I finally found a Tundra DC LTD with Navigation and DVD rear entertainment at a dealer approximately 300 miles from my home. They quoted me a $515 payment with a 18,000 miles/year (based off a 68% Residual with adjusted cap cost of $40470) and I had to walk in with only my 1st mth payment. I had a trade in and I was told before driving all the way there that they were giving me what my payoff was. When I looked at the original contract they were charging the security deposit which needed to be waived because of my Tier 1 Credit score and they weren’t giving me what my payoff was, they were just adding the difference to the price of the new vehicle. Needless to say I took them by surprise and made it clear that I would go right back home. They thought just because I drove 300 miles I would do whatever was thrown in front of me, But they very quickly worked up something new and gave me the extra $500 for my trade in and took off the security deposit which took my Cap cost down to $38277.73 and now made my payment 476.18 with 18k a year along with coupons worth a full year of maintenance and oil changes from Toyota due to the misunderstanding. I obviously took this deal. However before I left they tried to get me to sign a blank ( yes I said BLANK) lease contract just in case Toyota Credit found an issue on it then they would just correct it real quick and have it taken care of without causing me a hassle. Needless to say I told them they could overnight me the contract if that happened and we could work out the details from there.
Today they called and guess what???? Something was wrong. They need me to sign a new contact because they screwed up the residual value. Toyota is telling them it needs to be based on 55% and not 68% but supposedly my payment will stay the same, there will be no more upfront costs and they are eating the costs with Toyota because of their mistake. They currently have me at a residual of $27946 and they want to drop that to $22500 and my buyout at the end of the lease will be obviously dropped as well. I think they are lying and will be somehow benefiting from this. Every quote I got from other dealers( on other Tundra’s) was based on a 68% residual so I have a hard time believing all of these people had this wrong.
At this point I do not want to sign anything because I do not trust them. Even if my payment is the same and there are no more up front costs I still feel like something is wrong. Please keep in mind this was December 2 and they were using the November lease specials.
i HATE dealers. if any of you guys live in the southern california area you should go to norwalk toyota and ask for Kevin Tompkins in fleet. he gave me an AWESOME deal when i bought my DC. and i mean AWESOME. i too paid cash.
I just signed up for the 0% lease. The list on my DC LTD was $41.5k and the residual was 23k for a 3 year 36k mile lease (Nor Cal, Tier 1). So your residual seems very much inline. Its the best deal around (even better than paying cash, my $.02) but I can only give you one point of reference.
i HATE dealers. if any of you guys live in the southern california area you should go to norwalk toyota and ask for Kevin Tompkins in fleet. he gave me an AWESOME deal when i bought my DC. and i mean AWESOME. i too paid cash.
man I need to quit my job and go back to school...seems school pays extremely well (better than my fulltime job) if a 21yo student can pay cash (30K+) for a Tundra DC!!!
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I just signed up for the 0% lease. The list on my DC LTD was $41.5k and the residual was 23k for a 3 year 36k mile lease (Nor Cal, Tier 1). So your residual seems very much inline. Its the best deal around (even better than paying cash, my $.02) but I can only give you one point of reference.
Good luck,
Paul
Thanks for the info. Im not asking for specifics but is your payment inline with what mine is?
I guess when they tacked over $1000 to my price and asked me to sign a blank contract before I left makes me a bit uneasy about signing anything for them now.
Sounds like they did a spot delivery and did not complete all of your paperwork. Contact your local Attorney general and ask for their advice. If nothing else tell them if they do not honor the original agrrement you will bring back the truck and you want your trade back.
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This is actually in Chicago. They had the only Salsa Red DC with Navigation in the midwest and eastern states which is why i had to go 300 miles to get it.
Sounds like they did a spot delivery and did not complete all of your paperwork. Contact your local Attorney general and ask for their advice. If nothing else tell them if they do not honor the original agrrement you will bring back the truck and you want your trade back.
Good idea. They tell me my payment will be the same and they will not require any more money out of my pocket however my residual will be 5k less. However I do not trust this. They tell me that Toyota Finance is only making them pay $942 for the mistake. That seems like a small amount for a 5k screw up. I will have an attorney review all of this that is certain.
man I need to quit my job and go back to school...seems school pays extremely well (better than my fulltime job) if a 21yo student can pay cash (30K+) for a Tundra DC!!!
I was thinking the same thing. Also, he lives in Carson, CA, claims Carson Toyota as his dealer and is tooting the horn of Norwalk Toyota?!!? I don't mean to gang up on ya, just a little confused that's all.
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I just signed up for the 0% lease. The list on my DC LTD was $41.5k and the residual was 23k for a 3 year 36k mile lease (Nor Cal, Tier 1). So your residual seems very much inline. Its the best deal around (even better than paying cash, my $.02) but I can only give you one point of reference.
Good luck,
Paul
Why would anyone in their right mind lease a truck with a 500/mo payment?
I purchased my DC Tundra SR5 in October. The sticker was 33k and change. My residual is 21k and the lease is 270.00 a month for 36 months. Mileage limit is 36k, .20 per mile over 36k. Why is the residual so low on a Limited that lists for 40k new? I would have expected a little higher.
Why would anyone in their right mind lease a truck with a 500/mo payment?
Chris
Can you name another good vehicle you can purchase for 38k and have a 500/mth payment with 18,000 miles per year? When you find that vehicle you let me know. I'd love to hear your logic on this?
Would it have been better if were a car with a 500/mo payment?
I just got out of an Infiniti with a $600/mth payment.. I think with the options (Its a Loaded LTD) that I got on this truck I am doing quite well.
I purchased my DC Tundra SR5 in October. The sticker was 33k and change. My residual is 21k and the lease is 270.00 a month for 36 months. Mileage limit is 36k, .20 per mile over 36k. Why is the residual so low on a Limited that lists for 40k new? I would have expected a little higher.
RickC
I agree. right now they are figuring a 55% Residual. Initially it was a 68% residual. This is why I am confused.
Shady Dealer???
yeah, really shady
he gave me an AWESOME deal when i bought my DC. and i mean AWESOME. i too paid cash. 
I don't mean to gang up on ya, just a little confused that's all.
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