US Bank - Tundra SR5 TRD Sport Crewmax 24/10 $249/MO

Year, Make, Model, and Trim: 2020 Toyota Tundra SR5 Crewmax TRD Sport
MSRP: $48,638.00
Sale Price:$43,500.00
Monthly Payment: $197.00
Drive-Off Amount: $1,250.00 - I wanted my payment under 200/mo for S/O reasons =)
Annual Mileage:10K
Incentives:$3,000.00 Rebate

Thanks to everyone on the forum who contributes, this is my first lease so I studied a good bit.

Picked this truck up Saturday after weeks of debate with myself. The dealership made this extremely easy, despite me taking so long to close the deal. Inventory on this model was the hardest part of finding a deal but Continental Toyota had one and made it easy. I worked with Jackie in internet sales and Mickey on the floor. Give Jackie a call if you are looking for something in the Chicago land area, she is great to work with. (708) 716-4497


Nice deal. It looks like all in you are around $250 a month, not too bad for a nearly $50,000 truck :slight_smile:

Yeah, I think I can deal with that! The finance manager was not very familiar with US Bank leases and they seemed in shock over the payment.

Thanks for the contact! I just spoke to Jackie about doing an out of state deal.
She is checking now.

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That is what many here call FOLP :grin:

Fear Of Low Payment

More specifically, when you talk to a dealer about a target payment upfront and the number is much lower than they are used to seeing and they don’t understand what is truly possible, they will not take you seriously and or get scared they are missing something when the deal does get calculated.


FOLP is definitely real and the main reason I never negotiate based on monthly payment personally.

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Absolutely. I have tried it a few times just for fun (out of the God knows how many times I’ve contacted a dealer in the past decade), and when the true numbers possible are innfact really low, a very good percentage of the time they think you are a joker. The smarter guys actually take a minute to calculate it out themselves and then respond accordingly. The smartest salesman then actually buy the car themselves! I’m not kidding on that one…It happened to me on a 330e a couple of years ago.


No problem, she is great. I asked if it was alright that I shared her contact info and she was happy about it. Wait till she gets 100 phone calls from the low ballers on the forum! =)

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Gotta luv lease Hackr!

Outstanding deal! Congratulations…

Are the $3,000 in incentives on top of the discounted sales price of 43,500?

If that’s the case I ran the numbers manually and it seems like the depreciation is only ~$1,589 (Cap cost - Residual).

I read somewhere that US Bank needed that amount to be at least $2500, or else they wouldn’t fund the deal.

If the $3,000 are already included, then the depreciation would be ~$4,589 and you’ll be fine.

Did I misunderstood that statement? Am I using the wrong amount in my calcs?

I apologize if I used the wrong numbers or terms in my post.

Betolozada - The price of the truck was before the rebate, so yes the rebate was additional. That being said, the rebate shows as a cap cost reduction. Maybe that makes the difference? Hopefully the deal books, I am driving the truck =)

well Jackie is about to get a call from me if she can give me the same deal I get myself a Tundra!!!

You’re in LI aren’t ya? Gotta ship… this is from chicago.

Also, ty for your service! (I presume from the username).

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Goodluck, you have to use common sense on it. The deal is not that special for the dealer or us, what you are looking to get from the dealership is a 10.5+% discount on a Tundra SR5. IIRC Tundra SR5 has a lease limit just under 51K MSRP. So you have to find one that has the options you want, MSRP under that number. (Bloated 54K Sr5s with tons of dealer add ons will not work) TRD Sport and TRD Off-Road are perfect.

Negotiate the buy price to get 10-11% off WITHOUT THE REBATE. Once you have that, run a lease via us bank. Done deal. 24 month lease is the only thing viable. Other trims do not lease nearly as well (limited 1794 or whatever).

Summary. Find dealer with US Bank Leasing. Find Tundra SR5. Get 10-11% off buy price. Lease 24 Month via US Bank.


Thanks for the insights. What’s the approach with US Bank? Since some dealers seem to deal with them and others don’t, do you ask before even starting the deal? Or wait until the price is negotiated?

I tried to call in direct to the finance department and ask. They always told me. Helped me narrow down dealers. They don’t always talk to sales so you can get your answer and move forward or move on.

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Nice deal OP. For others interested, be conscious of the fact that US Bank will not let you sell to a third party before lease end, like Toyota Financial for example will. So if there is a chance you may need to sell it before lease end, regardless of whether you have positive equity, or how much it may be, you could be stuck.

Try swapalease

In this case the residual is so high, it seems impossible there will be equity. Good call out on US Bank though, not sure if they even let you transfer.

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Nice find :+1: