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*Offer Details:
For well-qualified lessees with approved credit through Southeast Toyota Finance. Not all lessees will qualify for this payment amount. Closed-end lease on new 2015 Tacoma Double Cab PreRunner model # 7188, excludes TRD Pro, with automatic transmission and select equipment. Adding options increases payment. $275.00 per month for 48 months. $275 due at signing includes $0 down payment and first month's payment. No security deposit required. $28,703 Adjusted Capitalized Cost is based on down payment; excludes tax, tag, registration, title and dealer fees. Dealer fees vary by dealer. Monthly payments do not include applicable taxes. Lessee pays the remainder of maintenance after ToyotaCare expires, excess wear and tear, and $0.18 per mile over 12,000 miles per year. Lease-end purchase option is $20,199 and lease payments total $13,200. Disposition Fee of $350 due at lease-end. Cannot be combined with any other offers. Must take delivery between 08/01/15 - 09/07/15.
I'm in no hurry to get a new car, but the one I have is 11 years old. Therefore, I'm starting to pay attention to the new car market. I don't like most cars out there - they seem to all look alike. The only ones I like that I've seen (haven't checked out Lexus, Acura, Infiniti, BMW, or Mercedes - I'll have to take an hour or more drive one day to check out those brands.) are the Tacoma, the Colorado, and the Audi A3 and A4. I'm ruling out the Audis as my research says that they're extreme high-maintenance as they age. I tend to keep cars long term (7-12 years), so I've taken to liking Toyota - as they don't need to be babied and over-protected. I've never done a lease. They don't usually seem like a good deal to me. I like some of the above terms of the Tacoma, and my fico score is pushing 800; so I'm sure I'd qualify for the terms (but I also qualify for great loan terms as well). Generally I drive about 10-12K miles a year, so I'm good with the mileage terms. I also like the monthly payment on the lease (and basically no down payment) - even if it were to end up being in the low $300's, I'd be ok with it. What I don't like is the 48 months. I'd rather it be 36 months. And that end of lease purchase price - to me - would seem more compatible to 36 months rather than 48. If I purchased the truck after 4 years of leasing, it'd probably be an eight year payment experience. I don't mind a 6 year experience, and under certain circumstances, I could understand a 7 year deal. No way I'd go to eight. I really like the Tacoma more than the Colorado, but I like the Colorado enough that I'd go for it under the right terms. What I really want is zero interest, or 2% max (definitely keep it under 5%). The only thing complicating this is the popularity of the Tacoma. Does Toyota ever offer a better deal on the Tacoma than the lease program above? Do they ever offer zero interest on the Tacoma like they do on the Tundra? Does Chevy ever offer a great deal on the Colorado? Have any of you seen a better deal offered recently on Tacoma or Colorado, or is this the best promo I can expect? Thanks
Toyota seems to be subsidizing their leases to a large degree. I looked at a Rav4 and the lease rate was roughly half that of a similarly equipped Outback since Subaru doesn't subsidize.
If the lease rate is that low, it's almost without question a better choice to lease than buy. Then if something bad happens during the lease term (major collision) you can walk away at the end. If the truck is in good shape after 3 years, exercise the buyout. Depends mostly on how much money factor and residual are as to whether leasing is worth it.
Only thing is, I wouldn't want to lease for any longer than the car is under warranty. Like the OP said, if the lease was for 36 months and not 48, it honestly sounds like a no-brainer - and that's coming from a guy who is very anti-lease. My wife leased her CRV for 60 months. She was able to get out of the lease a year early - I don't remember all the details on it. But, I didn't like the idea of having to possibly pay to service a vehicle that doesn't belong to us. Not to mention that after about three years, she feel out of love with the thing.
Only thing is, I wouldn't want to lease for any longer than the car is under warranty. Like the OP said, if the lease was for 36 months and not 48, it honestly sounds like a no-brainer - and that's coming from a guy who is very anti-lease. My wife leased her CRV for 60 months. She was able to get out of the lease a year early - I don't remember all the details on it. But, I didn't like the idea of having to possibly pay to service a vehicle that doesn't belong to us. Not to mention that after about three years, she feel out of love with the thing.
Yeah, I'm hung up on the 4th year. $20K purchase price *might* be fair after 3 years, but not after 4. It seems like they're getting more money on the extra year than if it were a cash down deal.
Leasing's only advantage is you puts more car in the driveway for a smaller payment. The finances for total cost of ownership are always in favor of buying.
If leases weren't financially more attractive for automakers, they wouldn't push them like crazy.
Yeah, I'm hung up on the 4th year. $20K purchase price *might* be fair after 3 years, but not after 4. It seems like they're getting more money on the extra year than if it were a cash down deal.
I think you might be on to something on this statement. They're going to get their money one way or another. Just curious, what trim level is this Tacoma?
Yeah, I'm hung up on the 4th year. $20K purchase price *might* be fair after 3 years, but not after 4. It seems like they're getting more money on the extra year than if it were a cash down deal.
Well, remember that you can sell it/trade it for the equity. I bet you would get a $1-$3K over the residual at trade in/private party sale.
Quote:
Originally Posted by skinsguy37
I think you might be on to something on this statement. They're going to get their money one way or another. Just curious, what trim level is this Tacoma?
It is the Pre Runner, so 2WD trimmed out with beefier suspension and wheels, probably SR5.
Well, remember that you can sell it/trade it for the equity. I bet you would get a $1-$3K over the residual at trade in/private party sale.
It is the Pre Runner, so 2WD trimmed out with beefier suspension and wheels, probably SR5.
Ah, I see.
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