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Toyota Prius Lease Questions

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  • amoto13amoto13 Posts: 18
    Someone just sent this to me....the math is making my head spin =)

    HOW TO FIGURE VEHICLE LEASE PAYMENTS
    This is merely “For Example” – plug in your own values…
    Take the Cap Cost (selling price) = $ 26,915.00

    Subtract the Residual (55%) = $ 14,803.25
    Remainder = $ 12,111.75

    Now, take the remainder ($12,111.75) and divide by the Term, or length, of the lease…$12,111.75 divided by, say, 36 (months) = $336.44.

    Next, add together the Cap Cost plus the Residual, $26,915.00 + $14,803.25 = $41,718.25.

    Multiply by the Money Factor, always a ".00xxx" number. If they don't tell you the Money Factor, get the interest rate and divide by 24 (24 is always a constant). If interest is 6%, then divide by 24 to get .25, then put it after the .00 to get the Money Factor. Now we have .0025 as our Money Factor.

    Take the above mentioned $41,718.25 x .0025 to get $104.30.

    Add the $104.30 + $336.44 and get $440.74. Figure sales tax ($440.74 x 7% = $467.18) and this is your monthly lease payment.

    The money factor is used to figure out the interest rate on a car’s lease. Multiply that number by 2,400 to get the interest rate. So, with a .003 money factor, the interest rate is 7.2%. The residual value is the estimated value of the vehicle at the end of the lease term. Typically, you can purchase the vehicle at its residual value when the lease is up. (The industry’s bible for residual values is the Automotive Lease Guide’s Residual Percentage Guide; the figures can be on the low end and finance companies use this as a guide for setting prices.) Capitalized cost is the total amount that you’re financing, including the negotiated price of the car, all its options, fees and taxes; it should be under the manufacturer’s suggested retail price (MSRP). Finally, capitalized cost reduction is the amount of money you give to the dealer upfront, like a down payment, which is usually negotiable. Consumers should focus on getting a contract with the smallest money down and the lowest interest rate.
  • MichaellMichaell ColoradoPosts: 3,662
    I believe there is one small flaw in your math. The residual is based on the MSRP.

    If the MSRP is 30k and the residual is 50%, then the residual value is $15,000.

    However, if you negotiate a selling price of 27k, then the amount of depreciation drops from $15,000 to $12,000. Over 36 months, this means that part of the payment drops from $416.67 to $333.33 each month.

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  • amoto13amoto13 Posts: 18
    Thanks.....this is not my math, it came from someone who sent me a clip from one of those webistes helping to "explain" leasing.

    I don't know which site and I didn't do the math myself. Just scanning the clip was giving me a headache but posted it in case it could help someone else =)

    I'm more of a "bottom" line person. I want to know what I'm paying for the car at the end of the day. Right now I can't find a lease deal that is better than purchasing, so I'm leaning towards buying. There is an offer for the Blizzard White Plug-in for $27,900. After the $2500 Federal Credit and $1500 CA State Rebate, it will make the car $23,900 (plus tax, title & license).
  • Hi there! Thinking about leasing the Advanced PIP for my wife, I just got quoted 460/month (tax included), 12k miles per year, 0 down, $20,158 residual.. No MF disclosed.

    Do you think its a good price? is it really worth to pay more for the Advanced when the base one is $329 plus tax?

    Never leased before.

    Thanks in advance!
  • Here's what my friend got:

    2013 Prius Plug-in advanced (Nav, Hud, heated seats, DCC, PCS, etc)
    Blue

    $500 down inlcuding 1st month
    $455 month x 35 months

    12k mi, 36 months
    residual 20158

    I like the car a lot. Interior feels like a Lexus.
    Doesn't seem like a screaming deal but a good one. He didn't want to wait for next year, he needed a car right now.
  • Congrats to your friend!

    I just bought (no lease) the Blizzard Pearl Standard Plug-in this weekend at Folsom Lake Toyota. $27,488.00 was the price. Less the $2500.00 Federal Tax Credit and $1500.00 CA State Rebate, the FINAL price of the car will be $23,488.00 for me.

    I'm very happy!
  • jxtaijxtai Posts: 9

    just got an offer from a NJ dealer

    2013 Prius Plug-in Hybrid $500 down including 1st month $265 including tax X 35months

    12k mi, 36 months

    good deal?

  • ats07ats07 Posts: 1

    I think it is pretty decent. I just leased a 2013 PIP - base model. Rolled all the costs (tax, title, regn, dest. charge, etc.) into the lease: 267 x 36 payments

    It would have been 247, but I got suckered into getting the appearance rip-off package!

  • jxtaijxtai Posts: 9

    LOL.. I got the appearance rip-off package too. I got no choice because it already on the car. thanks for the reply!! I guess we both got almost the same pricing!!

  • Kirstie_HKirstie_H Posts: 10,837
    edited January 6

    If you are a parent of young children (at least one under 12 years old) who owns a 2012-14 Toyota Prius, a reporter would like for you to fill out a survey for use in a print publication. Please email PR@edmunds.com no later than Wednesday, January 8, 2014, for a copy of the survey.

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  • bbaimbbaim Posts: 6
    Hello, looking to get terms on a Prius 2 -- looking for money factor and residual? 36 mos and 15k miles.
  • bbaimbbaim Posts: 6
    Is this a good deal on a Prius 2? 36 mos/15k miles, $632 down/drive off and $350/mo tax included.
  • socalcommutersocalcommuter Posts: 3
    edited April 15

    I was almost set on a Civic before this last minute Prius C lease offer.

    36 months/12000 miles per year MSRP ($20,115) Selling Price ($18414) Drive off - 1st Month payment + DMV = $570Monthly payment $231 (tax included)

    My best Civic quote is about $40-50 less expensive. My question is whether the added MPG boost is worth the extra $50/month.

  • rjc5rjc5 Posts: 11

    Hi,

    Please take a look at this offer.

    Prius C (3). Got this offer in the SF Bay Area. Tier 2 credit.

    36 mths/15,000 miles

    MSRP $ 22,800, Sale Price $ $20,622, Acq fee $ 650, Drive off $ 635 (1st month +DMV and doc fee) $500 cash rebate, Net Cap Cost $ 20,841.67, Residual $13,494

    Payment before tax $ 272.43

    (Don't think GAP is included)

    Good deal or not?

    Thanks much!

  • aigochamalohaigochamaloh Posts: 25

    Any numbers on the Prius Plug in hybrid? Thanks in advanced!

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