You may want to think twice about leasing this model.
While it may have less power than the Supra (205 hp vs 335 hp), the 86 is still a lot of fun to drive thanks to its rear-wheel-drive setup and punchy 2.0-liter flat-four engine. Toyota is also confident the next-generation 86 will be even better than the Supra. But while the entry-level 86 is designed to offer driving thrills for an affordable price, CarsDirect has found that this month's lease prices for the Japanese sports car offer terrible value for money.
For example, in the San Francisco Bay Area Toyota is advertising a featured lease deal for $489 for 36 months with $3,499 due at signing. This gives you a base trim with automatic transmission and an allowance of 12,000 miles per year. Like all Toyotas, it also comes with two years of free routine maintenance.
Effectively, you're paying $586 per month before taxes and fees, which CarsDirect considers as the worst lease for any car based on an analysis of over 370 leases for the month of November spanning 29 brands. At $586 per month, the 86 is $126 more expensive to lease per month than a 2020 Subaru BRZ Premium ($460). It's also $110 a month more than a 2020 Jaguar XE S P250 ($476 based on an MSRP of $40,895) and $46 per month more than a 2020 BMW 330i ($540 after a $1,000 conquest bonus for switching brands).
Why is the Toyota 86 so expensive to lease right now? According to a dealer incentive bulletin, the offer is based on a money factor equivalent to 4.7% APR. There are also no lease cash incentives to reduce the price and the 86 also has poor residual value, resulting in a lease that offers poor value for money.
Ironically, the Toyota 86 is cheaper to buy at some dealers as Toyota is offering some tempting discounts. In Southern California, for example, Toyota is offering a $3,500 rebate on all 86 trims plus a $2,000 bonus for TRD SE trim. Compared to leasing, that's a saving of $5,500.