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2013 and earlier Toyota RAV4 Lease Questions

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Comments

  • sam1978sam1978 Posts: 4
    Toyota Dealer in Boston, MA is offering:

    RAV4 Base 4cyl 4WD Forest Black Pearl with Extra Value Package (17inch Wheels, Roof Rails, Privacy Glass etc); Tonneau Cover; Floor Mats

    MSRP: 24,284 + 6.25% Tax
    Sticker: $22000 (approx)
    Residual: $16,000
    Money Factor: 0.00002 (0.48%)

    Lease: They are offering sign and drive out the door for $0 (no fees, registration, title etc, first month payment etc) then $199/month (inc tax) for 35 Months. They are also throwing in first service @ 1000 miles

    This includes $1000 college discount

    I've done a lot of research and visited a number of dealers, but this seems like a no-brainer?

    Anyone have any thoughts?
  • When negotiating a lease, should you pay taxes up front or in your monthly payments?
  • wooohaaawooohaaa Posts: 30
    edited March 2010
    I think you should never pay more then you have to with a lease. Say the lease is total 6000 over the 3 years. You will not benefit from paying anything up front say you put 1000 down to cover taxes up front you still end up paying 6000 over the 3 years. Yes your monthly payment is lower 1000/36 = 28 dollars less a month but that is just because you paid $1000 bucks down. And in the event the car is totaled next month then you loose the 1000 you just put down. A lease is different from a regular loan in this way. If you put 1000 dollars down payment then the total amount you financed would be less and the total interest paid would be less so there would be an advantage to say pay off taxes on a loan but not on a lease.

    Hope this helps.

    When compairing lease deals you need to have these figures given to you by the dealer. Don't just go by Monthly Payment.

    Length and # miles in the lease: example 3yr/36,000 miles.
    MSRP of the vehicle AND does this include destination charge.
    Selling Price of the vehicle: Price lease is calculated on. This is the most important value and can make a big difference in your monthly payment and tot al for the entire lease. This can be negotiated just like if you were going to buy the car outright.
    Cash due at signing: This should be as close to ZERO as you can get.
    Tax rate for your address
    Money Factor of the lease
    Residual Value of the vehicle at lease end: Usually a % depending on trim level and # miles in lease. GET EXACT NUMBER from dealer and ask how they calculated it.
    Acquisition Fee to lease vehicle: Toyota charges 650
    Diposition fee to return if you do not buy the vehicle: Toyota Doesn't charge this

    List all this or call dealer and tell them to give you ALL these figures and I can work out what your payment is and if it is a good deal or not.
  • ksuh2000ksuh2000 Posts: 5
    big_al_nyc,
    How did you get this deal? I just signed a lease deal on 2010 RAV 4 Base for
    275 per month including tax, registration and GAP ins with 0 money down in NJ.
    36mos/36000miles. I have not picked the car yet b/c they haven't got it.
    Your limited RAV4 has much higher MSRP but the payment is jus little over mine.
    Is it possible to walk away from the signed contract since the vehicle has not been picked up?
  • ksuh2000ksuh2000 Posts: 5
    Does your quote on 179/month with 1,299 down from Westchester Toyota include tax, title and aquisition fee? or you have to add to the monthly payments?
  • Hi

    For the benefit of all, do these numbers look ok for negotiating a Lease on a
    Base 2010 Rav4 Base 4x4 4-cyl 4-speed Automatic ($23075)
    + EVP ($120)
    + Carpets ($199)
    + $800 dest Fee
    ==> Total MSRP : $24194
    ==> Edmunds TMV Price : $22,618
    ==> Incentives : - $1000 (College Credit)
    ==============================
    Negotiated Or Sale Price = $21618
    ==============================

    Acquisition Fee : $650
    Sales Tax : $1131 (5% of $22,618)
    Dealer Processing Fee : $379
    GAP Insurance : $350 (I am not sure exactly)
    ===================================================
    Total Cost : $21618 + 650 + 1131 + 379 + 350 = $24128
    ===================================================

    Residual : 0.69 of MSRP = $16,694
    Money Factor = 0.00001 (0.24% APR)

    So, that's around $196/month with 0 money down + Title and Registration fees (which is around $250)

    Does this seem right?

    $196/month for 36months + 250 = $7312 (With $1000 college credit)
    OR
    $179/month for 35months + $1299 = $7565 (pretty close, but this should include $1000 college credit)
  • Residual is high
    Money Factor is pretty much nothing

    Wow, this is a very very good deal. I am not in the market for a new car, but I always follow the new car industry. Do I dare say this is the best lease deal in years......?????

    Remember folks, Toyota is hurting. Always fight for a better deal because they aint selling their cars to anyone right now.
  • evahnulahmevahnulahm Posts: 17
    edited March 2010
    Hello everyone, I am just wondering why everyone seems to be getting awesome residuals and MF rates. I called some dealers here in south carolina and I am getting MF of .00053 and residuals of like 52% on a V6 Limited (MSRP 29800), lease payment of 299 with 3348 down which includes tax tag and title. This doesnt seem like a good deal at all. Am i missing something that I should be asking about?
  • bigdeegbigdeeg Posts: 1
    I've been doing a bunch of research for the same in the Boston area and this sounds like the best deal yet. What dealership did you get this quote from?
  • nyigornyigor Posts: 4
    Hello Car_Man,
    I am looking to lease 2010 Rav4 Fwd Sport Base in Florida.
    What would be money factor/residual value?

    I am currently leasing 2007 Rav4 AWD Base ($299 a month, few months left) and I hear about very good deals.
  • sam1978sam1978 Posts: 4
    It was Herb Chambers in Boston (Brookline) on Brighton Ave.
  • Based in Los Angeles - Rav4 Sport 2wd, Gray exterior, V6, Sports Extra Package, black leather interiors, tow package, back up monitor, cargo mat/carpet - $336 a month lease for 3 months @ 12K miles a year. $500 down. $3k on trade in that paid off balance on old car loan. Good deal?
  • verdi942verdi942 Posts: 304
    Wow! Is that the best they'll do? I guess that's what happens when the RAV4 doubles its sales from a year ago. That deal is as expensive as what they were charging back in late 2007! But, hey, it's a good car.....
  • vico9vico9 Posts: 1
    edited April 2010
    Hi every one ,Thanks to everyone's information on here,
    Please, tell me if this is a good deal,dealer claim they are in short supply of this car.
    the best deal i was able to make.RAV4 V6, Base Silver
    TOP $1500, 36 month lease, 15 K per yr, $246 a month including taxes in NY.
  • grotto1grotto1 Posts: 1
    edited April 2010
    MF .00001
    Res.: 63%
    $325/mo incl. tax for a 36m 12k lease.
    And they added the XM radio.
  • thanks for the feedback.
  • toast2toast2 Posts: 6
    Spoke with sales person and they said the MF of .00001 or .00002 ended last month.
    Current MF for 12k is .00060 (sport & limited)
  • toast2toast2 Posts: 6
    MSRP $30,564
    MF .00060
    RES dont know
    They are paying $3300 off on my trade in (VW lease return that i'm 20k over miles)

    36mo 12k
    Down $2499
    Monthly 376 + 39 tax = $415

    Im pretty sure there's still some room for negotiating - any thoughts...
  • tstockatstocka Posts: 1
    What dealer did you get your Rav4 from? This seems like a great deal. I live in NE Ohio as well and plan to go seem some dealers this weekend.
    Thanks for your help
  • bmwk75sbmwk75s Posts: 18
    Here's the deal I've worked out.

    Rav4 Sport with extra value package and carpet floor mats.
    MSRP $26,244
    Sale price $25,000
    MF .00060
    Residual $17,299
    Tax 7.75%
    $500 returning Toyota Loyalty Certificate
    Payment $268 with 0 down

    What do you think?
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