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Toyota Sienna Lease Questions

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  • Thanks, in your case, how long did it take to catch up?
  • dogsambamdogsambam Posts: 59
    The weirdest issue is that it seems like they are not moving the vehicles. In our area you see very few of the new Sienna, and the dealers seem to be sitting with them. The toyota dealers are complaining that their cars are really not selling, yet, they are not making lease deals on this car. They are discounting it down to or below invoice, but the factors are what are ridiculous.
  • I'll never understand it. Meanwhile, my good money will go to the Odyssey instead.
  • That is a great deal, jeb. where are you located? do you have the dealership name. I would probably fly to get that deal. Please let me know, thank you
  • I am working on a lease for 2011 Sienna XLE and am getting mixed info. My research (carbuyingtips.com) says acquisition and doc fees are negotiable and should be minimal (250-500 for acq and $100-200 for doc fees).

    Current offer from local dealer in Charlotte has $995 acq. fee and $595 doc fee. I think this is crazy. When I questioned it, the response were that these two fees are non-negotiable. Acq is $995 from Toyota and $595 is dealer.

    Please advise if this is part of the rip off. I have a $2700 value trade in and I really don't want to pay a whole bunch in fees.

    Thanks!!!
  • jeb3779jeb3779 Posts: 16
    Wasn't as good once we got there! Even though I had emails with the quotes they said they made a mistake and upped the payment to 479 with tax. We walked out called a few more dealerships and ended up with 450 with tax. About 40 more a month but still 30-40 cheaper than the other places I called.
  • With an impossible standard money factor here in Los Angeles on the Sienna XLE and Limited models, (.00235) I found a way better lease deal in the pacific northwest region. There, the special subvented money factor of .00049 is good across the whole model lineup of Sienna's, including the XLE and Limited.

    So, in a nutshell, I save over 100 a month on my payment. (36 month lease/ 12k miles/ paying only OTD fees, it comes to $567 a month, including LA county sales tax of 9.75%). The quotes I received locally were 690- best.

    My question is to car_man, or anyone else, is it possible to lease a car out of state? How does it work tax wise when I go to my DMV, or can the out of state dealer set all that up?

    By the way, the deal i got up north included shipping down here. so it all seems good. Except for these couple pesky questions I don't want to get stuck with. (Oh, and I did remember to make sure the vehicle qualified for my state's smog guidelines.)
  • ucjjgucjjg Posts: 19
    edited July 2010
    The doc fees are excessive at $595. At most $50 is acceptable.

    Keep in mind that doc fees are only one aspect of the leasing equation. You need to spend a little bit of time to understand how MSRP, sale price of the vehicle, residual value, money factor, sales tax, down payment (which should always be ZERO on a lease) and term of lease all play into your monthly payments. Unless you have clarity on these variables insofar as to understand what constitutes fair vs. unreasonable the dealer will always have the upper hand. For example, the dealer can take the $595 down to zero, then if you are not paying attention to the other variables, make up that $595 by a) increasing the money factor, b) increasing the sales price or c) "increasing" your down payment **.

    Hope this helps. Good news is that Edmunds.com has all the information you need to understand the leasing equation and ascertain fair values for all aspects of the deal.

    ** Regarding down payment, do a little research to understand why placing a down payment on a lease can leave you quite exposed from an insurance standpoint should the vehicle get totaled. Never ever put down more than basic lease startup costs (like first month's payment, etc.).

    Good luck.
  • rose33rose33 Posts: 10
    Monkeyshift,

    Would you mind sharing the dealership and the salesperson (if it's permitted) that you worked with on this deal? I am looking for an XLE AWD and the money factors are making the payments ridiculous here as well. Depending on how much shipping is, this may be a good option for me. I contacted one dealer randomly in the pacific northwest but they wouldn't do any shipping. I'd really appreciate it! Thanks!
  • Sure Rose33- the dealer is LH Miller in Spokane, the salesperson's last name is the same as dick tracy- not sure we can post names- but I highly recommend him- he's courteous, prompt and very knowledgeable. Let me know how it works out!
  • rose33rose33 Posts: 10
    Monkeyshift - thanks for the info! I really appreciate it. I'll keep you posted.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi shapiro23. Toyota's lease program varies by region. You never mentioned what state you are in, so for now I will provide you with what I believe is this van's most common program.

    Toyota is not currently providing lease support on any '11 Sienna except for the LE. As a result, if you were to lease a 2011 Sienna XLE AWD through Toyota Financial Services right now, you would have to use its standard lease program. Its current buy rate standard lease money factor is .00235 for consumers who qualify for its top aka "Tier 1+" credit tier.

    Toyota Financial Services' current 36 month, 12,000 mile per year residual value for a 2011 Sienna XLE AWD is 57%. The problem with this residual is that TFS publishes resids for base models. It places restrictions upon what options can be residualized. This makes its real world residuals lower than its published percentages appear. It also makes it difficult for individual consumers to calculate sample payments on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ahmettahmett Posts: 1
    rose33 and monkeyshift,
    i didnt see any update. did you guys lease the sienna from there? my lease is up in december and i am looking for sienna xle lease. to be honest,i dont see any issue if the dealer from spokane agreed to send the paperwork to california dmv.
    please do share your experiences
  • Carman/kydfx

    Looking for resid/mf on '11 LTD FWD. in central NJ. Prefer veh/ with nav and no DVD ( but willing to consder one with if deal is good ) Our '08 of coming off lease within next 6 weeks, so have started looking. our local dealer quoted us ~ 650/mo x 36 mo w/ 2 k down. Not too inspiring. Currently the only "incentive" is 2 yr schedule maintence. ( exp 10/4 ) IYO, will the rollout of the ODDY make the deals a bit more sweeter? May consider purchase of the deal is right..Also, any suggetions for shopping on 9/30? TIA
  • Hi fishdad. The LE is the only trim level of the Sienna that Toyota is providing lease support on right now. If you want to lease an '11 Sienna Limited FWD through Toyota Financial Services right now, you will have to use its standard lease money factor. The last time that I checked, TFS' current buy rate standard factor was .00235 for consumers who qualify for its top aka "Tier 1+" credit tier.

    It's difficult to say what Toyota's October incentives for the Sienna will look like at this point. There certainly is a chance that they will be more aggressive than Toyota's relatively weak current program, but we won't know for certain until next week.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Got an LE, 8 passenger, for $356/month (before tax). Out the door paid first month + the normal tax & registration. 12,000 miles. MF 0.00042.
  • Hi..can anyone tell me if the current lease deal Toyota is offering on the 2011 Sienna LE is a good deal or can it be negotiated down? I was told by a dealer that there are no negotiations on the $329 per month with $2300 down for 12k miles with an end of lease buy price of $18,144. Please help me. Thanks, Jack
  • Car_man,

    Do you know the numbers for November for Sienna's?
  • MSRP: $30,454
    Sale Price: $27,588
    Discount (off sticker) ($2,866)


    Term (months): 36
    Allowed Miles/year: 15,000
    Cost for additional miles: $0.15
    Money Factor: 0.00042 (1.01%)
    Residual $16,298 (54%)
    Cap. Cost Reduction $0
    Security Deposit (waived for tier-1): $0
    Disposition Fee: $0
    Tax (6%) of entire sale price in MD: $1,655.28
    Doc. Processing Fee: $99
    Acquistion Fee: $650
    Reg., Lic., Tags, Title: $300


    Monthly Payment $408
  • mjt5mjt5 Posts: 13
    Carman,

    Can you provide the current money factor and residual % for a 36month 12k lease on vehicle noted above through Toyota? Thanks so much for your assistance.
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