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Toyota Venza Lease Questions

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  • md_outbackmd_outback Posts: 185
    Hey CarMan,
    I know there haven't been any major incentives thus far for Toyota's Venza. Can you tell me the latest money factors and residuals for the following:

    2009 Toyota Venza V6-AWD, with Prem. Pkg #2, Navigation System, Panoramic Roof and Mats. Total MSRP is about $38,400. Looking to lease for 36 months @ 12k miles per year. Do they have a standard 39 month lease package?

    Thanks for your help.

    MD
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey MD. The Venza isn't a bad vehicle...it just seems sort of expensive to me for what it is. Plus, while Toyota has some of the most aggressive lease money factors that I have ever seen it offer on many other models right now once again it has not lease support on the Venza this month.

    According to the latest information that I have seen, if you were to lease a 2009 Toyota Venza V6 AWD through Toyota Financial Services right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00285 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Keep in mind though that TFS places restrictions upon the options that can be residualized. As a result, it is difficult for consumers to calculate the actual dollar residual values that are needed to arrive at a monthly lease payment on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • md_outbackmd_outback Posts: 185
    Hey CarMan,
    Thanks for the info. The Toyota finance guy was giving me a really crazy high money factor of .00395 and a low 51% residual for 36 mos/36k miles. The good news is that I got more than $4600 off MSRP so I bought it. As far as being a bit expensive, I guess it's all relative. But for $34K fully loaded, it's a much better deal than a Lexus RX, Audi Q5, Volvo XC60, Infiniti FX35 and Nissan Murano LE. It's quicker than all except the FX, has more cargo room than all but the RX. Lower priced competition I also considered are Subaru Outback and Forester, Toyota RAV4, Mazda CX7 and Ford Edge. All good vehicles, but I came away thinking they were all "cheaper" feeling and less refined than the Venza. Bottom line was that the Venza was the best overall package for my needs.

    MD
  • gmsmithgmsmith Posts: 5
    Anyone know what the June lease numbers are looking like for the Venza? Specifically I am looking for MF and Residual for the AWD 6cyl version for both 12 and 15k miles.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello gmsmith. Toyota is not currently providing any lease support on the Venza. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. TFS' current buy rate standard lease money factor is .00265 for consumers who qualify for its top aka "Tier 1+" credit tier. TFS' 36 month residual value for an '09 Venza AWD is 61%. Its residual value for a lease with only 12,000 miles per year is 2% higher.

    Keep in mind that TFS places restrictions upon what options can be residualized. This makes it difficult for consumers to calculate what the actual dollar residual values are for specific units on their own. Calculating vehicles' residual values is so complicated that TFS provides dealers with a list of the dollar residual values for the specific vehicles that they have in stock rather than relying upon them to calculate them on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Carman,

    August numbers for both I-4 & V-6 AWD please. I'm trying to compare payments to decide which engine to go with.

    Also, do you know when the 2010 models are coming out? I would think in the next month or so...

    thanks
    Eric
  • I tried to make a deal for a base Venza for 24000 in NY, dealer said " NO WAY!! and until October when the 2010 Venza will be in the dealerships don't bother coming back"...I saw the lease special that Toyota has for Venza for 269/MO I don't know if I should go for it...should I buy or should I lease?
  • I went to a couple of Toyota dealers asking for lease quotes on Venza V6 AWD with Comfort Package (includes Smart Key system, JBL premium audio, leather seating, backup camera and tow prep package). MSRP on this car is 34,840. I am willing to put $3,500 total out of pocket. The quotes I got were in the low to mid 400s for 36m lease and 12k miles per year.
    Can someone please tell me whether the quotes I got are reasonable? Thank you.
  • My calculation is 448 a month based on residual of 60% and money factor of .00265. Purchase price would be 32K. this is with no money down, not including sales tax. you'd still have to pay start costs. hope helpful
  • Thank you- very helpful.
  • Reasonable? You could get a Ford Edge Limited AWD MSRP $38,000 for $315 a month with that kind of cash down. Toyota once again has terrible lease rates. Ford has 0.25% on the Edge. Divide that by 2400 to figure the money factor. Probably figures out to about $5 to $10 a month on rent charge vs Toyota's $90 to $100 plus.

    But I know, some people are anti-American no matter what the cost benefit is.
  • I didn't realize that Ford offers leases. For some reason I thought their cars are not being leased. Or maybe I confused them with GM. Thanks.
  • drl_2drl_2 Posts: 4
    Anti-American, huh? The Edge is manufactured in Canada. The VENZA is manufactured in Kentucky.
  • If you have an iPhone or iPod Touch you can get an app for $2.99 (yep 3 dolars) that will do all of this math for you and more. It does reverse leases that will figure money factors, etc.

    I used it recently to do the car loan math on a new Toyota Yaris and it was accurate to the penny with the dealer.

    Even if you don't have the iphone, you can buy an iPod touch at an Apple Store or online for $199. I think most of us would save that on the next car deal we do.
  • Yes. I purchased this app for my touch and it is accurate. But, the toyota web site gives you the same numbers.
  • What does where the car is manufactured have to do with anything? Are you saying that it is okay for a Japanese car maker to manufacture their cars somewhere else but it isn't okay for an American car company to manufacture their cars in Canada? Brainwashed much?

    By the way, I had originally meant some people are just plain against buying American cars. I didn't mean anti-American cars as in "against America." Anyway, staying on YOUR point, every time someone buys an American car, regardless of where it is manufactured, they are giving their money to an American company. I wouldn't expect someone brainwashed AGAINST buying an American brand to be able to figure out the all the many benefits of that so I won't get into it but needless to say it's a good thing.
  • My dealer here in California just told me Toyota just announced a money factor of .0020 for a Venza lease. This with the high Residual makes this deal quite compelling. This offer expires 11/30/09. May be time to trade the CRV!
  • Just wondering what the CURRENT Money Factor & Residuals were for the Venza in V6 & 4cyl FWD models for 36mo/12,000 miles a year.
    Anyone out there working on a LEASE deal?
    Any numbers to share?
    Need HELP!
    Thanks in advance.
  • Hi lasvegasrph. Toyota's lease program varies by region. You never mentioned what state you are in, so it is difficult for me to give you an idea of what this vehicle's current program is like. Let me know what state you are in and I'll see if I can find out what Toyota's lease program is for this model in your area for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Oooops. Sorry. Las Vegas, Nevada.
    Mainly focusing on the FWD (2wd) models. 4cyl & 6cyl. 10k/12k miles a year.
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