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Toyota Prius Lease Questions

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Comments

  • Yellow578 - I am in SoCal and looking to lease a Prius - can you provide the name of the dealership/salesperson. Very much appreciated!

    I think the Toyota lease deals end today.
  • SAM - Where are you getting this deal? Sounds really good. I am looking to lease a Prius today. Can you give me the whole run down?

    Thanks!
  • rleighrleigh Posts: 1
    I've been negotiating for the past few days and took a chance by waiting to see what today's new incentives would be. The money factor got better and the residual is 16445 (-200). This is a III, black/dk grey, nav+sunroof package. Zero down, OTD of first month only ($332). 36 mos, 45K, 2 yrs maintenance. Sales price 26000. I see a better deal above but that's FLA and I'm in Boston. How does this sound?
  • Kirstie_HKirstie_H Posts: 10,897
    A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalati@edmunds.com by Friday, August 6, 2010.
    Thanks,
    Chintan
    Corporate Communications
    Edmunds.com

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

  • sas9sas9 Posts: 28
    Hi all - I've had my 2010 Prius for 10 months and only drive in ECO mode - mostly for the best gas consumption. Can anyone tell me their experience with gas consumption between the two modes? Does the ECO mode really give better mileage versus POWER mode? Thanks,
  • tgr1978tgr1978 Posts: 2
    Hey everyone. Located on Long Island in NY. Went to a few different dealers online...my best deal for a IV (in blue, nav/roof, mats) is $379 total per month/36 months/15k miles. Down payment is 1st payment only and DMV fees.

    Sale price is $29,995
    Residual is $18,265

    How do you guys think I did? Looking to pull the trigger this weekend...went to 3 other dealers and no one was within $15 of the monthly price.
  • I got approved for a 36 Month Lease is this a good deal?

    $0 Money Down.

    Tier 1 Credit Approved.
  • mac213mac213 Posts: 2
    I think you could do much better unless things have changed substantially after Aug 2. I just bought an identical prius IV for 36mo/15k miles @ 319p/mo including tax, just 1st payment and DMV at signing plus 2yr 25k mile free maintenance. Details listed in my post above. If you notice, the negotiation started about where you are now, in the 370s.

    Also, those prices you got online might change when you actually get to the dealer, so check there first.

    I would choose a dealer that has a good service reputation since you'll bring it there for the free maintenance - oil changes, etc.
  • tgr1978tgr1978 Posts: 2
    Mac213:

    Where are you located? Is it possible the difference in price could be a regional thing? I can't imagine that, but wondering.

    My thinking too is that it was high, but the other 2 dealers I solicited where at the exact same number (which they are telling me is $250 above invoice).
  • sibra74sibra74 Posts: 7
    edited August 2010
    I'm located in the SF Bay Area and went with true, sign and drive, absolutley $0 down. P4 with solar, pmt is $349 a month inc tax and $400 for gap insurance during the lease. 36 months, 12k miles a year.

    Originally they wanted around $870 down and $321 (inc tax) a month, I opted for nothing down and the increase in pmt.
  • I got the following quote from a NY dealer:

    $245/month for 3 year/12k lease or $259.20 for 15K lease on Prius II, with cargo mats and nothing else.

    Money factor is .00001 and residual percentage is 65% or $15,496. Selling price is $21,008 and MSRP is $23,840. I tried to calculate the monthly payment but I come up with $164.75 (not sure if I am including everything). My tax rate is $7.35%. What information as I missing.
  • delta737hdelta737h Posts: 603
    edited August 2010
    woodman944,

    You've indicated the selling price but failed to mention amounts financed (i.e., capitalized) as well as cap reductions, if any. Also, do those payments include or exclude tax? Is the 65% residual factor for a 12K or 15K mile lease? I'm guessing 12K. What, specifically, are you paying upfront? Taxes? Acquisition fee? Doc fee? Too many unknowns. Also, are you sure about the 0.00001 money factor? Seems very low to me.

    The payments do seem extraordinarily high to the tune of about $60 assuming the 0.00001 money factor and residual are correct. Are you financing negative equity? Assuming that you're financing NY sales tax and the acquisition fee, it appears that an additional $2,000 is being capitalized (i.e., financed) which may include the dealer doc fee, DMV fees, and God only knows what else.

    I suggest that you ask the dealer for their LEASE WORKSHEET. This is a computer generated document that contains all relevant information. This will eliminate confusion and misunderstanding. Do not let them give you numbers over the phone as that's a piss poor way to do business. INSIST that they provide you with their lease worksheet as it will answer a lot of questions. There is absolutely no reason for them not to give it to you. If you like, email it to me at

    diffeq@zoominternet.net

    and I'll be happy to analyze it for you.

    John
  • Thanks for the offer. I am asking for the lease worksheet now. They seemed very eager to write up the deal.
  • delta737hdelta737h Posts: 603
    Eager, huh? Gee, I wonder why? I'm curious to see how they react to your request for their lease worksheet. Should be interesting.
  • John - dealer first refused to give me lease worksheet as propietary but they did fax me something. I tried your e-mail but couldn't get it to work. Do you have a different one?

    woodman
  • Hi Guys,

    Just looking for some mindshare. Been shopping around and got the following lease deal from a SoCal dealer:

    Prius IV + Navigation
    0 down, $290 (+tax) per month, + DMV fees, 2 yrs free maintenance, 3yrs / 12k.

    Let me know what you think or if i can get them lower by shopping around further.
  • mleomleo Posts: 10
    Is this a good deal for a white ("special color" - $200?) Prius II

    Price: 21,738
    term: 36
    residual: 14,820
    mi. per year: 15k
    acq fee: 650
    Gov fee: $68
    taxes: $777
    doc fee: $120

    Zero down
    Initial payment: $261
    35 mo. thereafter $261
    All taxes and fees rolled in.
  • I'm about to sign on a Prius III with Nav, mats and solar sun roof. 12k, 36 months for $300/mo and $500 down. So, $800 drive off.

    Msrp is $29,423.00 sale price was $24,something.

    Good deal?
  • I got the same car minus the solar sun roof 12k, 36 mths, 260/mth (including tax) and 1278 drive off...
  • hey abird,

    could you give me the name of the dealership you got this deal from. that's a really good deal.

    thanks
  • hey Durniljr,

    could you please let me know the name of the SoCal dealership you went to to get a good deal.. looking to get a prius in the next few days

    thanks
  • I'm looking to get a Type 3 with Solar in the SF Bay Area, what do you guys think of this? 12/36

    $269.77 + 26.30 taxes = $296.07 monthly payment
    $737 Drive Off

    Residual is $16921.

    Thinking of getting it tomorrow, i would really appreciate your help.
  • not many options, pretty much just bluetooth and sat radio and a better stereo.

    leased for 500 down and 247 a month including taxes.
  • which dealership? looking to get one with the exact same pkg. thanks
  • manhattan beach toyota. was actually a great car buying experience.
  • I'm also shopping for a prius 3 (no nav) for a 36k/3yr lease. Best quote I've gotten so far is as follows:

    MSRP: $25,039
    Selling Price:$23,493
    Residual: $15,946
    Other Capitalized Items (not sure what this includes) $849 - Cap Cost Reduction 183.41 + Tax on Cap Cost Reduction $12.84 = Adjusted Cap Cost $24,158.59
    Money Factor .00065
    $254.20 per month + $17.79 sales tax (7%) = total payment $271.99
    $650.00 acquisition fee
    $166.20 state & local fees

    I feel like I'm missing something, just not sure what. Pre-tax payment of $254.20 per month just doesn't seem all that outstanding. Any feedback is appreciated.
  • Hey Carman,

    Please post the Sept Lease rates and residuals for 36/12k on the Prius III and IV. Also let us know of any special rebates etc. Thanks!
  • Is $1500 down and $299/mo (inc tax) a good deal for Prius II with free 2-yr maintenance for 3-yr lease? I have very low credit score.
  • Not sure what your credit rating is, but the current money factor is .00001 for well qualified buyers. The other big piece to remember to negotiate is the Gap insurance. Toyota does not include it in their lease rate. The dealers I spoke to say it ranges anywhere from $500 to $895. I was able to negotiate the following for a Prius III base (only floor mats):

    36 mos/12K miles
    Gap insurance included
    $1,357 inceptions
    $1,000 cap cost reduction (to be matched with another $1,000 from Toyota)
    $181 per month
    If you load in up front payments into monthly payments, per month cost is $246.47 fully loaded.

    Dealers will be anxious to make deals this weekend with current incentives ending Tuesday. Good luck.
  • Never buy GAP insurance from a dealer if the fund provider doesn't offer it in their lease contract, or provides it at additional charge, because the cost is grossly inflated. Check with your insurance carrier and, whether you buy or lease, your carrier can attach a GAP rider to your existing insurance policy. The annual cost, as a rule of thumb, is roughly 0.10% of the vehicle's MSRP. So, if the MSRP is $49,590, then your annual GAP premium is roughly... 0.10% x $49,590 or about $50 annually.

    John
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