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Toyota Prius Lease Questions

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Comments

  • evahnulahmevahnulahm Posts: 17
    I got mine in Greer, South Carolina...sorry but not very close :(
  • delta737hdelta737h Posts: 603
    edited July 2010
    evahnulahm,

    The dealer isn't going to multiply the MSRP by the residual factor (or some %) and then arbitrarily add 2,400 unless there is good reason to do so. It sounds as though it could be a mileage adjustment. For instance, if the residual factor corresponding to 15,000 miles annually for a 3 year lease is 54% and the MSRP is 30,000, then the residual is 16,200. Now suppose, instead of 15,000 miles annually, the customer desires only 10,000 miles annually. If the mileage cost adjustment is, say, $0.16 per mile, then the total credit is

    0.16 x 3 x 5,000 = 2,400.

    So now, the adjusted residual is 16,200 + 2,400 = 18,600.

    Although, this does seem a bit strange to adjust a 15,000 mile residual as baseline residuals are based on 10,000 or 12,000 miles annually. I know of no baseline residual that's based on 15,000 as that's no longer the standard and hasn't been for quite sometime. So, here's another possibility...

    It may be that residual adjustments were necessary due to additional installed options. However, the cost of the additional options or, more likely a percentage of the cost of the added options (e.g., 2,400), would have been added to the MSRP to produce the adjusted MSRP. The adjusted MSRP, in turn, is multiplied by the residual factor to obtain the residual value. Assuming the 10,000 miles residual factor is 57%, we have...

    57% x (30,000 + 2,400) = 18,468.00


    I think I covered all the bases and hope this is helpful.

    John
  • tjpriustjprius Posts: 5
    Thank you to previous post by mdmdmd on the Prius IV.
    I just made the same deal in Manhattan Beach. They agreed to the deal over the phone. The Gross Capitalized cost on my contract was $28,095.36. The agreed upon value was $27,445.36. The residual is $18,713. The window sticker was a little over $30,000. Don't ask me what it means, I'm just trying to give you the numbers. I paid $750 which represented the first month payment and registration ($383) acquistion fees $45 and some other little fees. My remaining payments are $293 for 35 months and this includes tax. I qualify for the Tier 1 financing.

    Oh, I got the winter grey prius as well.

    Elway Toyota in Manhattan Beach made the deal and they were terrific. They stood by their word that they gave me on the phone. Call and speak to the bmc manager. I just called their 800 number. I know we can't post names here or I would. I shopped the deal that mdmdmd posted and Manhattan Beach was the only one that would do it, and gladly. Great guys to work with (and free popcorn). Give these guys a call they are serious about moving cars.
  • Shucks! My coworker just got a new Prius IV + Navi from Manhattan Beach Toyota for an agreed price of $27130. Now I feel like I just got taken for a ride. In Buyer-remorse-dom right now.
  • Hello,
    I Leased a 2010 Prius II in the mettalic white color (adds $200) Is this a good deal for Virginia, or anywhere for that matter.

    Purchase price $22,350 (includes $200 color charge)
    No upfront fees other than first months payment of $259.
    36 month/36k miles $259/month
    Residual of $15,504

    I don't remember the money factor. Please let me know how I did!
  • mdmdmdmdmdmd Posts: 3
    Unfortunately I don't feel comfortable revealing that, but based on the other posts it sounds like going to Manhattan Beach may be the option. I didn't find the SM experience very good.
  • yellow578yellow578 Posts: 2
    edited July 2010
    Hi all... I'm in Southern California and the best deal I've received so far is:

    Prius III +navi + mats + Blizzard White

    MSRP = 27,090.00

    walkoff amount = 1678.00 mthly = 244 + tax

    plus the 2 yr maintenance program

    this is for a 3 year lease and 12k

    Is this a good deal? I need to buy by tomorrow end of month quotas u kno?! thanks all!
  • samramsamram Posts: 4
    Here is the offer I have been able to get (need to close tomorrow)
    Signoff amount 2500 (all inclusive and the first month payment included with tax etc)
    Monthly: 170 (inclusive of tax) for 35 months
    2 yr maintanance
    15k miles/year

    Havent been able to get the mats etc. What should I negotiate for?? Please advice..

    SAM
  • yeahdickeyyeahdickey Posts: 3
    edited July 2010
    In South Florida .... just picked up the car after very difficult negotiations with several dealers internet depts.

    Finally, ended up taking the best offer that no one else would match ..

    Prius III w/Navigation Package, Leather, Mats, and Toyoguard Plus Protection Group.

    MSRP $29,202.00
    Sales Price $25,661.00
    $0 down 36 months 15k miles/ year $325 (including tax)
    Sign and Drive Lease with only 1st payment out of pocket ($325).

    Picked up the car a few hours ago and they threw in a tint job for me.

    I feel this is pretty good for South Florida ... but you South Cali guys are getting amazing deals!
  • mac213mac213 Posts: 2
    Just picked up my new 2010 Prius IV with NAV package. I think I did very well on the pricing, just looking for confirmation.

    MSRP $30,030

    Negotiation started at $372p/mo - $333p/mo - to finally $319

    $0 down 36 months 15k miles/ year $319 (including tax)

    $800 Due at signing including 1st month, Reg and Doc fees

    My potential savings with this Prius is over $400 per month between the difference in payment from my trade and gas savings. 1st tank has averaged 52.3mpg mostly hwy with some traffic, my previous car was 16mpg.
  • Yellow578 - I am in SoCal and looking to lease a Prius - can you provide the name of the dealership/salesperson. Very much appreciated!

    I think the Toyota lease deals end today.
  • SAM - Where are you getting this deal? Sounds really good. I am looking to lease a Prius today. Can you give me the whole run down?

    Thanks!
  • rleighrleigh Posts: 1
    I've been negotiating for the past few days and took a chance by waiting to see what today's new incentives would be. The money factor got better and the residual is 16445 (-200). This is a III, black/dk grey, nav+sunroof package. Zero down, OTD of first month only ($332). 36 mos, 45K, 2 yrs maintenance. Sales price 26000. I see a better deal above but that's FLA and I'm in Boston. How does this sound?
  • A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalati@edmunds.com by Friday, August 6, 2010.
    Thanks,
    Chintan
    Corporate Communications
    Edmunds.com

    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.

  • sas9sas9 Posts: 28
    Hi all - I've had my 2010 Prius for 10 months and only drive in ECO mode - mostly for the best gas consumption. Can anyone tell me their experience with gas consumption between the two modes? Does the ECO mode really give better mileage versus POWER mode? Thanks,
  • tgr1978tgr1978 Posts: 2
    Hey everyone. Located on Long Island in NY. Went to a few different dealers online...my best deal for a IV (in blue, nav/roof, mats) is $379 total per month/36 months/15k miles. Down payment is 1st payment only and DMV fees.

    Sale price is $29,995
    Residual is $18,265

    How do you guys think I did? Looking to pull the trigger this weekend...went to 3 other dealers and no one was within $15 of the monthly price.
  • I got approved for a 36 Month Lease is this a good deal?

    $0 Money Down.

    Tier 1 Credit Approved.
  • mac213mac213 Posts: 2
    I think you could do much better unless things have changed substantially after Aug 2. I just bought an identical prius IV for 36mo/15k miles @ 319p/mo including tax, just 1st payment and DMV at signing plus 2yr 25k mile free maintenance. Details listed in my post above. If you notice, the negotiation started about where you are now, in the 370s.

    Also, those prices you got online might change when you actually get to the dealer, so check there first.

    I would choose a dealer that has a good service reputation since you'll bring it there for the free maintenance - oil changes, etc.
  • tgr1978tgr1978 Posts: 2
    Mac213:

    Where are you located? Is it possible the difference in price could be a regional thing? I can't imagine that, but wondering.

    My thinking too is that it was high, but the other 2 dealers I solicited where at the exact same number (which they are telling me is $250 above invoice).
  • sibra74sibra74 Posts: 7
    edited August 2010
    I'm located in the SF Bay Area and went with true, sign and drive, absolutley $0 down. P4 with solar, pmt is $349 a month inc tax and $400 for gap insurance during the lease. 36 months, 12k miles a year.

    Originally they wanted around $870 down and $321 (inc tax) a month, I opted for nothing down and the increase in pmt.
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