Here Is Why You Should Never Lease a 2021 Toyota Supra

The long-awaited, second coming of the Toyota Supra was met with fanfare and a little confusion by the masses. On one hand, it’s great to see the nameplate make its way back into the market after over 20 years. But on the other, it’s a little weird that Toyota and BMW teamed up to create.

Regardless, the 2021 Toyota Supra is an exciting car to drive and you’ll more than likely get a lot of attention from onlookers. But if you want to feel like a celebrity every day and own a Supra, then Ari Janessian – CEO of Boston Automotive Consulting – urges prospective buyers to never lease the Supra, just buy it.

There are more Toyota Supras for sale than Avalons

If you’re looking to get your very own 2021 Toyota Supra, then the good news is that there are more of them in dealer inventories nationwide than there are Avalons. Even better, Janessian says that there are many Supras even being listed below MSRP, as opposed to way above it, like other rare supercars.

There are currently 345 Supra 2.0 models and 770 Supra 3.0 models on dealership lots nationwide. Out of that total inventory, there are currently 400 3.0 Premium models for sale, which is the highest trim Supra you can get. Since there are plenty of those models to go around, you’re more likely to get a better deal at your local dealership.

2021-Toyota-Supra-Family
2021 Toyota Supra Family | Toyota

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Leasing a Toyota Supra is tempting but it doesn’t make sense

Janessian’s lease deal example for one of those breaks down like this:

2021 Toyota Supra 3.0 Premium
MSRP: $56,825
Target: $51,805
Rebate: $0
Residual: 59%
Money Factor: .00218
Due at Signing: $2,010
Payment: $693/month plus tax

Just to explain these numbers, the MSRP for the 2021 Supra 3.0 Premium is $56,825, but Janessian says that you’ll want to target a selling price of $51,805 in your negotiations. There are currently no rebates for lease customers through Toyota and the current standard lease rate is a really high .00218, which is equivalent to a 5.2% interest rate.

If you were put roughly $2,010 as a down payment (first month’s payment, tax, title, and registration), then you’ll be looking at a lease payment of around $693 per month, plus tax.  

While that lease payment might not look so bad, considering you’re leasing a $50,000 sports car, Janessian says that the monthly finance charge is $186. That means you would be paying nearly $200 of interest just to lease the car and not even own it by the time you’re done making payments.

“By leasing this (Supra), not only are you overpaying not just in additional fees, but in extra interest per month. Let me tell you, don’t lease it, buy it.”

– Ari Janessian

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Financing a Supra makes more sense

If you were to go the opposite route and finance the car instead, then you’ll pay more monthly. However, the payments that you’ll be making will be going toward the actual ownership of the car as opposed to extras fees or interest.

Here is what Janessian’s financing breakdown looks like:

2021 Toyota Supra 3.0 Premium
MSRP: $56,825
Target: $51,805
Rebate: $1,500
APR (60 months): 1.9%
Final Price: $50,305
Payment: $903/month plus tax

We’re looking at the same MSRP and target selling price of $51,805. However, Toyota is currently offering a rebate of $1,500 when you finance a Supra or a special interest rate of 1.9%.

If you were to take the rebate offer, which would give you a final selling price of $50,305, then you’re looking at a proposed monthly payment of $903 plus tax (if you obtained a low-interest loan). Again, it’s a hefty sum to pay over the lease payment, but at least your money will be better spent in the long run.

2021 Toyota Supra 2.0
2021 Toyota Supra A91 in blue | Toyota

RELATED: Driving the 2021 Toyota Supra 2.0 Makes You Feel Like a Celebrity

Your fees and savings may vary

While we can see why financing a 2021 Toyota Supra is better than leasing, please note that the financing and lease numbers mentioned can vary depending on your local taxes and rebates. While the rebates that Janessian mentioned are nationwide deals, your local Toyota dealership might have a different pricing structure.

It’s important to use the values listed as a guideline for negotiations and not as an absolute truth as your dealer’s inventory and discounts can vary.