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Toyota Venza Lease Questions

Ask your Venza lease questions here!

Moderator - Prices Paid, Lease Questions, SUVs

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  • The Toyota web site now allows you to calculate the cost of a lease. So I did. I also priced out leases on Highlanders and did my homework. Right now, you can lease a 2009 RX-350 for $100 to $150 per month less than new similarly equipped Venza or Highlander lease. Wont ast long. The 2010 RX-350s are coming out in Feb or March 2009 and I think the dealers are liquidating their inventories for the new model year. I dont care what bells and whistles they put in the Venza. A 2009 RX-350 with all the bells and whistles compared to a loaded Venza is a no brainer. You can buy alot of gas for $150 a month.
  • Hey bjgcpa, don't go by the numbers cranked out by Toyota's and Lexus' online payment estimator (they even warn in the fine print that the numbers aren't accurate). These do not always use the latest residuals and money factors. Having said that, it is likely very true that the outgoing RX350 will have much more attractive lease terms than the brand new Venza, so if you like the current RX, now is the perfect time to buy or lease, especially if you aren't impressed by the 2010 RX. If you like the Venza, ask this forum to get the latest Toyota Financial money factors and residuals for a specific Venza (include all info such as I4 or V6, FWD or AWD and option packages, show final MSRP), based upon lease term in months and mileage allowance. Once armed with that data, negotiate your best price on the Venza (some dealers are already showing very good Internet pricing). Note: I tried the Toyota payment estimator for a loaded Venza and the result showed that Toyota is either expecting the Venza to depreciate very rapidly (50% residual in 3 yrs/36K miles) and/or they are using a highly inflated money rate equal to 8% to 9%. Personally, I think they are waiting to see if there is serious demand for the Venza. If so, they can keep the rates up. If not, they'll come down to reality pretty quickly.
  • I calculated the Venza lease assuming a 2,9% interest rate a residual value in the mid 50% range. Using the same lease length & miles, the 09 RX lease is about $125 per month less than the Venza. The RX is with the premium plus package. The 2010 RXs will be nicer but they will cost at least 10% more that the Rx's cost 4 months ago. I negotiated and signed the RX lease today. I an not waiting for the Venza. I have to beleive that the RX's will nicer than the loaded Venzas. The RX lease is $400 with $1000 down and a $3600 refundable security deposit
  • Enjoy your RX. I have an '07 RX350 and it's a great vehicle. Make it even better by replacing the stock tires (I had Michelin Energy) with Bridgestone Dueler Alenzas. You'll trade off a little in ride comfort for dramatically better handling. Oh, and it does just fine on regular gasoline too. Best of luck to you.
  • qs933qs933 Posts: 302
    Given that the 2009 RX is on the way out, it's not too surprising that there will be some excellent deals as dealers try to move as many units as possible before the 2010 model hits in a few months.

    I don't think you can go wrong with a good deal on an '09 RX. The RX is missing some features found in the Venza (and the 2010 RX) such as the Smart Key, but it does have things not found on any Toyota including a longer warranty, generally nicer interior materials (real wood, for example), and a premium dealership experience.
  • my3rdrxmy3rdrx Posts: 167
    I've already had three RXs (99, 01, 04), so I'm not interested in getting another one (and the 2010 doesn't look that much impressive either), but I'm very interested in the Venza. Could someone tell me what the monthly payment would be for a fully-loaded V6 (AWD, LX, NV & SR), 36-39 months, 10-12K/yr and no money down would run? Thanks.
  • The Toyata web site lets you calculate this. Based on some of the pricing I did on their web site, I wouldnt be surprised if it ran at least $600 per month. Do you really think it worth that?
  • Hey kyfdx, can you please provide current Toyota Financial Venza lease rates (money factor and residual)? I am looking at a loaded Venza, V6 AWD with Premium Package 2, Navigation and sun/moon roof. MSRP including freight is $37,955. Looking for lease rates on a 36 month/12,000 mile/per year term. I live in Maryland. Some folks are using Toyota's on-line payment estimator and I think it is kicking out some bad data. Thanks for your help.

    MD
  • RX2009: 5 speed, lower fuel economy, gen5 nav. (does this rear seat fold down?)

    Venz: 6 speed, gen6 nav.

    Does Toyota allow you to lower lease rate by putting down refundable security deposits? BMW does, and it seems Lexus does (from the above $3,800 mentioned).
  • A 3600 Refundable Security deposit? Never heard of such a thing. So, you had out of pocket of about 5K, 3600 of which will be refunded to you at lease end? Is this added to the residual? Better check your fine print.
  • Frankly, my wife currently owns an 06 RX 330 and I'm happier driving my CRV. I feel cramped in the RX, especially with the moonroof and the handling is a bit imprecise for me. So you may want to drive the Venza before you grab an RX lease.
  • The extra security deposit is typically referred to as "multiple" security deposits and yes, they are refundable at the end of the lease and should not impact residual. Each multiple will reduce your money factor a certain amount as allowed by the leasing company. For example, for each additional $500 you may reduce the money factor by .00007 or so (varies by leasing company and the actual amount of the lease). Often this makes more sense than putting down the same amount as a capital cost reduction because you reduce your monthly payment by reducing the finance charge and you get the money back. I know that Lexus allows this and they are the same finance company as Toyota Financial Services, so I'm guessing Toyota may also allow it.
  • Hi md_outback. I have not seen Toyota Financial Services' residual values for the new Venza yet. I'll have to look into getting those. I doubt that Toyota is providing any sort of lease support on it yet though. If this is indeed the case and you were to lease one through Toyota Financial Services, you would have to use its standard lease program. Its current buy rate standard lease money factor is .00295 for consumers who qualify for its Tier 1+ credit tier.

    Vehicles' money factors and selling prices are much more important numbers than the residual value anyhow. Dealers make their money on them. They are powerless to alter the resids.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car_man.

    MD
  • my3rdrxmy3rdrx Posts: 167
    I had just spoken with a salesman at Fitzmall.com and was told that a fully-loaded V6-AWD (LX, NV & SR), 36 months, 12K miles/yr, and no money down would run $656.75 per month, with the money factor at an incredibly high .000335!

    Obviously Toyota is not too worried about competition when a fully-loaded 09 VW Tiguan is currently leasing only for around $400 per month Sign Then Drive!
  • Hi everyone,

    Since Toyota has only built about 6500 Venzas, about 5 per dealer, and the fact that Georgetown is taking an extended holiday break, it would seem that incentives on the Venza may be little ways off. Also, since they launched it in December instead of January 2009, there will be a model year change later in 2009 ( before the current inventory is even close to one year old in actuality.

    Thank you for this and other message boards on Edmunds.
  • my3rdrxmy3rdrx Posts: 167
    I decided to pull the trigger on an 09 Mazda CX9 instead, since Toyota didn't even want to be bothered ~ With MSRP of $40,860 (which is $2K higher than the Venza), I was able to drive away with nothing down, TTL included, for 36 months, 12K/year, a monthly payment of only $551! It is the Grand Touring model with all the amenities and very similarly equipped as the Venza.

    BTW, I did go and look at the VW Tiguan and was very disappointed in everything about it!
  • Congratulations my3rdrx,

    I've heard and read great things about the CX-9. I hope your car to turns out to be a great one.

    CanStacker
  • I have enjoyed this discussion. The Dealers are certainly not "dealing" much on Venza to my way of thinking considering the current economic environment. I just finished a TL lease (a realy fine car- but I want more trunk space.)
    I am looking at a Venza (The Acura dealer has offered me a 36 month lease on 2009 TL, base model, for $90 less a month than on the Venza described below.)

    I am trying to evaluate the lease offer and wonder if it would pay to purchase a lease evaluation package. I have seen them on-line for $20 to $70. Are they worth the cost and effort?

    The Venza lease I am being quoted is with an adjusted cap cost of $32K, money factor of .00285, and 36 months lease payment of $649 for 6 cyl Venza with JBL SYNTHESIS SURROUND SOUND SYSTEM (EJ) and PREMIUM PKG #2 (LX)
    What is a good way to evaluate this offer other than just looking at the ajusted cap cost and the money factor? Or is that all I really need to consider?
    Thanks.
  • Hey gensherman, you should be able to evaluate a lease on your own when you are equipped with the right information. For your deal, you'll need more information, including: Full MSRP of the Venza, actual selling price (price as if you were paying cash), residual percentage (percent of MSRP you would pay for the vehicle at end of 36 month lease) and the money factor. Once you have that info, use any of several on-line lease calculators to determine your monthly lease cost. Armed with that information, go back to the dealer and renegotiate. I took a rough guess at MSRP and residual, but your figure of $649/month is way too high, even if your out of pocket costs are nothing more than first month's lease payment. The dealer is likely rolling in other costs such as taxes and acquisition fee (these are typical charges), and some unknown dealer "fees." Your best bet for getting a good lease deal is to negotiate your best purchase price (dealers here in the Wash DC area are offering Venzas for $3K to $4K below MSRP) and then understand every other charge that is going into the lease fee. And always shop around for the best deal, you can always bring the best offer back to your local dealer to see if they will match it. With Toyota Financial Services, the residual % and the money factor are pretty firm and the dealer has little control over these, thus the only thing they control is the purchase price. Good luck.
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