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Toyota Camry Lease Questions

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  • ribbs2521ribbs2521 Posts: 1
    edited June 2010
    I guess from looking at previous posts I'm just supposed to use this same thread. So, how does this look? This is my first lease and my first brand new car.

    MSRP - 23050
    Price - 22150
    Cap Red - 500
    Trade - 500
    Term - 36
    Factor - 0.00002
    Residual - 14,144
    Down - 500
    Tax grp - 730.39
    Fee/Lessor - 217.50
    Payment - 239.74

    It's sign and drive so I'm only paying the 500 down and the first month's payment. There are no options, it's the base LE.

    EDIT: Yes, it's 720 for TFS tier one
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ejv207. Toyota isn't providing lease support on the 2010 Camry any longer. If you want to lease, you really should go with a 2011 model.

    Toyota Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a base '11 Camry with 12,000 miles per year were .00002 and 65%, respectively in your area for consumers who qualify for its top aka "Tier 1+" credit tier.

    I believe that Toyota decided to extend its June programs through July 6th, but I need to double check that to make certain.

    TFS' residual values are a little misleading. Unlike most other banks that allow the residualization (now that's a big word :) ) of all OEM options, TFS places restrictions on what options can be residualized and caps on the ones that it allows. This makes its effective residuals lower than its published percentages appear. It also makes it difficult for consumers to work up payments on specific models on their own.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi bmwdriver. Dealer invoice is a very attractive selling price for a leased Camry Hybrid and the money factor that you were quoted is right in line with the program that I have seen for this car. If you like the vehicle, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    edited July 2010
    Congratulations shellco. I'd be happy to take a look at this deal for you. The easiest way for me to evaluate your lease would be to take a look at the MSRP and selling price that were used to arrive at your payment. These numbers enable us to see how large a dealer discount you were given. Let us know and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Having said that, $390 per month does sound a little steep for an '11 Camry.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • pniblopniblo Posts: 2
    edited July 2010
    What do you guys think of this deal?

    2011 Toyota Camry LE 4 cylinder automatic (model# 2532)
    3 Year Special Lease till Jul., 06, 2010
    Drive-off.....................$1,000

    Payment.....................$204.45+ tax ($222.34) @ 35 months

    Mileage.....................12,000 miles/year
    Residual....................$14,144
    Fico Score 720+ (O.A.C.)

    MSRP.........................$23,050
    Your Price..................$20,588
  • pniblopniblo Posts: 2
    And this is at Longo Toyota near Los Angeles
  • Hi Car Man

    Can you please tell me the current MF and Residual for a 2011 XLE V6?

    Thanks!
  • Can anyone on hear help me out? I'm looking to lease a 2011 LXE V6. I thought from reading on hear that the Money Factor was .00002, I am being told by the dealer for tier 1+ it's .00090. This is a big difference in price. Is this just a regional deal? If so can anyone tell me the states nearest Chicago where I could get this rate? What really stinks is in Illinois I also have to pay 7.5% sales tax on the total vehicle price, not just the lease amount. Any help is greatly appreciated!
  • thebordcuthebordcu Posts: 6
    Hi - Please let me know what you think of this lease offer. We are outside of Philly.

    2011 Camry LE with Bluetooth Handsfree, Body side molding and Carpet/Trunk Mat Set

    MSRP: 23,558
    Residual: 14,144

    36 months with 12K a year
    Total paid as signing: 526 (1st month payment plus License/Tags/Doc Fees) and received a check for $1300 to pay off final 4 months of current leased car

    Total monthly lease payment: (305.29 - includes Gap and the 9% PA sales tax).
  • Hey Car Man,

    What is the residual and MF for a 12k/year 36 month lease on a 2011 Camry LE for August?

    Are the rates different for other models such as SE,XLE with V6's. Thanks a bunch.
  • ddoolsddools Posts: 2
    Hi , Please any help will be very thankfull; I have a Toyota Camry and the lease is running out this month and I want to extend it month to month. So I called Toyota and they told me that i had to to give them the mileage first before they would decide to extend it for me, but they did not see any reason it could not be done. I told them i did not know what the mileage and I would have to call them back this week sometime with that info. I am not one to tell a fib but I got the feeling that everything was dependant on the mileage number wether they extended it or not. Got that feeling. Question is why does it matter if the mileage is over the original given miles or at the 36k given in the lease. The actual is higher that 36k.
    Thx
  • ddoolsddools Posts: 2
    Hi , Please any help will be very thankfull; I have a Toyota Camry and the lease is running out this month and I want to extend it month to month. So I called Toyota and they told me that i had to to give them the mileage first before they would decide to extend it for me, but they did not see any reason it could not be done. I told them i did not know what the mileage and I would have to call them back this week sometime with that info. I am not one to tell a fib but I got the feeling that everything was dependant on the mileage number wether they extended it or not. Got that feeling. Question is why does it matter if the mileage is over the original given miles or at the 36k given in the lease. The actual is higher that 36k.
    Thx
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey wanttocamry. Toyota's lease program for the 2011 Camry varies by region. You never mentioned what state you are in, so for now I will use its New York region as an example.

    Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 Camry LE with 12,000 miles per year in its New York region are .00001 and 64%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    At first glance one might say, wow a 64% residual value...that's incredible. Unfortunately, it's also misleading. TFS places restrictions upon what options can be residualized making its real world residuals essentially lower than its published resids for base models initially appear. This also makes it difficult for consumers to calculate sample payments on specific models on their own.

    Car_man
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  • antoniusantonius Posts: 24
    Carman, can you give me the current buy rate and any other region specific info on the 2011 camry leases for Nevada? Thanks.
  • I had two dealerships on the phone, and told them I wanted no money down lease for 36 months, 36K miles, and got to around $200 including gap insurance.
    Looks like they discounted from 27K to around 22K. Probably 27K is inflated MSRP, but who knows. I come to the table with tax, tags, first month payment, title. In Maryland.
    Thanks for your replies.
  • ral2167ral2167 Posts: 641
    huh? you got an xle for less than an LE?? $200 a month for no money down? for a $27K msrp car??
  • antoniusantonius Posts: 24
    Yeah that does not make sense. 22k for a car and no money down, with a .0001 mf would yield a payment of about 230 with tax,
  • I signed a new Camry lease last night and after reviewing the paperwork at home realized that the initial lease payment collected was not prorated. I called the dealer and sent an email about getting an adjustment. In the state of Maryland, is it too late to negotiate after you sign a lease?
  • Car_man,

    Just want to clarify that the Mf is 0.00001(0.2%), right? Thats great!

    Thanks in advance.
  • delta737hdelta737h Posts: 603
    Why would your 1st (initial) monthly payment be prorated? That doesn't make any sense. In a lease, your first payment is due at lease signing. There is no proration. The only thing that may be subject to proration are DMV (license) fees.

    John
This discussion has been closed.