Hoping to join Tundras!

Aloha All,

Looking to join the Tundras from Tacoma. I just need the cab space as well as keeping a truck bed to haul things. I went to the dealer today and ran some numbers... I currently have a 2017 TRD Offroad Tacoma, owe about $21,000. Looking at a 2020 TRD Sport package CM. After rebate, taxes, trade, etc. price comes to $40,945. They are valuing my trade-in for the Tacoma at $6,000. Their offer for a lease is 3 years, about $420/month, 12k miles/year (I don't travel far), residual=$32,916. Never ran my credit yet so I know numbers will change but this was the base line that they gave. I've never leased before so all of this is new to me. Just looking for opinions, pointers, and wisdom from people with more experience. I know full size=$$$ so I am expecting to pay full size prices lol. Happy Holidays!

 

Welcome from SoCal!!

 

Do not lease!

 

Yeah on a leased truck you may not be able to do mods!

 

Welcome to the party!!!

 

May I ask why? Again, i never leased so I'm not well versed in leasing.

 

Trying to lol

 

I'm not too concerned about mods right now lol. I just need the space is my main concern. I know I'll get the itch to mod though lol. I've been researching parts already! Haha

 

Thanks!

 

Sell your truck on your own. That offer seems ridiculously low.

I wouldn’t lease a truck. But I’ve done 15k+ in Mods to mine in the last nearly year that I’ve owned it. And the only way I can justify that is knowing I’ll own the truck for a long time.

 

Straight out of the 808! Welcome

 

For one you will likely have to stay low mileage. You will want to drive the car. And at lease end the value will be lower and what’s owed may be more. Just depends on lease terms.

 

Welcome from Ohio.

 

Makes sense. Not much people where I'm from drive toyota. Theres only one toyota dealer where I'm at as well so it doesnt help with prices. Nice truck! I want white too.

 

Rajah!

 

Gotcha. I've been questionable about leasing from the start but just wanted some input from others who are more knowledgeable about it.

 

Thank you!

 

Welcome from NY.

 

Mahalo!

 

Next question, pay more for TRD sport or get the SR5 base model and upgrade everything anyway? Suspension, wheels, tires, etc....

 

I’m confused by your trade in value. Do you mean there’s going to be 6k negative equity?

I also don’t understand a 3yr lease. Why not do a standard 5yr note and own it.

 

6k positive. I'll get 6k from my trade in. I'm leaning towards owning it. Just wanted to see others thoughts on leasing. That's all.

 

Hey there from Virginia!

 

Hello!

 

Welcome from southern NJ.

T

 

my experience with any lease offer... you will pay about 50% of the price over the lease term, and only use about 20-25% of the vehicles life span.

i've never leased; i drive my vehicles till the wheels fall off or drown (we flood a lot here in houston). last pickup had 176k and was paid off for 10 yrs when it drowned. looking to get at least 10 yrs paid off and 200k out of my tundra. lifted this one in hopes of staying above water.

my wife is currently leasing her car. she understands that its a rip-off, but is willing to look past that for never being out of warranty or pay for service (we negotiated all the services into the deal). Even though I would always perform her oil changes when she owned, she still preferred for us to not "worry" about it.

as a numbers oriented person, i cannot bring myself to lease; just doesn't "add up" to being a good financial decision.

we first talked with lexus when my wife decided to lease; when i questioned the 50% paid vs. 20-25% used, the sales person asked us to leave and walked away.

this purchase model guarantees a financial WIN for the dealer; this translates into a loss for the consumer. they know at the end of the term exactly what the car will be worth (limited miles) and how much equity they have in it.

additionally, anytime someone "pushes" a product as hard as dealers push leases and extended service plans, rest assured they are EXTREMELY high margin products. i steer clear of both.

for some people, leases work (my wife). lots of business lease vehicles. it's just not for me.

 

Thank you for the detailed response. I played with the numbers and I came to a conclusion with my limited knowledge of leases that it is some what of a rip off.

 

Also true, I did calculate and what I would pay over the lease term, would be about 50%

 

no worries 808; im always willing to spew my opinion, invited or not... can get me into trouble sometimes

i believe that i am severely underestimating the fact that you should be able to get 100k trouble free miles, with basic maintenance out of any toyota. at a 45k sales price, that's $.45 / mile. add oil changes {.008 / mile ($80 / 10k miles)}, tires {.03 / mile ($1500 / 50k miles)}, brakes {.01 / mile ($500 / 50k miles)}, and battery ($.003 / mile ($150 / 50k miles)} puts you at about $0.501 / mile.

government standard payment per mile is $0.58 for 2019. this is also intended to cover fuel, which is about $0.15 / mile, figuring $2.50 / gallon and 16 mpg's.

as usual, the government is short changing you, because your total $ / mile, including fuel is $0.651 / mile.

but that is neither here nor there. nothing surprising.

leasing a 45k vehicle will put you at about $0.75 / mile, or $0.906 including fuel, considering a total payment $22,500 with a 30k mile limit.

obviously im not considering any trade value. purchase vs. lease only.

a trade only adds to the confusion, which is what the dealership wants.

best of luck with your decision.

also, welcome to the forums from houston!

 

That lease term suck, 420x36=15120. And a 3 year old tundra is around 31064 (kbb). That’s come to 46184 + your Tacoma.