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2017 Toyota Tundra Lease Questions

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Comments

  • waylon99waylon99 Member Posts: 3
    Ever here of one on a Tundra?
  • sebring95sebring95 Member Posts: 3,241
    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 Member Posts: 21
    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 Member Posts: 7
    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 Member Posts: 7
    Oops I forgot to add...it would be a double cab, SR5, V8 with a sticker of around 29,500. Hope this helps.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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
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  • jstranjstran Member 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 Member 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 Member Posts: 3,241
    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.
  • cwa318cwa318 Member Posts: 79
    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 Member Posts: 21
    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 Member Posts: 79
    Sarasota Fl. MSRP was 43500....start ups out of pocket...Just under 600 month....4x4
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • kaitlinsgpkaitlinsgp Member Posts: 1
    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 Member Posts: 38,514
    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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  • westtxwesttx Member 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 Member 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 Member 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 Member Posts: 38,514
    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 Member 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 Member 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?
  • quest67277quest67277 Member Posts: 7
    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.
  • quest67277quest67277 Member Posts: 7
    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:
  • quest67277quest67277 Member Posts: 7
    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 Member 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 Member Posts: 38,514
    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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  • multiplechoicemultiplechoice Member Posts: 113
    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.
  • jericho88jericho88 Member Posts: 8
    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
  • jericho88jericho88 Member Posts: 8
    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
  • sbarney7sbarney7 Member Posts: 1
    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 Member Posts: 3,241
    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.
  • hoogyhoogy Member Posts: 1
    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 Member Posts: 3,241
    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • omahawrightomahawright Member Posts: 2
    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!!!
  • golden411golden411 Member Posts: 1
    Can anyone post recent information on loaded 2008 Tundra CrewMax Limited lease rates/deals?
  • builtitbuiltit Member Posts: 3
    golden411, I am in Ohio and spoke with a dealer today. Here's what he basically told me. For a 2008 Tundra CrewMax Limited, example was MSRP $44,500, Cap Cost of $41,777, residual at $22,576. Money factor .00029. I don't see than as a any kind of good deal and I don't know if it's timing (new year) or the region I am located. I know that in the south region (i.e. texas) deals and trucks are more plentiful. Actually, if you try to build and price a vehicle, you get different screens based on your zipcode. In Ohio, they don't even let you select the SR5 model because they don't ship them into the Ohio/Michigan/Kentucky/Tennesse region. Another kicker is that the rebates vary by region if you consider buying ($2500 in Ohio vs $3000 in Texas). I don't think dealers in Ohio have very much incentive right now because they are not looking at volume like other regions do.....
  • ocautoseekerocautoseeker Member Posts: 425
    That deal looks like they capped the cost at about $750 over invoice with a money factor that equates to less than 1% APR! How is that a bad deal?

    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!
  • vcopellvcopell Member Posts: 10
    Dear Car Man or other kind people:

    ------------------------------------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
  • ocautoseekerocautoseeker Member Posts: 425
    Need the MSRP for the residuals. Ask your dealer if those rebates are compatible with the special money factors/ lease rates, most-likely they are not. The dealer has no reason to lie about this as they are bound to pass along those savings if they apply.

    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.
  • builtitbuiltit Member Posts: 3
    ocautoseeker, that was no typo, yes, I agree with you that .00029 (under 1%) was fantastic. But at only a 54% residual for 3 years, that's nothing special. Maybe a 54 % residual after 5 years (which is more typical for Toyota), but not 3. I guarantee a 3 yr old Tundra will be much higher than that to buy outright in 3 years.

    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...
  • vcopellvcopell Member Posts: 10
    Thanks for replies. I plan on getting with him tomorrow for more details. Here is what I got from another dealer:

    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
    --
  • ocautoseekerocautoseeker Member Posts: 425
    A 54% residual based on 45k total miles is very realistic over 3 years, especially for a full size pick-up. Toyota subvents their leases in the form of low money factors and stays away from over-inflating their residuals.

    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.
  • ocautoseekerocautoseeker Member Posts: 425
    Not sure about Ford's programs.

    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.
  • osamaomarosamaomar Member Posts: 8
    Car man,

    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
  • builtitbuiltit Member Posts: 3
    ocautoseeker...... you make some good points. Perhaps I need to re-think my approach. Leasing and then buying at end-of-lease is my most likely approach since buying a fully loaded Tundra SR5 or Limited is out side of my price range.

    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.....
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