Rate my Tundra Lease - The calculator doesnt match the worksheet?

Ask the Hackrs
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1

Hi everyone,

After spending a few hours reading in this website, I was able to negotiate (mostly by email) a decent enough deal for a 2020 Double Cab 4WD SR5 Toyota Tundra.

I had one outstanding payment on previous lease (LMTD Tundra @ $434/mo) and the dealership absorbed my last payment in this deal. I also added Excess Wear and Use up to $7500 for $836.00.
Got $1000 in rebates from Toyota applied to the price (I think it was $500 for renewing the lease and $500 for a promotion)

My monthly payment after tax is $398.40 for 36/12 and the numbers i got from edmunds.com were: .00068 and 68% (SR5) but there is no way that I can match what I see on the worksheet to what the calculator shows:

what am I doing wrong?

This is scan of the worksheet:

lease-worksheet
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This is what i get from the calculator, without even adding the Wear and Tear protection (where should I add it?) goes to $412 after tax:

Was it a good deal? I have see a lot better numbers in this site but: 1. not during this COVID situation, 2. not usually in FL.

Thank you all.

2

Ok, I added the Wear and Tear Protection and I lowered the selling price as needed to match the payment:

Are my figures in the calculator correct? I dont see the $38,680 selling price or even another figure close to it in any place of their worksheet.

3

Its not a COVID or Florida issue. The deals are all US Bank leases on SR5 CrewMax on 2 year leases.

4

The mf in your calculator doesn’t match what’s in the deal sheet.

5

The residual is way off, my man.
It’s 63% on 36/12k miles, and 71% on 24/12k miles.
You might be able to get it a lot cheaper with @Jrouleau426 though.

6

Not really. It’s combination of both.

7

Are those the residuals for SETF, which is likely what bank the dealer in Florida is using?

8

From what I understood, and mostly due to COVID, the inventory in general is really low.
FL: most of the great deals I’ve seen on this website are not exactly from FL. Some folks even choose to ship from other states (Toyotas)

9

Not with SETF, you might be looking at US Bank numbers?
SETF doesn’t even offer 24 months at the moment, according to what I investigated.

10

I did talk to @Jrouleau426 and his offer was very attractive, unfortunately once I factored shipping and broker fee the total went beyond my plan. Like I said before, FL is kinda special… but we have all those beeches and warm weather :slight_smile:

11

It’s US Bank. That isn’t with SETF.

12

My deal is with SETF, which I believe is the only option for SFL dealers (is that right?)

13

SETF doesn’t do 24 months because they are afraid if they would lose too much money.
It looks like on the paper that you aren’t discounting at all!
At least one dealer in FL has US Bank as their lessor.
Ask @RockyStadiumToyota!

14

Then your original comment is pointless, since his deal is through SETF

15

My analysis:

shows me a 10.5% discount from MSRP, is that what you are referring to?

But you are right, and this is my question: I cant locate that amount on their worksheet. The rest of the amounts including the monthly payment (all I care for, since zero down) matches.

16

What he thought and what I thought was different. So, it really wasn’t pointless. He didn’t state what bank he was going to. I was simply replying to what undocumented had replied to OP.

17

Yes! I noticed that too.

SETF: 0.00068
Dealer Worksheet: 0.00038

Almost half! Can they do that? Isnt the lessor supposed to set the minimum MF? I read they can bump it up, but lower it?!

Here is the calculation w/that MF:

Dealer Price goes up to $40.3k which is only a 6.5% from MSRP

18

Are you sure it’s a $0 DAS deal? The dealer’s worksheet doesn’t seem to indicate that. Also, I don’t see any $1k on the worksheet either.

19

The truck is on my driveway. I paid the first month (a check equal to the initial payment amount).
35 more payments ahead.

20

Actually the first payment was less, only $373.15

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