Heys guys, been a lurker for awhile now, but never bothered to sign up. Well, here I am!
I went to a local dealer to get some info on a new lease, I am sick of buying cars and losing out on them, so I would rather have someone else do that! Ha!
Anyway, I was looking at a 2018 Tundra CrewMax SR5.
Numbers as follows:
MSRP: $45572
Sell: $45572 (States no incentives, cannot budge on price)
Buy Out: $36079 (Aprox 79% Residual)
MF (Refused to Disclose)
Payment: $596/ Month, 1st payment due upon signing, nothing else .
36k/ 3
I am struggling to find how this adds up, I get the part where I am paying $265/ month for the depreciation, and then 14.75 in taxes (5.5%) and then I get hung up on how I can have a finance charge of over $300/ month. Something does not seem right…
Another dealer a few hundred miles away got me a $499/ month for the same…$100+ a month in finance?
Does this seem normal? What am I missing? I have searched the forum for a few hours finding typical ranges in the $400 mark…
Run fast from that offer. No discount off MSRP on a non-exotic, non-limited production vehicle, that is an abomination. It’s a Tundra, not a Raptor. Also, unless dealer is pocketing rebates, you might be in a region which doesnt have the $2k + $2.5k rebates (I am also).
Here is a sample calculator that gets in the ballpark. ~8% interest. Remember in a lease interest is calculated differently than a purchase. Also, in a monthly tax state, you pay tax on the entire amount: depreciation + rent, so that would be $30.
Obviously this is in a different month, so the programs could be different, but here’s a post from the Trophy Garage for reference - Trophy Garage [ Photos ]
I had played around with it and got close to the number they gave me, but could not believe it…
They said the rebates were for purchase only…
The residual is high, but that MF is ridiculous… I wonder if the sales manager knows any better.
I may have to move on from looking at Tundras.
5.5% sales tax sounds like Maine. If that’s true, you might be in a tough area to find aggressive dealers. Perhaps you can go down to MA? I can steer you to some good dealers there that can beat TFS through HarborOne Bank.
I am not sure if I really want to take a trip to MA…I really prefer to deal locally and have gotten some really good purchase deals, up front anyway. It just seems that I pay on them for 3-4 years and still somehow end upside down. I am currently upside by about $4000 and am going to get a loan for it, sell it to a dealer and get into a lease and be done with it. Negative equity can be someone else problem. The trouble is that the dealerships I am going to expect you to see at $720 purchase price per month, and them wow over the lower $600 lease price and jump on it…
We bought it to be a family vehicle as we had a kid, and its starting to get smaller and smaller as time progresses. Looking to get something bigger. While it gets the job done, it does not get it done comfortably.
OT, but only one kid and it’s small? Do you have a Miata? I handle 3 in an ‘18 Accord no problem when I have to.
Your best bet is a used but previously loved minivan to beat to death if you’re concerned about “kid space” and plan on having more. I know it’s hard and not cool but trust me on this. I wish I had given into them years ago. They have horrible depreciation since no one wants them anymore, and who cares when (not if) your kid dumps a gallon of chocolate milk under the seat. We snagged a 2005 Odyssey Touring as a 3rd car for $2500 a few months ago and have put 10k trouble free miles on it. The lady actually greatly prefers driving it to her ‘16 Silverado. Already cheaper than any lease even if it catches on fire tomorrow also, getting kids in and out of the back of a pickup royally sucks.
It’s actually a Buick Encore. I’m 6’2” and have to have the seat almost maxed to be semi-comfortable. My kids getting bigger and we keep having to lug more stuff around; stroller, baby bag, passengers etc.
It’s manageable but not very ideal. I had always liked the Tundras and the crew cab is HUGE.
Our thought process was that we would be able to lease the Tundra competitively but my dealerships don’t really want to play fair with the numbers and expect the customers to accept. Their selling point is look how much cheaper this monthly payment is compared to buying…
I know. I’ve been in touch with some dealers as far as 400 miles away but a lot of them want to deal in person. I’m a little hesitant to get roped into a bait and switch scheme.
Gotcha. If it’s what you want get it, you don’t need to justify it to us on “we have a kid” grounds! Just test getting your kid in and out to avoid any regrets. One of my dumb simple joys of parenting is when my kids get in and out of the car seats and vehicle themselves. It was impossible in a truck for the little ones (ours are 3, 5 and 7). Just way too high. In a CrewMax you shouldn’t have the legroom issues (back of front seatback to front of car seat) like we had in our Silverado double cab though! Those things are truly massive. Good luck with your hunt!
That’s some positive news on the fitment and size. I got ahold of the sales manager at my local dealer and found out the sales rep padded the numbers to try and make it look like a better deal.
Anyway, I was looking at a 2018 Tundra CrewMax SR5.
Numbers as follows:
MSRP: $47572
Sell: $47572 (Stated invoice is $44224)
Buy Out: $30609 (Aprox 64% Residual)
MF (Did not disclose)
Stated she could get the payment as low as $536 a Month, 1st payment due upon signing, nothing else .
36k/ 3 years
Calculator has it at about $528 using the pre-populated MF of .00100.
Numbers are better, but am not sure what they are really supposed to be in my area, as Edmunds does not have any quotes posted for ME.
also, getting kids in and out of the back of a pickup royally sucks.