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Toyota Sienna Lease Questions

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  • Hi jrm005. Toyota's lease program often varies depending upon which one of its twelve regions one is in. You never mentioned what state you are in, but the most widely available special money factor for the 2009 Sienna right now is .00158 for consumers who qualify for Toyota Financial Services' top credit tier.

    Car_man
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  • I am looking to lease a 2009 Sienna LE in Ohio for 12,000 miles for 36 months. Can someone tell me the Residual Value Percentage and the Money Factor so that I may calculate a ballpark lease payment.

    Also, should I use the "TMV Price" or the MSRP from Edmunds.com with either BEFORE or AFTER any incentives to calculate the net capitalized cost?

    Thanks in advance.
    RedBlueFish
  • Definetly replace it yourself, I have leased 6 vehicles in the last 15 years and that and tires are the first things they look at.
    If you have to pay dealer list for a windshield it will probably be double what you would pay to have an independent glass installer come to you and fix or replace.

    Trust me on this one.
  • I am in North Carolina. Has the MF or residual changed for February?
  • Following are my lease details. Carson Toyota on 02/09/09.

    Sienna XLE
    Option Package #4
    Slate Metallic

    MSRP: $34,950.00
    Cap Cost: $31,482.00
    Residual: $15,349.00
    Money Factor: 0.00158
    Drive Off: $886.61
    Term: 36 mos
    Mileage: 12,000 / yr
    Pre-tax Payment: $541.21 / mos
    Payment w/Tax: $585.86 / mos
  • Hi RedBlueFish. Here's the information that you're looking for. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Toyota Sienna LE with 12,000 miles per year in its Cincinnati region are .00158 and 48%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult tor consumers to calculate the actual dollar residual values for specific vehicles.

    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 price on the '09 Sienna that you want, ideally one that is as close to dealer invoice as possible, and then have the dealer calculate your van's lease payment. Toyota's current customer cash incentive on this model is not compatible with its special lease program.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • isinghisingh Posts: 13
    My 2006 LE's lease is coming up in a couple of months. Just visited a couple of dealers and was flabbergasted by the current residuals and money factors. I leased the 2006 LE with one power door, garage opener etc with 0 drive off - $338/month including california taxes. The same car today will cost me more than 475 a month? The residuals have been lowered from 60% in 2006 to 45% in 2009. The money factors are terrible!

    I don't get, in this economy, while this dealer has an inventory of over 80 siennas on the lot, they are trying to sell me the same car for 50% more than what I pay for it right now? What in the name of *#&$*#&$ is going on?

    Anybody have any explanations for this? Any strategies other folks in the group have used?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi isingh. As I said in a recent post, major recessions are like Chuck Norris to the value of used vehicles. The problem is that the vehicles that banks leased several years ago are coming back today worth nowhere near what they estimated they would be. These residual value losses are costing banks millions of dollars. The banks that still lease vehicles, many like GMAC and Chrysler Financial have pulled the plug on leasing completely, are being a lot more conservative in their residual value estimated. Since the estimated depreciation accounts for a huge chunk of lease payments this phenomenon is causing leasing to become more expensive at the absolute worst time for manufacturers and dealers, compounding their sales woes.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • hi Car man:
    The latest promo from Toyota for an LE Sienna is very expensive.
    369 per month with 1999 plus first months payment. Does not include tax.
    Can I find a better deal ? Also looking at a Honda Odyssey trying to find a great
    Minivan and not spending more than 350 with no money down. I have a 2005 Odyssey that is an EX-L with DVD for 400.00 per month no money down. Thanks for your help,
    tradermom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey tradermom. Savvy consumers who are in an area that has a decent level of competition can almost always negotiate a lower selling price on the vehicle that they want, and in turn a lower monthly payment, than manufacturers' advertised deals.

    The Honda Odyssey might indeed be a little less expensive than the Toyota Sienna to lease at this point. You definitely should check it out. The only other minivan out there that has a decent lease program available on it that comes to mind is the Volkswagen Routan, but it probably won't be any cheaper than the aforementioned vehicles.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • drew27drew27 Posts: 1
    Wondering if anyone has any insight: my 2006 Sienna LE with 20,000 miles is coming off lease at the beginning of August. The lease is held by USBank, which has quoted a payout of $15,816 if I want to keep the car. Checking online price guides, this seems ok. Does anyone have experience trying to negotiate a lower price? If so, any effective techniques that work? Thanks for any insight.
  • glebedinglebedin Posts: 2
    Car Man, please help on this lease offer. (36 months/ 12k) $466.42 +7% tax = $499.07

    Cash Rebate $800
    Inception Fee $1621
    Total Cash $821

    Original MSRP $32567
    Maximum Adv $36518
    Resid 46% $14980
    Mileage Adj+1% $325
    Adjusted Res $17401

    Dealer Cost $28497
    Selling Price $28747
    Price Adjust $821
    Adjust Sell Price $29568
    Assignemnt Fee $695

    Total Cap Cost $30263

    What do you think about this deal?

    thanks for your input.
  • mscottymscotty Posts: 1
    Is the residual set by Toyota or buy the individual dealerships? I'm in Rochester NY, and a dealer told me the residual is about $12k...that seems ridiculous, since there are no 3-year old used Siennas on the market for anything close to that low. Just wondering how much bargaining room I have on that - more if it's his number than if it's Toyotas, I imagine. Thanks!
  • sagideg1sagideg1 Posts: 1
    Hi Car_man,

    could you please post July money factor and residual for 2009 and 2010 Sienna XLE AWD on 36mo, 12,000 miles lease?

    thank you in advance
  • daniel44daniel44 Posts: 1
    Toyota Sienna 2006 lease is up in Aug; Trying to buy it but everyone
    has a different answer. Bank says used. TFS says new. Dealer doesn't
    want to bother. Should I just extend lease?
    Daniel44
  • isinghisingh Posts: 13
    I had the same experience back in may although I was trying to lease a new one. Here I am, sitting at the dealership, asking to lease a car the same day. They had the worst lease rates, no incentives to take the car back and on top, would only give me the repair estimates AFTER I returned the car. Couldn't believe that in this economy, they let a customer walk out the door. I just extended the lease for 6 months - deferred the pain a bit. See what happens in 4 more months.
  • bluetigerbluetiger Posts: 2
    Does anyone know if Toyota has a website of what they will charge me for tires, scrapes etc when I turn in my lease ? A friend said he got an allowance with Honda but that doesn't seem to be the case with Toyota.

    Thanks
  • rlmiller9rlmiller9 Posts: 48
    I have leases a number of vehilces and the turn in results have been similar. Here are the things to watch for

    1. Tires they need to have 1/8 inch thread
    2. Windshield and glass no cracks.
    3. Acessories must be there, cargo lids etc.

    After that it is a bit subjective, most of my leases at about 45 days to go I get a little plastic thing that has holes in it saying if a ding is bigger than this hole you will pay if a scratch is bigger than this one you pay. If there is a tear on the inside bigger than this you pay.

    I would take lots of pictures before you turn the vehicle in, just in case there opinion differs from yours on normal wear and tear.

    I will also add that on some leases at the end I have negotiated a bit and tried to hold my ground on things that were wrong and got them to split the cost of say some road rash on the front bumper.

    I have a mini going back in a couple months and they have me a little concerned because they are asking for a pre turn in inspecition as if they 'want' to find things wrong?
  • 54325432 Posts: 4
    Does anyone know the current money factor and residual for 2009 Sienna XLE on 36mo lease with both 10K and 12K miles?
  • bluetigerbluetiger Posts: 2
    Thanks for the info,
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