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Toyota Tundra Lease Questions

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  • cwa318cwa318 Posts: 51
    Just leased the 07 Tundra Crew Max Lim. Great deal here in FL. Lease residual was 59% 36mon 15K and money factor was 2.9. Beat down the dealer to $750.00 over invoice plus got accessories at their cost. I felt good about the deal becuase it was one of the first ones they had. I think the fuel prices at near $3 may have helped the cause somewhat. Amazingly enough I am avergaing 15.7 - 16.00 around town with the 5.7
  • bmwk75sbmwk75s Posts: 18
    Sounds great, where in Florida are you and what dealer was it. What did your monthly payment end up being? Was this for the 4x4 or 4x2.
  • cwa318cwa318 Posts: 51
    Sarasota Fl. MSRP was 43500....start ups out of pocket...Just under 600 month....4x4
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, jstran. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Tundra CrewMax SR5 4WD with 15,000 miles per year are .00130 and 60%, respectively in most regions for consumers who qualify for its "Tier 1+" credit tier. Its 12,000 mile per year residual value would be 2% higher. The problem with the above residual value is that TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized, making it difficult to estimate vehicles' lease payments accurately.

    Car_man
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  • I have a copy of the invoice on a CrewMax Limited and I understand most of it, but there are some cost that I would like to find out about. TDA $732, Gasoline $10, Dealer Holdback $837 and Wholesale Financial Reserve $418. These cost are added into the invoice price of the vehicle and I just want to know if that is normal. I know not to include the dealer holdback in my deal, but what about the others? should I be paying them? Are they part of dealer's cost?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kaitlinsgp. The best way to look at vehicles' prices is to focus on their out-the-door price. Don't let dealers make the situation more confusing than it needs to be by adding all sorts of fees to your deal. Just focus on the big picture...you want to drive off in the Tundra that you are interested in paying the lowest total amount possible. It doesn't matter how your truck's price breaks down if you are getting the best overall deal. Check out the following discussion to get an idea of how much you should pay for the truck that you want: "Toyota Tundra: Prices Paid & Buying Experience". Once you have a ballpark number, comparison shop with a few dealers to see what the best out-the-door price that you can get is.

    Car_man
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    Prices Paid Forum
  • westtxwesttx Posts: 16
    Hi Carman, can you please tell me the current money factor and residual value of a 2007 Toyota Tundra Double Cab SR5 in Texas on a 36 and 48 month lease with 15k miles per year?
  • tori645tori645 Posts: 1
    Carman, would you please post the curren(june) money factor/residual for 2007 Tundra Double Cab Sr5, base, 36months 15k/yr? thank you
  • travisutravisu Posts: 1
    I'm looking to lease a 07 Tundra according to Autoway Toyota in FL i can lease one for 235.00 a month 48 months with no money down... sounds crazy but heres the link.

    http://autoway.com/index.cfm?action=specials&subaction=specialscoupons&franchiseid=2284

    Does this sound realistic or what is the catch?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi westtx. Unfortunately, I have not seen Toyota's lease program for its Gulf States region lately. Sorry that I could not be of more help.

    Car_man
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  • rmoreno1rmoreno1 Posts: 2
    Car Man:

    A dealer in Phoenix is quoting me a money factor of 0.0013 and a 53.9% residual for a 3 yr 12k mi/yr lease on a Tundra DC Limited I recently saw. I read above that the residual was around 62%. Is what he's quoting me a result of some of the options not residualizing or is he trying to take me?
  • noles2gnoles2g Posts: 3
    Carman,

    I looked at DC 5.7 with the XSP option, leather and 20' BBS wheels etc...msrp approx 35.800. selling price 500 over invoice with at 67% residual and mf of .0019? approx 5.7%?
    with a sign and drive...$555 pmt for 36 mo's and 15k a year. Why does it seem so high vs some of the other deals out there?
  • i am in the tampa bay area and i am in the market for the 07 tundra. most likely a least. can you all please advise me on the best way and the amounts i should be asking for. is there a prob with the sr5. v8. engine going bad. if so how much lower can i ask of the price. with so many ways for the dealership owners to mark up the price i know they will never loose money.
  • when does the 08's come out for the toyota tundra. does that mean that the 07's will have depreciated around 9300 once the 08's come out. someone told me that it dropps 9300 bucks the first year. what are you guy's thoughts. :confuse:
  • i would love to know the same thing. i am in the market for the same truck here in tampa bay florida. i am willing to travel to georgia and alabama if i have to to get a great deal. thanks in advance car man. :)
  • slojtslojt Posts: 1
    Carman,

    Do you have August (or July if you don't have August yet)money factor, residual value, etc for a 2007 Toyota Tundra Double Cab (Calif) for 36mo month lease with 12k & 15k miles per year?

    Have they changed the purchase incentives as of Aug 1?

    thanks,
    John
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi John. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Toyota Tundra Double Cab with 15,000 miles per year in its Los Angeles region are .00067 and 60%, respectively for consumers who qualify for its Tier 1+ credit tier. The residual value for an otherwise identical lease with 12,000 miles per year would be 2% higher.

    I believe that Toyota lowered its Los Angeles region cash incentive on the 2007 Tundra Double Cab from $3,000 in July to $2,500 in August. this incentive is not compatible with the above special lease program anyhow.

    Car_man
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  • Hi Car_man, Is the money factor the same for the Tundra Crewmax Limited 5.7L, 2WD? I'm wondering if you can give the 24mo. and 36mo. rates. 15K/yr. I'm in southern california. Thanks for the info.
  • Hey Car_man, i have about the same question as multiplechoice. Could you give me the money factor and residual on a Crewmax, Limited, 4X4, 5.7L with an MSRP of approx $43,000? I'm in the NE, MA to be specific.
    Also, is there a difference in the numbers if looking at 15K or 12K mileage? if so, do you have those? Almost forgot. I assume the 3yr lease is still the way to go...?

    thanks ahead of time...
    J88
  • Hey Car_Man & KYFDX,
    As a follow up to my orignal question, i visited a dealer over the weekend and in the breakdown they are showing me a monthly rental fee. i've been to three dealerships now and they are the only one that is showing me this fee. i called one of the other delaers i had visited previously and asked them about this charge and they told me they donot charge a monthly rental fee. is this fee something the dealership is doing to add to their profit or is it ligitimate.

    once again, i'm still getting conflicting information when it comes to the residual on these trucks, any help either of you can provide would be greatly appreciated.

    thanks
    J88
  • I am getting ready to lease a 2007 Toyota Tundra Double Cab with a MSRP $35,816 (with additional options) the sale price is $33,288. in Rhode Island

    The dealer is giving me $7500. for my 2000 Tundra trade-in
    bringing the financed amount to $25,788.

    The payment the dealer is quoting me (Tier 1+ financing)
    a monthly lease payment of $375. for 36 months and 15k miles. What is the rate for Tier 1+ financing?

    What is the new "special financing" incentive for leasing the Tundra prior to Sept 4th?

    How do you figure the residual percentage?
  • sebring95sebring95 Posts: 3,231
    I dunno, but you're getting ripped off on that deal. You shouldn't be asking these questions here, they should be telling you what they used to come up with those numbers. Residual should be somewhere in the $19,000 range. Never put anything down on a lease, that's my recommendation. Sell your truck outright or have them cut you a check for the $7500 and put that in your pocket.

    As for the purchase price, that seems quite high too. Invoice on a $35,000 Tundra should be around $32,000 plus there is a $3,000 rebate in your area. So a good deal would be $29,000. Sounds like they're giving you the rebate plus $500 off sticker. Big deal. It's a buyers market on trucks, don't get taken.
  • Son went to toyota dealer yesterday he said he could get him into a tundra lease between 300 - 400 per month. With no down payment and not to worry about mileage. I think that there is a catch somewhere. has any one else heard of this.
    Thanks Hoogy
  • sebring95sebring95 Posts: 3,231
    Sure it's possible. Now, how good of a deal he really gets depends on the model/term/etc. He needs to see straight numbers, not just chit-chat. What's the purchase price, residual, money factor, etc. If he's just shopping payment it's pretty easy to get screwed over.
  • Hey multiplechoice. Here's the information that you're looking for. Toyota Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2007 Toyota Tundra CrewMax Limited 2WD with 15,000 miles per year in the Los Angeles region are .00067 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier. The money factor for an otherwise identical 36 month lease would be the same, but the residual value would drop to 49%. TFS' residual values for non-Limited models are much better. Also, keep in mind that TFS only publishes residuals for base vehicles without any options. Unlike most banks, it places restrictions upon which options can be residualized, making it difficult to calculate the actual dollar residual values for vehicles.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey jericho88. Toyota's lease program for this model in its Boston region is different than its Los Angeles region program. In your area, Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Tundra CrewMax Limited 4WD with 15,000 miles per year are .00017 and 51%, respectively for consumers who qualify for its Tier 1+ credit tier. The residual value for a lease with only 12,000 miles per year would be 2% higher. As I mentioned in my previous post, keep in mind that these residual value percentages are for base vehicles. Unlike most other banks, TFS places restrictions upon which options can be residualized. This makes it difficult to determine the actual dollar residuals for vehicles.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey jericho88. The monthly rental fee is probably just the dealer that you spoke with breaking out the interest portion of your monthly payment. All leases through Toyota Financial Services have interest charges, regardless of what dealer you get your truck from.

    The reason for the conflicting information that you are receiving about the residual values for the trucks that you have looked at is the confusing way that Toyota Financial Services calculates vehicles' residual values.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi sbarney7. I see that you are considering trading in your current Tundra when you lease a new one. There's nothing wrong with doing this, but it would be in your best interest to have the dealer that you are working with cut you a check for the $7,500 in equity that you have in your trade rather than using the proceeds as a capitalized cost reduction for your lease. I always advise consumers against making cap cost reduction s when leasing. The main reason I do so is that if your leased vehicle is totaled in an accident or stolen and never recovered, part or all of any down payment that you made may just disappear.

    Toyota Financial Services' money factors for the 2007 Tundra vary by region. I believe that Rhode Island is in Toyota's Boston region. Its buy rate lease money factor for Tier 1+ customers in that area is currently .00017. TFS' current residual value for a 36 month lease of a 2007 Tundra Double Cab 4WD with 15,000 miles per year is 56%. Unfortunately, it is difficult to use this residual value percentage to calculate the actual dollar residual value for the truck that you are interested in because unlike most banks TFS places restrictions upon what options can be residualized.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Carman,

    What are the current residuals and money factors on 08 Tundra's in the Omaha, NE area (KC region?)? I'm looking at an 08 Dbl Cab Tundra Grade with an MSRP of $31433 for 3yr/36k miles. Also, if you lease through Toyota, do you still get the incentives (currently $1500 if you buy)? I'm getting ready to talk numbers with a dealership and want an idea if whatever number they shoot me is fair or not. Thanks!!!
  • Can anyone post recent information on loaded 2008 Tundra CrewMax Limited lease rates/deals?
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