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Posted: 1/18/2021 2:46:58 AM EDT
[#1]
3k down, Residual value is $28,086
They are 31k new. Over 3 years you are paying 8725. |
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Posted: 1/18/2021 2:48:43 AM EDT
[#2]
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Posted: 1/18/2021 2:50:56 AM EDT
[#3]
Quote HistoryQuoted: 3k down, Residual value is $28,086 They are 31k new. Over 3 years you are paying 8725. Yes, But if you want a low payment, and have no intention of keeping it, it seems cheap to me. I get to use pre tax dollars instead of post tax dollars, as im self employed and also get 58c per mile Vehicles are not an investment, and this isnt my only vehicle, this will be for buisness use. 3k and 156 a month and always drive brand new vehicles every 3, I think this is amazing |
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Posted: 1/18/2021 2:53:04 AM EDT
[#4]
10,000 miles per year. Back in the day when I was screwing people over on leases, we never did one for less than 12,000 miles a year, and encouraged people to do 15,000.
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Posted: 1/18/2021 2:57:11 AM EDT
[#5]
Quote HistoryQuoted: Yes, But if you want a low payment, and have no intention of keeping it, it seems cheap to me. I get to use pre tax dollars instead of post tax dollars, as im self employed and also get 58c per mile Vehicles are not an investment, and this isnt my only vehicle, this will be for buisness use. 3k and 156 a month and always drive brand new vehicles every 3, I think this is amazing Do it then, just keep an eye on miles. You can pay for it your self at 58 cents a mile. That is over 15k for 3 years. |
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Posted: 1/18/2021 2:58:24 AM EDT
[#6]
Quote HistoryQuoted: Yes, But if you want a low payment, and have no intention of keeping it Why would you have no intention of keeping it? The whole point of owing a Toyota pickup is that "legendary Toyota long-term-reliability" - You drive it until the wheels literally fall off. If you're going to be dumping it after just a couple years of ownership, what's the point? |
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Posted: 1/18/2021 3:10:09 AM EDT
[#7]
Paying
But hey if you just want to say you have a low payment why not? It's only money and it's soon to be worthless. |
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Posted: 1/18/2021 3:14:54 AM EDT
[#8]
When did they add the tread depth as something on a lease? I've leased a few vehicles many years ago, two of them being 4x4's, and never heard of that.
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Posted: 1/18/2021 3:16:08 AM EDT
[#9]
My current truck ( 14 Ram Diesel crew 4x4) $490 a month , and trading it in, Im upside down 1000 dollars after 14 months. $1000+payments = $7860 spent in 14 months.......owning is too expensive.
I get tired of vehicles easily. (over 100k gross income before deductions) id rather drive new for 3 years and turn it in. using pre tax dollars. Also I want to dump my $490 payment for a $156 payment because im about to buy a home and it lowers My DTI. |
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Posted: 1/18/2021 3:32:41 AM EDT
[#10]
Quote HistoryQuoted: I get tired of vehicles easily. (over 100k gross income before deductions) Fortunately, there's a car deal for every mental disorder. |
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Posted: 1/18/2021 3:33:13 AM EDT
[#11]
Quote HistoryQuoted: When did they add the tread depth as something on a lease? I've leased a few vehicles many years ago, two of them being 4x4's, and never heard of that. fine print says 4/32nds remaining at turn in |
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Posted: 1/18/2021 3:40:11 AM EDT
[#12]
Quote HistoryQuoted: When did they add the tread depth as something on a lease? I've leased a few vehicles many years ago, two of them being 4x4's, and never heard of that. Hi, welcome to 2005 |
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Posted: 1/18/2021 3:48:42 AM EDT
[#13]
What's the buyout on it?
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Posted: 1/18/2021 3:49:31 AM EDT
[#14]
Quote HistoryQuoted: My current truck ( 14 Ram Diesel crew 4x4) $490 a month , and trading it in, Im upside down 1000 dollars after 14 months. $1000+payments = $7860 spent in 14 months.......owning is too expensive. I get tired of vehicles easily. (over 100k gross income before deductions) id rather drive new for 3 years and turn it in. using pre tax dollars. Also I want to dump my $490 payment for a $156 payment because im about to buy a home and it lowers My DTI. I think you are just doing funny math at this point to justify the decision you've already made, and I'd also like to point out that getting out of leases once you get tired of a base model Tacoma in three months is going to be a much more expensive lesson than being $1k upside down on your current truck. That being said, if you are going to go down this path no matter what it at least pays to shop around. https://forum.leasehackr.com/c/reviews/11 Browse around there, many dealerships there will offer better pricing than the spot-a-sucker advertising from your original post. Most will even ship to your door for relatively cheap. |
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Posted: 1/18/2021 3:53:03 AM EDT
[#15]
Quote HistoryQuoted: My current truck ( 14 Ram Diesel crew 4x4) $490 a month , and trading it in, Im upside down 1000 dollars after 14 months. $1000+payments = $7860 spent in 14 months.......owning is too expensive. I get tired of vehicles easily. (over 100k gross income before deductions) id rather drive new for 3 years and turn it in. using pre tax dollars. Also I want to dump my $490 payment for a $156 payment because im about to buy a home and it lowers My DTI. Bought a 94 Toyota 4x4 new and drove it to 2018, now drive a Tahoe I paid $9k for in 2009. Some people like sinking money In depreciating assets. If it makes you happy I say do it. |
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Posted: 1/18/2021 4:07:48 AM EDT
[#16]
While it's a cheap monthly payment and great if you need a truck for business use...
a) If you NEED a truck, you probably need more than a Taco. It's only like 1150/6400 pounds payload & towing (even a Ford Ranger is like 1700/7500). But I'd say most common "work" trucks are 150s/1500s and larger. b) 770 miles/month sucks. I mean, it's not even mediocre for a lease... that sucks. |
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Posted: 1/18/2021 4:14:47 AM EDT
[#17]
Quote HistoryQuoted: While it's a cheap monthly payment and great if you need a truck for business use... a) If you NEED a truck, you probably need more than a TACO. It's only like 1150/6400 pounds payload & towing with a 640LB tongue load. b) 770 miles/mo sucks. I mean, it's not even mediocre for a lease... that sucks. Have a duramax 2500 for heavy trailers and real work. want to keep miles off it. I need a truck for property management / landlord/ real estate sales that is good on gas. |
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Posted: 1/18/2021 4:15:46 AM EDT
[#18]
Quote HistoryQuoted: What's the buyout on it? 28k...the reason Id never buy it out, just turn it in. |
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Posted: 1/18/2021 4:16:22 AM EDT
[#19]
Quote HistoryQuoted: Paying But hey if you just want to say you have a low payment why not? It's only money and it's soon to be worthless. Doubt. |
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Posted: 1/18/2021 4:17:03 AM EDT
[#20]
Quote HistoryQuoted: I think you are just doing funny math at this point to justify the decision you've already made, and I'd also like to point out that getting out of leases once you get tired of a base model Tacoma in three months is going to be a much more expensive lesson than being $1k upside down on your current truck. That being said, if you are going to go down this path no matter what it at least pays to shop around. https://forum.leasehackr.com/c/reviews/11 Browse around there, many dealerships there will offer better pricing than the spot-a-sucker advertising from your original post. Most will even ship to your door for relatively cheap. Whats funny math ? Last I computed the numbers im saving money, and paying for it pretax there is no "funny math" just real data |
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Posted: 1/18/2021 4:22:40 AM EDT
[#21]
Being self employed doesn't mean you can legally write off a leased car. You can't use it to commute from your house to work or for other personal use.
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Posted: 1/18/2021 4:24:10 AM EDT
[#22]
Quote HistoryQuoted: Whats funny math ? Last I computed the numbers im saving money, and paying for it pretax there is no "funny math" just real data You're paying more than you have to to drive that truck for three years, because it isn't going to depreciate that much. The resale on Toyota trucks is nuts, better off buying them new. Last thing I'd choose a lease on. |
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Posted: 1/18/2021 5:40:56 AM EDT
[#23]
Quote HistoryQuoted: Being self employed doesn't mean you can legally write off a leased car. You can't use it to commute from your house to work or for other personal use. Found the loophole 
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Posted: 1/18/2021 6:00:05 AM EDT
[#24]
Thinking about buying 2021 Tacoma Pro....almost 48K. Am I doing it wrong?
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Posted: 1/18/2021 6:18:54 AM EDT
[#25]
I can’t imagine ever not going somewhere because I don’t want to go over my 10K miles that year.
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Posted: 1/18/2021 6:22:50 AM EDT
[#26]
That thing is not good on gas
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Posted: 1/18/2021 6:33:53 AM EDT
[#27]
Quote HistoryQuoted: That thing is not good on gas This looking at 14-17 mpg combined. |
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Posted: 1/18/2021 6:39:22 AM EDT
[#28]
Quote HistoryQuoted: Being self employed doesn't mean you can legally write off a leased car. You can't use it to commute from your house to work or for other personal use. Oh brother  The government has its hand in every pocket we own, they're screwing us in every orifice of our body, they give billions upon billions away to countries that want us destroyed and you're worried that the King's men are going to get "cheated" out of some chump change. Some people were just born to live under a boot. |
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Posted: 1/18/2021 7:39:09 AM EDT
[#29]
Quote HistoryQuoted: That thing is not good on gas My coworker has one same setup except ext cab. He gets 20-21mpg mix and longer trips hit 23-24. He drives like a geezer but that’s pretty damn good in my book. |
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Posted: 1/18/2021 7:52:14 AM EDT
[#30]
Quote HistoryQuoted: Wow Bought a 94 Toyota 4x4 new and drove it to 2018, now drive a Tahoe I paid $9k for in 2009. Some people like sinking money In depreciating assets. If it makes you happy I say do it. Quote HistoryQuoted: Quoted: My current truck ( 14 Ram Diesel crew 4x4) $490 a month , and trading it in, Im upside down 1000 dollars after 14 months. $1000+payments = $7860 spent in 14 months.......owning is too expensive. I get tired of vehicles easily. (over 100k gross income before deductions) id rather drive new for 3 years and turn it in. using pre tax dollars. Also I want to dump my $490 payment for a $156 payment because im about to buy a home and it lowers My DTI. Bought a 94 Toyota 4x4 new and drove it to 2018, now drive a Tahoe I paid $9k for in 2009. Some people like sinking money In depreciating assets. If it makes you happy I say do it. I'm still driving a 2005 Dodge Ram 2500 Cummins that my personal company owns. I've been considering something else, but I can't bring myself to spend the money and take on a payment. |
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Posted: 1/18/2021 8:29:35 AM EDT
[#31]
My son looked into a similar deal. In the finance room they add on all kind of stuff. Gap insurance was like 100 a month! They tell you toyotas hold their value then show you a graph showing that your upside down the entire lease. 7K the first year and just under 4k when you turn it in. We walked.
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Posted: 1/18/2021 8:33:47 AM EDT
[#32]
10k miles a year? Nope. I dont know anyone who does that.
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Posted: 1/18/2021 8:42:10 AM EDT
[#33]
Quote HistoryQuoted: 10k miles a year? Nope. I dont know anyone who does that. I do, if you work from home its easy to drive less 10k miles a year. |
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Posted: 1/18/2021 8:45:54 AM EDT
[#34]
It does not make financial sense. If you just like driving new vehicles and understand that the difference you are paying is the penalty cost to always have a newer vehicle you can rationalize it that way. Just don't pretend that you are getting a good deal, are saving any money over buying, or are making a good financial decision. If you want to spend your fun money renting a truck instead of eating out or buying guns you do you.
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Posted: 1/18/2021 8:45:56 AM EDT
[#35]
I leased a 2017 Tacoma for three years. I wanted to really see if I liked it without buying it. So, yeah, I threw away that money but it did accomplish what I wanted. At the end of the lease I traded it in on a F150. The truck was ok, but just ok. Not enough interior room and not all that nice inside and the auto trans sucks balls. In Va be prepared for your payment to include the property tax come tax time. Toyota pays it and adds it to that months payment. For the ‘17, in Fluvanna County, that was over $400 increase in the payment twice a year. When I traded it I basically came out even on the money, I was just barely over on the 36K miles allowed. The F150 is a much better truck in every way.
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Posted: 1/18/2021 8:47:16 AM EDT
[#36]
Quote HistoryQuoted: Do it then, just keep an eye on miles. You can pay for it your self at 58 cents a mile. That is over 15k for 3 years. Since he's the paying the 58 cents a mile that 15k is just a tax deduction, not an actual $15,000 free dollars |
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Posted: 1/18/2021 8:52:22 AM EDT
[#37]
Some people will always be able to fuzzy math their way into getting the shiny object they want.
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Posted: 1/18/2021 8:55:03 AM EDT
[#38]
Tanstafl
We won't lease again. |
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Posted: 1/18/2021 8:58:48 AM EDT
[#39]
Why not buy a new 2500/3500 or vehicle over 6k lbs and write the whole thing off in the first year?
Sell your old 2500 for cash. Only pay one insurance/registration. |
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Posted: 1/18/2021 9:18:08 AM EDT
[#40]
Why would the IRS give the 58 cents a mile when gas and any repairs would be pretax?
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Posted: 1/18/2021 9:29:27 AM EDT
[#41]
Just my $.02 - I've always been of the opinion it's probably better to buy intrinsically high-resale mid-range/economy cars/trucks, while leasing high-depreciation luxury cars.
That said, of course Tacoma's are one of, if not the highest-resale vehicles you can get. So it doesn't seem to be a good play to lease, even if you do get tired of it in a few years and want to unload it. You could buy that same new SR for ~$32.5k after TTL with a less than 3% APR (if you've got decent credit), drive it without silly mileage limits or tire-wear restrictions, and offload it in 3 years for ~$26-27k. Of course, if your goal is low, low payments and not the overall financial sense of the transaction, nevermind. |
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Posted: 1/18/2021 9:32:13 AM EDT
[#42]
Since when did TFC start charging charging over a grand in acquisition and processing fees?
 That might be the norm these days, but it's still sketchy as hell and reminds me of a Chase Financial lease agreement from the bad old days. If you are considering this deal, then you need to get the wear and tear policy in writing from the dealer. Most dealership personnel will only tell you what you want to hear. Candidly, it sounds like you've already taken emotional ownership of both the truck and the deal. Just be careful  |
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Posted: 1/18/2021 9:35:31 AM EDT
[#43]
TL;DR: Don't lease cars with high residuals.
The monthly payments you posted are without taxes, so your payment is more like $250+ Thats almost $10k in payments, plus the $3k you put down, so you're paying $13k. Additionally, (at least in NJ) you'll be paying for extra insurance required for a lease. Buying it at the end of lease will be a huge loss for you, so that's really out of the question. The dealer will turn around and sell it for $29k and make probably at least $10k off you. Then they'll get you into another lease for a "deal" and get more money from you, all while you have nothing except permission to drive one of their cars. |
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Posted: 1/18/2021 9:39:29 AM EDT
[#44]
Doesn't sound terrible, but have you driven one? Pretty cramped for anyone over 5’8. Make sure you like the reality and not just the fantasy.
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Posted: 1/18/2021 9:58:35 AM EDT
[#45]
Quote HistoryQuoted: This looking at 14-17 mpg combined. Quote HistoryQuoted: Quoted: That thing is not good on gas This looking at 14-17 mpg combined. I get 14.7mpg on '19 F150 Supercrew FX4 4x4 V8 5.0, in Sport mode with a heavy foot..... |
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Posted: 1/18/2021 10:08:43 AM EDT
[#46]
I leased one for daughter. Needed a low fixed monthly payment, good "commuter truck and weekend use" . Toyota traditionally structured leases to a have substantial equity at the end of the lease sometimes 4k or more, payments around $400-450 a month. Now that Ford and Chevy have reentered the mid-size market Toyota is now playing the pricing game, no more equity at the end of the lease but low monthly payments. The V6 SR is a really basic truck. AC, power windows, radio cloth seats.
If you are towing a camper get something else, a small landscaping trailer fine. The V6 is strong enough, but power only builds over 4k rpm. Transmission is always changing gears. Great truck for a lease. |
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Posted: 1/18/2021 10:15:53 AM EDT
[#47]
Quote HistoryQuoted: Yes, But if you want a low payment, and have no intention of keeping it, it seems cheap to me. I get to use pre tax dollars instead of post tax dollars, as im self employed and also get 58c per mile Vehicles are not an investment, and this isnt my only vehicle, this will be for buisness use. 3k and 156 a month and always drive brand new vehicles every 3, I think this is amazing Quote HistoryQuoted: Quoted: 3k down, Residual value is $28,086 They are 31k new. Over 3 years you are paying 8725. Yes, But if you want a low payment, and have no intention of keeping it, it seems cheap to me. I get to use pre tax dollars instead of post tax dollars, as im self employed and also get 58c per mile Vehicles are not an investment, and this isnt my only vehicle, this will be for buisness use. 3k and 156 a month and always drive brand new vehicles every 3, I think this is amazing Do you have an accountant because it sounds like you are leasing it through the company and also taking the federal mileage rate which I think is double dipping. |
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Posted: 1/18/2021 12:36:32 PM EDT
[#48]
It's probably not a bad deal for certain special circumstances. But for the average truck owner, it's likely not a good deal. With only a 10k/year mileage allowance, that's really low for most commuters. I don't have a major commute and don't drive all that much. I'm at around 15k miles a year.
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Posted: 1/18/2021 12:42:31 PM EDT
[#49]
Quote HistoryQuoted: My current truck ( 14 Ram Diesel crew 4x4) $490 a month , and trading it in, Im upside down 1000 dollars after 14 months. $1000+payments = $7860 spent in 14 months.......owning is too expensive. I get tired of vehicles easily. (over 100k gross income before deductions) id rather drive new for 3 years and turn it in. using pre tax dollars. Also I want to dump my $490 payment for a $156 payment because im about to buy a home and it lowers My DTI. You're forgetting taxes, plates, dealer doc fee, etc. You won't be paying $156/mo. Generally figure about $30 for every $1000 |
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Posted: 1/18/2021 12:45:17 PM EDT
[#50]
Quote HistoryQuoted: Paying But hey if you just want to say you have a low payment why not? It's only money and it's soon to be worthless. I'll take "Things that never happened" for $500, Alex |
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