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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.
Car_man
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Car_man
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:confuse:
Car_man
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Car_man
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http://autoway.com/index.cfm?action=specials&subaction=specialscoupons&franchiseid=2284
Does this sound realistic or what is the catch?
Car_man
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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?
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?
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
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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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
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
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?
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.
Thanks Hoogy
Car_man
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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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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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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!!!
With special lease factors, you DO NOT get the cash rebates.
The only way you're described scenario would Not be a good deal, is if you're money factor was a typo. If the rate is .0029 (6.96%) instead of .00029 (0.696%) then you're right... nothing special.
If the rate is truly .00029, I'd have them knock another few hundred bucks off, then sign the paperwork and drive home in your new truck!
------------------------------------Toyota TUNDRA QUESTION -------------------------
Location: Texas
Model Year 2008
4.7L, Double Cab
Bedliner
Tint
Running board
Price quoted after Toyotal rebate: $25,411 (includes $3,000 factory rebate)
MF: 0.00029 (approx 0.7% APR rate)
I am looking to make sure that the MF and Residual are correct. I have not asked them for the residual yet but wanted to get actual or ballpark number for it.
--------------------------------------------- F-150 Super Crew Questions --------------
I am looking to buy F-150 SuperCrew. I am able to negotiate the following:
Cap cost - Purchase: $25,400 (after $4100 rebate)
(If they give me loan, it would be at 4.9% but I have to give up $1,500 in rebate)
CAP Cost - Lease: $26,900 with rebate.
Zip Code: 75006 (Dallas Texas)
I want to talk Lease Option with them for 3 yr with 45,000 miles. My credit is Excellent.
1: What are the MF and other costs that I should be worried about? They did say that the lease would be calculated at 4.75%. Is that equivalent to MF = 4.75% / 2400 = 0.001979? Does this not seem high?
2: What is the residual for this car?
3: What other things should I be careful about?
Can you please guide me here?
Also, if there are other pick-up trucks, I rather entertain instead of this, please suggest.
Thanks, vick
vcopell@yahoo.com
Go for the Tundra, more power and superior build quality over the Ford.
Why you not opt for the 5.7L engine? I can almost guarantee that it'll have a better residual value. Plus, it's more efficient along with being much more powerful than the previous generation 4.7L.
Invoice to $500 over invoice is a good deal on these trucks. If you decide to stick with the 4.7L, they should cap the cost at invoice.
BTW, when I asked to come down and see the truck to take it for a test spin, he told me that he didn't have one on the lot, only '07's......and would have to find one for me. I was thinking he might be trying to pull the old bait and switch.... so I also told him an '08 SR5 model would be OK as well (same deal)... that was last Thursday and I haven't heard from him since.....not sure if the Lease offers have expired or not...
2006, 4.7L, Double Cab, Running board, no DRL, no bedliner
Invoice: $26,872
CAP: $26.972
If Purchased: there is a factory rebate of $3000.
If you use 0% finance for purchasing, the $3000 disappears.
If you Lease it, the MF is 0.00029 and no $3000 compatibility. If you use regular MF (at 6%/2400), the $3000 rebate can be used.
(I will be seeing him tomorrow to get the residuals and more information on the rebate etc). He said I could call Toyota Financials and they will tell me the same as well.
I was still wondering if you or CAR_MAN can tell me national MF and residuals. This would help me discuss more.
Appreciate your answers, sir !!
---------------------------------
Agree that 5.7L is stronger and peppier but I do not feel like paying another couple of grand extra for that engine.
Ford drove well as well. I am only thinking of keeping such a truck for next 3 or no more than 4 years.
Ciao, v
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It's smart for two reasons:
1) If you like the truck and want to purchase at lease-end, the residual should be very close to wholesale, making it easy to purchase, knowing the pricing is in-line.
2) If you turn it in, Toyota (or whatever lending institution you borrowed from) can recoup it's money or at least break even at auction with a realistic residual value. Otherwise, they'd take a major hit since they purchased the vehicle upfront and only got paid the depreciation (the amount you paid). At lease-end, they're on the hook for the remaining balance of that vehicle.
Tundra 36 mo money factors:
Tier 1 + : .00029
Tier 1: .00039
Tier 2: .00074
Tier 3: .00134
* Rates could vary by region.
Call the dealer and ask him for the residual value based on your annual mileage requirments. 2wd/4wd, SR5/Limited, 4.7L/5.7L... they'll all have different residuals.
I am looking for residual and money factors. Southeast USA (Florida) for a tundra 4x2, 5.7 L, 6 spd auto (model 8262 on the toyota website) crewmax SR5, 24,36 month, 12k mi per year.
Thanks
Sam
Since I have not leased before I am hesitant because I am not sure if 3 yrs down the road the Tundra will be rock solid. Past experience with my current truck (dodge ram - low miles and lots of problems) and past SUV (ford explorer - also many problems) does not give me much confidence in reliability and value of some brands. Perhaps this truck is different, I just don't know.
I would like to keep my vehicle a long time and I don't put on many miles (maybe 5-7 k per year). I value safety for my family (which this truck has) and am just not sure how reliable this truck will be (that's why I do not want 2007 1st model year). But if it is, paying a little more to lease then buy is OK if I can keep the truck for 10 years (unless I hit the lottery and can buy a new on every year) !
I would rather have a higher residual to make it easier to walk away if I have problems than to be stuck with another lemon. It's all about risk... so far buying new vehicles hasn't worked out, thus my interest in a lease. I also had a Sienna in the past but that wasn't perfect either, since we had to use high-octane to avoid their dreaded engine sludge problems.
But, all in all, maybe I just need to try it out, accept the lower residuals and see how it goes. Perhaps it's just wishful thinking, but I believe we will see better deals in the summer when gas prices sky-rocket. I really appreciate your insight and opinions.....