Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Toyota Avalon Lease Questions

kyfdxkyfdx Posts: 27,923
Ask your Toyota Avalon lease questions here!

MODERATOR
Prices Paid, Lease Questions, SUVs

«13

Comments

  • corradcorrad Posts: 6
    What is the current MF and RV for 06 Limited, 36 months and 12/15,000 miles? Thanks.
  • corradcorrad Posts: 6
    Hi car_man, I was wondering if you have the current information? Much appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello corrad. Toyota's lease program often varies by region. In order for me to give you an exact idea of what it is currently like on the car you are considering, it would be a big help if you told me what state you are in. Having said this, I do not believe that Toyota is currently providing any sort of lease support on the Avalon. As a result, in most regions if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease money factor. TFS' current buy rate standard money factor for Tier 1+ customers is .00265. Its 36 month, 15,000 mile per year residual value for a lease of an '06 Avalon Limited is 55%. Its 12,000 mile per year residual value would be 2% higher.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • I've just picked up my 2k6 Avalon XL that was leased 3 years, 45k, w/ just a few extras, w/ 2k total down I netted out a $404 per month lease.(Upstate, Central NY)

    Is that good?...well, to be truthful, don't think it's any "Bargin"...Although I like the car, I found the whole lease-deal-negotiation to be basically very 1 sided...although I involved 4 dealers, the bottom line for all dealers was basically $5 per month on the lease payment and a nickle here or a nickle there on the "extras"...Basically, I think Toyota dealers basically(but politely) just tell you, "This is the lease payment, if you want the car...this is what your gonna pay"

    Before I did the deal, I heard every salesman cliche' in the book

    "What do we have to do to earn your business?"

    "We're very aggressive this time of month"

    "I'm gonna go to work for you"

    Yeah...right...

    When the pen hit the paper those turned into: "hey...we're only making $151 dollars profit on this deal"

    What a load of bunk...what do these guys think we/I are..fools?...No business stays open selling a 30k product for only $151 profit, but you know..they sit there w/ a straight face and proclaim this as fact...

    finally, I just looked at dealer # 3 and said "Alright..enough BS about your profit margin, why don't you just acknowledge you have a 3k hold-back and stop trying to think I'm a fool"...

    That dealer/salesperson was shocked 2 days later when he caught me on the phone and I told him I had leased the car at dealer #4...I just told him, "remember Bob (not his real name) I told you what I wanted to pay, I told you I wasn't believing the BS about the profit margin....Remember?...I told you, THAT WAS YOUR CHANCE to "make your deal"...You didn't do it...Bob...so...have a nice day..."

    I realize this may seem a bit angry, but having Leased, Honda's, Chrysler's, Pontiacs and Suburu's all in the past 12 years, I'd never felt as little "play" in a car deal as I got w/ this one.

    What I got was a good car....what I got was the "Toyota Salesperson handbook" read back chapter and verse 4x over. If I didn't like the car so much I woulda gave up on Toyota after dealer 2, but the damn quality of the car kept sucking me back in. In the end I'm pleased w/ my car, just in the future I hope Toyota adds a few pages to the salesmans handbook of negotiation so at least I can having a FEELING that I made a deal....Instead I just bought a car.
  • fadilfadil Posts: 21
    I would like to lease a Avalon Touring (32,025 sticker price dealer will give it for 28.900). This is offer from a dealer.Based on the lease of 36 mos, 12k miles, with $0 down (plus 1st pmt, doce fee and plates) your payment on this Avalon at invoice is $516.00. OK, the residual value on this lease after 3 years will be $17434.50, this is also the price you can buy it for. At the time of purchase, the lease company will require an accuistion fee of $400.00.The money factor is 0.00275. Please, what do you think about this offer.
  • pbd3pbd3 Posts: 1
    I've been really looking at numbers myself and am attracted to the Avalon for it's cost point over cars like the A6 and M35x. But that said, this lease deal sounds horrible. For that same money, you could drive the M35x which is offering a .00060 rate for 24mo. Audi is at .00066 for 36mo. A .00275 rate is 6.6% before you even factor in the $400 acquistion fee. Some banks are offering 3.99% financing for 36mo.

    Looks like a good car to buy but not lease. Please tell me what I'm missing. I'm also going through these numbers today.
  • finfin atlantaPosts: 588
    Fadil: Based on the guidelines provided in other forums on Edmunds.com, using the numbers you supplied in your message, your payment should be $474. per month, plus all local taxes.

    The reply above correctly notes the $400. charge and the 6.6% effective interest rate as questionable. The residual value, some 54% of MSRP, is probably OK.

    Check your area for lower interest rates on the lease and try to drop the $400. fee. How much do you want the car? Are there others or is this it? Good luck.... :)
  • mishman1mishman1 Posts: 10
    Carman,
    Can you provide the latest lease rate and money factors for the Avalon?
    Thanks,
    Bob :)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fadil. The money factor that you were quoted for this car looks reasonable to me. I would be happy to give you my opinion on the lease payment that you were quoted, however in order for me to do so it would be a big help if I had this car's full MSRP and selling price. These numbers will show me how much of a discount you are being given and will enable mt to estimate what your monthly payment should be. Let me know and I'll tell you what I think.

    Car_man
    Host
    Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're absolutely right, pbd3. The Toyota Avalon is a very nice car, but it is not a good vehicle to lease. Toyota is not currently, and has not provided any sort of lease support on the Avalon in a long time. As a result, if you want to lease one through Toyota Financial Services, you have to use its standard lease program, which isn't great. If I was in the market for an Avalon, I personally would probably finance it through an independent bank or pay cash for it.

    Car_man
    Host
    Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Bob. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. For now, I will provide you with info on a typical lease, 36 months with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Toyota Avalon (not the Limited model) through Toyota Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 56% for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid Forums
  • fadilfadil Posts: 21
    Actually, I have a question. I would like to buy Avalon XL (to lease probably). Several dealers offered it to me for around 500 dollars over invoice. I am pretty happy with that price but my concern is timing of my purchase. Is it better to wait for 07 model, because Toyota is not offering any incentives on 06 model. Probably, I can get that price on 07 model, too. Is there something wrong with my thinking? :) :) :)
  • metamelmetamel Posts: 7
    Yes, I have the exact some thinking and situation. I can get the XL for $500 over invoice, so I'm waiting for the 07 to become available, which will also be $500 over invoice, but one year newer on the used-car price charts. Also, I'm hoping that some of the problems decrease and/or the workmanship improves with the 07, or extras are added. However, I've heard that almost nothing has changed except for the tire-pressure monitor, which is a big disappointment. Also, I'm hoping that there isn't much of a price increase because a large price increase would negate the new year advantage. From 05 to 06 models, there was hardly any increase, and if only a tire-pressure monitor is added, then there should be only a minor price increase. metamel
  • fadilfadil Posts: 21
    Thank you for advice, metamel. I would wait for 07 model.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fadil. If you are confident that you can get a 2007 Toyota Avalon for $500 over dealer invoice as well (this is a good price btw) then you absolutely should wait and go with the 2007 model. Given the lack of lease support on this car, all things being equal...namely price, the '07 model will actually cost less to lease than a 2006 model would because of the '07's higher residual values.

    Car_man
    Host
    Prices Paid Forum
  • I leased my 2006 Avalon Limited in January of this year. I used leasecompare.com and they were excellent. I was able to get the lease terms nailed down before I visited the showroom. I did give the dealer an opportunity to meet or beat those terms but their finance guy took one look and immediately said he could not come close.

    I highly recommend these folks. Great customer service and an excellent deal.

    One caveat though: You need to be prepared for it to take a few days to "close" the sale. Working with a 3rd party is a little more complicated only because the dealership isn't used to doing things that way. If you need to be able to walk into the dealer and drive out with a car then this approach is not for you (and the salesman will be thrilled to see you :P ) If waiting a few extra days for your car is worth saving a few thousand $$ then this is definitely the way to go.
  • philidor1philidor1 Posts: 15
    Car_Man, and other board surfers:

    Does anyone have the March Lease numbers on the Toyota Avalon Limited and XLS models? I need the Residuals, Lease Rates (Money Factor) and good-deal Cap Cost on a 36 mo. 15K/yr lease, with as little $$ down as possible. TFS Tier I credit and Toyota loyalty credit apply.

    Many thanks in advance for all who are in a position to comment and provide whatever information they have.

    Philidor1
  • iamknottiamknott Posts: 82
    philidor1,

    I hope this is not too late to help. This week I leased an XLS with VCS, JBL, and mats. 36 mos., 12k mi., 0 down.

    33,874 MSRP
    30,378 Dealer invoice
    + tax & fees
    32,389 Cap cost
    .00199 Money factor
    18,969 Residual
    475 Monthly pymt.

    The same deal on a Limited would have been

    35,534 MSRP
    32,004 Dealer invoice
    34,164 Cap cost
    .00199 Money factor
    18,478 Residual
    540 Monthly payment

    Yes, the bank had set the residual lower on the LTD than the XLS. Toyota Finance would not do that, but their money rate is so much higher than the local bank's that the resulting monthly payment was higher than the bank's. It's a shame. I really wanted the LTD, but not at that payment.

    Interesting also is that Infiniti Finance is offering a special on 27mo leases. I could get a basic M35x (MSRP $45,000+) for $550/mo. which could be lowered to $515 if I made $2,000 in refundable security deposits. Unfortunately (for me), the M's are built more for performance than comfy ride. I asked the Toyota dealer if Toyota Finance would do the same thing (multiple security deposits) on an LTD and he said no.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Philidor1. This car's lease program varies by region. In your area, Toyota's New York region, Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Toyota Avalon XLS with 15,000 miles per year are .00185 and 56%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new car, iamknott. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride.

    Car_man
    Host
    Prices Paid Forum
  • thilmonythilmony Posts: 2
    Looking for what I should expect at the dealership for an Avalon for money factors, residual. Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi thilmony. Toyota's lease program for the Avalon varies quite a bit by region. If you let me know what state you are in I can try to find out what its current program is like in your area. Also make sure to tell me how long you want to lease for and what mileage allowance you need.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Car Man - thanks for the reply. I'm in MN, 36 months, 15k.
  • hey Car_Man,

    I am in Atlanta and need MF and Residual for 2008 Avalon Limited.

    term = 36

    Mileage = 12,000

    Many Thanks.
  • You're welcome, thilmony. Toyota is not currently providing any lease support on the 2007 Avalon in your area. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. I believe that TFS' buy rate standard lease money factor varies by region, but it will probably be around .00275 to .00285 for consumers who qualify for its Tier 1+ credit tier. TFS' current 36 month, 15,000 mile per year residual value for the base 2007 Avalon is 53%. The problem is that Toyota places restrictions upon which options can be residualized, so it is difficult to calculate its actual dollar residual values for models.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi David. I believe that you are in Toyota's Southeast region. Instead of running leases through Toyota Financial Services like the rest of the country, Southeast Toyota has its own finance company. Unfortunately, I have not seen SE Toyota's lease program for the Avalon recently. Sorry that I could not be of more help.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pt109spt109s Posts: 7
    hello,

    i know this post is over a year since you leased your avalon, but did your 0 down include zero down in taxes as well? i have been shopping the avalon around and im at 450 with nothing down including no tax down for 36 months 12k a year, on an XL! i know money factors change, but i cant believe they would change this much that id have to pay 450 for an xl.

    if you got an xls for 475 no money down including no tax, then you did fantastic, let me know. thanks

    paul
  • Dear Car_Man.

    Do you know what the current rate (money factor, residual, etc) is for Toyota Avalon (Base mode) lease would be with the following:

    3 Year lease, 12K miles
    This is for the SF Bay Area in California.

    Thanks a lot!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi alexnyc8888. I don't believe that Toyota is currently providing lease support on the Avalon. If that is indeed the case and you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor, which the last time that I checked was around .00265 for consumers who qualify for its Tier 1+ credit tier.

    TFS' current residual value for a 36 month lease of an '08 Avalon with 12,000 miles per year is 55%. Keep in mind though that unlike most banks TFS places restrictions upon what options can be residualized, making it difficult to calculate what its actual dollar residual values for specific units are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Is it just me or does the current Avalon XLS lease offering of $409 per month, 12000/yr/36 months seem high? Oh, and it's a 2008 with $2499 cap reduction. my location is the Florida panhandle. Thanks.
«13
Sign In or Register to comment.