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Toyota RAV4 Lease Questions

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  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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 Posts: 330
    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 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!
  • 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 Posts: 1
    does anyone know the current money factor and residual percentage on a 2008 rav4 sport in the mid atlantic? thanks
  • poet663poet663 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 Posts: 7
    Any know the current Money Factor and Residual for the RAV4 4WD Sport?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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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    Prices Paid: Buying & Leasing Experiences Forum
  • asalliasalli 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 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 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 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%.
  • 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 Posts: 11
    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 Posts: 38,518
    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 Posts: 13
    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 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.
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