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Toyota Tundra Lease Questions

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  • golfdude1golfdude1 Posts: 12
    Car man, I'm working a lease and want to see if you can tell me if this is a good deal or not and how much would payment e .

    06 Tundra double cab 4x2
    MSRP: $29,083
    Purchase price $25,787
    MF .00152
    Residual ($15,540 or 53% )
    15k
    36 months

    Thanks
  • golfdude1golfdude1 Posts: 12
    Car man, I'm working a lease and want to see if you can tell me if this is a good deal or not and how much would payment e .

    06 Tundra double cab 4x2
    MSRP: $29,083
    Purchase price $25,787
    MF .00152
    Residual ($15,540 or 53% )
    15k
    36 months
    zero down

    Thanks
  • dkquinndkquinn Posts: 4
    Jericho88, that is an awesome price. Where in the Northeast? I am in NJ and looking for the same lease deal. 36 month, 15K a year.
  • I am dealing with a few dealers in Massachusetts. I am at 12k miles/yr. $2500 down and about $350 per month based on some of the numbers I am seeing it seems like I am getting the raw end of the deal... what do you think?

    This is for a crew cab 4x4 Limited. No nav or dvd player.
  • jericho88jericho88 Posts: 8
    Dkquinn,
    i'm in Eastern Massachusetts. I went to 3 other dealers and none of them would go below $380 with Gap. i thought for sure that when i got into the finance office they were gonna hit me with some crazy charges or story that would require more money down or a higher payment but it never happened. $1000 total out of pocket expenses and that was it. I must say though, i did have to do quite a bit of wheeling and dealing to get there...Afterall, their orignal payment with $1000 down was 495/month :confuse: .

    Jericho88
  • mbrsmc27mbrsmc27 Posts: 1
    i called my local toyota dealer on the cape and got the following information for a base SR5 double cab 4wd lease (36 months) in MA.

    Purchase price (Cap cost) = $28,250
    Initial Down Payment = $2400
    Monthly Payment = $242.49
    Mileage Allowance = 15k per year
    Residual (purchase price at end of lease) = $18,969

    This sounds like a heck of a deal, but I am new to leasing, am I missing something? Any advice would be greatly appreciated.
  • Car_man, i leased a tacoma 05 dc last year in May. on a 5yr lease. Sticker price $26,600.
    down payment of 1,300
    monthly payemt of 480.00
    anuual mileage of 12,000 (currently have 9,500 miles)
    residual at the end of 5yrs is $11,000

    I want to know whats the best thing for me to do? I really regret getting into this lease. :cry: I would like to get rid of and get something else. i have a 720 credit score. Please help!!!!! thanks......
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi king_taco. As you have noticed, five years is really too long to lease any vehicle for. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. Again, I'm sorry that I don't have better news for you.

    Car_man
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  • bmwk75sbmwk75s Posts: 18
    Car_man, I've been looking at 2 different Tundra's and wanted to get your opinion on the offers.
    Option 1
    2006 Double Cab 4x4 SR5 - JBL stereo w/8 Speakers, All weather package, Remote keyless entry, Limited Slip, TRD, Privacy glass, Moonroof, Carpet floor mats & bedliner.
    MSRP $34,166
    Sale Price $31,902
    Amt down $4,000 to cover sales tax, lic, etc...
    36 month lease @12,000 miles
    Residual $20,518
    Money Factor $.00001
    Net Payment $237.90

    Option 2 - Dealer demo with 5,000 miles
    2006 Double cab 4x4 Limited - JBL 6 disc changer, All weather package, Leather w/heated seats, Rear audio, Overhead console, Running boards, moonroof, VSC & traction control, Cargo net & Wheel locks.
    MSRP 38,883
    Discounted price $34,541.84
    Down payment $4,000
    36 month lease @12,000
    Residual $23,174
    Money Factor .00001
    Net Payment $265.43
  • sebring95sebring95 Posts: 3,231
    I'd skip the downpayment with a money factor that low. Of course, I'd skip the downpayment on any lease.
  • What's the general opinion on the latest Tundra lease deal, $269 for 36 months? I normally wouldn't consider a lease but this seems like a good deal to me.

    Lease a new 2006 Tundra 4-Wheel Drive Double Cab SR5 V8 with 5-Speed Automatic Transmission for $269 a month for 36 months with $2,268 due at signing, which includes first month’s payment, $1,599 down payment, $0 security deposit and $400 acquisition fee. Does not include taxes, license, title fees, insurance and dealer charges. Closed-end lease. Example based on model #7844 with optional equipment 50 State Emissions, All Weather Guard Package, JBL 3-in-1 Audio, Alloy Wheels, Accessory Meter, Color Overfender, Keyless Entry, Running Boards, Privacy Glass, and Floor Mats. Manufacturer’s Suggested Retail Price including freight $33,062. Monthly payments of $269 total $9,684. Capitalized cost of $29,222 based on down payment and dealer participation, which may vary by dealer. Payment may vary depending on final transaction price. Lease-end purchase option is $19,893. Customer responsible for maintenance, excess wear and tear and $0.15 per mile over 12,000 miles per year. To qualified Tier 1+ customers through Toyota Financial Services. Cannot be combined with any other offers and may vary by Region. Subject to availability. See participating dealer for details. Offer ends 9/5/06.
  • bmwk75sbmwk75s Posts: 18
    Where are you located Creekrat? In Northern NY, they are offering the same deal for $229 a month, while New England dealers have it for $199.
  • I'm in Kansas; ended up going to a dealer in Independence, KS that seemed to be very fair.

    This deal was good for the Kansas City region which is Kansas, Missouri, Nebraska, Iowa and the Dakota's. We're right on the Oklahoma line and dealers there could match this deal so I thought it was great. It's still a good deal but $199 would have been fantastic.
  • ustazzafustazzaf Posts: 311
    I leased a Tundra on the 5 year deal due to shi%%% credit. I do not regret it for a minute. The payment worked for me and the truck was so far superior to anything else on the market that it was worth it. I traded at 4 years for a real 4 door Tacoma due to the kids growing, but the 5 yr deal worked for me.
  • sebring95sebring95 Posts: 3,231
    Seems like you can't argue with the money factor. It's low which is a good thing. The only item that seems a little suspect is the residual value. By using an inflated residual, that drops the payment by a big margin. The big question is what will the vehicle be worth at 36 months? If you have no intention of buying out the lease, who cares. But if you want to buy the truck, it might not be a good deal unless they'll negotiate with you on the buy-out. Time will tell I guess. I think it's a good deal, but it is effectively an incentive which lowers resale value although not nearly as bad as $3,000 rebates like the otehr manufacturers offer.
  • jetta18jetta18 Posts: 2
    What is the money factor and residual on the current lease deal for the Chicago region? Looking for a 36 month, 15k miles, $0 dn lease on a $33,337 msrp dc Tundra.

    Thanks,
  • I am looking at a 06 Toyota Tundra double cab 4x2 limited, sunroof, MSRP 36,750. What should I be looking at for a 36 month lease with no money down? I am new to leasing and don't want to loose my shirt. I live in south Texas and the toyota web sites simple say to go to the dealership for details on leases.
  • Here are my specifics on a lease offer on a Tundra Double Cab SR5 2WD w/ Moonroof but no other real special options.

    List Price... approximately 30K.
    Sale Price... 27,500

    Rebate 4,000
    Customer Case 2,000
    Total Cap Reduction after advance payment and upfront charges 5,069.37

    The base monthly payment is 341.71 but with tax (Atlanta, GA.), it comes out total of 365.63. with 15,000 miles per year.

    I have never leased a car before and could use your help ASAP. I have the truck for the rest of the weekend but would like to make a decision by Monday.

    Thanks.
  • Car Man, Please help me, I'm new to leasing.

    I'm looking at 06 Tundra Double Cab Limited.Model 7848a
    $33,575 retail + $4866 accessories=$39086 purchase price. 36 Month lease, 56.39% LEV, lease end value $22,042, aqis fee $400, Adj Cap Cost $37,400, pmt 444.44 with 444 due at start. 15K miles I am being told their are NO other cost to drive off the lot, just the 444. I do not plan on buying it out,

    Is this a good deal? : :confuse:
  • I really want the 07 Tundra, but need a truck NOW. Is their a way to buy one early or lease an 06 now then trade for an 07? I am told not till Feb 07 and cannot wait that long.

    Do you know what pricing or lease programs they will start the 07 out with? Will they be comparable to the 06?
  • Ever here of one on a Tundra?
  • sebring95sebring95 Posts: 3,231
    You can probably find a bank to write whatever lease term you want. 12 months would be big $$$.

    You might consider looking at assuming someone else's lease. I have done this with great results but you have to be very careful. www.swapalease.com is a good place to look. This will be the absolute most effective way for you to do what you want. Shouldn't be hard to find an '04 or '05 low-mileage Tundra with 12 months or even less remaining. Or buy something else if it's only for a year. Just find a good deal to get you by. GM leases are usually pretty good deals and I assumed one a few years ago.

    If not, you could also look at finding a used Tundra and holding until you can get into a new one. Lots of folks have been trying to sell their trucks due to gas prices.

    Buying/leasing new and trading in one year would be very expensive no matter how you work it.
  • bmwk75sbmwk75s Posts: 18
    Too bad you are in Colorado. I have a great 2002 x-cab Tundra for sale that will make a nice trade in for the 2007. v6 & 5 speed with a leer cap and less than 45K miles.
  • dzgeardzgear Posts: 5
    and residuals. I am thinking about leasing an 06 Tundra as a work truck. I have expert lease pro and I just need to punch in the current money factor and residual to figure out my payment. The local dealer here in So Cal. is offering the 3k rebate plus 3k off sticker which puts the cap cost pretty close to invoice before rebate. I have 700 plus credit score and am going to do 3 years at 12k a year. Any info would be greatly appreciated. Thanks in advance. BTW, I took in all my info I got on this site, entered it in my notebook on expert lease pro, and took it with me to the Lexus dealership when I got my wife her RX350. ABSOLUTELY WORTH IT. I got the vehicle for 1200 below invoice and left them with nothing on the back end since I knew what the money factor was with Lexus financial. The dealership was awesome and said I was one of the most educated people they had ever dealt with. So I plan to do the same thing again with this truck. Hehe. :) Thanks in advance for your help.
  • dzgeardzgear Posts: 5
    Oops I forgot to add...it would be a double cab, SR5, V8 with a sticker of around 29,500. Hope this helps.
  • Hi dzgear. I don't believe that Toyota is providing lease support on the 2006 Tundra any longer. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. TFS' buy rate standard lease money factor varies by region, but it should currently be around .00285 for consumers who qualify for its Tier 1+ credit tier. In order to give you an idea of what this truck's residual values are like, I need you to tell me exactly which model you want, i.e. a Double Cab 2WD, a Regular Cab 4WD, etc...

    Car_man
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    Prices Paid Forum
  • Ahhh, I see that you have already answered by question, dzgear. Toyota Financial Services' current base residual value for a 36 month lease of a 2006 Tundra Double Cab SR5 4WD with 12,000 miles per year is 54%. The problem is that TFS publishes residual value for base vehicles without any options. It places restrictions upon which options can be residualized and caps on the values of the ones that it allows. That means that this truck's real world residual value percentage is probably several points lower than this.

    Car_man
    Host
    Prices Paid Forum
  • jstranjstran Posts: 2
    Car_man, please let me know what the money factor and residual value is on a 07 Toyota Tundra SR5 Crewmax 4wd (36 mo,12k and 15k). I searched on the web with no luck. Thank you for your help.
    :confuse:
  • coyne2coyne2 Posts: 1
    Have a 2005 Tundra SR5 4x4 Double Cab with 13k miles on a 36 month lease. The lease expires next April (1 year) Would like a recommendation on the best way to get out of the lease. I could sell the vehicle outright but I think I have to pay MA state tax. Can I sell the vehicle without registering at the DMV to avoid MA 5% sales tax. Buyout is $23,300 right now with a $19,000 residual come next april.
  • sebring95sebring95 Posts: 3,231
    Easiest bet is to find someone to assume your lease. It looks like you're around $350/month which is a decent deal particularly because of the very low miles. The lease can be assumed by someone else very cheaply and then they can decide whether to buy-out or turn it next year. I have assumed a couple leases in the past and it worked out great. www.swapalease.com is the holy grail on this, but there are some other similar sites as well.
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