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Toyota Camry Lease Questions

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  • Hello Car Man...

    I was wondering if you had anything on these Camry Lease programs for us?
  • leob1leob1 Posts: 153
    Someone ran into my leased Camry! My car was parked and is pretty ugly now, with extensive damage to driver's side rear quarter panel area including the door and maybe axle. My insurance company says they will handle it, since the driver had no insurance! Has anyone else been through a similar experience? Any advice would be appreciated on dealing with a lease car in this situation. Not sure where to go right now and am concerned about end of lease charges.

    Thanks
  • ed108ed108 Posts: 34
    I was at a Toyota dealer today and was told the residual for a Camry SE is 62% for 24 months and 58% for 36 months. A 4% difference between 24 and 36 months? Something doesn't sound right there.

    By comparison a Honda dealer quoted me a 71% residual for an Accord on a 24 month lease so. 62% on a Camry sounds crazy. Any thoughts?

    This was for 12K a year by the way.
  • jl100jl100 Posts: 3
    My Totoya salesman said that Honda always had better leases in general. Not sure why Toyota is waiting to promote better leases on the Camry, probably because the demand is so high as evidenced by the fact that the local dealer can't keep the Camry's in stock. The residual is probably really that different because Toyota Corp is not pushing the lease on the Camry. Hopefully they will soon.
  • I just found out that there are actually 2 different Tier 1 lease programs offered by Toyota Finance, Toyota Motor Credit, Lexus Financial.

    1. (Tier1 Special Lease Rate Discount )
    Beacon Score 720+ - Zero Sec. Dep. - FL
    The MF(money factor)= .001940

    2 (Tier1 Encore Special Lease Rate Discount )
    Beacon Score 720+ - Zero Sec. Dep. - FL
    The MF(money factor)= .001840

    FYI...I was told directly by a rep at TMC/LFC (Toyota Motor Credit/Lexus Financial Service) that the Tier 1 Encore program is what a previous or repeat Toyota/Lexus customer with a perfect pay history with them should be paying.

    Does anyone know of any other Tier 1 programs or Encore programs for other Tiers that are offered?

    Does anyone know what are the residual values that are being used for:

    36/mo, 12K/yr lease? or 39/mo, 12K/yr lease?
  • Car_Man:

    I am interested in leasing a fully loaded Camry Hybrid (w/Option Combination C). The dealer is charging full MSRP, which is $30,730 (including the $620 destination charge).

    Please give me money factor, residual, and lease payment for 3 years; 45,000 miles. When I calculate this on the Toyota.com web site, it comes to $518/month (assuming I pay the $400 acquisition fee, $500 security deposit, and first payment upfront). I think that sounds a little high.

    Thanks!

    Ernest
  • moolmanmoolman Posts: 122
    I'm in the same situation as the person above so hopefully, Car_Man can help both of us out.

    Camry Hybrid fully loaded. MSRP is 30730 just like the guy above. I want to lease the car for 3 years and 15K a year.

    Anybody have any idea what the best residual and money factor should be from Toyota. I qualify for Tier 1 credit.

    Thanks

    Alex
  • Christostp;
    The Money Factors you have are better than quotes I am getting my local dealer in the DC area on Camry LE's. I'm hearing 0.00295, which is about 7.1%.

    Car_Man and kyfdx:
    Can you shed some light here? What are the Tier 1 Special lease rate MF's for a Camry LE Automatic in the DC area? I have the residuals from the dealer, on paper, but they simply told me the MF. Thanks!
  • mrummrum Posts: 7
    Hi Car Man -

    Do you know of any lease specials on the Toyota Camry SE or LE in Southern California? I am comparing the Camry to the Mercedes C230.
  • I am sorry to hear that someone hit your car, leob1. That's never a fun situation to be in. You actually are lucky that your vehicle is leased though. As long as you have it repaired properly, you won't have to pay any sort of excess wear and tear penalty on it and the bank that you are leasing it through will have to absorb any diminished value that results from it having been involved in an accident instead of you. I have returned a leased vehicle that was hit by someone and repaired properly before, though it was not a lease through Toyota Financial Services, and everything turned out fine. Just make sure that you take your car to a reputable body shop to do the work.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.

    Car_man
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  • 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.
    SDCOBRA
  • DOES ANYONE KNOW HOW TO FIND INFO ABOUT 2007 CAMRY XLE RESIDUAL VALUE FOR LEASES (3 YR, ETC)? ARE THERE RELIABLE SOURCES, TO BE ABLE TO KNOW IF THE DEALER/LEASE CO IS QUOTING SOMETHING ACCURATE? THANKS!
  • 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.

    Car_man
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  • 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)...

    Cheers!!!
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