Supra lease deal in Northeast

Supra60

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Looking at Toyota incentives this month (Feb. 2020) in the Northeast and noticed Toyota is now offering a 589 dollar a month lease on a premium model Supra. This is with 5000 down which includes first month payment. Lease is 10 K per year. Looks like maybe Toyota wants to sell more Supra’s. Maybe zero percent financing will be next! What do you think?
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angrytoddler

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That doesn't surprise me... Sales must really slow down in this region one winter hits.

I bought mine in August for MSRP. I have no regrets as I have enjoyed the car since purchased.... But it would have been nice to get zero percent!
 

XtremeMaC

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wow, that's a total of ~$26K for 3 years if 0 interest. For those who won't modify it, that's a good value ~50% of msrp...
 

alex2364

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$589/month with $5000 down equals $727/month with $0 down. Terrible deal for a ~$55k car.
 

XtremeMaC

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not just any car though :)
for a car that sells ~500 pcs/month that's not too bad. If they lower it, it'd put a bad name to it..

Here is Ford Expedition for you @ 57K

upload_2020-1-8_14-29-54.png
 
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Supra60

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$589/month with $5000 down equals $727/month with $0 down. Terrible deal for a ~$55k car.
Thanks Alex! I was thinking not too bad of a deal till you put it that way. Now if they could eat that 5000 down and still do 589 a month. Yeah right!
 

Famo

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Why would you ever lease a supra lol? Such a waste of money. Just buy the car! It's a dream car honestly!
 
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Supra60

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Why would you ever lease a supra lol? Such a waste of money. Just buy the car! It's a dream car honestly!
Well two reasons. One the payment is less a month, and second reason it would be like a three year test drive. If the car proves reliable and you really like it, then buy at the end of the lease. Or maybe after the three year lease is up there is a faster model with manual transmission available to lease or buy.
 

Famo

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Well two reasons. One the payment is less a month, and second reason it would be like a three year test drive. If the car proves reliable and you really like it, then buy at the end of the lease. Or maybe after the three year lease is up there is a faster model with manual transmission available to lease or buy.
I mean I get all of that, but usually leasing a sports car or any car that's highly desirable is never a good investment because they charge almost the price of the car in 3 years. It's usually better to buy the car and sell it in 2-3 years then leasing tbh.
 
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Supra60

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I mean I get all of that, but usually leasing a sports car or any car that's highly desirable is never a good investment because they charge almost the price of the car in 3 years. It's usually better to buy the car and sell it in 2-3 years then leasing tbh.
Yeah I understand what you are saying about buying which is what I normally do but let's face it buying or leasing a car is no investment. It is a depreciating asset from day one, and only in rare cases does it appreciate. So should we buy only used vehicles? Financially you would be better off, but I love that new car smell and the fact no one else drove it. So to each his own I guess. Some people may not to able to swing the pAyment to own but could do the lease payment.
 

Famo

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Yeah I understand what you are saying about buying which is what I normally do but let's face it buying or leasing a car is no investment. It is a depreciating asset from day one, and only in rare cases does it appreciate. So should we buy only used vehicles? Financially you would be better off, but I love that new car smell and the fact no one else drove it. So to each his own I guess. Some people may not to able to swing the pAyment to own but could do the lease payment.
I mean again I get all of that, but most of the time the payment to lease is usually higher than to finance and even then with most high end cars you end up paying 70% of the car's worth in 3 years. A car like the supra is a horrible lease as well seeing the lowest you'd probably see it would be 700-800 a month do the math and you're paying more than 60% of the car's worth over the 3 years. Just isn't a good car to lease period lol.
 

XtremeMaC

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In addition to my Ford example above, I'll provide few other examples for similarly priced cars for same terms..

I can't find a good lease option for a car that costs ~$60K
Supra is actually the cheapest...

upload_2020-1-10_10-8-34.png



upload_2020-1-10_9-54-58.png

upload_2020-1-10_9-57-27.png

upload_2020-1-10_10-4-57.png

upload_2020-1-10_10-0-15.png
 
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Supra60

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In addition to my Ford example above, I'll provide few other examples for similarly priced cars for same terms..

I can't find a good lease option for a car that costs ~$60K
Supra is actually the cheapest...

upload_2020-1-10_10-8-34.png



upload_2020-1-10_9-54-58.png

upload_2020-1-10_9-57-27.png

upload_2020-1-10_10-4-57.png

upload_2020-1-10_10-0-15.png
So based on this Information if you were going to lease for whatever reason the Supra lease is pretty good for that price. I think I will check with my buddy who is a Toyota salesman and see how flexible is this lease as far as money down, payment etc. Can you get the same or close payment with less down payment? Are there any other hidden charges?
 

XtremeMaC

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you don't have to put money down. I think putting money down on lease makes sense only if you want to lower your monthly payments. I vaguely remember a Ford salesman talking about some brackets, but I'm not the expert...
The only thing I know that affects this price is your credit score. So, it may say $500, if your score is low, price will go up.
There are no hidden charges, maybe things like plate fee, etc. and I've seen dealers try to sell maintenance packages, but man don't even read any of my message if you have a salesman buddy.
Also, I'm not a lease expert or anything. Per your post, I got curious and looked at few similarly priced cars, which volume-wise sell more than Supra...
 
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Supra60

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you don't have to put money down. I think putting money down on lease makes sense only if you want to lower your monthly payments. I vaguely remember a Ford salesman talking about some brackets, but I'm not the expert...
The only thing I know that affects this price is your credit score. So, it may say $500, if your score is low, price will go up.
There are no hidden charges, maybe things like plate fee, etc. and I've seen dealers try to sell maintenance packages, but man don't even read any of my message if you have a salesman buddy.
Also, I'm not a lease expert or anything. Per your post, I got curious and looked at few similarly priced cars, which volume-wise sell more than Supra...
OK, for those interested in the difference between leasing and buying I talked with my buddy today who sells Toyota"s for a living and got the run down. First, the 589 a month lease payment is based on the MSRP in this case 56,140 dollars. To get that monthly payment you need to put down 4999 dollars plus 650 acquisition fee and any dealer fees (in his case they charge 150 ) so a total of 5799. You also have to add your local taxes if any. In our case living in NY we are charged 8 percent on everything including cars. So adding (ballpark) about 58 dollars more to your lease payment brings the total to 647 a month roughly for 36 months. Then the buyout would be 33684 at the end of the lease. On the flip side you could buy the same car at MSRP, add in the tax and fees and put down the same 5799 dollars and end up with a monthly payment of about 980 a month for 60 months or 1595 a month for 36 months ( using 2.70 percent which is what our local credit union is changing). So when you look at the numbers it costs more to lease and then buy the car but you can drive for three years before you need to decide. Buying out right saves you some money in the long run but you have higher payments. So depends on what you want. My buddy said he leases lots of cars and trucks to people who like the lower payments and want something different every three years. So there you have it, buy or lease doesn't matter just get yourself a Supra now! By the way my buddy said if anyone is interested in buying or leasing a Supra he can do it for less then MSRP. Anyone interested, please PM me.
 
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