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and also for what trim you got 1800 off MSRP
Did internet searches for two weeks, nobody else came close to this price. :shades:
Traded a '04 Accord with 15K miles. She owed about $9K. They gave her $15K for the trade so she netted a total of about $6K.
She got an '06 Rav4 Sport, with a ton of upgrades including remote start, upgraded tires, etc. (upgrade package was around $1600) so the car sticker price was just about $26K. She's paying $270 a month for 48 months with no money down. That included TT&L, free oil changes for as long as she has the car, and all repairs and maintenance is free.
So, the math works out to:
Trade: $6K
Payments for 4 years: $12960
Total: $18960
Residual is about $12,800
Now for my questions:
Is that a good deal?
The salesman, sales manager and finance guy all said she'd always have equity in the car since she had so much positive money to move into the Rav4. Can someone explain? If she keeps it for 4 years the way I've understood leases was when the term is up you trade it in and you lease or buy another car and you're back at even. So is what they said true? Or does she need to trade early to make on it?
I can't believe Toyo is spending money on TV ads and has no product to sell. They would be "stuck on stupid". So, my guess is that something is causing distribution problems and as a result RAV's may be in temporary short supply.
So, if the Dealer tells you they aren't gonna budge from MSRP, walk out and leave, cause that's a load of crap. Yeah, they are popular, but they are being unfair, ripping you off and don't play their game. Wait a little while or check another dealer.
I also walked out when the dealer wanted MSRP for one with a bunch of useless options that I don't want.
They know that there are a lot of fools that will pay MSRP.
As for the "positive money" statement, if you had leased the full amount of $26,000 with no trade-in, you would be liable for all remaining payments, plus residual, if the car was stolen or totaled, less what insurance would pay. Since a typical car loses about 40% in the first 3 years, you may have a point where you owe more than the car is worth. Insurance called "GAP" insurance will cover the difference. Sometimes this insurance is free. I paid $500 but canceled it 2 weeks later and got most of it back.
If the lease is for 4 years, you will be penalized a lot if you cancel it early. After 4 years you can buy it at the residual, walk away, hoping they don't charge you for excess wear and tear, or lease another car.
I leased a 1999 Camry for 36 months at $373 per month. Iput enought money away to pay off the residual and kept the car. I still have it after 7 years, but my heart is set on the new RAV4. I plan to buy it this spring.
One last point. According to Kiplinger's magazine, previous RAV4's have depreciated 43% after 3 years and 63% after 5 years. Your $12,800 residual at 4 years is about 49% of sticker, so it seems resonable. Funny thing is, the Honda CRV deprecialtes much less, with 29% and 44% for 3 and 5 years. If the new RAV4 depreciates less than previous ones, you may have a good bargain paying $12,800 for the residual.
I'm no expert in leasing, but have leased twice before. I will not be leasing this time.
What dealership in Texas did you buy from? I live in DFW and we are going to buy a RAV4 this month.
2006 Toyota RAV4
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I am looking for 2006 Toyota BASE RAV4
4dr SUV 4WD (3.5L 6cyl 5A) .Can you tell me difference between 4 dr SUV and 4 dr SUV 4 WD. I live in miami ,can someone tell me good dealer in miami to fortlauderdale area.Also what I should ask dealer before buying RAV 4.
Thanks,
Dave
The options seem to be what makes the prices seem so high over invoice.
Side curtain airbags
Roof rack
Running lights
Floor mats
Cargo area cover
Also, the car showed up with 17" Alloy wheels which we didn't order but agreed to pay another $100 for (since we liked them!). Total price before TTL (but after wheels) was $21,362 - right around invoice if you include the wheels. We purchased in the Houston, TX area.
Thanks,
Dave
The '07s should be released Sept-Oct, I might as well wait to see what "updates" are made. The second year Highlander, Avalon, Matrix, Solara all received minor tweaks during the second year.
Thanks
Thanks!
You can name the dealership, the city and state... NO contact information.. this includes phone numbers, e-mail addresses (including your own), weblinks, names, shoe size, etc, etc...
regards,
kyfdx
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Email me for contact info.