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2013 and earlier Toyota RAV4 Lease Questions

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  • jnuzzijnuzzi 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 Posts: 38,515
    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • brandenbbrandenb 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
  • 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 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.
  • 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 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 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
  • 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! :)
  • 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 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.
  • 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 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 Posts: 3
    atlantic toyota. speak to joe h tell him elliott sent you.
  • ykckbyykckby 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 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.
  • 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 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.
  • 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 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 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.
  • 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?
  • 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 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 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.
  • 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 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.
  • 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 Posts: 28,492
    If you won't buy premium fuel, then you shouldn't get a turbo-charged vehicle..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • 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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