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Toyota Prius Lease Questions

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  • amoto13amoto13 Posts: 18
    Hi, I just contacted Tustin Toyota and spoke with internet salesman Paris. He said msrp $32,616 with $0 down, 36 month lease for $344.52 without tax ($371.22 including the tax) and residual is $16,960. The quote was with the $5000 rebate. Who did you get your deal from at Tustin Toyota? We are new to leasing. Thank you!
  • susanx1987susanx1987 Posts: 7
    edited October 2013
    Hi,

    I just got mine at Tustin Toyota from Daniel for $340 including tax at tustin toyota.
    36 month lease and $0 down
    residual is the same $16960 also includes the $5000 rebate!
  • amoto13amoto13 Posts: 18
    Hi!

    What dealership did you get the $275/month lease deal for a Prius Plug-in with $0 down?

    The best I could find is $314 / month before tax with $0 down. I've called DCH Toyota of Oxnard, Santa Monica, Tustin, Northridge, Carson and Santa Monica.

    Thanks!
  • amoto13amoto13 Posts: 18
    Hi!

    What dealership did you go to for this deal?

    Is the $1899 down the "drive-off" meaning title, license, fees, 1st month payment, etc.?

    Thanks!
  • amoto13amoto13 Posts: 18
    Hi!

    I just read Toyota's press release that the 2014 Prius Plug-in's will have a MSRP of $29,900 which is about $2,100 lower than the 2013's.

    Everything about the car is the same.

    Does it make sense to wait and buy that in November 2013 when they come out or do you think the 2013's will have bigger cash-back offers (than the $2k for buying & $5k for leasing being offered now) in order to compete with the 2014 MSRP?
  • With this deal they have right now, they will probably sell out before the 2014's even come, i would think it is probably better to get it now with more rebates
  • amoto13amoto13 Posts: 18
    2014 Toyota Prius Plug-In to Start Under $30,000

    Base Prius Plug-in model MSRP reduced by $2,010 to $29,990
    Prius Plug-in Advanced model MSRP reduced by $4,620 to $34,905

    http://pressroom.toyota.com/releases/2014+toyota+prius+plug+in+starts+under+30k.- htm
  • amoto13amoto13 Posts: 18
    Hello!

    One dealership just came back with a new offer.

    $267 / month + tax = $289 month

    0 down

    $1499 drive off

    36 month lease

    $16,690 residual

    12k miles / year

    White Pearl Blizzard color

    I think maybe the dealerships may be coming down in price as the month end comes and the 2014 Plug-in's are getting closer to being released.
  • if you have to pay a drive off, then its not worth it, you already have a $5000 lease cash, why put money down
  • amoto13amoto13 Posts: 18
    The drive off is for license and fees, forst month's lease payment, etc. not a "down payment" on the car. After speaking with several dealerships, there is no way around this (although the drive off is a little negotiable).

    After doing the math, you would have to get a very low monthly lease payment to make it a good deal.

    For example, the Truecar price of a Blizzard Pearl Standard Prius is $29,295 if you purchase. Minus the $2500 Federal Tax Credit and minus the $1500.00 CA State rebate making the car $25,295

    If I lease at $267 a month (not including tax) times 36 months, I'm paying $9,612 plus the residual of $16,690 making the price of the car $26,302 minus the CA State Rebate of $1500.00 making the FINAL price of the car $24,802 (which is not bad!)

    But with the 2014's coming out very soon, I'm hoping that the 2013's will have even steeper discounts as they have to get rid of those since the cost of the 2014 will be the same as the 2013 with all the current Toyota incentives. The 2014's have get the same tax credit / rebate as the 2013's.

    Right now, they've sold about 8,000 plug-ins for 2013 but their goal is 15,000 (from the research I have done). They have a way to go if it has taken them 10 months to sell 8,000....that means they have 2 1/2 months to sell 7,000

    Crossing my fingers that the 2013's come down more in price! =)
  • MichaellMichaell ColoradoPosts: 5,100
    One thing to keep in mind about model year changeovers is that the residual percentage of the old model year will be lower than that of the new model year.

    So while the transaction price may be lower for a '13 vs. the '14, the residual percentage difference may negate any savings.

    Just food for thought.

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  • amoto13amoto13 Posts: 18
    I agree and I'm very very fortunate in having the option to buy or lease.

    I'm looking at the final price of the car in either scenario (purchase or lease) including the tax rebate / credit in that final price.

    Here's to hoping for bigger discounts on the 2013's! =)
  • you can always get $0 drive off, getting a drive off from a dealer is just for them to lose less money, license fee is like $240 to $300, first month payment is $280, how would paying over $1000 for drive off make any sense
  • look at all the people getting plug-ins for under $300 with $0 down and $0 drive off
  • A lot of great info in this thread. I have to admit I am pretty new to this. I am looking at a silver 2013 Adv Plug-In. All the bells and whistles. I want to take advantage of this $5k factory lease cash.

    They quoted me 1294 drive off and 468 mo lease payments on the car. The sticker was around 40-41k. I don't have info like the money factor or residual amount. Perhaps that's the first place to start. Again I'm fairly new to this. But the price still seems high.

    I was thinking 1000 down and 425/mo. Thoughts?
  • amoto13amoto13 Posts: 18
    Hi bobwilson57!

    If you don't mind a 2012 Plug-in Advanced, Toyota of Thousand Oaks still had one as of 2 weeks ago and they are really trying to sell it.....you may want to call them and see if it's stil there and if it is, what kind of deal they can offer.

    Or you can wait until November 2014 as the 2014 Advanced will start at $34,905.

    Prius Plug-in Advanced model MSRP reduced by $4,620 to $34,905

    http://pressroom.toyota.com/releases/2014+toyota+prius+plug+in+starts+under+30k.- - htm
  • amoto13amoto13 Posts: 18
    The last offer I got was $267 a month, $0 down for a 36 month lease. I have not found a dealership yet that will give $0 drive off, however.
  • Thanks for the info, Amoto!

    Interesting. Perhaps it's better to wait for the 2014. I was under the assumption this $5k in lease cash would make the 2013 more attractive but I guess not. I'll also check up with Thousand Oaks.

    Guess it's a stretch to imagine they'll go for $425/mo?
  • amoto13amoto13 Posts: 18
    My guess is that Toyota is offering the attractive lease cash (and $2k cash for a purchase) in an effort to bump up sales of the 2013's before the 2014's come out.

    Here is the website for Thousand Oaks Toyota:

    http://totoyota.com/Default.aspx

    If you search under new cars and drill down to 2012 Prius Plug-in they still have it on their website. It says it's an Advanced and I would imaging they really really want to move this car!

    I would check and make sure that it still qualifies for the CA State Refund of $1500.00 too. If it does, you may be able to get a really sweet deal after everything is said and done!

    At $425 / month for 36 months you'll be paying $15,300. It depends on what the residual to determine if it's a good deal.

    Good luck!
  • your getting a $267 because you putting a drive off, you do not necessarly need to pay for first month payment , or first year registration, i know i didn't pay it
  • navsmnavsm Posts: 1
    with the new prices announced for 2014 PIP I am not sure if this is a good deal, but I just leased a PIP in WA

    0 down and 304/monthly.

    that's kinda best deal I got around on the I-5 corridor.
  • My friend told me he found this deal for a loaded, 2013 Prius plug in.

    1295 drive off
    455/month (tax incl)
    20,158 residual

    Which I guess makes the price of the car 37833.
    Car has nav, hud, leather, plug in, etc.
    Think this is a good deal?
  • susanx1987susanx1987 Posts: 7
    edited October 2013
    when i got mine i was looking at both models, i got quoted for advanced model for $0 down $0 drive off 3 years and 36k miles with residual of 20158 for $460 a month at tustin toyota from the salesman Daniel, a drive off is never nescassary. but i ended up with the base model
  • amoto13amoto13 Posts: 18
    It doesn't seem to be since the 2014 Prius Plug-In Advanced will be $34,905

    That makes the 2013 at $2,928 more than the 2014. Even if you take off the $1,295 drive off, you're still paying $1,533 more for a 2013 car.
  • Just signed the lease and brought home a 2013 plugin in magnetic gray with nav and backup cam.
    33k
    5,760 subversion discount
    3,100 down
    296/month with Gap insurance
    36mo and 36k miles.
    16,900 residual

    After lease prob just get a loan for one of our daughters.
    HOV qualified.
  • amoto13amoto13 Posts: 18
    Hi!

    Does the $296 / month include tax? If not, what is the monthly lease payment before tax? How much is the GAP Insurance per month?

    We are looking at a Blizzard White Standard Plug-in, includes adding on Homelink, Doorguards, carpet mats & cargo mat, 0 down / 0 driveoff, $284.07 / month before tax, 36 months, $16,960 residual.

    I'm trying to see if it anyone is getting it for less.

    Thanks!
  • sensei4sensei4 Posts: 2
    edited October 2013
    Yes, tax included in 296/mo.
    It was $249 before tax and gap ins.
    Gap was $595 total for term of lease.
  • slob1slob1 Posts: 1
    Hello everyone,
    Sorry if I sound very dumb but this is my first lease. I would like to get the 2013 Prius with my requirements being most importantly navigation, heated seats and backup camera. It seems the Prius IV with sunroof package is my only options per the dealership.

    Here is the deal he quoted me:

    Prius IV MSRP W/sunroof package 33290
    Invoice 30263
    Money Factor 0.00025
    Residual Value 17342
    0 down
    Drive off: 760 including 1st month and title
    36 month Lease 10,000 miles 12k/year
    price per month w/o tax: 391
    price/month including tax 9.5% :428.145

    This seems high to me...what would be a more appropriate deal? I am not even requiring a plug-in as I only have street parking available to me. Thank you so much for your help.

    I live in the LA area but would be willing to drive up to 1.5-2hrs around to get a good deal.

    Thanks so much
  • amoto13amoto13 Posts: 18
    Hi!

    Try going to

    https://www.truecar.com/

    and see what the average price is for the car you want. It gives you a good starting point to negotiate. When I looked just now for the LA area, it says there are 3 dealers with a guaranteed price for the Prius IV at $25,066.

    I'm still learning how the lease works but in doing simple math, at the end of the day you'll be paying $$31,418. That seems high.

    Good luck!
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