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Toyota Prius Lease Questions

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  • dwynnedwynne Posts: 4,018
    Anyone know the lease numbers for the Prius V two or three? 36 month lease, 15k miles per year. My wife has a Prius III and loves it, but would like the larger car she thinks.

    No lease specials are shown on the online sources so I am guessing the "Standard lease rates" apply which equals "bad deal".

    Thanks
  • Hi cmyawn. In most of the areas that I have seen Toyota's programs for...and there's a lot of them, 12 different regions...Toyota is not currently providing any lease support on the 2012 Prius.

    If that is indeed the case in your area and you were to lease one through Toyota Financial Services right now, you would have to use its standard lease money factor. The last time that I checked, TFS' buy rate standard lease money factor was .00200 for Tier 1+ customers.

    As far as the residual value goes, TFS' published 36-month, 12,000 mile per year residual value for the 2012 Prius IV is 63%. Having said that, TFS calculates vehicles residual values differently than most other banks do. It places restrictions and caps on the options that can be reisualized. This not only makes its real-world residual values lower than its published base model percentages initially appear, but it makes it very difficult for individual consumers to work up lease payments on their own.

    I don't believe that Toyota is currently providing any cash incentives on leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey dwynne. While as you suspected Toyota is not currently providing any lease support on the Prius, its standard lease program isn't too bad. TFS' current buy rate standard lease money factor is .00200 for consumers who qualify for its Tier 1+ credit tier. That's equivalent to an interest rate of around 4.8%. While in today's low rate environment that's certainly nothing to write home about, historically speaking it's not too bad.

    TFS' current 36-month, 15,000 mile per year residual value for the 2012 Prius V is 58%, but please see my previous post as to why this number is misleading.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • dwynnedwynne Posts: 4,018
    Do the TFS money factors and residuals vary by region?

    I am in the Cincy region and the dealer says 0.00220 is the rate. Could be dealer markup (rare in a Toyota) or different region? Your rate would save about $10 a month on the payment, tax included - so not a deal breaker. The rate in any case is not good.

    From the actual invoice of a V three it works out to 58.7% of MSRP including the two (inexpensive) options. On the invoice of V two with more options it works out to 57.9%. Options are not something you want if leasing from TFS :)

    My wife's current III is leased at 0.00075 (1.8%) and 63.5% - a much better deal.

    Thanks
  • first lease, 2011 Prius II, I would like to install mudflaps but not having leased before I am not sure what the implications would be at lease end. I have emailed customer service but it goes in a loop of check with, check with, check with, no definitive answer. I would appreciate any info from someone who has ended a lease with non factory/dealer accessories installed. I would expect to leave the flaps on at lease end.

    thanks
  • kyfdxkyfdx Posts: 28,011
    If it's a Toyota accessory that is commonly added (like mudflaps), then there will be no issues at lease end..

    Big wing spoiler, curb feelers or padded vinyl roof? Then, you might have a problem.. ;)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • thanks for the reply, the part that seems to be causing the conflict is that mudflaps are not on the Toyota accessory list. The parts would have to be aftermarket, so that may be what is causing the uncertanity. It may be wiser to go without and use the $200 to repair any chips before the vehicle is returned. With all the "customer support contacts, videos, and contact numbers" provided by the mfg it should not be quite this difficult to receive a definitive answer.
  • Hey dwynne. Toyota's lease program does indeed often vary by region. Toyota Financial Services' current buy rate for the 2012 Prius in its Cincinnati region is .00117 for consumers who qualify for its Tier 1+ credit tier. You can actually see this for yourself and show it to the dealer by looking at the fine print of Toyota's official advertised lease payment for this car in your area. Here's a link:

    http://www.buyatoyota.com/Specials/SpecialOffersDetails.aspx?series=prius3rdgen

    Just click on the lease offer and look at the fine print. It's right in there.

    The dealers definitely look like they are trying to mark the money factor up on you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car Man,

    I saw an incentive Lease on the Toyota site for 2011's but nothing currently for 2012's in my area (Oregon).

    Looks like current incentives go through 03/05 so I am assuming updates on 03/06.

    Any insight as to any new lease factors on the 2012's? I got quotes from 3 different dealerships but all were very high payments (like $300 per month with $2500 down), even though prices were pretty good - about $1000 off MSRP.
  • dwynnedwynne Posts: 4,018
    Anyone have their TFS Prius lease handy? What is the minimum tread depth on a lease return?

    Thanks
  • zoranzoran Posts: 68
    If any one interested pm me.
    Thanks
  • jbp7jbp7 Posts: 1
    Hello All,

    I'm looking to lease the above, my first leased vehicle and have shopped around 3 dealerships in LA area.
    Santa Monica are offering me this on 12k miles per annum.
    Driveoff $5,000
    $420.96 + tax = $457.79
    I feel this is pretty good but would really appreciate any expert information before I sign on the dotted line tomorrow ! I hear step two, the 'Finance chap' is the person to be wary of !? I am so tired of the 'battle' always believing that getting a new car ought be a pleasure ! I sincerely thank you in anticipation of any wise advice and support you may offer..JBP7
  • alsnook123alsnook123 Posts: 15
    I'm in North Carolina,,,,and was offered $369 includes tax, no money down, 39 month lease, 12k miles.... Carolinas sales tax rate is 3%.

    The lease has to make sense....if it does not you are better off purchasing the vehicle.
  • alsnook123alsnook123 Posts: 15
    $369 per month.....offered to me back in April..
  • bakkerjbakkerj Posts: 6
    Car Man et al.,

    In the market. Leasing a Plug In Advanced in the next few weeks.

    What money factor and residual is TFS providing?

    Is it ever worthwhile to find a bank to do a leasing transaction rather than using dealer financing?

    Thanks,

    John
  • Hi Car_Man.

    I can't find the money factor in the fine print. Perhaps they changed it since your last post. Can you tell me Toyota's current MF and depreciation (3 year lease) for a Prius package two? Tier-1 credit. Thank you.
  • gtgtcobragtgtcobra Posts: 259
    edited September 2012
    I just closed a Lease deal for a 3 year/60,000 mile lease on a new 2012 Prius 2 this evening.

    The MONEY FACTOR for the new 2012 Prius 2 is .00142

    The current lease on my 2010 Toyota Camry LE was coming to an end in 3 months on December 12th and I needed to turn in the vehicle because it already has an an 11,000 mile "overage" on it. When I initially leased it back in 2009, I negotiated the lease with 18,000 miles per year for 3 years with a total of 54,000 miles.

    I was able to lease the 2012 Prius 2 in Blizzard Pearl White for 3 years/60,000 miles. I wanted the 60,000 miles because I drive a lot and I put between 20,000 to 24,000 miles per year on my vehicle. I couldn't do otherwise on the mileage selection that I made.

    The dealership rolled in the last 4 payments of the lease which was a total of $624.04 and also rolled in the mileage overage charges which was a total of $1,647.90 into the new Prius 2 lease vehicle.

    I was ALSO able to get the Agreed Value Price for the Prius 2 for $24,033.36 which was around $1,240 LESS than the MSRP Price of around $25,273 which also included the destination charges in the MSRP.
    The dealer showed me their Dealer Invoice Price for the Prius 2 that I wanted and it was around $24,200.

    I put $4,000 down for the Prius 2 and my current payment is $404 per month which includes the Gap Insurance.

    The $4,000 that I put down includes the:
    1. Title & Registration Fees
    2. Capitalization Cost Reduction
    3. First Monthly Payment
    4. Tax on Capitalized Cost Reduction
    5. Administration Fee

    Is the 3 Year/60,000 mile Lease for $404 per month that I got on the new 2012 Prius 2 a good deal considering that I was upside down in my old lease vehicle???
    Did I get a good overall lease deal or did I overpay for everything???
  • joepojoepo Posts: 10
    edited November 2012
    Hi Car_man,

    Can you please provide the Nov. money factor and residual value for 3 year/36k miles for 2012 and 2013 Prius II.

    Thanks much,
    Joe
  • Kirstie_HKirstie_H Posts: 10,850
    A reporter is looking for people who have shopped or bought either a Prius V or a Ford C-Max hybrid as an "alternative family car." If you'd like to share your experience, please send and e-mail to pr@edmunds.com by December 10, 2012.

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

  • steverstever YooperlandPosts: 40,181
    Bit of a follow-up request, thanks for relying!

    A reporter is looking for people who have shopped or own a Prius V If you'd like to share your experience, please send and e-mail to pr@edmunds.com by December 10, 2012.

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

  • warbernwarbern Posts: 26
    edited December 2012
    Would like to know December lease rates for a 2012 and 2013 Prius 3 and Prius 5 with 10k miles. Also is there a 24 month lease or just 36? I am in SoCal. Thanks!
  • berk6berk6 Posts: 3
    I am in the New York region. Looking at either prius or prius c for a 24month lease, 12k or 15k. Would be really helpful - we are moving to the burbs soon and need to get a new car!
  • We're looking at replacing our leased 2010 Prius III with a new 2013. Just got a quote from the dealer we bought from last time;

    Sticker: $26854
    Selling Price: $23854
    MF: 0.00145
    Residual: 61%
    Monthly: $282

    That's based on zero down (tax, title and license only), 36 months, 12,000 miles annually. Any thoughts? Anyone know if the MF and residual are accurate? From my calculations, these numbers should give a payment of $263, not $282, so I need to go back on that.
  • Based on your numbers your lease should be $249 per month tax not included. What state are you located in....Do you know the lease tax rate in your state?
  • Are you sure on that number? I've put the figures through 3 different lease calculators and they all spit out $265.95. It's 0% tax here. Thanks.
  • We resdie in Southern California and all of the dealers we've contacted all state that selling price of $23,854 is not possible based on MSRP of $26.854. By chance was the deal you received anywhere in Southern Califronia and could you shed some more light on the deal? Thank you.
  • Sorry. I'm in Oregon. The dealership is Toyota of Vancouver, in Vancouver, WA. If you search for their website on Google, you'll find the deal on the banner on the front page. Maybe you could use that to pressure your local guys to do better. My local dealer in Bend, OR offered to match it so it should be doable.
  • mortiennemortienne Posts: 30
    edited February 2013
    So we pulled the trigger on our new Prius this weekend. Ended up with a 2013 Prius 3 with the solar sunroof package and floor mats. The total sticker, including destination, was $28,354. We put down $1,245.53 to get the Toyota $1,000 match offer. This covered all the fees, DMV costs and 1st month's payment. We also used our $500 Toyota loyalty coupon. We had no trade, we just handed back our existing Prius and the dealer paid the last months payment.
    Our monthly lease payment ended up at $245.53 for 36 months / 36,000 miles. Overall, I'm pretty happy. We had an excellent buying experience and a good deal to go with it.
  • Missed the edit window! Forgot to say that we are in Oregon, so there's no sales tax involved.
  • Hi - wondering about March lease info/incentives for the Prius V. Any help would be much appreciated! Thanks.
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