I’m currently on the hook for $1,000 as a security deposit while they “attempt” to find the right vehicle for me. They’re expecting the Tacoma trd sport premium will be built to fit but be ready by the end of the month. I’m thinking over and reading more and realizing I may not love this lease.
I was going to put $4,500 down on top of the $1,000 so $5,500 and that was going to leave me with ~$480 36/15k. We didn’t crunch numbers, I was just looking to be in the ball park of $450 but as I’ve researched it sounds like I am biting a bigger payment than I should be.
I did sign my payment for the security deposit. I’m assuming they won’t let me get out of that and I may forfeit it. However I think this is a bad deal and want to stop before I get too far. I will be messaging him tomorrow to try and get more factors for the price like RV etc. is there anything I should specifically ask to see?
You are so far out over your skis here. Even if they keep your $1000, it’s probably worth it to walk away.
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
A TRD SPORT 4X4 Double cab is $475 with $1200 Down.
That deal 480 with 5000 Down they are giving you is REALLY BAD.
And is that really the sticker? That looks like a Dealer Sticker instead of an OEM Sticker.
I believe you’re right. I dove head first into the idea of leasing this to get out of my canyon and didn’t research before going to the dealership. I appreciate your post, I will more than likely just bite the bullet on the $1,000 and go through and find what works for me via the steps you laid out. Thank you
That was the dealer sticker, but I’ve definitely got some leg work to do and I’m just glad I can try to save face before I signed a full fledged contract.
Dealer stickers don’t work well with Leases because ‘Dealer Add Ons’ don’t count toward MSRP and RV.
That’s probably why they want $5k down, to pay for that overpriced stuff.
No not always, IIRC some things CAN be residualized with Toyota. Ask @Cody_Carter or @derekoh1991 or @Jrouleau426 as they’re usually on trucks and I don’t get many of those in DC!
What does your paperwork say? Does your state allow non-refundable deposits? It may not be a lost cause to try looking into those things first before writing off $1k…
Please reach out to @Jrouleau426, I’m in Los Angeles (one of the highest taxed areas) and leased a similar Tacoma through him for barely anything down, with a way better payment. In my mind, it’s definitely better to walk away from this deal and pay the 1000$
I don’t have any premiums right now but if I did it would be around 360/mo 36/10 with msds. 385 without. Indiana tax tags fees included. Just for a baseline. If you’re not in a rush I should have more next month.
They should give you your deposit back. Most states don’t allow that to be forfeited. Shouldn’t be hard to find out.
$800, which was more than covered with the down payment I was considering. I’m going to get with them, try and get the deposit back and wait for the right setup. I’m in no rush, I was just being impatient.
Text me around April 20th and I should have some premiums you can reserve for early/mid may. I have only need getting 4-5 of them each month lately and they sell very fast so just be ready to lock one in as soon as it pops up.
Jim
215-359-6836
I also post inventory weekly here in my last few posts. First post contains background info and pricing so read that as well. Thanks!
’s for this $450/mo with $5500 down, or two SR 
or 2 