Please Analyze offer: 2020 Tacoma SR Lease with upside down Trade

New here with a fun situation. The dealer that I am working with uses US Bank and Ally, but naturally neither will bite on a 140% loan like TFS will. Dealer pulled my credit at 711.

2020 SR 4x4 Double Cab
RV: 77%
MF: .0021
Tax Rate 5.13
Active Military

Trade in is lower than expected. I’ve attached the screen shot for KBB trade in. The dealer has a bit of a “you should be happy we got you approved” feel on this one. I haven’t haggled the trade in price at all yet. I’d like to hear thoughts on it. They have moved quite a bit on their price. I would be on the road first thing tomorrow if they come up to the KBB trade price. Please evaluate. Thank you.

Am I missing something or do you want to refinance 13,000+ in negative at 0.00210 MF?

What prompted this financial suicide?

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The truck is aging and the Value drops off of a cliff at 90K miles. I don’t necessarily trust the truck to last forever. Theres a divorce involved as well. My thought is to eat the negative equity through a lease and then come out clean in 3 years. I currently pay $600 a month on the truck.

No it doesn’t. You’re just telling yourself that to rationalize such a bad decision

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your paying interest on all that money lol

Coming from someone with a Tacoma. I wouldn’t even pay $763/mo for a TRD Pro, let alone an SR.


What’s the current rate in the F-150 note? Depending on rate see if you can refinance it to a lower one. As a Tacoma owner I agree with the above statements, just keep your F-150 and maybe throw a little extra in paying it off sooner.

It sounds like you are in a rough situation. It is hard to navigate through those times, but make sure you make decisions with the light at the end of the tunnel in mind.

But stay away from financing that at a 0.00210 MF. You are going to be paying so much on your already huge loss.

This seems like a statement that a dealer would give to get you to make an impulse decision. Since you are running KBB, calculate the value if the mileage was at 91,000 miles or something. See what the difference is.

If you are worried about the mechanical reliability of your truck over the long term, maybe take it to a well-known and honest mechanic in your area and get an inspection done? It is not a Toyota, but it is certainly not a BMW.

I’d first love to hear how you owe $31k on am F150 with 90k miles. At first blush, I’m guessing you drive A LOT! Which means NO LEASE!

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I hope you’re joking OP. The fact that you’ve somehow convinced yourself that a truck with almost 100k miles is going to depreciate even faster is laughable.

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Perfect characterization.

Stop right there. Don’t worry about imaginary future resale values. You are driving $13k of negative equity to work every day, and it is cheaper to keep. If it’s safe and functional, put this aside.

What is the payoff on the F150? Original term? Interest rate?

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Sounds like you might have rolled negative equity into the F-150 deal?

What term are you asking for? 24 months, 10k miles is 85% residual fwiw

Not sure of incentives in your area but I would shop your truck around and try to get more for it if possible.

So many things wrong here- don’t even know where to begin. Guess to start I’ve seen that Tacoma lease under $200 with $0 down, which should put you around $560. 2nd never accept bottom end of KBB value. If you can get $2k more for trade should bring it down another $55… last, that truck will not die anytime soon. But if you’re unhappy guess better to pull trigger sooner than later :man_shrugging:t2:

The Payoff is 31,417. Originally financed 44,573, 3.49, 84 months.

Yes. We went in a little bit negative. The plan was to keep the truck long term. The situation changed and the miles went through the roof while I was away.

36/12 on the Tacoma.

Find a better MF to dump all that negative equity into, even though you shouldn’t, I feel like you’re in this position because you can’t help yourself.

Hey, brother!
Just an advice here, so I hope you don’t take this the wrong way.
As I checked, On 36/12k mile, it’s 70% and I hope you don’t choose this option.

You probably need to extend the months to 42 or shorten it down to 24, so that you residual is right where you are wanting to be at. I wish I was in CO, so I can help you with this, but unfortunately, I am in Texas. If you have any question, don’t hesitate to send me a message.

Thank you for checking the residual numbers.

The responses on here are strong enough that I am going to take a step back and give this a some time before I get into a bigger mess.


That’s a smart move.