Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Toyota Prius Lease Questions

1679111216

Comments

  • I am being told by a dealer that the Residual Value is set by Toyota. I thought that it was based on a percentage. Is it possible for someone to confirm that Toyota Financial Services has a fixed residual value on a 2010 Prius IV w/Solar? Or if it is not please confirm the Residual for August 2010. I thought it was supposed to be 65% based on other posts.

    Thank you.
  • dwynnedwynne Posts: 4,018
    The residual is set by the lease bank and can't be changed by you or the dealer. In this case it is a TFS lease so they set the residual. TFS does not treat options as the they do the whole car. So a car with no options may have a 65% residual, but only for the CAR (not including destination) and the options (like solar roof) will be at a lesser rate. On the dealer's invoice is the TFS lease residual - actually there are two, high mile (15k per year) and low mile (12k per year). That is going to be some odd percentage of the MSRP of the car and options. That is the number they will use. If the dealer puts down the wrong number, TFS will not fund the lease.
  • Thank you very much for the reply. That helps me understand the TFS numbers better. Does anyone have the numbers on a Prius IV solar for me to compare. I am being given: MSRP $32,235 Cap Cost $30,199 and Residual of $18,797 with $840 down and $367/mo for 36mos at 12k/yr. for silver ($7/mo extra for Blizzard), and I was also quoted $1081.17 down and $311.19/mo. for 36mo. 12k/yr. for Blizzard Pearl. It seems like there is quite a bit of difference between the two and I don't know where there is room to negotiate.

    Thanks again.
  • I bought one from Toyota of North Hollywood. 3 year lease, 12k miles, $15.2k residual, no money out of pocket, 2 years maintenance, and they make the first payment.
    $249 plus 9.75% tax and I rolled the $350 license fee into the lease. Payment is $290 a month. I was in and out of that place in a flash.
    I bought it for my ex wife and after driving it around there's no way I could give up my Avalon for one of those lol. Not bad for the price though.
  • dwynnedwynne Posts: 4,018
    You can figure invoice right here at Edmunds (and other places) by looking up everything on the window sticker and the cost. Get the MSRP to add up and then see the invoice. It should be around $30,343 for a car with a MSRP of $32,235. So your price would appear to be a little under, which is good. Some dealers are offering a good bit under invoice, so there may be room to move on your price.

    I don't know where you live and what the taxes and fees are like, but you need to get a breakdown of where the money is going in both lease deals to see if you are being offered a decent deal or the shaft.
  • Hi - did you get this Prius III? I am getting $252 per month with $2000 down for a total 36 month (15K miles per year) amount of $11,072. I don't have the solar roof though. If you leased it already, which Bay Area dealer did you get it from? Thanks in advance!
  • Thanks for the info. My insurance carrier in my state doesn't offer GAP insurance. The dealer through the GAP insurance in AFTER I had gotten the price down as an enticement to accepting his offer over a competitor's dealer.
  • I am looking into a Prius III and would like some information before I start going to dealerships. Can someone please let me know the residual % on a 15k mile lease as well as the current money factor? It would be greatly appreciated.
    Thanks
  • I got a black prius IV , nav , maintenance, sunroof 15k/year, msrp 31900... 875 down , 355/month including taxes ... any advice is appreciated . thank you
  • If you could give some additional details such as residual, money factor, the base cap cost (what you negotiated the price to) it will be easier to let you know.
  • cap: 29,892
    residual:18265

    Im not sure what money factor was used. I got the car 8/2010.
  • Assuming your doing 3 yrs/15k miles, I'd say you didn't do too badly. It looks like you negotiated a pretty good price and doing some quick calculations, the MF seems pretty good too (0.0008 or 2%). Others can chime in, but if you're happy with the payments I'd say job well done.
  • esgamesgam Posts: 13
    Can you let me know what dealer you got this deal at? It sounds great to me and I'd like to call them up. Salespersons name would be great too! Cheers.
  • Has anyone leased a IV w/solar pkg. and mats in the Chicago area? I'm getting monthly payment numbers from $378 to $429. No one seems willing to budge. I saw an earlier post for $349/mo. taxes included in SF Bay area. Any reason why I should not be able to get a deal like this in Chicago? Any info would be appreciated. The car has an MSRP of $31840, residual of $18,531 (per multiple dealers), a money factor of .00065. Invoice on Edmunds is 29,213 and there is an available $750 rebate on leases. One dealer offered a cap cost of $29,000.
  • send me an email dannyben@gmail.com and id be happy to give you the info
  • Hey birdlivs. The Prius' lease program varies by region. If you let us know what state you are in, either myself or another helpful community member should be able to give you an idea of what its lease program and other incentives are like in your area.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello Car_Man,

    thanks for your helpful info. Can you please share this information as requested by birdlivs for NJ also. Looking to lease a Prius IV or V with the solar moonroof and navi.

    thanks,

    nyboy
  • I also would like to know.. please help carman!! :D
  • surysury Posts: 2
    For Prius IV with Navigation and Carpet Floor/Cargo Mat, I recevied the following in Bay Area
    MSRP 30040, Quote 27852 plus 650 destination charge
    Money factor is .00009 and Residual is 58.75& for 3 yr 15,000 miles/yr
    - first month payment is 732.90, for a monthly payment of 336.15 with tax.
    Is this a good deal. The quote includes Advertising Charge of 760 and holdback of 32 and financial reserve of 266.
  • Carman,

    I am looking for the October residual and money factors for a 2010 Prius III in Florida (zip code 32746) for 36 mos, 15k mi/yr

    Thanks for your help!
  • I'm in central Florida looking to lease a 2010 Prius II. With zero down, best price is $265/mo. including all fees except tax. With leather, it's $312.

    Is that a good price?

    I'd prefer to go with the cheaper rate, but I'm afraid the cloth will get dirty.

    Any feedback on cloth vs. leather?
  • Hi Aldorogo,
    That looks like an amazing deal. I'm in South Florida, but that's worth the drive up. Could you fill me in on the name of the dealership? Thanks!!!!
  • That sounds like an amazing deal. What dealership did you go to? I'm looking to sign a lease ASAP. Thanks!!!!!
  • Just checked out the Prius II yesterday at a dealership here in Charlotte, NC. Carman or anyone else that can share any info they have received on a 3 yr./12k mile lease for a Prius II with leather? The big guessing game in leasing is whether the incentives are better in the given month or the following month,etc? Are November or December better months historically? Appreciate any feedback.
  • cp101cp101 Posts: 6
    To anyone who can offer an opinion -

    2010 Prius II w/ cloth
    36 Mo / 45,000 Mile Lease (15K / Yr)
    $1500 total at closing (includes payment #1)
    Total monthly payment: $242
    Location: SW Florida

    Please let me know if this is a good deal in comparison to what others are paying out there. Thank you very much.
  • Hello Everybody -

    I have just signed a lease on a 2010 Toyota Prius IV, with solar package, Navigation, sun-roof, floor mats, alarm system and Lojack. This is in New Jersey. This is a 3 year/36 mile lease.

    I would really appreciate if all of you could tell me, if I have signed up a good deal or not..I believe, I have been fleeced by this dealer..but wanted to get your views..any advice would be highly appreciated and also enlightening for me. The following are the details;

    1) I traded my 2007 Prius for 2010 Prius IV. I had an outstanding of USD 7682 on my 2007 prius with 47K+miles on it, for which I received USD 12,000 in trade-in.

    2) They took this into account and asked me to arrived at a figure of USD 4317 (net trade-in account)+823 (cash down payment) ie total of USD 5140.71.

    3) The MSRP works out to be USD 31830. An additional 1080 was charged for options and extras. Gross Capitalized cost is USD 34789, Annualized Cap Cost is USD 30530. Residual value at the end of the 3rd year is 17999.

    Total monthly payment (all inclusive) is USD 360.

    So my humble question is ..is this a good deal or have I been fleeced.

    I am completely new to leasing. Wanted to buy the vehicle but then was advised to go the leasing route. After reading the posts on this forum, I am confused if I have done the right thing or not.

    Please advice.

    Thanks and Rgds
    Karthik
  • delta737hdelta737h Posts: 603
    edited October 2010
    karthikv,

    There is simply too much information missing for anyone to intelligently evaluate your deal. I suggest that you ask the dealer for their lease worksheet which is a computer generated document that will tell you everything you need to know and then some. Please don't let them plead ignorance by acting as though they don't know what a lease worksheet is because that's pure garbage. Every Toyota lease contract must be submitted to the fund provider and MUST include the lease worksheet; otherwise, the fund provider will not fund the lease. If they refuse, then I suggest that you RUN, DON'T WALK, to another dealer.

    If you like, you can email this document to me at

    diffeq@zoominternet.net

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

    All the Best,

    John
  • John -

    Thank you for responding back. I have just sent you an e-mail.

    Pls check and let me know.

    The bottomline is that , I would like to know is whether USD 360 per month is a high number or within reasonable range for leasing a Toyota Prius IV.

    If its high, how much extra am I paying every month?

    Thats all I would require.

    Thanks for all your help.

    Rgds
    Karthik
  • Would you please provide the current residual and money factors for leasing a 2010 Prius IV in Tampa, FL? Also, are there any current incentives or promotions?
  • larrykinglarryking Posts: 1
    edited November 2010
    I just leased a Prius IV this weekend from Culver City Toyota in Los Angeles. Here are the specs:

    3yrs/36K miles
    Navigation Package, Blue Tooth, etc
    No Sunroof
    Winter Grey Metallic
    Accessories: Illuminated Door Sills and Prius treatment/sticker on back bumper

    They honored their advertised special of $299/month with $0 down and the first month free. Factoring in the free month reduces my average monthly to $290.69 (plus tax).

    I was super impressed with this dealer as they not only honored their ad (which is a rarity in itself), they took the time to locate and trade for the color I wanted which is Toyota's most popular.

    I could've leased a Prius II (in any color) for $249/month with $0 down and the first month free which would've given me an average monthly payment of $242 plus tax. I thought that was a steal but the wife wanted the leather, navigation, etc.
Sign In or Register to comment.