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2013 and earlier Toyota RAV4 Lease Questions

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  • benji123benji123 Posts: 61
    Car_man,

    Can you please give the LMF and residual % for the 2006 Base and Limited models (24 & 36 months)? Thanks!

    Ben
  • benji123benji123 Posts: 61
    Can you please give the LMF and residual % for the 2006 Base and Limited models (24 & 36 months)? Thanks!

    Ben
  • orange99orange99 Posts: 2
    I am in New York City.

    I recently leased a 4-cyl Sport (with sunroof & 6-cd changer) @ $25,225 for 36 months. MSRP was $25,374. I know I probably could've done better on the selling price, but I look at the monthly payment more than selling price or residual value. I don't plan on keeping the car after 3 years.

    DOWN $1470 (includes first month)
    MONTHLY $405 x 35 (12K miles/year)

    TOTAL $15,645

    I think it's a good deal, but I made them throw in a PREPAID MAINTENANCE CONTRACT (36 MONTHS OF FREE MAINTENENACE) or "NO DEAL".

    This is a good car. I leased 2 Jeep Grand Cherokees (a V8 and a V6) before this. Those were gas guzzlers and just not very good mechanically, American cars just aren't very good. The power on my 4-cyl RAV4 seems to be better than the Jeeps and gas mileage is much better.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi scope. Toyota is not currently providing any sort of lease support on the 2006 RAV4 in your area. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor was .00265 for consumers who qualify for its Tier 1+ credit tier. So the money factor that you were quoted is pretty close to this. It's tough for me to give you my opinion on this truck's cap cost without knowing its MSRP. If you can provide me with this number, I'll let you know what I think. Also, you should avoid making such a large down payment when leasing. If your leased RAV is totaled in an accident or stolen and never recovered during your lease, your down payment essentially disappears.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ben. Normally I would need to know what state you are in to give you an accurate picture of what a Toyota model's lease program is like because its money factors often vary depending upon which one of its twelve regions you are in. However, to the best of my knowledge Toyota is not providing lease support on the 2006 RAV4 in any of its regions right now, so your state really doesn't matter. If you decide to lease this truck through Toyota Financial Services, you will have to use its standard lease money factor. The last time that I saw it, TFS' buy rate standard money factor was .00265 for consumers who qualify for its Tier 1+ credit tier. TFS' 24 month, 15,000 mile per year residual value for a base '06 RAV4 4WD is 70%. This truck's 36 month, 15,000 mile per year residual is 64%. The numbers for otherwise identical leases of an '06 RAV4 Limited 4WD are 68% and 62%.

    Car_man
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  • Hi Car_man,
    My dealership called today to offer a trade-in/early buyout (not sure how to refer to this) as they want my car for their used lot (I'm assuming they have a buyer here). I had a really bad lease (5 yrs/12K miles) - posted back then - should have paid total $12312 total ($342/36 mos)and instead will wind up paying $21900 ($365/60 mos)w/money down and I am already way over mileage so I'm excited about this opportunity. My question is have you heard of this happening before? They would pay off my lease and I would get a new lease - this time smarter - no money down, 15K/yr. I'm looking at the Rav4 Limited - leather, JBL, DL, moonroof. I was wondering what the residual and money factor are on it? Any deals also? Also, what would be a good deal to get back on my car - I'm looking for a straight trade in w/no money out of pocket - do they roll up my unpaid into this or do they truly buy-off my car? I'm also willing to go for either the 2006 or 2007 model. I am planning on going in Monday to talk about this so any help before then would be great. Sorry for the long post.
  • I'm curious. How does the remote engine start work on Rav4? Once I start the engine, does the door open automatically? The dealer is telling me that I should start the engine (remote), then unlock door (which turns off the engine) and then re-start with the key.

    Your help would be greatly appreciated. Thanks.
  • How is the sales tax figured when leasing in NY state, is it based the purchase price of the vehicle or the monthly payments?
  • SUVGAL:
    Don't get too excited on your lease return. While it is possible that they really want your car back, they may just be "prospecting" to sell you a new car. In either case, it is very unlikely that they will end up taking the loss.

    Don't be surprised if they will pay off your old lease, but then roll the amount lost into the cost of your new car. You may end up with no down payment, but a lease that is based on (for example) paying $30K for a $25K car.

    Anyhow, please let us know how it works out.
  • Hi lama88. I am not personally familiar with how sales tax is calculated on leased vehicles in New York, but you may be able to find out an answer to your question by visiting one of the following sites: New York State Department of Motor Vehicles or New York State Department of Taxation and Finance.

    Car_man
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  • shatzishatzi Posts: 15
    I am looking into leasing a 2007 Rav4 Limited 6 Cyl 4WD. The MSRP is $28,555, Invoice $25,878 (which includes leather and heated seats). I live in NY - Long Island. I do not plan on paying MSRP - more like invoice. They have a 2% holdback. What is the best monthly price I could get.

    In 2005, I bought a Toyota Limited 4Runner for a couple of hundred under invoice ($30,717)and am paying $419.73 per month, which I thought was a good deal. In looking over that receipt, I noticed they charged over $1,000 for an acquisition fee - what is the difference between an acquisition fee and desitination fee? Who determines what the acquisition fee is? Also, he charged a rent charge - what is this. How is this calculated.
  • Car_man,

    I am stuck between the Outback2.5i (as a loyal subie owner) and a this truck.

    I was just offered today from a dealer in PA (I AM IN NJ), based on a MSRP of $22,350 and an Sale price of $21,980, of $320/month for 36 months, with 12K miles, and $1623 down (which covers 7% NJ Tax, $400 registration and title fees, and $320 for the first months payment).

    Car_man does this seem like a good deal??

    Thanks,
    ajfitz
  • Car Man what is the 3 year residual and money factor on a V6 AWD Rav4. I am getting pretty good offers from Rockland Toyota in NY. 26,000-27,500 msrp depending on options from mid 300's including sales tax. this is why i shifted my focus away from the Pilot.
  • Hello shatzi. Toyota is not currently providing any lease support on the 2007 RAV4. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. I would be happy to use this program to estimate what this truck's lease payment should be like for you. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you want a 36 month lease with 15,5000 miles per year. I will also assume that you are able to get this truck for $500 over invoice. According to my calculations, if you were to lease a 2007 Toyota RAV4 Limited 4WD with an MSRP of $28,555 and a selling price of $26,378 through TFS right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $381. The problem with this estimate is that TFS only publishes vehicles' base residual values. It places limits upon what options can be residualized and caps on the ones that it allows. If the truck that you are interested in has any options, and I assume that it does, your monthly payment will probably be over $400.

    All banks charge an acquisition fee on leases, however $1,000 is way too high. I believe that Toyota Financial Services' current base lease acquisition fee is only $550. Dealers often try to mark acquisition fees up to add hidden profit to deals, so make sure that you don't pay any more than that. Your vehicle's rent charge is the interest portion of your lease payment.

    Car_man
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  • HI ajfitz. I remember seeing your posts over on the Outback board. Let's take a look at the deal that you were offered on this truck. A base 2007 Toyota RAV4 4-cylinder 4WD has a spread of around $2,000 between its full MSRP and dealer invoice price. You were only offered a $370 discount on the specific truck that you are interested in. In my opinion, you should be able to do better than that. There's lots of competition in your area, you should shop around with a few other dealers.

    Car_man
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  • Here's the information that you're looking for, lawnmower. Toyota is not currently providing any sort of lease support on the 2007 RAV4 in your area. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor. The last time that I saw it its buy rate standard lease money factor was .00285 for consumers who qualify for its Tier 1+ credit tier. TFS' current 36 month, 15,000 mile per year residual value for a base 2007 RAV4 V6 AWD is 62%. The problem with this number is that TFS only publishes residual values for base vehicles without any options. It provides dealers with special lists of what options can be residualized and how much it allows. So this truck's effective residual value is probably several points lower than this.

    Car_man
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  • higushigus Posts: 4
    I'm located in Billings, MT. I am interested in leasing a 2007 Rav4 Limited 6 Cyl 4WD. Loaded with all the features the MSRP is right around $31,000. Assume that I will pay that amount with no down.

    What should I expect to have for a money factor and residual?

    The quotes that I've gotten from my local dealer pn a 36 month lease seem high on the payment ($515) and money factor (.0034) for someone with excellent credit.

    Conversely the residual seemed low at $16500.

    The dealer is saying that Toyota sets the money factor and the residual and he is unable to deal with me on anything. Is this true? Are these values accurate?

    They just don't add up right to me.

    Thanks!
  • Please let me know if we got a good deal:
    06 base V4 rav4 4x4 with 17" steel wheels for
    0 down and 330(all inclusive) per month for 39 month?
  • You're in luck, higus. Toyota just introduced a special President's Day lease offer on the RAV4 in most of its regions. While the special lease money factor that is available through this promotion isn't amazing, it's better than the one that was available before it. this promotion is only available for the next couple of days. I don't recall exactly what the special money factor that is available through it is, but I believe that it's around .00245 or so for consumers who qualify for Toyota's Tier 1+ credit tier. The .00340 money factor that you were quoted is outrageous. You definitely should shop around with another dealer if there is one in your area. Toyota Financial Services' current residual value for a 36 month lease of a 2007 RAV4 Limited 4WD with 15,000 miles per year is 60%. The problem is that unlike most banks, TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized and caps on the ones that it allows. This makes it difficult to estimate what payments on vehicles leased through TFS should be.

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  • I am in Indianapolis, IN and am looking at a 2007 RAV4. It's a base model, list price about 22,500. I want to go in to the dealer and tell them what I want and not haggle. Based on what you know about residuals and money factor, do you think I could get a monthly payment of $300 (plus tax) or less with only first month down? I have excellent credit. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tdmarcum. I have not personally seen Toyota's lease program for the 2007 RAV4 for your area recently. It's difficult to say whether you would be able to get the truck that you are interested in for around $300 per month with nothing down. I have a feeling that it would be close to that, but perhaps slightly more.

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  • dave_h2dave_h2 Posts: 100
    I'm looking to lease a new Rav 4 soon and would like to hear from anyone about any recent leasing experiences.

    FYI - I live on Long Island, NY - and that is where I will be getting the vehicle from. I plan on getting quotes from internet sales managers first, before going in to the dealership and following up that way.

    Any advice would be most appreciated. :)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dave. My advise is to shop around for the lowest selling price that you can get on the RAV4 that you want and then have the dealer that gives you the best price calculate your truck's monthly payment using its buy rate lease money factor. You should be able to get a pretty good price on this truck, given the high level of competition in the New York area. Toyota Financial Services' current buy rate lease money factor for a 36 month lease of an '07 RAV4 in your area, its New York region, is currently .00236 for consumers who qualify for its "Tier 1+" credit tier.

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  • dave_h2dave_h2 Posts: 100
    Thanks for the money-factor number, Car Man.

    Any chance someone could go into Santa Fe Lease Questions topic and provide similar information? The tumbleweeds in there are beginning to worry me.
  • jerhotjerhot Posts: 27
    Hi Car Man,

    I am looking to lease a base RAV4 automatic with 4 cyl engine. With alloy wheels, roof rack, daytime running lights, and destination charges, the base MSRP goes from $20,950 to $22,415. The invoice for this is $20,679. Can you please give me the money factor and residual value for a 3yr./12k lease? Please use the May numbers!

    Thanks!
  • raveebraveeb Posts: 5
    Hi Carman,

    I am plannig to lease a base model RAV 4 , 4 WD with follwoing options:
    AM/FM/6 cd changer
    Carpet floor mats
    DRL
    The TMV price is : $21,769.00 and the invoice : $21,165.00
    Its a 36 motnhs lease, 12000miles.
    What should be my montly payment with zero down..please help me .
    Thanks
    Ravee
  • Car_man- I intend to acquire a 2007 RAV4 Limited V6 4x4 with most popular options. MSRP will be in the range of 28,000, Invoice ~26,000, TMV = 26,600. Location = MI.

    Assuming 15,000 miles per year, 36 month term and a residual of .59 (.62 minus lesser residualized options), what should be the pre-tax cost of the prepaid lease?

    I assume the money factor is close to zero in this case, right?

    Kind regards,
    Fin
  • haewallihaewalli Posts: 19
    I was wondering if there is any new lease data info on Toyota Rav4's.

    I see on television that there have been some commericals promoting leases on Rav4's.

    Has the residuals and money factors changed now that it is the month of May?

    Are there any new incentives?
  • shatzishatzi Posts: 15
    Car Man,

    Thanks for responding. I am now about to look at a Rav4 4WD Limited lease as Toyota is willing to take my 4Runner back early. I am looking at a 3 yr lease, no money down, 15K miles per year. I am interested in adding in the leather heated seats and possibly the JBL sound system. I have an appt. w/the sales manager next Saturday. Any advice you could give me would be appreciated.

    According to Edmunds, the invoice price w/the options for the 4 Cyl is $24,707 and $26,449 for the V6. This does include the destination charge of $645 and a regional adjustment of $176.

    Thanks.

    BTW: I live in Long Island, NY if that matters.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, dave_h2. I believe that I hit the Santa Fe leasing discussion the other day so I've hopefully answered your question already.

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