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Toyota Camry Lease Questions



  • Hi christostp. The lease program that you mentioned in your post is correct, however it is only for Camrys leased in Toyota's Southeast region. Toyota's Southeast region is an independent distributor that has different incentive and lease programs for vehicles than the rest of the country does. This is very helpful info for someone in the Southeast that wants to lease a Camry right now, but unfortunately it is not indicative of the lease program that is available in the rest of the country right now. I haven't seen Toyota's Southeast region residual values for this car, so I am sorry to say that I cannot help you out there.

    Prices Paid Forum
  • Hi Ernest. Unfortunately, Toyota is not currently providing any sort of lease support on the 2007 Camry. As a result, if you want to lease one through Toyota Financial Services, you will have to pay its standard lease money factor. Its standard factors vary by region, but should probably be around .00275 to .00300 right now for consumers who qualify for its top credit tier. I haven't seen this car's residual values lately, but even if I had they really wouldn't be all that useful because of the way that TFS calculates leases on vehicles. Its published residual values are based upon a percentage of vehicles' base MSRP. It places a strict cap upon which options can be residualized and how much of their price can be residualized. TFS provides dealers with actual dollar residual values for every vehicle that they have in inventory that they then use to calculate lease payments. the percentages are very difficult to use to calculate any sort of accurate lease payment.

    Prices Paid Forum
  • Hi Alex. Please see my previous post for the information that you're looking for. Thanks and let me know if you have any other questions.

    Prices Paid Forum
  • Hi somd_driver. The money factor that you were quoted sounds about right to me. Despite the fact that Toyota is advertising lease payments on the 2007 Camry right now, it is not providing lease support on it. As a result, consumers who lease one through Toyota Financial Services right now have to use its standard lease money factor. I believe that its standard money factor varies by region, but it is probably around .00275 to .00300 for consumers who qualify for its top credit tier right now. This is in line with the factor that you were quoted.

    Prices Paid Forum
  • Hi mrum. Check out my previous couple of posts in the Camry. Basically, Toyota is not currently providing any lease support on it right now.

    Prices Paid Forum
  • First and only lease, should I consider buying the car from the finacing bank? What should I look at in the lease agreement that would show if it's worth doing versus turning it back to the dealer. The car has lived up to it's excellant reputation mechanically including the uncomfortable seats. Please advice.
  • Hello All,

    Does anyone know where I can obtain the "Lease Rates and Residuals" buy sheet from TMCC? The one the dealers have in their notebooks? This is for Socal region.

    Thank you.
  • Hi nd2know. I can give you an idea of what Toyota Financial Services' residual value is for a base 2007 Camry XLE. The problem is that Toyota Financial Services calculates vehicles' lease payments differently than other banks. It places restrictions upon which options can be residualized and caps on how much can be for each option that is allowed. It is so confusing that TFS actually provides each dealer with an exact dollar residual value for every vehicle that they have in stock rather than having them use the residual value percentages. For what it's worth, TFS' current residual value for a 36 month lease of a base 2007 Camry XLE with 15,000 miles per year is 60%. For the purpose of calculating a lease payment, the residual value of the exact model that you are interested in will be lower than this if it has any options.

    Prices Paid Forum
  • Leased TCH with NAV, leather seats, sunroof etc ('fully loaded') for $5000 due at lease inception and $300/month in MA. 12k/month for 36 months. Very happy with the car. Feels like I bought a gizmo instead of an auto. Yet have to figure out how to turn on the heated mirrors but, as usual, haven't read the manual yet (yeah, it's cold and frosty in MA)...

  • Can someone comment on the figures and strategy for making a decision to buy the car or send it back. The lease agreement has the purchase option value at $11,620.00 with $150.00 fee plus tax. Gross Capitalized Cost $21,300. Paid $1271 on delivery plus 15,000 miles. Total payments $14,847.00 Depreciation and Rent charge $12,500.67 The car is at 31250 miles and garaged.
  • I just bought a new TCH. I was planning to lease, and got a quote from the dealer. When I factored in the leasing fees (insurance, fees, and "additional cap costs") as well as my interest costs compared to the implicit interest costs in the "money factor" and considered the fact that I could get the $1,300 tax credit if I bought the car but not if I leased, the decision was not difficult to make.

    Toyota also depreciated some of the options 100% over the period of the lease.

    The only advantage to leasing, as I could figure it, was the possibility to turning in the car if something made it worth a lot less than the lease-end value at the end of 3 years. (This would have to be something that ruined the market reputation or utility of the car, which I think is highly unlikely.)

    But I figured that if that was the only reason, it was like paying $5,000 for that option. My lease-end value was $17,132 after 3 years, and I figured if I sold it after 3 years for more than $12,000 I would come out ahead.

    Not a hard decision...
  • Hi sammythebull1. In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Many knowledgeable community members frequent that discussion and they are often kind enough to give others their opinion on vehicles' current values.

    Prices Paid Forum
  • I cant find a decent lease deal anywhere in MA. Where did you get yours. $5k down and $300 month is not even close to what I am being quoted. Any help would be appreciated.
  • For the sake of clarification, I was referring to the fact that I cant find a decent lease for the Toyota Camry Hybrid. I am being quoted numbers in the mid $500s for 36 months and 15,000 per year for a loaded hybrid (nav, leather, roof, msrp of about $31k). Does anyone know of any incentives coming up on the hybrid camry or have a reccomendation for how to lease it at a reasonable price?
  • I am making this post to get some feedback and opinions about my lease payment. Some of my friends think I am paying too much, compared to one's '07 accord and others' different brand new GM cars.

    I leased an I-4 5sp. AT '07 Camry. The lease is 3 year/45,000 miles, and I also purchased the extended "platinum" coverage plan through Toyota. My Camry came with the moonroof package, the upgraded JBL stereo, body side molding, and car and trunk mats.

    The car was a demo and had 2,000 miles on it when I got it. I think the MSRP (which doesn't really matter) was a little under $24,000.

    The price came to $21,484 before taxes (came to a little over $22,000). Invoice was listed at $21,184.

    With no money down my payment is a little under $400 (and before the extended coverage package was around $380). I also qualified for the best credit rating.....

    Is this a good lease price or am I paying too much?

    (They also threw in the first oil change and tire rotation)
  • kiawahkiawah Posts: 3,666
    That extended warranty platinum plan is costing you dearly. You're paying 20x36=$720, for 8 months of warranty coverage from months 37-45. Is that the 7 year warranty (actually 4 additional years) that you won't be using?

    I'd give you a free oil change as well.
  • It is the 3 year/50,000 mile coverage. To me, it looked like it went above and beyond the normal coverage. Provides you with rental, travel reimbursement, and other coverages that the factory warranty doesn't cover. If I get a flat Toyota will change it. They will tow me (unlimited miles) to a Toyota Dealer for repairs, and so forth. Also, my deductible for that stuff is $0.

    I guess I need to look more in depth over the factory warranty and the platinum coverage warranty. Do you think it would make more sense to purchase the extended warranty before I approach 36,000 miles, becasue I am sure I will reach the 45,000 mile mark.

    Do you think the lease payment is fair?
  • kiawahkiawah Posts: 3,666
    Here's the way I look at this, down and dirty.

    Payments of $400 per month, if you assume the interest rate is 6%, is the equivalent of borrowing $13,148.....except at the end of the lease you don't own anything. You can use loan calculators to figure any combination of amount borrowed, payment, and interest for a particular length of loan. 720 of that 13,148 went to buy the warranty, remaining 12,428 went to compensate the dealer for the use of the car.

    I just did a quick search on for new vehicle with the features you mention, found a similar which but it also had alum wheels (which I think if I remember correctly is about a 500 option)and it was MSRP for 24K, with sale price of 21.7K. So your paperwork prices are a little high but sanity check, except critically you bought a used car, as opposed to new. I've never bought such a 'new' 'used' car, but seems to me you should knock a couple thousand off (else why don't you just buy new?) maybe 19.0 - 19.5K would be the value of the car. Others could probably weigh in as to what further discounting one would expect for 2K miles of a current year production car.

    So if I take the 19.5K car value, and subtrack the lease payments you would make of 12.4K, that leaves a difference of about 7K. One would consider that the residual on the lease (what the dealer is thinking that car would be worth at the end of the lease), which is way low for a 3 year old Camry. Now taxes come in to play here as well, but no idea where you are from or what your tax rate is. Result might be that the residual is about 8K....still low. Depending on your locale, I would think this would be in the range of 12-15K.

    So if you haven't bought yet, I'd cool my heels and look around for a much better deal. Certainly, you should crawl thru the details of this deal with more specifics.....and understand each financial piece of this deal. Exactly what is the car worth, discounted because it's used. Exactly what is the residual that they have planned for in the lease calculation, what is it worth after 3 years. Validate that from what you can find on 3 year old Camry's and/or internet/Edmunds pricing. What exactly is the interest rate they are charging you for the lease? What exactly is that warranty providing to you, given that there is already a warranty on the car. Since the car is used, that means the warranty already started and you only have 2 years left on the factory warranty? Further reason to discount the car from a new vehicle price. What is wrong with this car, that someone got rid of it after a year and only 2K miles? In regards to extended warranties, it's a balance between the reliability of the car (and you may never need it), your risk tolerance, and how capable you are on paying for some work if by some chance something did break. I'm betting if you really do want this car, that if you really crawl thru the numbers you'll find some details that you want to resolve and you'll get a better price from the dealer.

    If you think of this another way, if you borrowed money as a loan to BUY this car as opposed to LEASE (and your 400 payments were the same), then if you put an additional 8K down to buy the would OWN the vehicle at the end of 3 years. Right now, you'll own nothing at the end of three years.

    If you already bought this, then you may just have to suck it up and you have what you have. Chaulk it up to a learning experience, there's many worse learning experiences in life so this isn't soo bad.
  • kiawahkiawah Posts: 3,666
    I think of a lease as a couple of transactions wrapped up together.
    1.) It is agreeing on the value price of the new vehicle. Not MSRP, but the discounted price as if you were agreeing on a cash purchase.
    2.) It is agreeing on the end value price of the vehicle after 3 years, or the residual. Some leases allow you to purchase the vehicle after 3 years at this price. So if they undervalue the residual value, you can buy the car and turn around and sell it if you wish.
    3.) The difference of those two is the depreciation and wear and tear on the car that you are going to put on it. That and the interest are what you pay for. Do a loan calculator with the applicable interest rate and months, to come up with a monthly get close to estimating the lease rate.
    4.) The one time fees (taxes, registrations) either have to get paid up front or included as more monthly payment.
    5.) Platinum warranty, at whatever value it has to you if you want it, needs to get paid up front or included as more monthly payment.

    Understand each piece of this.
  • Thank you very much for such a detailed response.

    I did already "purchase" the car, or should I say I leased it. Like you said, it is a "new-used" car and the "purchase" price was $300 over invoice. I did kind of get screwed, if you will, due to that depreciation, but I really liked the car. I drove a few Hondas and GM cars a few days prior and liked this the most.

    The main reasons I got the car was for convenience and because of the car's options. I was in a car accident a few months prior and was dealing with a bunch of BS from the other insurance company as well as a few months of physical therapy. I was without a car but was still able to use other people's cars.

    No other dealers in the area had the moonroof package and JBL stereo combo. They all had the alloy wheels and moonroof or the alloy wheels and JBL stereo........AND, I wanted the moonroof and stereo. I did act a little fast and may have made too quick of a decision, but I am pretty sure I will be happy over the next three years. The salesman was a family friend and did a good job "selling" me. This is my first new car so I did get caught up in the whole swing of things.

    It was definitely a learning experience to say the least.
  • This is for a '07 Toyota Camry LE w/ sunroof package.

    Price $19,390
    Residual $12,795
    MF .00275
    12K annual, 3 year lease.

    Option 1:
    $558.75 drive off
    $312.29 per month

    Option 2:
    $1,000.00 drive off
    $298.39 per month

    Option 3:
    $2,200 drive off
    $260.61 per month

    NOTE: price quoted include all taxes and fees. I am in CA, with a tax of 8.25%
  • That price seems pretty low to me, so good work. What was invoice? Some people are paying more than that for a Camry with no options.
  • Hi rliu818. Toyota is not currently providing any lease money factor support on the 2007 Camry. As a result, if you were to lease one through Toyota Financial Services right now, you will have to use its standard lease program. Its current buy rate standard lease money factor is right in line with the .00275 that you were quoted. That's as good as it gets on the '07 Camry right now.

    I suspect that the $19,390 price that you mentioned is this car's selling price. If so, what is its MSRP. If you let me know I will be happy to give you my opinion of it. Also, make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Toyota Camry: Prices Paid & Buying Experience".

    Prices Paid Forum
  • kenkokokenkoko Posts: 5
    My current lease is up in 10 days, i saw this add in the news paper this week

    07 Camry LE v4 automatic
    MSRP $21,594
    Residual $ 12,673
    $1,999 due at signing
    $239 + tax ( 8.25% for me in California) for 36 months
    thanks for the help :)
  • saarkssaarks Posts: 1
    Just picked up a 2007 Camry LE v6 base in El Monte, CA

    car was MSRP 23,540 + 620 transport

    36 month, 12,000k yr
    $0 down, only $600 in TTL
    $325/month including tax... best price we got from all the dealers
  • samir1010samir1010 Posts: 13
    I am completely new to leasing and am looking at a few cars trying to decide which one to lease. I just saw a TV commerical for a lease on a 2007 Camry LE for $999 down and $269 a month. I'm in Texas. Has anyone heard of this deal or does anyone know if it's a decent deal? I called 2 Toyota dealerships up and they had never heard of it and said that for $999 down all they can do is $299 a month. Any advice or info would be helpful. Thanks
  • dreasdaddreasdad Posts: 276
    The add says 269 a month for 36 months 12,000 miles a year
    with 999.00 down plus tax title and license . Its a national add so the ttl would always be diffrent state to state. Is on a bsaic Camry LE auto with no options at all.
    Any options would add to the payment or down.
  • ansariansari Posts: 11
    I leased toyota camry LE yesterday march 17,2007 for 300.39 per month
    I paid upfront $ 1000.72 (Includes Capitalized cost reduction = $ 500 ;+ First monthly payment 300.39 + Title fee $ 65 + Registeration fees $ 78 + Doc fee to dealer 57.33 ),

    Total lease term payment = 10814
    Residual paymnet =$ 12794.75
    Gross Capitalized Cost of vehicle is 21237.00 ( value of vehicle is $ 19375.00 + $ 1312 taxes + $ 550 Acquisition fee).

    If some body has better than this lease let me know. Keep in mind it is according to Illinois , will county rules and regulations)
  • stlpike07stlpike07 Posts: 218
    Like someone else posted in another discussion thread,

    What model, what options, what is the term of the lease (how many miles and how many months)?

    Listing those things more accuratley describes your lease.

    For example, I leased an '07 Camry in December of last year. The MSRP was a little under $24,000 and I got the car for $21,484 (not including fees and title)

    Lease Term: 36 month, 45,000 miles

    My options: JBL stereo package, Moonroof package, Body-side molding, and floor and trunk mats.

    I also got the Toyota "Platinum" Extended Warranty Plan (36 months, 50,000 miles)

    With the addition of the extended warranty plan my monthly payment went up to $398.88. I also got therr first two "services" thrown in for free too.
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