Lease Negotiation - 2022 Tundra - Any options

Curious if anyone has any insight into potential options for lease buyout/residual negotiations due to the recalls efforts etc?

Any way to negotiate down the residual due to the engine recall efforts?

 

You have no negotiation with the truck. Buy out price is what it is.
Might want to check and see what the value is currently on it. Compare that to your buyout price.
If the current value is more than the buyout price, there may be a little they can work on the new lease.

 

Your buyout in the lease agreement is what it is. The dealer you turn it in to might have a little room to wiggle, but not a lot. The leasing companies just end up sending lease turn ins to whatever part of the country is getting the highest selling prices. And given the motor issues, an issue that’s been a disaster for Tundra resale, and an issue that wasn’t factored in to the residual calculation 2-3 years ago, can’t imagine dealers (or lease holders) will want to keep these lease turn ins anyway. The leasing companies and TFS will be taking a substantial loss on the 2022 and 2023 turn ins for sure since resale is exponentially lower than it was for the 2.5 gen over the years.

 

I'm confused.
Why would you want to renegotiate the residual value?
Being in the lease protects you from a situation like you're worried about where the actual value of the truck at lease term is lower than the residual.
You just turn it in, walk away and wipe your hands clean.

 

I took it as he thinks it should be less, given the current recall. Not sure why he’d want that unless he’s looking to buy it out

 

Right but that's the strange part. If the bank reduces the residual value that means the you as the leaser would pay for more of the depreciation.
If you've managed to get into a situation where you're paying for less depreciation than actual you are on the winning side of the equation.

 

Last tundra lease I saw was a 22 limited. Residual was 46 and the market value was 40.

 

this was one reason GM got in trouble in the early to mid 2000’s. Tens of thousands of leases turned in worth less than the residual value. Not good from a business perspective

 

I guess you’d have to turn it in and buy it back off the lot, likely after it sat for a few months.

 

Advertising 7-10k off MSRP and like 1.9% on purchases. They had really strong lease deals in the beginning, not so much anymore.

 

I have been able to negotiate price on every lease I have had with Toyota regardless of residual…they do not want the vehicle back.

 

We were nearing the end of the lease a few months ago on the wife’s Outback. One of the options we had was to sell it back to the dealership. We went that route and got a $2100 check back from the dealership 2 weeks later.

 

Yeah - my intent was to see if it was possible to lower the residual so that I could buy the truck with a smaller loan - I actually love my truck!

 

How much time left on your lease?
If you were successful in lowering it your remaining payments would likely have to sky-rocket. Easier to (as mentioned above) just make an offer at lease end or turn it in and buy it back at the discount.

 

I have leased 4Runner Tacoma and tundras and all have yielded 10k more on trade than the buyout amount. Makes next lease/finance payment much lower.