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Here's what she just sent me from the dealer...
> Retail
> Vehicle Base Model ....................: $ 16320.00
> Total Accessories .....................: $ 2044.00
> Destination Charge ..........................: $ 720.00
Total .......................................: $ 19084.00
>
> Residual Value ...: 24 36 48 60
> ------- ------- ------- -------
> STD 11,773 10,630 8,823 7,354
> LOW 10,957 9,150 7,681
>
it seems like everything is an option, and that drives the price pretty high for a Corolla
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Looking for 09 Corolla LE , MSRP=$16750
After few options (CL Cruise Control,KE Keyless Entry,CF Carpet Floor Mats,FE 50 State Emissions) = $18164 on the window sticker
what should i start negotiate? if they say they will sell at 1000 above invoice , does it mean $16400+$1000=$17400
what would you guys start negotiate?
also ,
is the MF for Corolla is 0.00163 right now?
Residual Value= 61%, but is it 61% of MSRP+options $18164 in the following example? or 61% of invoive price $16400? or without option $15158 ?
<img src="http://img66.imageshack.us/img66/5250/09corollalecapture1oq4.jpg"
What would the money factor be for an 800+ FICO?
Also, what residual should I expect on a 36mo. 12,000/yr lease of a Corolla base model? Is residual different at all for a standard vs. automatic transmission?
I'm shopping for a lease right now on a 2009 Corolla base (standard trans.) with only floor mats as an option. My goal is to find one for a capital cost under $14,500 with no money down (except first month), residual 61% or better, money factor .00163 or better. Does this seem like a reasonable expectation?
Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Corolla with 12,000 miles per year are .00163 and 61%, respectively for consumers who qualify for its Tier 1+ credit tier. The problem with these numbers is that TFS places restrictions upon what options can be residualized. This makes it difficult for anyone outside of dealers, who are given a list of the specific dollar residual values for the units that they have in stock, to calculate lease payments on vehicles.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I have decided to go the loan & buy route. This way I can take advantage of the $1000 rebate, and I don't have to sweat things like mileage overages and minor damage.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
What are the current lease incentives in the Boston, MA (02115) area? I know toyota is offering some rebates on the Corolla. I was wondering if those can apply to the selling price and the car still leased? Thanks!
Unfortunately, the aforementioned cash incentive is not compatible with Toyota Financial Services' special lease program.
I'm not sure what TFS' lease money factor is for this model in your area yet, but I know that in some areas Toyota is essentially providing 0% financing on leases (a .00001 money factor). That's as good as it is going to get on this car. If you really want to lease a Corolla, now is definitely the time to do so.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
$300 total drive off, that included registration, fees etc.
$263/mth (taxes all included)
15k miles for 36 months
mf was 0.00068 with the incentive these days and residual is 10,430.
I bought in the SF bay area.
Thanks
Another tells me that the lease rate on a 2010 would be .00005 on a 3 or 5 year lease and that she has the paperwork right in front of her if I wanted to come down and look at it.
I'm interested in the 5 year as part of the cash for clunker program. Has / does anyone know the answer?
Confused,
shane
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Invoice 18388
Was offered Invoice minus the $500 rebate and the 5 year cash for clunker lease rate of .00047.
Has anyone else done the Corolla on the 5 year lease through the cash for clunker deal on toyota.com with the $500 rebate?
What was your payment per month?
MSRP: 17950
Sales Price: 17200
Money Factor: .00047
Residual: 7445
$132 /month
Toyota Financial Services' current buy rate lease money factor for a 60-month lease of a 2010 Corolla is .00047 (this factor may vary by region).
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
MSRP - $19,425
Cap Cost - $18,864
MF - 0.00038
Term - 36 months
Cap Cost Reduction - $2,180
Residual - $11,223 with 12k miles
Monthly Payment - $199.58 ($181.85 + tax)
Total Drive-off - $2,995 (includes DMV - $304, Tax on Cap Reduction - $212.52, 1st month's payment - $199.58 + Doc Fee + CA Tire Fee)
We applied the same terms to the Corolla S as with the ad car on Toyota's Website which was the base Corolla LE being offered at $119 per month with $2,999 drive-off. The MF was the lowest that I have seen. There is only about $10 going towards the rental charge; the rest is depreciation. If we had gone with 0 Cap Cost Reduction, the payment would have been $267 with around $800 Drive-off.
If the MF was not subsidized by Toyota Financial, the payment would have been higher by at least $45 per month.
What should the money factor and residual be for a 2010 Corolla LE for the current lease specials they are running?
I am looking for information for a 2010 Corolla LE for a 36 or 39 month lease. I was told that money factor is .0028 and the residual is .70 by Clearwater Toyota. They use Southeast Toyota Finance. These numbers do not sound right to me. Based on the advertised lease special it seems that the money factors should be .00039 - .00050. The residual should be 0.60 - 0.68.
If you haven't already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.
Thanks again and enjoy your new ride!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Unfortunately, I do not know exactly what the details of SE Toyota Finance's current lease program are, but I would not be surprised in the least if its money factors were higher than the .00050 or so that Toyota is using in other parts of the country.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
This is really good looking car. But I paid less so couldn't pick my fav color. I got a red toyota. But it looks nice. No regrets....
One question...should I take GAP insurance??? Its gonna cost me $600.00.
PS -- Why do we pay tax on the rebate, especially when the rebate is basically fronting the acquisition fee?
MSRP $17,950.00
Capital Cost Figure $14,056.00
DEALER REBATE ON LEASE $(750.00)
Less Trade In $(2,700.00)
Acquisition Fee $650.00
Document Prep Fee $85.00
Net Cap Cost $14,056.00
3YR depreciation percentage
RESIDUAL VALUE $10,988.00
DEPRECIATION $3,068.00
Term period 3 year 36
Term period 3 year interest rate-Money Factor 0.00050
Cap + Residual $25,044.00
$12.52
Deprecitiation expense $85.22
Total Base Payment $97.74
Sales Tax @ 6.325% $6.18
Total w/Sales Tax $103.93
License Fee $79.00
Tax on Rebate - 750 $47.44
1st Month $103.93
Total Out of Pocket $230.36
Leased a Corolla 2010 LE A/T with extra value package (fully powered, cruise control, weather guard, heated outside mirrors) and floor mats; 36 Mo/36 K; Residual of nearly $11,000; Paid $1400 down and now need to make 35 payments of $200 each, which includes the GAP coverage from TFS.
Also, does any one have any experience of what happens when one turns in a leased car at the end and wants to walk away? Do they really try to nail you with even minute details and claim that it is excess wear and tear? Put another way, if I were to walk away from the leased car without a new lease or buying the leased car, how much am I looking to pay in terms of end charges? I am really worried about this since this is my first lease and I don't want to become obsessed with keeping the car clean at all times, etc.
Thanks in advance for a detailed reply on both questions!
As for the return, I have not done one, but would not worry about it. Do a search for a 3 year old Corolla and see how many under $11K with 36K miles. Probably non. Worse case scenario you buy the vehicle -- sell it and make a grand or two,
I'm planning to lease Corolla LE MSRP around 18150 , what is current MF and Resid. Value for a 36 month 12k lease, what would be a good price invoice/below?
Thx
Toyota Financial Services current New York region buy rate lease money factor and residual value for a 36 month lease of a 2010 Corolla LE with 12,000 miles per year are .00050 and 65%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
While this residual value looks absolutely amazing, it is misleading. TFS places restrictions upon the options that can be residualized, making its real-world resids lower than its published percentages.
As far as what sort of selling price to pay, if I was in the market for this car right now I personally would shoot for dealer invoice or slightly over.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I got a quote for a Corolla S for $179/mo, 15k miles/year, $0 down, all taxes/title/reg included, and a grad rebate. Is this good? Can they go lower?
the msrp is $17200
what state?
Hopefully you can help me out. I'm looking for lease deals on a corolla in the Scranton PA area. I'm in zipcode 18512. Can you assist me in finding a good deal? Here's one I've seen-
Corolla Sedan (not S)
$139/month
$2000 down plus tax, tags, etc.
I wonder what the money factor could be on this. I haven't been in the dealership yet. I'd like to get the down payment down to zero.
Thanks for your help!
I need your help. I want to lease the Corolla S Model Auto. The dealer offer me with $1,400 down and $185 a month for 36 months. The resid value will be $11.3K after. The MSRP is $18,805 not including the anti-theft alarm by the dealer valued at $499. I'm from So Cal and the dealer is in So Cal also. Is this a good deal or I can find something better than this?
I have been quoted a lease deal based upon a sales price of $17,200.00 including a $1000.00 college grad rebate
Money factor is .00002
3 yr; 36K
1800 cap cost
$173/month = Arkansas tax = $199
This deal seems to be a bit costly for this vehicle.
Any feedback would be greatly appreciated.Thanks
Carman and others please help!!!
I went to a Toyota Dealership in Queens, NY yesterday and walked out with these numbers, I want to run it by you guys to see what you think of the deal:
2010 Corolla LE
MSRP: $18000
Agreed Price: $16900, which he says is dealer invoice for this car. I checked on Edmonds and it's pretty spot on.
Residual: $10210
Bank Fee: $650
Money Factor: .00001 (ridiculous!)
Term: 3 yrs, 36000miles
My questions:
1. So, the dealer is saying that the total will be $228 a month. I did the math using the formulas and I came close to what he showed me. I got $222.03, a difference of 6 bucks. Should my number be spot on or is a difference of 6 okay?
2. Also, is it common that Toyota doesn't include Gap Coverage? The dealer said it can be purchased for $7 a month. Can I negotiate this to be included free of charge?
3. He gave me the residual value but I'm not sure of the residual percentage. How can I find the the residual percentage for this car?
4. I'm trying to bring the total monthly payment to $200-$215.If they won't budge on price then I'd like to try to get a moonroof included in the car for no additional charge. Do you think this is possible?
Please give me advice on some negotiating options I may have to bring the price down. Thanks you!
I am considering a lease of a basic Corolla LE. What is the current MF and Residual for a 36 month, 12k lease in my region (Wisconsin)?
Thanks!
Here are the details of the lease I signed on January 20, 2011 in Massachusetts:
Dealer paid off my trade ($29,000 owed)
2010 Corolla LE Automatic
$214/mo. for 36 months
12k miles/year
$627 out of pocket (included my first month payment of $214)