As I have explained to many of my own clients, so this is a rehash for some and new for others:
The "ad" is written with this verbiage:
Lessee is responsible for tax and license.
Meaning, the $15,400 from TFS/Toyota is not all 100% cap reduction. Depending on what city and county you're in, or even what state, a different percentage of that $15,400 + your $4000 contribution is eaten up in sales tax.
The ad is also written at MSRP, which is probably why I have sold so many... because I'm way way way way under that pricing!!
Using the ad numbers line item by line item, but replacing the selling pricing with mine, I am way less in monthly payments than the "ad" price when you use their terms. It's just that you have to figure the sales tax on the portion of the $15,400 that's cap reduction AND on the $3999 you are giving them. That's a lot of sales tax!!
As always, I have 45 of these here/coming and pretty much do all the stuff needed in advance for you, to make things easier.
I also know this car very well, as does my asst. so you're not getting keys thrown at ya and a wave when you leave. I do it all.
I have just leased myself one too!