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Toyota Sienna Lease Questions

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  • Hi biffster. What state are you in? Toyota has started introducing lease support on the 2008 Sienna in some regions. If there is no support available on it in your area yet, I suspect that there will be in the next couple of months.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm in Northern California. I suspect, given the support on other 2008 Toyota models in my region currently, that November might see some deals soon!
  • I am getting a deal for a 2008 Sienna LE for 314 a month with $1700 down. Is this a good deal? With $1000 down its closer to $340 a month. this is in Indiana. The dealer said that the money factor has gone up for a Sienna which is the reason he cannot offer as good a deal as he did last year.
  • Hi Carman, any idea what the Nov. Toyota buy rate numbers are for an 08 LE 36 month 12K lease are. Thank you.
  • I recently went to Prestige Toyota in Ramsey, NJ regarding the nationally adveritsed 2008 Sienna Lease deal.

    The current national deal is $249/month for 36 months, $2199 down not including tax title, registration, license.

    They offered me the following lease deal:

    2008 CE 7 Passenger $239.month, $4000 down (includes all fees) Gap Insurance Included
    2008 LE 8 Passenger $259 month, $4000 down (includes all fees) Gap Insurance Included

    Part of the down can be rolled accordingly into the monthly by dividing how much you want to take off the down by 36 months. So I was leaning for the LE 8 passenger deal chopping it down to $2000 down and upping the monthly to $314 a month.

    It seems like a good deal and prestige is telling me this is highly aggressive based on the national campaign. I am about to go to Glen Toyota tonight and see if they could do better, but wondering anyone had any input regarding the current nationally lease deal on the 2008 Sienna. Should I jump at this? Or take a look at another dealer?
  • I am shopping for Sienna XLE Limited AWD to lease for 36 months 12k miles.
    with option package QL( AKA option package #2) and HZ package.

    I have the following offers for zero down, tax tags everything included. Zero out of pocket:

    For In-stock colors: $605 a month for 35 months.

    For Pearl White color I want: $617 to $650 a month for 35 months.

    Are these good deals? Anything better, please post.
  • That seems high to me, what are they using for a price of the vehicle ?
    After 35 months you will have paid them over 21,000
    Not sure how much driving you do, but 12k miles a year is not alot and if you go over that is more money.

    You can lease a Mercedes for that kind of $
  • Happy Holidays!
    I recently came into a very small inheritance and am now able to purchase my van.
    I am just not sure if it makes sense or not.
    I own a 2005 Toyota Sienna XLE which is selling locally around $33,000cdn.
    My current buyout value is $28,000 plus 15% tax and I am paying $661/mth and halfway through the lease term.
    Any thought or ideas of the pros and cons of buying this lease out early.

    Thank-you kindly.

    CD :confuse:
  • foxyesqfoxyesq Posts: 26
    That sounds way high. I just leased a Sienna XLE Limited AWD with Option Package No. 2 with tow prep. and daytime running lights. MSRP $41,024 (with metallic paint).
    $545 month (including tax)
    $1,650 at signing (includes MVC fees, bank fee and first month).

    Glen Motors, Fairlawn NJ.

    They were also very fair on my trade.

    Prestige Toyota (Ramsey, NJ) wanted $570 per month for similar car (but without metallic paint or tow package) or $527 with $3,000 at signing and offered $1,250 less for my trade.

    For more on Glen Toyota's pricing (and the name of the particular salesman) see posts by urnabnomad and svofan2 (and thanks to them for shedding the light on this dealership). :shades:
  • Do NOT buy your car!! Think about it this way - if you "invest" ~$30K in your 3 year old car, it will be worth about half of that in another three years. Do you think getting a -50% return on your money is a good idea? At the very least put the money in a savings account and use the interest to help pay off your monthly payments. A car is the WORST "investment" you could make.
  • Thanks for your thoughts ballhog!

    The reason that I am thinking about buying it out is so that I can sell it privately and purchase the "08 Sequoia.

    I know that trading in a leased car is never a good idea - so that is why I thought about this scenerio.

    your thoughts?

    L
  • tifightertifighter WAPosts: 1,376
    Car man (or others)-

    Any info on the current money factor/residual etc for the Sienna (LE AWD) this month from TFS?

    15 Leaf / 08 RDX

  • hause7hause7 Posts: 153
    What is the residual value? the trade-in, retail, or private party? How can you figure it out? i want to work out lease payments on an 08 Limited.
  • Hmmmm.....IF you really want the Sequoia, try to line up a buyer for your Sienna BEFORE you actually buy it out. One of the main reasons why I lease is so that I don't have to deal with the hassles of selling a car. It's not easy, especially at that price point. I had a 3 year old Accord in mint condition and it took me a while to sell it.

    I'm not familiar with Canadian tax laws (just the casinos and gentlemen's clubs ;-) but do you have to pay 15% for buying out the lease or that the standard tax for buying a car? That still seems like a lot.

    $30K invested with a 12% return will double in 6 years, just something to think about.
  • bsc99bsc99 Posts: 9
    Can I please get the latest Buy Rate MF & Residual for a 2008 Sienna XLE FWD with Package #2 for 36 Months @ 12K Mi per year (Tier 1+)? I will share my Northern NJ negotiating experiences shortly.

    Thanks / much appreciated
  • bsc99bsc99 Posts: 9
    Bump - Can anyone assist the numbers referenced above (for March, 08)?

    Thx
  • gforce4gforce4 Posts: 4
    I'm planning on leasing a Sienna LE for 3 years and need to know the money factor and the residual $ (or amount) in the Philly, PA area.

    LE
    3ys lease; 15k/yr
    $4,200 in packages
    MSRP for all was $31,082
    Next offer was for $28,084 includes all except 1st mt pmt and tags. Down payment factored in with a monthly pmt of $499.

    Is this a good deal??
    What is the Money Factor & Residual for this van??

    Help!
  • mnandamnanda Posts: 2
    I anticipate leasing (24m) above with Pkg #2, daytime lights and cruise/HID lights with MSRP $41669. Fitz mall has an internet cap cost(selling price) of $36370 + $99 in fees with money factor of .00138 (3.3%). The exact payment $ is simply a derivative of the above ( plus residual %) so it is not my main concern. Is the selling price and lease interest rate as good as it gets? I am told rebates do not apply to this transaction because it is a lease. Is this true?

    Does this car only come with run flat tires and is that a problem?
  • irgirg Posts: 197
    I have a 2005 Sienna XLE (base) that is up at the end of April. I have only 17k miles on it, with a lease of 12k per year. Will the dealer give me a better deal on a new lease, or some incentive for returning a vehicle with such low mileage (and good condition) or am I just giving the dealer a nice profit when they resell it? The buyout price is $18,xxx and it isn't worth it for me, but maybe if I negotiated a better price, I could sell it myself, and take the profits. Anyone do this? Who do I negotiate, with Toyota Financial? Or a local dealer? Doubtful that a local dealer could sell this van for more than $18k, so they must get a deal somewhere. ANy advice would be welcome.
  • irgirg Posts: 197
    Is anyone leasing a Sienna these days? How are they comparing to the Odyssey? I see ending today that financing for a Sienna is very good, but I don't see any lease deals, wonder why. Maybe next month?
  • irgirg Posts: 197
    I got a quote from Fitzmall, where I leased from before, on a Sienna LE, package #2, alloys, floormats. Price is $24,981 (1,000 from Toyota does not count on leases apparently), residual is $14,859 (is that 59%?), with a money factor of .00103. Forget how to convert that to a %. Payments came to $344, but taxes (I'm in NYS, Fitzmall is in Maryland) due upfront of $1,430. If I divide that by 36 months, that adds $39 to the monthly lease, for $388 a month, not that good imo. I can get a Honda Odyssey for $358 includes all taxes. Last time I couldn't get the Odyssey lease to equal the Sienna, and now it is the other away around. The only thing with the Fitzmall lease, that $1430 that is due, last time I leased, they sent me a check about a month later for a similar amount, so I am not sure whether they've done this right or not.
  • irgirg Posts: 197
    I was told my Fitzmall the same thing, that the rebates didn't apply. I'm finding the Odyssey EX models lease better than the Sienna.

    As far as the AWD models, I had a friend who owned one, and had a ton of problems with it. Eventually Toyota replaced (and paid for) all new tires and wheels, yeah the wheels needed to be replaced as well, and they replace a lot of suspension parts in the front too. According to CR, the Sienna has been more reliable than the Odyssey. The Ody also has issues with the PAX tires. I got some snow tires on my regular XLE Sienna, and never got stuck.
  • nosher1nosher1 Posts: 1
    Hello,
    I priced out a basically full loaded XLE Limited for about $40,500. I filled out the Edmunds form and had 4 dealerships contact me. Everyone is offering the car for around $35,000 (at or slightly below invoice). I got quotes for a 3 year lease with zero down, and inceptions all rolled in (that means the only payment I make at signing in the first month's lease payment). Everyone is quoting in the $660 to $680 per month range for a $36 month lease. That seems a bit pricey for a $35,000 van, doesn't it? Has anyone out there leased a similarly priced Sienna? What did you pay?
    Thanks!
  • I am interested in leasing a 2008 Sienna either CE or LE 8 or LE 7 (package 1 or package 2) PA Resident.
    I leased a 2005 Toyota Sienna CE in May 2005 PA resident.
    I am not sure that I got a good deal then so I would like to start by having you review my last lease to show me the pros and cons of my last lease deal.
    $3,752.25 due at lease signing
    $229.05 for 35 months total $8,245.80
    Total Payments at end of lease $11,769

    Gross Capitalized cost $22,445
    Capitalized Cost Reduction $2,381.15
    Adjusted Capitalized Cost $20,063.85
    Residual Value $14,489
    Depreciation and Amortized $5,574.85
    Rent Charge $1,990.08
    Total of Base Monthly Payments $7,564.93
    Lease Payments (36) $210.14 Monthly Sales $18.91
    Total Monthly Payment $229.05

    Breakdown of $3,752.25
    Capitalized Cost Reducton $2,381.15
    1st Month $229.05
    Title Fees $22.50
    Registration Fees $36
    License Fees $24
    Tax on Capitalized Cost Reduction $214.30
    Acquition Fee $400
    Doc Fee $55
    Gap Insurance / Sales Tax $390.25 (325 / 75.25)

    6/3/05
    Pricing Report from Edmunds
    MSRP $23,425 plus $470 package 1 and $565 destination charge
    Invoice $21,082 plus $376 package 1 and $565 destination charge
    Others Paying $22,035 $62 regional adjustment, $417 package 1; color adjustment $44; Destination charge 565

    Sticker info
    2005/5326C
    MSRP $23,425
    Package 1 $470
    Carpet Floor mats / door sill protector $196
    Destination Charge $565
    Total $24,656

    Thank you in advance for your assistance.
  • additional info
    2005 lease was 3 yr; 45K (15K per year)
  • Hey, everybody, was wondering if somebody getting better lease for 08 Sienna LE with AL,QF,CF,FE,RL in Chicago land than $360 a month (36/36000 with $550 due at signing; $360 includes everything). Cap cost is $25,797. Got 360 from two dealers after emailing for two months. Just need your thoughts on this.
  • napabpnapabp Posts: 1
    what is the best money factor and residual you have found on a Sienna lease (XLE AWD)? I'm in northern ca.
  • andy2812andy2812 Posts: 67
    Hi Car_man

    Can you please get me the 36 month/15K MF and Residual for the 08 Sienna AWD, XLE and LE trim line.

    Thanks
    Andy
  • andy2812andy2812 Posts: 67
    Hi Car_man

    Can you please get me the 36 month/12K MF and Residual for the 08 Sienna FWD, XLE and LE trim line. You can ignore my prior post asking for the AWD lease rates.

    Thanks
    Andy
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi andy2812. Toyota's lease program for the 2008 Sienna varies by region. The most common buy rate lease money factor for this van is .00103 for consumers who qualify for its Tier 1+ credit tier, but again this number will vary depending upon which one of Toyota's twelve regions you are in. Toyota Financial Services' current 36 month, 12,000 mile per year residual value for the '08 Sienna LE is 54%. The residual for an otherwise identical lease of an '08 Sienna XLE is 52%.

    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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