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Toyota Tundra Lease Questions

145791012

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  • I ended up going with the deal. Drive offs were $0, cap was $33000, residual was $17,500, I was told .00059 MF because my wife was Tier 1+ and I was Tier 3, 36 month, 15K miles per year, $489 per month. How did I do with my first Toyota deal?
  • The deal's been made... just enjoy your new truck now. Congrats!
  • Does anyone know if the lease money factors are going to also be available in March?
  • stef3stef3 Posts: 25
    Hi Guys, I need a little feedback on this offer.
    Toyota Tundra Double cab, Limited, 4x4
    MSRP $39985
    Initial Cap Cost $38412
    Adjusted cap cost $38907
    Lease term 36 months, 12000 miles/year
    Money factor 0.00059
    Residual 52.33%
    Down payment $0
    Tax rate 7.75% (Los Angeles Area)
    Monthly payment $576 including tax.

    Is this a good deal? I got so confused that I can not see it anymore ....

    Thank you for your help!!!
  • rlaryrlary Posts: 18
    No, I wouldn't say that was a great deal. Heard of much better. The rebates have been better than that. Last I Heard 2750.00 in rebates and most dealers discounting at least that much again. Your looking at 40k limited. I think you can work much better deal. Residual also seems low. Usually around 56%-57%. The lower residual will raise your payments but make it more attractive if you decide to buy it, or perhaps you could see a little trade equity next time around. Lease rate isnt bad but I have seen .0002x. I would shop around big time.
  • stef 3,

    They need to knock at least another $1000 off the cap cost to put you right around invoice.

    The residual you stated IS accurate and with TFS's special money factors, you DO NOT get the rebate.

    Get me the VIN and I can pull the invoice for you.

    Is your credit over 730? What dealer are you working with?
  • stef3stef3 Posts: 25
    Thank you all for your help.

    As far as credit, I have 744, pulled just 3 days ago, and I am confident about this number ... I have leased from Toyota my previous 2005 Tundra, and I am leasing 3 other cars so I think I qualify for any promotion they might have.

    I have this quote from Crown Toyota in Ontario California, but I think I would get a better and easier deal with Longo Toyota.
    I just found a truck I would be interested in on their website:
    VIN: 5TFBV58148X053419
    It is listed with MSRP $$40,503
    Here is the link to the car: http://www.longotoyota.com/VehicleDetails/914545334

    I would appreciate your help with this truck. When I finish the deal I promise to leave the deal details as reference for all you guys.
  • stef3stef3 Posts: 25
    Thank you,
    I will do more work on this and let you know.
  • I am enjoying the truck so far. A bit of an adjustment coming from Chevy's.

    But I was really looking for some feedback on the deal. As I have friends/family members in the market for a new truck as well and wondered if I should refer them to this dealer or have them shop elsewhere.
  • Invoice on this truck is $36,993. 36/12k residual is $20,273 (50%)

    Assuming a cap cost of invoice.

    .00059 = ~$537/mo .00029 = ~$520/mo (figures includes sales tax)

    If you roll in the acquisition fee, 1st month payment, and dmv fees so you have $0 drive offs:

    .00059 = ~$579/mo .00029 = ~ $560/mo (figures include sales tax)
  • stef3stef3 Posts: 25
    ocautoseeker , thank you for your time and help.

    Today I found the perfect truck Tundra Double Cab Limited 2x4
    The dealer was nice, but from start he pushed the numbers high and asked me to make a counter offer.

    Here are the data for this truck:

    Tundra Double Cab Limited 2x4
    VIN: 5TFRV58188X049100
    The sticker is $38502 including options and delivery:
    ======================================
    OF, - TRD offroad
    BL, - BedLiner
    C4, - Carpeted Floor Mats
    C8, - Convenience Package - Stainless exchaust tip, pedals, shift knob anodized
    RB, - Stainless side steps
    5J, - Rear view monitor with parking sensors
    7J, - Licence plate bracket
    Delivery $685
    ======================================

    The lease terms I asked for 36months/15000miles.

    At this request the residual he gave me was $18812(by the book)
    The money factor was 0.00059
    Drive off $1120 (including all fees and first month)
    The local tax rate is 7.75%
    His offer was $643 including tax.

    I know already this is out of question and I do not feel playing games for hours to get the numbers more realistic.
    I do not know how to calculate the lease in detail but I think with this drive off, I should be around $500 including tax and still give the dealer something over the invoice.

    If is not too much to ask please run the numbers for me so I will be more confident making a counter offer.
    What do you think shoud be a decent amount over the invoice?
    What is the 0.00029 money factor ? I have seen it on his list and in your calculations as well.

    Thank you again.
  • stef 3,

    That joker (dealer) hit you at full tilt on that quote!! Toyota also has a $550 acquisition fee, which most dealer's just roll into your payments, but I'd recommend paying it upfront in your drive offs - up to you, though.

    Now, with your excellent credit, you should get the "buy rate" mf of .00029, and assuming a cap cost around invoice at approx. $35,000, you should be out-the-door for ~ $502/mo. I'll get the actual invoice numbers for you in the morning, but it's gonna' be right around the numbers I just posted.
  • Is the .00029 MF with a Security Deposit or something?...or is that the current rate?

    Trying to run some numbers on various 08 Tundra CrewMax 4x4 Limited configurations. Can you please tell me the MF and residual for Tier 1 / Tier 1+ credit for 36 months / 15,000 MPY?

    Looking to make this happen this weekend. Thanks!
  • newtoy08,

    From your numbers, it looks like $33,000 is your adjusted cap cost which rolls in the 1st mo. payment, dmv fees, and acquisition fee which would roughly equate to around $1400 in which you would have paid up front in drive offs.. If this is the case, and again, I don't have enough information from your post(s), but guessing this is the scenario, it would appear that your initial gross cap cost was right around invoice, so yes, you did good.
  • I think that's what's happening. 3 different dealers have told me .00059 is the best on the CrewMax.

    Let me know what you find out.

    Thanks!
  • If .00059 is the base factor on your model, then paymenst would be, $623.27/mo

    If .00029 is the base factor on your model, then payments would be, $602.16/mo

    Again, let me double-check on the numbers and see how and if they differ from certain trim levels and I'll get back to you shortly.

    Apologize for any confusion.
  • OC,

    This is the current deal I have:

    2008 Tundra Crewmax 4x4 Limited -

    Factory Installed Accessories: FE AL KG NV RL SR BL CF

    MSRP - $47,046

    My price - $42,368

    He's telling me the residual for 36 Months/15K MPY is $22,931 and states there is no .00029 Tier 1+ rate. Is this right?

    Can you tell me what kind of payment I will be looking at with the .00029 and .00059 MF respectively? Assume I will pay all drive offs up front and tax rate is 7.75%.

    Thanks!
  • Let me confirm with my leasing source and my local toyota contact on the numbers and I'll get back to you with the current mf.

    My numbers show that tier 1+ customers qualify for a base rate of .00029, but Toyota can be weird and limit it to certain models and trim levels (i.e DC, not Crewmaxx, 2wd, not 4wd, etc...)
  • stef3stef3 Posts: 25
    ocautoseeker , ....

    If I consider all the other fees related to the lease and the first month payment, you are right, the numbers do not add up so the dealer rolled in the aquisition fee in the lease. I will double check as soon as I will have your answer on this truck.

    Thanks,
  • OC,

    Did you get a chance to confirm that info?

    Thanks!
145791012
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