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Toyota Prius Lease Questions

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  • Kirstie_HKirstie_H Posts: 10,822
    A reporter would like to interview someone who is having trouble finding a new Prius at a dealership. Please email pr@edmunds.com by Thursday, March 31, 2011 with your daytime contact information and a few words about your experience.

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  • zoranzoran Posts: 68
    When will 2012 Plug in or small prius be available?
  • nc_driver1nc_driver1 Posts: 47
    Hi Car Man,
    Could you provide information about the Prius' lease program and incentives in North Carolina?

    Many thanks in advance.
  • Have an deal on the table for a 2011 Prius III with Nav and Solar / Moon roof. $26,850 purchase price, 12,000 miles, 36-month lease, $15,800 residual for $385 / month (including taxes etc.).

    There is a good chance I guy the car off the lease but wanted the optionality of a lease. Any thoughts on that deal? Any more levers I can try to pull?
  • Does anyone know what is the Money Factor & residual for 2011 Prius II now?

    I'm in Los Angeles and looking for 36 months with 12,000 mile.

    Thanks.
  • Hi Car Man,

    I'm in Los Angeles area and was quoted Money Factor of .00025 and 57% Residual for Prius II for 36 months/ 36,000 miles.

    Does those number sound right?

    Thanks
  • Any news on what the MF and Residuals for December are? I was told it's 0.0002 and 57% for a prius II. Any ideas what it is for a prius III? (36 months/36,000 miles)

    Many thanks!
  • Hi no to co,

    I was quoted 0.00025 and 60%.

    Not sure if this is correct since no movement in this thread for a while.
  • tastecklertasteckler Posts: 14
    edited December 2011
    Below is the deal sent to me by a local Toyota dealer for a Prius II. The previous lowest quote I had gotten was $306/mo. (including 7% tax) for 39 mos. with only first payment down. This one is $268/mo. (tax included) for 39 mos. with first payment plus $21 for title fee for a total of $289 due at signing. It seems like a good deal, but I would appreciate any insight (no pun intended) into the deal that anyone might have.

    Trade(s) Allowance: $0.00
    ACV of Trade(s): $0.00
    Pay Off of Trade(s): $0.00
    Equity in Trade(s): $0.00
    Customer Cash/Rebate: $289.20
    Total Cash/Rebate/Equity: $289.20
    Inception Fees: $289.20
    Excess Cash/Rebate/Equity: $0.00

    Advance
    Original MSRP: $24,634.00
    MSRP Discounts: $0.00
    MSRP Adjustments: -$34.00
    Adjusted MSRP: $24,600.00
    Maximum Advance: $25,329.00
    Residual Value: (59.00%) $14,514.00
    Mileage Adj: (0) + 2.00% $492.00
    Annual Miles: 12000
    Excess Miles: N/A $0.00
    Adjusted Residual Value: $15,006.00

    Rates
    Discount / Buy Rate: 0.001130
    Adjusted / Sell Rate: 0.001130

    Deal
    Warranty Cost: N/A
    Warranty Charge: N/A
    Dealer Cost: $23,907.00
    Selling Price: $22,407.00
    Price Adjustment: $0.00
    Adjusted Selling Price: $22,407.00
    Down Payment: $0.00
    Down Payment Tax: $0.00
    Assignment Fee: $695.00

    Cap Cost
    Total Cap. Cost: $23,102.00

    Profit
    Vehicle Mark-Up: -$1,500.00
    Warranty Mark-Up: $0.00
    Paid Reserve: $0.00
    Dealer Incentive: $0.00
    Trade(s) Over Allowance: $0.00
    Total Profit: -$1,500.00

    Summary
    Payment Recap: 39 Months @
    $250.65 + 7.00% = $268.20
  • cmyawncmyawn Posts: 36
    Car_man or kyfdx,

    Are there any Toyota lease incentives coming in January for a Prius IV, 36 months, 12,000 miles per year?

    If so, what is the money factor and residual percentage?

    Any cash back/rebates?
  • 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
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    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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  • 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: 27,623
    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.. ;)

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  • 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
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    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
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