My friends trade-in is actually upside down ($33k value), based on all credible websites we’ve looked at, but they are willing to pay off the vehicle outright. He’s currently in an Ally lease, so this gets him out of that as well.
Yes, of course. Good, Bad, or Ugly . That’s why I posted this here.
I don’t feel like this is a great deal, but I’m not sure he could do much better due to the fact that he should have around $4k in negative equity in his Grand Cherokee, but, I’m not typically familiar with Toyota leasing.
I was thinking with the RV of the Tundra, he could be in the mid $500’s before tax with true $0 DAS which would require about a 9% discount. The MF is meh, so that’s why I wouldn’t expect much better. I admittedly haven’t ever looked into Toyota for leasing or purchasing, but from what I gather, I don’t typically see them doing huge discounts, but I feel that 9% could be attainable.
This is a deal that he got on his own and presented it to me. I was saying that he should shoot for 9% off instead of the 6% that they are giving him as it sits. That would calculate out to $553 + tax without a trade in. Are you saying that they are basically ‘baking-in’ the negative equity to make it look like they’re paying off the trade, but in reality, they are factoring in the negative equity in a different way?
We’ve gotten them to $639. They aren’t budging any lower. So I guess he will just have to make a decision. I think the biggest thing is that this would get him out of the Ally lease and the quickly depreciating Grand Cherokee. Not the best lease terms ever, but, certainly not the worst I’ve ever seen.
. That’s why I posted this here.