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Toyota Prius Lease Questions

Karen_CMKaren_CM Posts: 5,013
Post your next generation Prius leasing questions here.

Community Manager If you have any questions or concerns about the Forums, send me an email, karen@edmunds.com, or click on my screen name to send a personal message.

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Comments

  • lakemoreylakemorey Posts: 2
    Hello, do you know when the new Prius lease rates will be available?
  • jackomojackomo Posts: 11
    I received a lease quote for a new 2010 Prius Model II. It is a 3rd party with no money down (except license and taxes). They say you can leave the lease at any point after 6 months with no penalty.

    MSRP $22,750
    Payment $283
    Term: 60 months
    Residual: $11,830
    Money factor: 0.00265

    I would like to know from others if this is a good deal?
  • kac035kac035 Posts: 3
    May I ask at what dealership you got this deal?

    Thanks!

    Kara
  • greenliongreenlion Posts: 3
    This is the deal I was offered on a 2010 model 2 prius. No add ons, totally basic style.
    $1,375 out of pocket (includes 1st payment and license fees)
    36 months, 12,000 miles a year, $398 a month which includes tax.
    I live in Los Angeles.
    Can someone tell me if this is a good deal or I can most likely do better?
    Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lakemorey. Toyota has finally published a lease program for the 2010 Prius. Not surprisingly given the number of orders that it has for the car and its thin margins, Toyota is not currently providing any lease support on it.

    Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 Prius with 15,000 miles per year are .00265 and 67% for consumers who qualify for its top aka Tier 1+ credit tier.

    Keep in mind though that unlike most banks TFS places restrictions upon which options can be residualized, making it difficult for consumers to calculate the actual dollar residual values for individual units.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tarlis2tarlis2 Posts: 2
    It's a great deal
  • tarlis2tarlis2 Posts: 2
    not a good deal. the deal should be the same but your monthly payment should be $350 including tax and with mats included. Ceretos Toyota deals
  • greenliongreenlion Posts: 3
    Hi Tarlis,
    I got a little more info regarding the deal I was given for the lease,
    msrp at 22,938
    residual factor of 15,180
    money factor of .00265

    Where are they off? I was wondering how the pricing could get to $350 with tax.
    Thanks!!
  • osu18osu18 Posts: 17
    Car_man or anybody else out there, do you have any info the money factor and residual for 36k/36months on the 2010 Prius? I saw only info with the 15k miles a year. Thanks in advance. :)
  • bakkerjbakkerj Posts: 6
    I posted this deal in the prices paid forum, but it is actually a lease. So I thought I'd post here for your information.

    Sales price: $28,888
    MSRP: 30,020
    MF was 0.00265
    Payment worked out to $466 including tax. Without tax it was $423, or something. I live in alameda county, which I believe has the highest sales tax in the state at 9.75% or something.

    I don't have the residual in front of me, but I can get it for anyone interested.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi osu18. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 Prius with 12,000 miles per year are .00265 and 69%, respectively.

    Keep in mind though that TFS calculates vehicles' residual values differently than other banks. The residual value percentages that it publishes are for base vehicles. It places restrictions upon what options can be residualized. As a result, it is very difficult for consumers to calculate the actual dollar residual values for specific units.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Prius, bakkerj. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always helpful for other community members who are in the market for similar vehicles. If you haven't already and you have the time, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience.

    Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • aga3aga3 Posts: 2
    I would like to lease Prius 2 no options i am in chicago what should be my monthly
    payment including tax with $2500 down ?
  • kweikwei Posts: 1
    Hi bakkerj,
    We're actually in the process of leasing a Prius IV. I was wondering what your residual is as well as the adjusted cap cost (final price paid including fees and taxes).
    We have similar numbers to you but somehow our numbers are ending up around $570/month. We live in Chicago so our sales tax is higher (10.25%!) but we're just trying to figure out how people are getting their numbers down into the 400s.

    Also, did you put any money down?
    Thanks!!
  • ealexandealexand Posts: 1
    I'm trying to be conservative with my numbers so I'm not shocked when i get to the dealership. Does this look right for a 3y/36k lease?

    Prius III
    Price: $24,000
    Money Factor: .00265
    Residual: 65%

    $0 down - Pre-Tax: $326
    $2k down - pre-tax: $266

    If i got them to quote me with $2k down and offered to pay that monthly payment, but would only put $1k down do you think they would go for it?

    Thank you for the help

    Thank you for the help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ealexand. I assume that the $24,000 number that you mentioned is this car's selling price and not its MSRP. Is that correct? It would be much easier for me to give you my opinion on this deal if you provided us with both numbers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • hazzumhazzum Posts: 1
    Prius V
    Price $33048
    Money Factor .00265%
    Residual $16565
    $4000 down (Cap Cost Red) to reduce payment
    MSRP $33148
    48month Lease 15,000 miles
    $463.99 (Inc. $37.33 Tax 8.75%)

    Please tell me I did OK
  • wvgasguywvgasguy Posts: 1,405
    Prius V
    Price $33048
    Money Factor .00265%
    Residual $16565
    $4000 down (Cap Cost Red) to reduce payment
    MSRP $33148
    48month Lease 15,000 miles
    $463.99 (Inc. $37.33 Tax 8.75%)

    Please tell me I did OK


    I plan to pay it off early but my 6 year loan was $507/mo w/ no money down for a V w/ NAV +taxes (approx $31,500). After 48 months I'll owe $11,500 so if it is worth $16500 I would be able to build some equity as a down payment on a new car.
  • Car_man,

    Would you happen to know what the September residuals / money factor are for 36 month leases (12k and 15k/yr)?

    The past residuals seem awesome, but the MF is kinda high. Anyway to "buy it down" with multiple security deposits?
  • sas9sas9 Posts: 28
    I just leased a 2010 model 4, leather and nav.

    $1000 out of pocket and $402 month, 48 months.

    I paid $750 over invoice, $1435 off MSRP.

    I love it so far but I've only had it 3 days and I"m still getting used to everything. It's alot of car for me to learn and I know that once I settle in, I'm going to enjoy it.
  • Anyone know the current terms of the Prius II "special" lease in northern CA? Best I can get so far seems to be around 72% residual with .00265 MF and 650 acquisition fee for 12K/year.
  • shellzshellz Posts: 33
    That residual looks great. In DC, for a Prius 3-5, the best I'm seeing .00261 and a 66% residual for 3 years, 12,000 miles a year. And I just received an e-mail from Alexandria Toyota offering $100 above invoice (their initial offer was about $1100 over).
  • Hi wakked1. The money factor and residual value that you were quoted for this car look right to me. Despite the fact that Toyota is advertising a lease payment on the Prius in your area, this program is not actually special. I believe that its advertised Prius lease in CA is based upon TFS' standard lease program.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Wakked1...FYI.

    Just leased a 2010 Prius IV from Toyota of Santa Monica.

    Black with dark gray leather interior. Solar sunroof with navigation. Floor and cargo mats. Rear bumper applique. MSRP $31.499. Invoice $29,556. Agreed upon value: $28, 369.12. Gross capitalized cost: $29,239.12 (agreed upon plus $650 acquisition fee and $220 for tinting windows, which they threw-in for free at end). Residual value: $19,839. M.F.: .00265

    36 months, 12K miles per year. $2900 drive-off ($1896.01 cap cost reduction, $365.99 1st month, $395 title, reg, lic fees, $184.86 tax on cap cost reduction, $45 doc prep fee, $8.75 CA tire fee, $4.59 tax on doc fee). $365.99 per month (including tax).
  • Carman, My wife wanted a 2010 red Prius V with Nav. Had a hard time finding one and had to wait for one to be rerouted from another dealer and it came in last week with carmats. The MSRP was $31,329.00 and the Invoice was $29, 817. The dealer agreed to sell it to us for $29,467 but had to pay a dealer fee of $699.50. I decided to lease the car for 36 months, 12,000 miles per year. I paid $1701 down to cover Cap. cost reduction-$178.70, 1st mo. payment - $519.58, Dealer fee-$699.50 and Title and registration,waste etc,-$303.22. The agreed upon value was $29467 but the Gross cap cost was $30362 -explained as a $895.00 acquisition fee for Southeast Toyota Finance. I thought this a bit high but they told me that was what it was. The cap cost reduction was $178.70 for an adjusted cap cost of $430183.30. The residual value is $17690 0 depreciation 412493.30 and a outrageous rent charge of $5153,82, Total Base mo payments - $17646.12. The monthly payment is $519.58 about $30 more a month than they quoted me in Dec. Did I get screwed? I feel Like I did but my wife wanted the car bad so I got it for her. Carman please advise
  • mtenamtena Posts: 58
    The California offer sounds similar to the one advertised here in Washington state:

    2010 Toyota Prius Lease (Model #1223)
    $279 per month plus tax for 36 months
    $1,995 due at signing lease

    Not sure which equipment codes these are for, as I've just started into the possibility of leasing.
  • eburnseburns Posts: 9
    CarMan, (or anyone else with data)
    If you could, would you please share the residual and MF for a 2010 Prius IV at 12k/36 here in the Southeast? I've seen numbers all over the place on various forums. Thanks for the help!

    Eric
  • eburnseburns Posts: 9
    Pantherman12 - I know it's a moot point now, but I just leased a Prius in the Southeast as well. The acquisition fee was $695 as quoted by several different dealers, and your dealer fee is probably the highest I've ever seen. That said, I can empathize with the challenge of dealing with your wife's dream car... mine just had to have a red package IV :) .
  • roho1roho1 Posts: 317
    Just came from a SET Toyota dealer the other day and the acquisition fee was $995.
    The day before the sales stoppage.

    I just stopped in to test drive a Prius but they also tried to use the old school boiler room sales tactics on me. They were more inerseted in selling me a Venza than Prius. Air head salesman comes out with MSRP offer, I say no he goes back to mgr and the offer comes back down a couple hundred, I say no and the mgr comes out and says what do I have to do to get your business, etc and on and on. Needless to say I walked out. I can't believe Toyota is still using this cave man style of sales. I'm going to use the internet for offers from now on.
  • I would like to know how much if any does the dealer get from the aquisition fee. If they get some of it they certaintly do not disclose it.
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