Technically this is a Lease Discussion, so mods feel free to move it if needed.
So I went to a Toyota Dealership to see about leasing a 2021 Corolla Hatchback.
I stuck to my guns from what I read on this forum and said the lease has to be NMD.
He says what about TTL, you want that incorporated into the lease too, I said no, I'll pay for that up front.
He comes back with a quote, and he shows me the TTL for a $28K vehicle is $2800! I was like "what???"
I mean, it's been several years since I leased a car, maybe 10 or so, but even still, the TTL was always around $1000 give or take.
Does that sound right? $2800, almost $2900 TTL? Seems a little ridiculous to me.
@Wavester64, based upon the information you've provided, there is no way for any of us to offer an opinion. Why? TTL varies by state, and often by county or even city. Thinking about it though, if you live in a high tax state as well as a state which charges tax on the entire cost of the leased vehicle (some states only tax the depreciation portion of the lease), and then you add dealership fees for Title and License, and yes, I can easily see the TTL portion amounting to 10% of the price of the new vehicle.
In Georgia the tax on a vehicle is 7%. Now with a trade in, you can lower this tax amount, but that is what it is. I do believe they changed it with leases where you only pay the tax on the portion of the car you are using. Not sure about that part.
TTL has always been about 10% of the car for most everyone.
@Brian_Earl_Spilner wrote:TTL has always been about 10% of the car for most everyone.
Like I wrote before, it depends upon where you live. In New Jersey I leased a $48,000 BMW and TTL came out to only about $1,200, in Illiniois that same TTL figure would have been more like $3,800, here in New Hampshire it was $700.
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:TTL has always been about 10% of the car for most everyone.
Like I wrote before, it depends upon where you live. In New Jersey I leased a $48,000 BMW and TTL came out to only about $1,200, in Illiniois that same TTL figure would have been more like $3,800, here in New Hampshire it was $700.
Ok? "Most" doesn't mean everyone, but it's pretty standard based on what I've seen working for Chase and HSBC Auto.
@Brian_Earl_Spilner wrote:
@Horseshoez wrote:
@Brian_Earl_Spilner wrote:TTL has always been about 10% of the car for most everyone.
Like I wrote before, it depends upon where you live. In New Jersey I leased a $48,000 BMW and TTL came out to only about $1,200, in Illiniois that same TTL figure would have been more like $3,800, here in New Hampshire it was $700.
Ok? "Most" doesn't mean everyone, but it's pretty standard based on what I've seen working for Chase and HSBC Auto.
The point we're trying to make is there is nothing even remotely standard about what is an appropriate TTL charge; it varies (often dramatically) by location. As for Chase and HSBC Auto, what do they have to do with this discussion?
