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Toyota Prius Lease Questions

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  • Carman, can you post MF ad residuals for metro NY area. for 3yr/36k I was quoted .00145 MF but residual varied from 62%-66% dependig on prius 3 or 4. Do they have different residuals? Also, do you know of any marketig money or dealer support money because of the problems? do you even recommend a 2010 prius because of the pedal issues? they said the 2010 wasn't involved.
  • Can anyone please give me the money factor and residual for the 2010 Prius IV with navigation? I need to lease one in the few weeks. Thanks for your help.
  • Here is the first offer I received. Can you advise?
    Prius IV
    MSRP = 31717
    CAP COST OR SALE PRICE = 29511 ($100 OVER INVOICE)
    36 MOS 12K/YR = $389 INCL TAX (RESIDULE = 19839)

    Thank you
  • karate19karate19 Posts: 5
    edited February 2010
    Hi. Trying to find out money factor and residual numbers for the 2010 Prius IV with nav. Thanks for your help. My 2007 Prius is coming off lease in March so I got to get moving.
  • mtenamtena Posts: 58
    Karate19, I'm thinking of a 2010 lease and was curious about your 2007 experience, specifically the mileage allowance. In your case, are you having to sweat staying below the allowed miles in your lease?

    Does anyone know the typical cost of buying extra miles in advance, at lease inception?
  • mtenamtena Posts: 58
    http://usnews.rankingsandreviews.com/cars-trucks/best-car-deals/Toyota-Deals/

    Too bad I live in the Pacific NW. Deals seem to be much better in Toyota's northeastern sales areas.
  • Forum Editors:
    I would like to lease a 2010 Prius, model 3, with the solar sunroof package for 36 months and 15k miles/year. The MSRP is $28,580 and I want a selling price at invoice ($26,000).

    The dealership provided me with an interest rate of 1.8% and a residual of 70%. That would result in a monthly payment (including tax) of $215 with $1245 due at signing (first month, bank fee, doc fee, dmv). Can you confirm the interest rate (MF) and residual?

    Obviously if this combination of residual and MF is accurate, this might be one of the greatest leases of all time.

    Thank you.
  • cluedweaselcluedweasel Posts: 148
    That residual looks high considering how far into the 2010 model year we are. Personally, I'd take that offer and run for the hills.
    BTW, back in 2003 I got an Infiniti M45 on a 3 year lease for $238 with $2000 down. For a $52,000 car, that was one of the best leases ever :)
  • cluedweaselcluedweasel Posts: 148
    Actually, ignore what I said. Just checked and it looks like a 72% residual on a 12,000 mile / 36 month lease, so 70% for the extra 9,000 miles would be right in line.
  • Hello all ; new to site ; live in Fl and see that Toyota is offering leases here on the Prius ;problem is the 09 Hyundai Sonata that I want to trade has neg equity . dealer said that all they could offer me is around 14k for my car but 17k is owed . I know its not good to do but I thought that the neg equity could be worked in on the lease . I was going to put $ 1500 down. Dealer here said it can't be done .Is this true for all Toyota dealers or should I go somewhere else ?
    any help would be appreciated :confuse:
  • mtenamtena Posts: 58
    In general, with strong credit, you should be able to "pay" up to a certain percentage (115%?) of MSRP and build that it into a lease.

    Not sure how a manufacturer-subsidized program plays into this, though.
  • cluedweaselcluedweasel Posts: 148
    According to the numbers on the current $199 per month offer, the residual on a Prius II is 72% for 36m / 12000 miles. Can anyone confirm that this is the case across all the Prius range? From this board, I can see someone got offered 70% on 36m /15000 miles.
    My local dealer is insisting on 63% and no reduction from sticker price. I want to get a confirmation on the residual before trying to get deals from other, more far-flung dealers.
  • bodidbodid Posts: 87
    Carman,

    How are you? Glad to see you're still giving advice because I need some. Looking for MF and residuals for a 2010 Prius V / 12K / 3yr. lease. Also looking same way for the Hyundai Tucson LTD 4WD. Seems that Toyota is eager to deal as I was walking by a Toyota showroom and a salesperson literally dragged me in. I see that current lease deals for the Prius are good till 4/5. Does Toyota's MF change on the 6th of the month or earlier? I was hoping you could shed light if you think Toyota will discount deeper as we get into March, April.

    Bo
  • I have an email quote on a Package II for 15,000 miles and the residual was 66.58%. 12,000 was 68.49%. I assume this was due to Toyota's unique policy of not residualizing some options. So I was given a residual dollar amount and worked the percentage backwards.
  • Cluedweasel - Thanks for the input and I was expecting the 70% residual based on working the math backwards on the advertised lease on buyatoyota.com, however the dealerships around me in NJ seems to be confused as they have all provided different residuals, so my thinking is that the high residual may only apply to the base model and not the Prius 3 through 5.

    Hopefully the edmunds moderator can chime in here to clarify the Prius lease program for March before it goes away.

    The best offer so far is around $300/month with $1300 due at signing for the Prius III with the solar sunroof package. That's OK, but certainly not a really special deal.
  • What is the 36 month lease going for on a Prius IV Solar Roof w/ Nav Package?

    Want to know Residual, MF, etc.
  • saturniussaturnius Posts: 17
    The guys at Santa Monica Toyota quoted me this today:

    Prius 2
    Msrp 23,550
    Residual 16,400 (69.6%)

    How hard can I hit them?

    The national advertisement out now is 229 month, w/ 879 due.
    That's $9,123 for 36 months, well over the $7,150 depreciation of a non haggled price.

    I'm thinking of walking if they don't give me 22,500. What i'm curious about is how much interest/moneyfactor I should allow them. I have perfect credit and don't think they should be able to ask for jack down.

    22500 - 16400 = 6100 / 36 = 170 before tax or mf.
    I think I can get 200/month (Tax incl), nothing down, 36 months.
    Am I crazy?
    Also, there is another major Toyota dealer 5 miles away. So i can play them off each other.
  • Are you crazy? No. Can you do much better? Maybe. Unless the NTHSB comes out and really "Datelines" Toyota with some hard hitting investigative reports as to what is wrong with these Toyotas, I would say about $200 or maybe $300 under invoice is the absolute bottom price on a base Package II, FOR NOW. I am currently $150 under invoice in my negotiations and have asked via email for $300. Should get a reply tomorrow.

    All the negative press lately has really opened up the lease deals for these Toyotas. Normally their lease rates are the absolute worst in the industry (around 7-8%.) The Prius is currently 1.8%. Nice! I have always laughed at leasing from Toyota. Sale price of OVER MSRP and high lease rate used to equal = $400 a month for a BASE Prius, no thanks. You could have bought one for less than leasing in the past. Now with the current lease rates and their willingness to sell at under sticker price, it actually makes sense to lease. I'm hoping to get $220 a month on a 12,000 mile 36 month lease.

    This is what happens when demand is low and supply is high. My local dealer has 54 Prius II. I am thinking about waiting and hoping for a rebate AND the low lease rate. I wonder if they will cut a hole in the floorboard for me so I can "Fred Flintstone" it when it accelerates out of control? Baaarrrrnnnneeeeyyy! No brakes!
  • cluedweaselcluedweasel Posts: 148
    I've got a $290 per month (36m /12K) for the Prius III with solar. That's on a $28580 sticker, $27000 selling, 0.00085 MF and 63% residual. You may be right about the high residual being on the Prius II only. I hope not. My wife is really stuck on the III.
  • saturniussaturnius Posts: 17
    Hey Indi,

    Thanks for the advice, I'll try and get them under invoice when I go to battle it out.
    This would be my first lease, do you get GAP insurance with your leases? Do you do it with with the leaser or with your own insurance company?
  • Hello Car Man,

    I am looking for the Market Scan rates for a $32,500 MSRP Prius, purchase price of $29,500 with 10K or 12K miles.

    Can you let me know what the payment would be, money factor and residual? I would like to purchase soon given the situation going on
  • I believe Toyota Financial is the only leasing company of all the major car manufacturers that does not inlcude GAP insurance for free. GMAC, FORD, Subaru, Nissan, I know for a fact do. Toyota, to my knowledge, makes you pay additional money for GAP.

    Maybe if they get desperate enough for sales, due to all of the recent turmoil, they will go ahead and include it like everyone else. Yet another reason why Toyota's lease program has historically been ridiculous in comparison to other brands. Might as well charge you an extra $50 a month for your cup holders while they are at it.
  • sw1024sw1024 Posts: 6
    Carman/moderators,

    Could you please give me the numbers for a Prius IV w/NAV & Solar--12,000 miles/36 months in Southern California?

    I have been told that the current MF is .00075. There seems to be some confusion out there regarding residuals though. Any info you have would be appreciated.
  • cluedweaselcluedweasel Posts: 148
    So still no news? I'm wanting to pull the trigger on this one, but I don't want to get stuck with a 63% residual if it should be higher.
  • ickick Posts: 16
    I am with you. I want to get $200/month with nothing down otherwise I am walking. Anything more just don't make sense. Toyota is crazy. Especially Santa Monica. they keep saying they are # 1 in the nation but their offer is not the best in the nation.
    If you can get a better offer somewhere else, can you let me know too? thanks much!
  • saturniussaturnius Posts: 17
    Dude. 63 is not the current offer. It's 71-72. It's toyota financing that sets it up, not the dealer. Maybe your dealer isn't in the program.
  • saturniussaturnius Posts: 17
    Have I been talking with you on Priuschat, ick?

    I leased the other day. Picked up a III (JBL & Blue tooth, no nav) for 215 before tax, 236 after. 680 drive off for 1st month and DMV fees.
    Found a good deal at Toyota Manhattan Beach and took it to Toyota Marina Del Rey and told them to beat it by 10 bucks a month or I'd walk. They refused. I got up to leave and they caved.

    Not the 200 I wanted, but at 23195 purchase price, Truecar.com says I got it at 500 below invoice. I was frickin proud, I'll tell you.
  • ickick Posts: 16
    no...I wish I have been talking to you. The deal you got is pretty good. Do you have your offer in writing/email? can you send it to me if you do? Thanks much!
    cc_work@yahoo.com
  • saturniussaturnius Posts: 17
    http://priuschat.com/forums/dealers-pricing/77132-diannes-socal-march-2-april-5-- leases.html

    Check out the 6th posting down on that link. Those are the deals she's offering at manhattan, that's what I took to Marina Toyota
  • ickick Posts: 16
    Great! Thanks.
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