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Toyota Tundra Lease Questions

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  • Sorry I didn't get back to you before you leased. Was the $700 for drive offs or was it utilized towards reducing your cap cost? At first glance, I'd say you did pretty good based on the numbers available through Toyota at this time.

    Enjoy the truck!
  • mcb3mcb3 Posts: 2
    Carman,

    I live in Oklahoma and was recently quoted a Toyota Tundra Crewmax 5.7 4x4.

    Details:
    MSRP Base: $42,835
    Installed Options: $1,890.00
    Total: 44,725.00

    Residual Value: 47%
    Money Factor: .00265
    Cap Cost: $33,163
    Mileage: 12K per year

    In Oklahoma we Pay Tax, Title, and License and they included it in the deal probably around $1300.

    Quoted: 0 down $553/mo on 36 mo.

    I figured it at around $480/mo. What did I do wrong? and is this a good deal for my region given this information.

    Thanks
  • mcb3mcb3 Posts: 2
    Sorry,

    There cost they gave me was $ 42,163.
  • rlaryrlary Posts: 18
    I think I would want to work the purchase numbers.
  • stef3stef3 Posts: 22
    I kept on delaying the lease of my truck but I think now is the right time.
    You have been a good "teacher" in the past but I still need your help.
    I am trying to get one of these Tundra Limited 4x4

    First choice VIN number 5TFBV58158X060301 ( MSRP $41520 )

    Second choice VIN number 5TFBV58178X068271 ( MSRP $42140)

    If you could run the numbers for a 36Month/15000 Miles lease tax rate 7.75%,
    I will be greatful until the end of this year :)))

    One more question : can you ID a California dealer by this dealer number?
    110-04066

    Thank you!!!
  • Stef3,

    I don't know which dealer that is, sorry.

    I have the info and I'll run the numbers in the morning.

    Hang tight for a few hours... I need to get some sleep.
  • Vehicle # 1:

    MSRP: $41,520.00
    Invoice: $37,699.00
    Residual: $19,485 (47%)
    Terms: 36 mo / 15k annual miles
    MF: .00016-.00066 (ask your dealer what the buy rate for tier 1+ is in your region)
    Incentives: $1000 Bonus Cash (compatible with leases)

    If they capped the cost at invoice, then utilize the $1000 bonus cash as a down payment, with OC sales tax (7.75%), you'd be OTD for $524.91/mo.

    Now, the dealer has another $775 in holdback, and $387 in wholesale financial reserve - basically, another $1162 of profit for you to work with. If they give you all of that + the $1000 lease cash, you'd be at $489.93/mo.

    These lease figures assume a .00016 mf (if available in your region), and do NOT include TFS's acquisition fee of $550. This fee can be rolled in or paid as part of your inceptions.

    In addition, this vehicle has an ad fee of $300 (TDA) and a gasoline charge of $10 on the factory invoice - just FYI.

    Now, if you decide to purchase, the rebate is $5500, or 0% + $1000 Bonus Cash. If you took the rebate and if the dealer gave you all of his hb and wfr, you'd be almost net $10,500 off MSRP. Again, just FYI.

    I'm tired... I'll run the numbers on Vehicle #2 in the morning.
  • stef3stef3 Posts: 22
    The dealer wanted $570 for this one so I have some room to bargain today.
    =========================================================

    For the second truck 5TFBV58178X068271 ( MSRP $42140) I will ask if he will add some options - stainless side steps, aluminum shift knob, sport pedals and exhaust tip -around $800

    I think I should offer $510 out the door with $800 down and let's see what happens..
    I have all day to make a decision so just take your time.

    Thank you again
  • Vehicle # 2:

    MSRP: $42,140.00
    Invoice: $38,353.00
    Residual: $19,610 (47%)
    Terms: 36 mo / 15k annual miles
    MF: .00016-.00066 (ask your dealer what the buy rate for tier 1+ is in your region)
    Incentives: $1000 Bonus Cash (compatible with leases)

    If they capped the cost at invoice, then utilize the $1000 bonus cash as a down payment, with OC sales tax (7.75%), you'd be OTD for $540.88/mo.

    Now, the dealer has another $775 in holdback, and $387 in wholesale financial reserve - basically, another $1172 of profit for you to work with. If they give you all of that + the $1000 lease cash, you'd be at $505.60/mo.

    These lease figures assume a .00016 mf (if available in your region), and do NOT include TFS's acquisition fee of $550. This fee can be rolled in or paid as part of your inceptions. If by chance the money factor being utilized in this region is .00060, your payment would be $567.89 and $532.05 respectively, depending on a cap cost of invoice, or invoice less $1172 (hb, wfr, gas).

    In addition, this vehicle has an ad fee of $400 (TDA) and a gasoline charge of $10 on the factory invoice - just FYI.

    Toyota lease rates are hard to keep track of as they vary quite a bit by region, but either way, as long as they fall within the range I gave you, from an apr perspective, you're still making out with either 0.38% or 1.44% - both very low!

    As for the add on's, not sure how much, if any of that stuff can be residulized.

    Good luck and keep us posted!
  • Btw...

    -DEALER NUMBER : 04018 DEALER NAME: CLAREMONT TOYOTA

    -DEALER NUMBER : 04066 DEALER NAME: DCH TOYOTA OF OXNARD
  • stef3stef3 Posts: 22
    Now this really pisses me off ... the suckers keep on telling me that they have no problem selling this trucks and they will not accept anything less than $599 with $1200 down for the truck as is.
    I just pulled out a $51000 BMW for 604/mo with $1800 down with same lease terms so I refuse to pay almost the same for this $42000 truck.
    I offered them $510 pls tax and $1000 down and no way ....
    I cannot locate another truck with same color and specs so it looks that I will wait for the 2009 models. I am tired of this BS.

    Thank you for all your help ...
  • stef3stef3 Posts: 22
    Thanks ocautoseeker for the dealer codes ... I did some research and I got to this ...

    http://www.toyotadealerresponse.com/results.aspx

    If you want to know where your truck really is when a dealer is locating it for you just make a note of the actual dealer code when you look on the papers they present you and you might have another chance to work out a price instead of taking the offer from the dealer you are at ...
  • stef3stef3 Posts: 22
    I am in ZIP Code 91730, have tier1+ credit, they used 0.00016 as money factor.
    I just checked my e-mail and got another offer from sales guy at 548.44 with 1200 down.
    Now this gets closer to what you were saying but they managed to screw up my day and I did not answer yet. What do you think about this offer?

    Should I push back with what you were saying? Cap the cost at invoice, then utilize the $1000 bonus cash as a down payment, tax (7.75%), OTD for $540.88/mo.

    I will sleep on it ...
  • Okay cool, you were able to confirm the money factor. Is the $1200 your drive offs (1st payment, dmv's, etc.), or do they want $1200 as a down payment/cap cost reduction?

    Which truck are we dealin' with? If you're talking about #1 ($41,520), If they cap the cost/sell you the vehicle at invoice ($37,699), then add in the $550 acquisition fee, and utilize the bonus cash as a down payment, you're otd for $541.47/mo. Only thing due upfront should be 1st month payment + dmv's.
  • stef3stef3 Posts: 22
    Now I am talking about :

    Vehicle # 2:

    MSRP: $42,140.00
    Invoice: $38,353.00
    Residual: $19,610 (47%)
    Terms: 36 mo / 15k annual miles
    MF: .00016

    At this point I do not know what they want to use the $1200 for .... but something is still not right ....
  • This vehicle, if sold at invoice and rolling the $550 acquisition fee into the lease, then using the $1000 lease cash as a cap cost reduction/down payment, you're looking at $557.43/mo OTD. Only 1st mo + dmv's to be paid upfront.

    One tip... they just ended their month on a busy holiday weekend which is why they might not have been very aggressive - now they have another 30 days of optimism. You don't want to be anywhere near a car dealer over the weekends and especially on holidays.

    Hit me back if you need anymore advice, or shoot me an e-mail if you would like to see the factory invoice.
  • stef3stef3 Posts: 22
    No luck for me this weekend.
    I called offering $570 and $1000 down but they did not confirm over the phone if they would agree or not and asked me to go there.
    I was too pissed so I decided to give up.

    BTW ... I sent you an e-mail ...

    Probably this week I will look into a CrewMax because finding the color and options I want are hard to find in Double Cab ... not many left on the market.
  • Hi mcb3. It is virtually impossible for consumers to accurately calculate a monthly payment for a lease through Toyota Financial Services. This is because unlike most other banks TFS places restrictions upon what options can be residualized. This renders its residual value percentages practically useless. So much so that Toyota actually provides its dealers with lists of the actual dollar residual values for every vehicle that they have in stock rather than relying upon them to calculate them using the percentages. So while TFS' residual value for this truck is 47%, its effective dollar residual value is probably less than that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • moatdaddymoatdaddy Posts: 1
    Hi everyone, i am currently on my second deployment (Iraq) and when i return need to gear up for my third(Afghanistan). It has come to my attention that due to the Soldiers and Sailors Act a lease may be returned early without penalty if you have deployment orders. Here are my questions.

    1. When getting a lease what is the best method to obtain the lowest monthly payment without a large down payment?

    2. Do i have to return the leased vehicle to the same dealership?

    3. How will the mileage apply if i turn in the truck mid lease?

    To all those who respond thank you for your time and insight. All help will be greatly appreciated.

    CW2 Brad
    Mosul, Iraq
  • bmwk75sbmwk75s Posts: 18
    First and foremost, let me thank you for your service. I don't think that can be said enough.

    Second, I believe that the SSCRA provides you the ability to end a lease early, but only if you entered into that lease and made at least one payment prior to active duty.

    I would suggest looking at something like leasetrader.com to find someone with a Tundra who wants to get out of their lease early. You can take over their lease payments and turn it in at the end of the scheduled lease term. Check the fine print closely before agreeing to anything.

    Good luck.

    Ben
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