It’s my first time trying to lease a car and these are the numbers I ended up with the dealership on a 2.0 Toyota supra can you please tell me if this is a good deal or not
MSRP : 49,185
Monthly : 620
Down payment : 4000
Miles : 10k a year
Location : Kansas
I don’t really know about the residual and money factors can you guys please help me out thank you
Edit : scroll down
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.
Subject to providing all the numbers and no surprises (such as a trade in with 10k equity), this is a good deal. I am surprised it is that low.
@Karthik_V , are you trading in anything? Is this 36 month lease? Does this include taxes?
It’s a 2.0 not a 3.0, and with 4k das.
Do the 2.0’s lease that badly?
It is including the sales tax
The forums at Edmunds are where we go to get RV, MF, incentives, as they have direct access to it from the captive banks.
You’ll want to post in the model specific thread for the vehicle you’re interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for “Edmunds lease” followed by the model of vehicle you’re interested in.
Alternately, you can try the Lease Program Query tool on the Leasehackr Calculator, available to Super Supporters.
Thanks for your reply , I have just posted it on the Edmunds forum asking for the MF and RF values
I will plug those numbers if I get any and put it on the leasehackr calculator
The initial 620 i mentioned all this time i was thinking that is for 3 years but today i have been told its 620 for 48 months with 4000 down
Your calculations are incorrect. Did you read the first reply above and follow it?
Im confused man the topic is merged i made a new one actually
They were merged because all related posts should be kept in one thread. The 1st reply still applies. Please read it to understand how to calculate lease payments.
what is the selling price of the supra? did they discount the MSRP at all?
you need the MF and the Residual to figure out the lease payment.
however i wouldn’t put $4000 down - the payment will appear to be less but its still the same payment. they just take the 4000 divide by the total lease months and apply that to your monthly to reduce it. its the same monthly your just paying a portion of it upfront. but if something happens to the car before the lease is up, your out the $4000.
So for 48 months with 4k down this is not a good deal. Total of all payments is around 35k on a 49k supra. You are better off with a loan on this. But it seems the dealer is not gonna even sell this at msrp. Bad deal.
Yea, youl could own 100% of a GR 86 at this price and it’s only 27-hp shy of a Supra 2.0.
GR Supra 2.0 has a starting msrp of 43,090. Even with the extremely overpriced tech package and delivery fee, it’s only 47k ish. So I don’t know how they got the msrp to 49k.
The msrp of a 3.0 non premium is 51,090 only. If you are paying 49k for a 2.0, you may as well get a 3.0…
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