normal purchase. (It’s basically the interest rate but for a lease)

On a 3 year lease you usually pay close to half the vehicle price between trade ins , down payment, and monthly payment. A few thousand below half the Vehicle price is usually a decent deal.

https://www.caranddriver.com/news/a15595299/how-to-negotiate-your-next-new-car-lease-like-a-pro/

There’s a bunch of info online if you really want to know if you are getting a good deal

 

OP - if you haven’t done so, check out leasehackr forums - some crazy lease deals available, depending on your location.

 

Trade In Allowance $12,000. Money Factor .00083

 

My wife has a 2018 Camry lease for 3 yrs we plain to buy when it's over but her payments are great $248.00 a month for 3 yrs and of course the free maintenance as well with it. I say of you plain to buy it at the end and it's in your budget go for it leasing is not always bad.

 

I leased my 2019 TRD SR5 in Cavalry blue, didn't want to do the 0% since I wasn't sure the truck would fit our family... the 3yr 12K miles per year lease was perfect, and I'm a sub 10K miles a year driver anyway. I got $340 per month with $6500 down, thats tax title and license fees and residual at the end was $34K plus change. My original price was $45K. It's not for everyone, and why the hell wouldn't I mod my truck? Capper, wheels, tires, and a few appearance hacks... that stuff can come off and get sold if I decide to NOT buy the truck, but fully plan to purchase at the end since I'm loving it. Lots of comments on the Cav Blue too!

 

Great post. Not all leases are the same it seems. I've personally never leased a vehicle. I guess what's important is your personal situation. Family, single, not sure to own, how many miles per year, residual value? There is always a middle ground. It seems to be best to make yourself a checklist of whether to lease or not. It might be time to designate a special thread on the do's and don't when deciding to lease or buy....using the input from folks here that have had a good or bad experience leasing.

 

I leased mine. 19 SR5 TRD Sports CM 2yrs 12k MSRP was about 49k. Tight on miles but I’m only paying $315 per month with $0 at sign so why not. Reason I didn’t purchase is it’s my first pick up and not sure how its gonna fit out family so wanted to try for 2 years. Only downside is buy out will be high as oppose to low payment so I don’t think I’m gonna buy this one at the end of lease. But for sure another pick up will be purchased.

 

You can find brand new sport for under 43
https://www.autotrader.com/cars-for...Code1=TOYOTA&modelCode1=TUNDRA&dealerId=88062

 

I have leased before and normally came out pretty good, the exception was the 2016 tundra I leased. Ya I made a mistake on that one. No one forced me to sign the line, but I did.
Kept it 2 months short of the lease ending. Had planned on keeping it. Put some money and fun stuff on it.
Long story short, after interest and length of term the buyout was almost as much as if I got a 2019 with 0%. I also could not see going another 60-72 months paying on a vehicle I had already paid on for 3 years. Those are things I honestly had not given any thought to.
So I traded for a 2019 with the 0% interest purchase.

Thankfully the dealer and I negotiated the trade in value of the 16 and they took into account the mods. I did not get all my money back but I was ok with what we settled on.

If I have saved the old parts I would have pulled off the parts I added.

Lesson learned for this guy.

 

This is assuming you don't have a fuck ton of money like me, Hell yes ! it's a good deal ! You get a low payment and you are simply buying the residual. If you decide you don't like it then you rented the vehicle, definitely not Toyota financials fault, At least they gave you the option.. Or buy it and have a crazy payment..

 

If decide to purchase vehicle will finance 48 months, 60 max, I don't like to extend payments beyond 48 months. I told if you are going to lease and are considering to buy, best to buy prior to end of lease not at the end of lease, anytime after 20 months into lease. Also informed, if you go over mileage ONLY charged for additional mileage if you walk away at the end of the lease. If you decide to buy or lease another vehicle will not be charged for additional mileage.