Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

2013 and earlier Toyota RAV4 Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited July 2014 in Toyota
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Toyota RAV4. Thanks.

Car_man
Host
Smart Shopper / Prices Paid Forums
«13456711

Comments

  • jacknycjacknyc Member Posts: 4
    Car_Man: thinking about leasing a 2005 RAV4 before the 2006s come out and hoping that Toyota may be providing some lease support on it.

    We are thinking about 24, 30, or 36 months with 10,000 or 12,000 miles. Do you have info on the money factors and residuals?

    Thanks in advance!
  • jacknycjacknyc Member Posts: 4
    Actually -- I'm comparison shopping b/w the RAV4 and the '05 or '06 Chevrolet Equinox, so I'd love to get the numbers for both as I continue to shop.

    I couldn't fine a Equinox Leasing forum (and I imagine many RAV4 shoppers may be interested in both cars anyway), so I hope you don't mind me asking both questions here.

    Thanks again!

    :shades:
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jacknyc. Unfortunately, Toyota is not currently providing much in the way of lease support on the 2005 RAV4. Manufacturers generally tend to shy away from providing lease support on vehicles towards the end of the model year because it just becomes too expensive for them to provide attractive leases on vehicles when their residual values have dropped so low. Toyota's lease program varies depending upon which one of its twelve regions one is in. The only area that I have heard Toyota has lease support on the '05 RAV4 right now is in its Kansas City region. If you let me know what state you are located in, I should be able to give you an idea of what its program for this truck is currently like in your area.

    As far as the Chevrolet Equinox goes, General Motors is no longer leasing the 2005 model. if you were to lease an '06 Equinox AWD through GMAC right now for 24 months with 12,000 miles per year, its current base lease rate and residual value should be 5.4% and 67%, respectively. The lease rates for otherwise identical 30 and 36 month leases of this truck would be the same, but their 12,000 miles per year residual values should be 61% and 59%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • jacknycjacknyc Member Posts: 4
    Car_Man

    Thank you for your lengthy reply.

    I am in New York City (hence my screenname) -- so any info on 24,30, and 36 month leases on the RAV4 with 12,000 miles would be great.

    I assume (since the car isn't out yet) that Toyota hasn't provided any info for the 2006 RAV4.

    Let me know whenever you have a minute.

    Best,

    Jack
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Jack. I should have guessed that you are in New York, by your username jacknyc :) . Toyota just introduced its new November lease program yesterday. I know that it is not currently providing any sort of lease support on the 2005 RAV4 in your area. That means that is you were to lease one through Toyota Financial Services, you would have to use its standard lease program. TFS' current buy rate standard lease money factor for consumers who qualify for its Tier 1+ credit tier is currently .00255 for any length lease. This is the most important number to know, other than your vehicle's selling price, when leasing. I have not seen the new residual value for this truck yet, but should have an idea of what it is like in a few days. If you want to know what it is, stop back later on this week and post a reminder for me. I will let you know what I have been able to find out for you.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • govbluegovblue Member Posts: 1
    I would be interested in this as well. I am in Maryland. Thanks!!
  • missykmissyk Member Posts: 1
    Hi Carman ! I'm looking to lease a small 2005 SUV, thinking I'll get a better rate than on a 2006, based on rebates. I'm driving a 2001 Escape right now and love it, but need to get rid of it before it's too old. My choices so far are Rav4, Tribute, Escape and Tuscon. I'd like a website to figure out the residual value on these. Can you help me ?

    THANK YOU !

    Missy
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi govblue. I don't believe that Toyota is currently providing any sort of lease support on the 2005 RAV4 in your area either. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its buy rate standard lease money factor of .00255, assuming that you qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Missy. Let's compare the lease programs that are currently available on the trucks that you are interested in. Actually, now that I think about it there really isn't any need to. All of the manufacturers that you mentioned have canceled their special lease programs on 2005 models. Most automakers stop providing lease support on leftover models late in the model year because their residual values have fallen to the point that they become too expensive to support. If you want to lease one of these trucks, you would be much better off going with a 2006 model. Let me know if you would like me to give you information on the current lease programs of the '06 versions of these trucks.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • nedrivernedriver Member Posts: 11
    I'm looking to lease an '06 RAV 4 (4X4, Limited, Leather/Moonroof option, remote start & alarm - MSRP 29K, 36 mos with limited or no down payment). Any ideas what people are paying in the MA or RI area?

    So far I have a quote about 2,200 under MSRP but wasn't sure if there are any lease deals out there.
  • lama88lama88 Member Posts: 6
    I am on Long Island and am also looking to lease the same
    Toyota RAV4 as nedriver. Does anyone have an idea if there are any lease deals or what people are paying?
  • jmw1137jmw1137 Member Posts: 2
    I don't have a lot of experience leasing but I've read a lot about it so when my wife bought her Rav4 on Saturday she decided to lease. I've been going over & over the figures and am still not sure how good of a deal we got. Can anyone help? Here's the breakdown:

    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?
  • cindy14cindy14 Member Posts: 1
    Hi!!

    I live in Redlands, Ca. area, Pls. let me know about any '06 Rav4 lease programs in my area. If there isn't any lease progams for the Rav4,which other suv would you suggest that would be close in pricing.

    Thank you,
    Cindy14
  • drohrerdrohrer Member Posts: 37
    Car Man,

    What information can you give me about a lease on the RAV4. The residual is something that is already determined, isn't it?

    I'm looking at 24 or 36 months at 15K/year.

    Any ideas on toyota's money factor?

    This would be the first vehicle we've ever leased. Even though we've looked for a long time there doesn't appear to be a "perfect" car for my wife. This is, however, the best we've found. Since neither of us is sure (and we need to do something soon) I thought we might hedge our bet by leasing to see if it's right.

    Thanks.
  • jimd4jimd4 Member Posts: 877
    Just remember, if you lease for 3 years, you cannot get rid of the car before then. So if after a year or so you don't like it you pay all the payments till the end of the lease even if you park it.

    Leasing is for lower payments for more car, not flexibility
  • mrtwistmrtwist Member Posts: 1
    These are my numbers:
    RAV4 v6 4AWD
    Sticker 27400, selling for 25670
    residual 65%, 0 down, 36 month, 15K -- $430.

    Is this a good deal?
  • jimd4jimd4 Member Posts: 877
    Well the residual is good and the sell price is pretty good.
  • rws0131rws0131 Member Posts: 27
    Those are good numbers! What is the money factor and acq fee for the Rav4?

    RWS
  • guspalpogguspalpog Member Posts: 1
    Hi, I just want to thanks everyone for the discussions and the help you have provided in this, my first lease... i did a lot of research here at edmunds. I use the forums, the site to research the vehicle and all the financial calculators. I did also follow the advice posted in some of the blogs in terms of the negotiation.
    I got a selling price of 20800 (the Edmunds invoice price is 21300) on the 2006 RAV4 Base 4WD 4cyl MSRP 22800. the price on the lease has a VR of 14600 and i will make 36 payments of U$ 310. I only pay 500 dollars at the time of signing. Everything else was rolled into the lease. This deal was obtained in Prestige Toyota, NJ (although taxes are at 8.375 % since I live in NY).
    It was a very scary experience entering a completely different world.. but only the guidance that i obtained here allowed me to understand how the system works. That knowledge and the use of internet, i think were key aspects to get a good deal. I think i got a good deal, you probably guys are going to tell me better...

    Gus :)
  • jimd4jimd4 Member Posts: 877
    Hello, what state are you in? Did your $430 pmt include tax?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cindy14. I don't believe that Toyota is currently providing any sort of lease support on the RAV4 in your area right now. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor for consumers who qualified for its Tier 1+ credit tier was .00265. If you want an SUV that has a better lease program available on it, you can always take a look at the Toyota Highlander or Honda Pilot.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, drohrer, Toyota has already published residual values for the all new RAV4. If you were to lease a base (not the Sport or Limited models) 2006 Toyota RAV4 4WD through Toyota Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00265 and 71%, respectively. The numbers for an otherwise identical 36 month lease should be .00265 and 65%. As you can see, this model's money factors are not very attractive right now. This is because Toyota is not currently providing any sort of lease support on it. If I was in the market for a RAV4, I personally would not lease it right now. I would either finance or pay cash for it or lease something that has a more attractive lease program available on it, like a Toyota Highlander or Honda Pilot.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new RAV, Gus. I;m glad to hear that everything worked out well for you. Thanks for taking the time to share the details with all of us. Enjoy!

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • jerrylpjerrylp Member Posts: 3
    Anyone have suggestions on buy vs. lease of RAV4 Limited, used to commute 30,000 miles/year? [ End of 3 years, car will be worth next to nothing, in either case. ]

    Thanks, Jerry
  • nvnicknvnick Member Posts: 50
    Come on, it's a Toyota! It'll easily go 150k, so I say finance it for 5 yrs (or less, depending on your situation), then sell it for $5k. Replace belts/hoses/water pump at 100k, and keep receipts for resale purposes. I'm guessing these are highway miles, so new brakes/rotors every 55-60k. Get the V6 and call me in 2011; I'll take it as my winter car.

    I had a 94 Acura Integra GS-R that went 6yrs/120k with no problems, and currently have 96k on my 2000 BMW 3 series.

    Nick
  • jerrylpjerrylp Member Posts: 3
    What was I thinking??!! You're absolutely correct - while this would be for my wife (a Limited, trading a 98 Mystique)), I forgot that I have a 95 Explorer with 141,000 miles! If IT can make it that long, so certainly should Toyota, except the Toyota will not have had $6,000 in repair bills (2 new clutches, a transmission, and a transaxle housing) in the last 40,000 like my Explorer. Therefore, I need a new vehicle, too, before I get another $2,000 repair bill, and want the V-6 (Sport) - just saving my bucks and waiting for the V-6's to trickle in. I was also thinking a 5 year loan. Thanks for the comments - I have new confidence, and I'll keep you in mind in 2011!

    Jerry
  • amcgeeamcgee Member Posts: 1
    Help! I currently have a Toyota Sequoia SR5 2wd with 21,000 miles. I paid $40,000 1.5 years ago and financed it over 6.5 years (crazy) and my current payoff is $34,450. My payments are $650/mo. and gas is killing us.

    I visited a Toyota dealership in hopes of finding a vehicle that I could reduce my payments on and pay less in gas for. After 4.5 hours I was told that they would give me a RAV4 lease for $439/mo (rolling in my $7,500 in negative equity) over 5.5 years. I have never leased before or dealt with negative equity in a vehicle. Is this a good deal or could I find better?

    Also, I looked at a Scion but was told that with my negative equity I needed a car with mark up like a RAV4, Avalon or Camry. I would love to have my payments under $450. Am I being realistic?

    Any advice would be greatly appreciated!!
    Thanks,
    Amy
  • toycashtoycash Member Posts: 139
    Unfortunately, in your situation, a "good deal" is going to be a relative term. Payment-wise, you'd be saving 200 a month, plus gas savings, but you're locked into a lease for five and half years, which is a long time, especially for a lease. Can you be sure you won't want/need to get rid of the vehicle before then? Because you probably won't be able to.

    If you go ahead with that deal, make sure you get GAP insurance, because you will have even more negative equity than you do now. You might want to at least check on the cost of extending the warranty to cover the term of the lease, otherwise you'll be leasing a vehicle with no warranty towards the end (even though it is a Toyota). And remember, after that period of time you may start to get into some maintenance items like tires, brakes, etc., which will have to be done even though you don't own the vehicle.

    Good luck!
  • scopescope Member Posts: 3
    Hi, I'm in NYC and considering leasing a RAV4, Limited, V6 4x4,sunroof, leather w/heated seats, mud guard, daytime running lights, curtain & side air bags, carpet&cargo mats, tow prep pkge. 0027 money factor. Is this a good deal?
  • scopescope Member Posts: 3
    Hi Car Man:

    Are you still hosting this site. Anyway, I posted a question and may have not done it correctly. So, here goes again. In NYC considering leasing a 2006 RAV4, Ltd, 4x4, moonroof, leather w/heated seats, mud guard, daytime running lights, curtain & side air bags, carpet & cargo mats, tow prep pkge. Quoted cap cost 28782, 3500 down, 399/mo, rv of 19000, mf of .0027, 399/mo for 36 mos. Is this a good deal?
  • benji123benji123 Member Posts: 104
    Car_man,

    Can you please give the LMF and residual % for the 2006 Base and Limited models (24 & 36 months)? Thanks!

    Ben
  • benji123benji123 Member Posts: 104
    Can you please give the LMF and residual % for the 2006 Base and Limited models (24 & 36 months)? Thanks!

    Ben
  • orange99orange99 Member Posts: 2
    I am in New York City.

    I recently leased a 4-cyl Sport (with sunroof & 6-cd changer) @ $25,225 for 36 months. MSRP was $25,374. I know I probably could've done better on the selling price, but I look at the monthly payment more than selling price or residual value. I don't plan on keeping the car after 3 years.

    DOWN $1470 (includes first month)
    MONTHLY $405 x 35 (12K miles/year)

    TOTAL $15,645

    I think it's a good deal, but I made them throw in a PREPAID MAINTENANCE CONTRACT (36 MONTHS OF FREE MAINTENENACE) or "NO DEAL".

    This is a good car. I leased 2 Jeep Grand Cherokees (a V8 and a V6) before this. Those were gas guzzlers and just not very good mechanically, American cars just aren't very good. The power on my 4-cyl RAV4 seems to be better than the Jeeps and gas mileage is much better.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi scope. Toyota is not currently providing any sort of lease support on the 2006 RAV4 in your area. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor was .00265 for consumers who qualify for its Tier 1+ credit tier. So the money factor that you were quoted is pretty close to this. It's tough for me to give you my opinion on this truck's cap cost without knowing its MSRP. If you can provide me with this number, I'll let you know what I think. Also, you should avoid making such a large down payment when leasing. If your leased RAV is totaled in an accident or stolen and never recovered during your lease, your down payment essentially disappears.

    Car_man
    Host
    Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ben. Normally I would need to know what state you are in to give you an accurate picture of what a Toyota model's lease program is like because its money factors often vary depending upon which one of its twelve regions you are in. However, to the best of my knowledge Toyota is not providing lease support on the 2006 RAV4 in any of its regions right now, so your state really doesn't matter. If you decide to lease this truck through Toyota Financial Services, you will have to use its standard lease money factor. The last time that I saw it, TFS' buy rate standard money factor was .00265 for consumers who qualify for its Tier 1+ credit tier. TFS' 24 month, 15,000 mile per year residual value for a base '06 RAV4 4WD is 70%. This truck's 36 month, 15,000 mile per year residual is 64%. The numbers for otherwise identical leases of an '06 RAV4 Limited 4WD are 68% and 62%.

    Car_man
    Host
    Prices Paid Forums
  • suvgalsuvgal Member Posts: 39
    Hi Car_man,
    My dealership called today to offer a trade-in/early buyout (not sure how to refer to this) as they want my car for their used lot (I'm assuming they have a buyer here). I had a really bad lease (5 yrs/12K miles) - posted back then - should have paid total $12312 total ($342/36 mos)and instead will wind up paying $21900 ($365/60 mos)w/money down and I am already way over mileage so I'm excited about this opportunity. My question is have you heard of this happening before? They would pay off my lease and I would get a new lease - this time smarter - no money down, 15K/yr. I'm looking at the Rav4 Limited - leather, JBL, DL, moonroof. I was wondering what the residual and money factor are on it? Any deals also? Also, what would be a good deal to get back on my car - I'm looking for a straight trade in w/no money out of pocket - do they roll up my unpaid into this or do they truly buy-off my car? I'm also willing to go for either the 2006 or 2007 model. I am planning on going in Monday to talk about this so any help before then would be great. Sorry for the long post.
  • houstonrav4houstonrav4 Member Posts: 3
    I'm curious. How does the remote engine start work on Rav4? Once I start the engine, does the door open automatically? The dealer is telling me that I should start the engine (remote), then unlock door (which turns off the engine) and then re-start with the key.

    Your help would be greatly appreciated. Thanks.
  • lama88lama88 Member Posts: 6
    How is the sales tax figured when leasing in NY state, is it based the purchase price of the vehicle or the monthly payments?
  • rscotts54rscotts54 Member Posts: 47
    SUVGAL:
    Don't get too excited on your lease return. While it is possible that they really want your car back, they may just be "prospecting" to sell you a new car. In either case, it is very unlikely that they will end up taking the loss.

    Don't be surprised if they will pay off your old lease, but then roll the amount lost into the cost of your new car. You may end up with no down payment, but a lease that is based on (for example) paying $30K for a $25K car.

    Anyhow, please let us know how it works out.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lama88. I am not personally familiar with how sales tax is calculated on leased vehicles in New York, but you may be able to find out an answer to your question by visiting one of the following sites: New York State Department of Motor Vehicles or New York State Department of Taxation and Finance.

    Car_man
    Host
    Prices Paid Forum
  • shatzishatzi Member Posts: 15
    I am looking into leasing a 2007 Rav4 Limited 6 Cyl 4WD. The MSRP is $28,555, Invoice $25,878 (which includes leather and heated seats). I live in NY - Long Island. I do not plan on paying MSRP - more like invoice. They have a 2% holdback. What is the best monthly price I could get.

    In 2005, I bought a Toyota Limited 4Runner for a couple of hundred under invoice ($30,717)and am paying $419.73 per month, which I thought was a good deal. In looking over that receipt, I noticed they charged over $1,000 for an acquisition fee - what is the difference between an acquisition fee and desitination fee? Who determines what the acquisition fee is? Also, he charged a rent charge - what is this. How is this calculated.
  • ajfitzerajfitzer Member Posts: 30
    Car_man,

    I am stuck between the Outback2.5i (as a loyal subie owner) and a this truck.

    I was just offered today from a dealer in PA (I AM IN NJ), based on a MSRP of $22,350 and an Sale price of $21,980, of $320/month for 36 months, with 12K miles, and $1623 down (which covers 7% NJ Tax, $400 registration and title fees, and $320 for the first months payment).

    Car_man does this seem like a good deal??

    Thanks,
    ajfitz
  • lawnmowerlawnmower Member Posts: 35
    Car Man what is the 3 year residual and money factor on a V6 AWD Rav4. I am getting pretty good offers from Rockland Toyota in NY. 26,000-27,500 msrp depending on options from mid 300's including sales tax. this is why i shifted my focus away from the Pilot.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello shatzi. Toyota is not currently providing any lease support on the 2007 RAV4. 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 would be happy to use this program to estimate what this truck's lease payment should be like for you. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you want a 36 month lease with 15,5000 miles per year. I will also assume that you are able to get this truck for $500 over invoice. According to my calculations, if you were to lease a 2007 Toyota RAV4 Limited 4WD with an MSRP of $28,555 and a selling price of $26,378 through TFS right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $381. The problem with this estimate is that TFS only publishes vehicles' base residual values. It places limits upon what options can be residualized and caps on the ones that it allows. If the truck that you are interested in has any options, and I assume that it does, your monthly payment will probably be over $400.

    All banks charge an acquisition fee on leases, however $1,000 is way too high. I believe that Toyota Financial Services' current base lease acquisition fee is only $550. Dealers often try to mark acquisition fees up to add hidden profit to deals, so make sure that you don't pay any more than that. Your vehicle's rent charge is the interest portion of your lease payment.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HI ajfitz. I remember seeing your posts over on the Outback board. Let's take a look at the deal that you were offered on this truck. A base 2007 Toyota RAV4 4-cylinder 4WD has a spread of around $2,000 between its full MSRP and dealer invoice price. You were only offered a $370 discount on the specific truck that you are interested in. In my opinion, you should be able to do better than that. There's lots of competition in your area, you should shop around with a few other dealers.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, lawnmower. Toyota is not currently providing any sort of lease support on the 2007 RAV4 in your area. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor. The last time that I saw it its buy rate standard lease money factor was .00285 for consumers who qualify for its Tier 1+ credit tier. TFS' current 36 month, 15,000 mile per year residual value for a base 2007 RAV4 V6 AWD is 62%. The problem with this number is that TFS only publishes residual values for base vehicles without any options. It provides dealers with special lists of what options can be residualized and how much it allows. So this truck's effective residual value is probably several points lower than this.

    Car_man
    Host
    Prices Paid Forum
  • higushigus Member Posts: 4
    I'm located in Billings, MT. I am interested in leasing a 2007 Rav4 Limited 6 Cyl 4WD. Loaded with all the features the MSRP is right around $31,000. Assume that I will pay that amount with no down.

    What should I expect to have for a money factor and residual?

    The quotes that I've gotten from my local dealer pn a 36 month lease seem high on the payment ($515) and money factor (.0034) for someone with excellent credit.

    Conversely the residual seemed low at $16500.

    The dealer is saying that Toyota sets the money factor and the residual and he is unable to deal with me on anything. Is this true? Are these values accurate?

    They just don't add up right to me.

    Thanks!
  • alexstorealexstore Member Posts: 264
    Please let me know if we got a good deal:
    06 base V4 rav4 4x4 with 17" steel wheels for
    0 down and 330(all inclusive) per month for 39 month?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're in luck, higus. Toyota just introduced a special President's Day lease offer on the RAV4 in most of its regions. While the special lease money factor that is available through this promotion isn't amazing, it's better than the one that was available before it. this promotion is only available for the next couple of days. I don't recall exactly what the special money factor that is available through it is, but I believe that it's around .00245 or so for consumers who qualify for Toyota's Tier 1+ credit tier. The .00340 money factor that you were quoted is outrageous. You definitely should shop around with another dealer if there is one in your area. Toyota Financial Services' current residual value for a 36 month lease of a 2007 RAV4 Limited 4WD with 15,000 miles per year is 60%. The problem is that unlike most banks, TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized and caps on the ones that it allows. This makes it difficult to estimate what payments on vehicles leased through TFS should be.

    Car_man
    Host
    Prices Paid Forum
  • tdmarcumtdmarcum Member Posts: 1
    I am in Indianapolis, IN and am looking at a 2007 RAV4. It's a base model, list price about 22,500. I want to go in to the dealer and tell them what I want and not haggle. Based on what you know about residuals and money factor, do you think I could get a monthly payment of $300 (plus tax) or less with only first month down? I have excellent credit. Thanks.
Sign In or Register to comment.