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2013 and earlier Toyota RAV4 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi verdi942. The best way to get a good deal on the new RAV4 that you want is to negotiate as low a selling price as possible on the exact model that you want and then have the dealer that gives you that price calculate your monthly payment using its buy rate lease money factor.

    I am not intimately familiar with what the market is like for the RAV4 in New York at the moment, but you are in an area that has a good level of competition. If I was in the market for this vehicle in your neck of the woods, I personally would shoot for a selling price of around $500 over dealer invoice or so. Make sure to stop by the "Toyota RAV4 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar vehicles lately.

    As I mentioned earlier, once you arrive at a selling price that you are comfortable with have the dealer that you are working with calculate your monthly payment using Toyota Financial Services' buy rate lease money factor. I don't believe that Toyota is currently providing any lease support on the 2008 RAV in your area. As a result, if you were to lease one through TFS right now, you would have to use its standard lease money factor. This number varies slightly by region, but it should probably be around .00285 for consumers who qualify for its top credit tier right now. Toyota is providing lease support on the '07 RAV in its the New York region. Its special buy rate lease money factor for the '07 RAV4 in your area is .00204 for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, friendlyleaser. I don't believe that Toyota is currently providing lease support on the 2008 RAV4 in your area. If that is the case and you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor. TFS' current buy rate standard lease money factor may vary slightly by region, but it should probably be around .00285 or so for consumers who qualify for its top credit tier.

    The residual value for a 36 month lease of a 2008 RAV4 4WD with 15,000 miles per year is 57%. The problem with this resid is that TFS only publishes residual values for base vehicles without any options. It places restrictions upon what options can be residualized. The calculation of actual dollar residual values for vehicles that are leased through TFS is so complicated that Toyota provides its dealers with a list of the actual residual values for every unit that they have in stock rather than just having them use the percentages to calculate residual values like most other banks do.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings boholano. The best way to tell if you are getting a good deal on a leased vehicle is to look at its MSRP and selling price. These numbers show you how much of a discount you are being given. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible selling price on the RAV that you want and then have the dealer that gives it to you calculate your monthly payment using its buy rate lease money factor.

    I don't believe that Toyota is currently providing any lease support on the 2008 RAV4. That means if you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor. Its buy rate standard factor often varies by region, but it is probably currently around .00285 for consumers who qualify for its top credit tier. Toyota is providing lease support on the 2007 RAV in your area right now. TFS' buy rate for the '07 model is currently .00171 in its Central Atlantic region for consumers who qualify for its top credit tier.

    Car_man
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  • shell2007shell2007 Member Posts: 1
    Warning: I am brand new to Edmunds and fairly naive when it comes to car shopping! I am very interested in leasing a '08 RAV4 and I was offered the following lease deal:

    Toyota RAV 4 - (base model - 4 cylinder) - OH dealership
    2WD: $322.00/mo lease
    4x4: $324.00/mo lease
    $341.00 down
    36,000 miles

    I am turning my current leased vehicle in at a different dealership & it is not included in this deal.

    I am a lease person that will turn in the vehicle at the end of the lease and get something different. I have no plans to buy it out at the end.

    This sounds like a great deal to me -- but I am worried after glancing through some of the Forums. It sounds TOO good. Anything I could be missing???
  • steevosteevo Member Posts: 389
    Anyone have the MF and Resid for 24/36 month leases this month with 15k per year? Toyota is advertising so maybe there is now support?
    THanks!
  • verdi942verdi942 Member Posts: 304
    Toyota generates those numbers on a daily basis for each individual vehicle. The dealer will download and print it out. Ask to see it. I saw such a list when I negotiated my 15K lease a few months ago. Note that, cheesily, Toyota asks $6.00/mo for the gap insurance. Good luck!
  • klevinefklevinef Member Posts: 1
    I leased a 2007 Rav4 in June 2007 in Charlotte, NC. I have very good credit and was given a rate of $2,000 down, $400/month, 48 months. I got the lowest end Rav4, I believe--it's a V4, no 4WD, nothing special inside, no upgrades whatsoever.

    Someone asked me what I pay for it the other day and was extremely surprised when I said $400. When I googled this forum came up and I saw that most other people were getting quotes closer to 250/300, with less down, and shorter leases.

    What can I do if I got a terrible deal? I'm a young female and am starting to wonder if I was taken advantage of.

    The only thing I know is that right after I leased the car it was sold to someone else? I'm not sure what it meant--it was a letter saying that the lease had been sold to someone/someplace in Alabama or something.

    Is this lease completely out of wack? Is there anything I can do if it is?

    Thanks for any advice!
  • okchicokchic Member Posts: 1
    does anyone know the current money factor and residual percentage on a 2008 rav4 sport in the mid atlantic? thanks
  • poet663poet663 Member Posts: 4
    Hi everyone. Normally have bought cars and kept them for a long time, but leasing for the first time. Interested in a RAV 4 Limited V6 with Option Package C and Blizzard Pearl paint. In Bellevue, WA I'm coming up with about $476 per month for a 36-month, 12,000 mile per year lease (based on agreed upon value of vehicle of $29,200). I suppose I can take the assignment fee and Gap insurance cost out of this too...

    Money factor is .00245 and residual is 55%.

    Feedback? Thanks...
  • budahkanbudahkan Member Posts: 8
    Any know the current Money Factor and Residual for the RAV4 4WD Sport?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi budahkan. Toyota's lease program for the 2008 RAV4 varies by region. In some regions, its buy rate lease money factor for this truck is as low as .00144. While in others it has no lease support on it at all, causing consumers who want to lease one to have to use its standard lease money factor of around .00235. If you let us know what state you are in, either myself or another knowledgeable community member may be able to give you an idea of what the RAV's current program is like in your area.

    Car_man
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  • asalliasalli Member Posts: 1
    I live in South Florida and am interested in leasing a 2008 Limited 2WD V6 Rav4. Do you know what money factor I should be looking for? Also, residual? I'd like to do a 36 month lease with 12K annually, though am considering 15K as well.

    New to leasing so any info is appreciated. Thank you!
  • ggmichaelggmichael Member Posts: 2
    I am looking to purchase a RAV4 with V6, 2WD, Limited trim package with 12,000 miles (maybe 15,000 miles) 36 month lease. What is the current money factor and residual in Houston, Texas area. Thanks very much.
  • lishafislishafis Member Posts: 3
    Hello Car Man,
    I live in NY and just leased a Rav4. I wanted to post the details and find out how you think I did on the deal:

    Vehicle:
    Toyota Rav4 model 4432
    Base trim 4wd 4 cyl
    Options:
    Roof rack
    Daytime running lights
    Fifty state emissions
    Floor mats
    Cargo nets/cover

    My lease payments are $239.00 and I paid a total of $3,097.97 which includes all taxes and fees and first months lease payment. My money factor was 0.00144 and my residual is $14,275. Of the cash out of pocket they put $2,035.00 to reduce the Cap cost.

    Did I do ok?

    Lishafis
  • ggmichaelggmichael Member Posts: 2
    I just purchased a RAV4 with V6, 2WD, Limited trim package 36 month lease (12,000 miles, but 15,000 miles had the same money factor) in Houston, TX and the money factor was .00001 and the residual was 55%.
  • gobeavs1979gobeavs1979 Member Posts: 1
    I would like to lease a 08 Rav4, base model 4x4. I live in Oregon. I am not in a hurry but would like to know if there are going to be any lease incentives or cash back incentive to lower my lease payments in July or August 08. Would like to pay no more than $1000 up front and around $300/month, would this be possible?
  • thezeddthezedd Member Posts: 12
    Car Man,

    Since GA and TN are in different dealer groups, the finance rates differ. What is the MF and residual for a RAV4 Limited with 15K/yr in Georgia and Tennesee?

    Thanks,
    Zed
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Zed. Georgia is in Toyota's Southeast region. I have not seen Toyota's current lease program for that part of the country. However, I believe that Tennessee is in Toyota's Cincinnati region. If so, I can give you an idea of what the current lease program for the RAV4 is like there. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Toyota RAV4 4WD with 15,000 miles per year are .00142 and 61%, respectively for consumers in its Cincinnati region who qualify for its "Tier 1+" credit tier.

    Keep in mind though that TFS places restrictions upon what options can be residualized. This makes it very difficult to calculate the actual dollar residual values for vehicles, so much so that Toyota provides dealers with lists of the residual values for the units that they have in inventory instead of having them calculate them on their own. As a result, it is difficult for consumers to estimate what lease payments should be on Toyota models.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • daddyjakesdaddyjakes Member Posts: 14
    Car_man

    What is the current MF for an RAV4 Sport in the NY/NJ? Would I do better to wait till July or August, or is it impossible to predict?

    Thanks
  • eclaixpeclaixp Member Posts: 46
    Hi, I am in South Florida and looking to purchase a Base RAV4 with V6, 2WD, with 12,000 miles / 36 month lease. What would be the current money factor and residual? Thank you in advance.
  • jnuzzijnuzzi Member Posts: 39
    Hi,

    I am looking to find out the money factor and residual value for a 36 month 15,000 mi/yr lease on a RAV4 Base 2WD in Orlando, FL.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi daddyjakes. Toyota Financial Services' current buy rate lease money factor for a 36 month lease of a 2008 RAV4 in its New York region is .00133 for consumers who qualify for its Tier 1+ credit tier. It is difficult to say what this truck's lease program will look like in August, but if I had to guess I would say that it will be pretty close to what it's like right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • brandenbbrandenb Member Posts: 12
    Hello,
    I am looking for details on what you hear about what ChicagoLand Toyota dealers are offering for the Rav4. Wife is looking at the 4WD, 4cyl. LTD, 10Kmiles and 36 mo's. Let me know if anyone has what is being offered for money factors and residuals?
    Thank you
  • bobbyrutgersbobbyrutgers Member Posts: 11
    36 month Lease: 2008 base Rav4, 4x4, 4cyl, auto

    $2200 at signing (includes all fees and taxes)
    $270/month x 35 months

    total expense = $11,650

    This is the "final offer" I have gotten from a dealer that I've been negotiating with back and forth over email. I was trying to get that total expense number closer to about $10,000.... is that unreasonable? Any and all feedback is much appreciated! :-)

    BTW, i've been reading this forum for a while now and i must say THANK YOU to everyone for posting all your numbers... it really helped me figure out if i was getting hosed or if i was being offered a competitive price on all the offers I received from about 15 dealers in the central NJ and north NJ area. I am in the north NJ area, but am willing to travel anywhere in NJ, Philly, NYC, Long Island to get a better deal.
  • bohdybohdy Member Posts: 15
    I live in MA and just leased a RAV4 V6 4x4 Limited with an MSRP of $29,054. With zero down and paying only the first month payment and registration fees at closing, I'm at $325 a month for 36 months at 12k per year.
  • bobbyrutgersbobbyrutgers Member Posts: 11
    That's an EXCELLENT deal bohdy...
    You must be one hell of a negotiator!! How'd you get them to agree to that?
    Congrats and enjoy the ride!
    :)
  • bohdybohdy Member Posts: 15
    Thanks for the compliment, Bobby. Do you know how to find current Toyota incentives for your area on the Toyota web site? I just looked at the tri-state area and I figure even without negotiation you should be able to get a base RAV 4x4 with MSRP just over $24k for around $300 with no money down, 12k per year (i.e. all costs in the payment except 1st month payment and registration fees). You NEVER want to put money down. Why give a lump sum of any amount now if you can spread it out over 36 months? If I were you, I'd call the various dealerships in your area, tell them EXACTLY what the MSRP is of the vehicle you want and EXACTLY the terms you want. If you specify the SAME WITH ALL DEALERS, you'll find who wants your business and they will be the ones giviing you the best deal. The end of the month is the best time to negotiate (quotas you know), but you may want to get a baseline figure now. Good luck, let us know how you're doing! (I'm no expert, the preceding are just my opinions and suggestions).
  • eshjemeshjem Member Posts: 3
    well i got this deal. the rav 4 limited edition 4 x 4 4 cylnder fully loaded with leather.
    no money down sign and drive. taxes in payment
    first months up front plus dnv tags

    36 month lease
    $355 a month
    i think i did good here on long island
  • bobbyrutgersbobbyrutgers Member Posts: 11
    eshjem,
    that sounds like a solid deal, good work... Can you tell me what salesman/dealership you used in Long Island? (i'm nearby, so might drop in for a visit). thanks! :)
  • elizabeth15elizabeth15 Member Posts: 16
    Hi,
    I'm in Denver, CO and am looking to lease a base model Rav4 4x4.
    Right now Toyota is giving $500 cash back so this price reflects that. I need help- bc this doesn't seem like a good deal! Is it? Thanks!

    36 month lease/ 12k year
    MSRP $24494
    INVOICE: $22698
    $0 down
    $328 + tax ($355/month)
  • bohdybohdy Member Posts: 15
    It doesn't look like there are any lease specials going on in the Denver area at this time, only the $500 cash back you mentioned. Looks like there are a lot of Toyota dealerships in the Denver area. I'd check them all and see who's willing to go BELOW invoice (yes, it can be done and they're still making a profit). Mountain States Toyota for instance has 58 2008 RAV4s. I'm sure they'd like to sell a few. Good luck.
  • elizabeth15elizabeth15 Member Posts: 16
    Thank you for the reply. I called Mtn States Toyota and got the following for the 4cyl:
    MSRP $24494
    INV (w/ $500 rebate) $22198
    $0 down
    36 months at $317 + tax

    sorry but what do i ask them to go below invoice?
    i was also looking at the CR-V which has a lower MSRP yet has the same monthly payments. Do you prefer one over the other?
  • bohdybohdy Member Posts: 15
    Both the RAV4 and CRV are excellent vehicles...it's your preference. To the best of my knowledge, the CRV doesn't have a console. Also, the spare tire is not on the rear hatch like the RAV. I'd offer the Toyota dealership $312 WITH tax (I assume you're negotiating for 12k per year). Make sure that payment includes EVERYTHING ELSE such as acquisition fee, transportation, documentation/prep fee, etc. Just simply ask them if everything is included. I always lease my vehicles with everything included in the payment except for the first month payment and vehicle registration fee. Just another small note...color choice. The base RAV will have black door handles and outside mirrors. If for instance you pick a white RAV, those handles and mirrors stick out like a sore thumb! It probably wouldn't bother some people, but it's something to be careful of, you'll be living with it for 3 years! Keep us advised on your progress.
  • eshjemeshjem Member Posts: 3
    atlantic toyota. speak to joe h tell him elliott sent you.
  • ykckbyykckby Member Posts: 30
    Bohdy...I'm looking to possibly lease a V6 AWD with leather etc and in MA. I noticed you did so recently. Could you share with me where you are in MA and, did you go to a dealer or do it first through internet. Was looking to buy a CRV but the price on a 3 year lease on a RAV4 is pretty attractive. I would need 15k and 3 years. Do you know where I can find the residuals and mf for that?

    Thanks
  • bohdybohdy Member Posts: 15
    Lease deals on the RAV4 are the same this month as they were last month and I don't think they will get any better next month. I believe the current money factor is .00105 tier1+ and .00115 tier 1. Residual for 12k per year is probably around 59% and for 15k probably mid to low 50's. The MSRP on the vehicle you're looking for is around $31,244 (but you probably already know that!). I live in central MA. Click on my user name and email me directly. I can be more specific with names, numbers, etc.
  • elizabeth15elizabeth15 Member Posts: 16
    Hi Bohdy,
    So the lowest they'll do is $308 + tax. And thanks for the tip on colors which I've been struggling with because they're all pretty bad. They seem like high gloss.

    Anyway, I have one last question for you. I was all set on the 4cyl but am being told by colleagues here that I MUST get the 6 since I'm living in the mountains- that going over passes in the snow with the 4 will be brutal. I just moved here from NYC so I don't know these things! I was going for the 4 mostly bc of price and not mpg. What do you think?
  • bohdybohdy Member Posts: 15
    Elizabeth,

    The V-6 is quite an engine in this vehicle...268 horsepower, approximately the same horsepower as a 4Runner V-8! Very zippy, and probably will get you only one or two miles less per gallon. Probably not a bad idea to go with that if you can COMFORTABLY afford it...you don't want your lifestyle hindered by a monthly payment that's not affordable. Keep in mind that a RAV with a v-6 is probably going to have an MSRP of mid $27k. What you really have to do is determine how much you can comfortably afford and then shoot for that vehicle. Just for the heck of it, you may also want to price a v-6 Sport or Limited. A lot of the options in those are residualized which means they're worth more at the end of the lease which helps with your payments. And don't forget, don't just price at one dealership, try at least three (don't be shy about pricing by phone). Be sure to let each dealership know that you are a serious buyer and make sure you give them all the same MSRP, you know, apples-to-apples, and make sure everything is included in the payment. Keep us advised.
  • hillybillyhillybilly Member Posts: 5
    I just got the lease signed for the RAV4.

    At first, I tried Burien Toyota. The salesmen were playing good-cop bad-cop, the price was too steep. I frustrated and gave up.

    Surprisingly, When I submitted a lease quote request from Doxon Toyota (Susie) and Toyota of Puyallup (Joe) and they were very co-operative. No selling pressure at all. Indeed, they were very helpful explaining the break-up. The wholesale Fin Res is removed, bought the vehicle. No pressure in selling Gap insurance, rock-chip protection. When I decided, I did not really have the heart to tell the other salesperson - a very strange buying experience. Highly recommend any one of these.

    There were a few options already in the vehicle - roof racks, bug deflector, Rear Bumper Applique. Added after market leather seats. 260/month.
  • bohdybohdy Member Posts: 15
    It's really sad how some dealerships/sales people have to play games. Even sadder, many customers get caught up in these games. Nice to see that you found some decent sales people. Good luck with your new vehicle.
  • godwheelgodwheel Member Posts: 25
    HillyBilly,

    Can you provide us with numbers on how you got the $260/month? What was your selling price and otd price? Any down payment? How many miles? Was it a 4cyl? Base model?

    Thanks $260/month sounds like the ideal monthly price for me so I'm interested to see if I can get a similar deal.
  • epmorrisepmorris Member Posts: 4
    I'm negotiating a lease for a RAV4 Limited in northeastern MA with MSRP of about $27010. With no money down, (but paying the first month up front) what is the right lease price?
  • elizabeth15elizabeth15 Member Posts: 16
    OK so the price I got on a base model v6 is $332+ tax which with the tax is more than I wanted to spend. The more I talk to people, the more I feel like I should get the v6 to get over the passes here. what are your thoughts? also does $332 sound like a good price for the base model v6? i looked into the Sport but it's out of my price range. thanks again for your help!
  • bohdybohdy Member Posts: 15
    12k per year I'm assuming? In MA, I'd shoot for anywhere between $300-315. Offer $300 with tax, first month and registration up front. Definitely not over $315. It's the end of the month, I'm sure they'll want to deal. Good luck.
  • bohdybohdy Member Posts: 15
    Elizabeth,

    I looked into the lease money factor in your area and percentage-wise it comes out to a dismal 6.36%. In MA, it's around 2.50%, a big difference. That's why you're not getting any real good quotes. They are offering $500 off your best deal. So, if you take Mountain States Toyota RAV4 stock # 86043151 at a MSRP of $26,769 and subtract $500 you're down to $26,269. The dealership should give you at least another $1,000 off bringing you to $25,269. After doing all the math , I think you're doing OK considering Toyota isn't offering any lease specials. However, I'd make another attempt to squeeze them a little more. And make sure that price includes everything except your first month payment and registration. Don't sign anything unless you read it thoroughly! Also, have you gotten another quote from another dealership? That's the only way you'll know how good (or bad) a deal you're getting. Good luck.
  • elizabeth15elizabeth15 Member Posts: 16
    Hi Bohdy,

    I have gotten quotes from a few dealers. Mtn States and Boulder Toyota were the most competitive by far. Boulder Toyota was significantly lower than Mtn States on the 6cyl which is making me think I should take that deal. I drove the 4 cyl over 60 and felt like I was in a wind tunnel- it was really loud. I read that the '09 models are coming out in Sept- is it worth waiting either to get a better deal on the '08 or to get a spruced up '09? (it looks like they got rid of the black door handles on the new models and made a few changes to the interior besides putting the tire inside).
  • bohdybohdy Member Posts: 15
    Elizabeth,

    You're correct as to how the '09 RAV4 will have changes to both the interior and exterior. However, the spare tire is gone only on the upper level models with the V-6 (according to a Google I did on the 2009 RAV4). More than likely, you won't get as "good" a deal on the '09 because it's a new model year. The other thing you could do, and it's risky, is wait until Sept. 3 when Toyota rolls out their "specials" for September. The residual % at that time will be lower on the '08, but that's the gamble you'd be taking. If you're comfortable with the quote from Boulder, I'd suggest you seriously consider taking the deal. As they say "the ball's in your court"! Good luck.
  • elizabeth15elizabeth15 Member Posts: 16
    Hi Bohdy,
    I still haven't pulled the plug on the v6 Rav4! combo of the price and the cheap feeling interior is making me hesitate. I drove the '09 Subaru Forester XT and it seemed like a good option as well. What do you think of that engine compared to Rav's v6? also what are your thoughts all around about that car? the quotes I've gotten are all in the same ballpark as the Rav4. Also, I wouldn't put in premium fuel which is recommended- not sure how that will affect the turbo.
    thanks for your help!
  • kyfdxkyfdx Moderator Posts: 234,739
    If you won't buy premium fuel, then you shouldn't get a turbo-charged vehicle..

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  • elizabeth15elizabeth15 Member Posts: 16
    Ok I just did the math and it's absurd not to get a car bc of the premium fuel- it wouldn't cost me so much more.... if the car is superior, I would get it. Do you have any preference of one over the other?
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