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2013 and earlier Toyota RAV4 Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tdmarcum. I have not personally seen Toyota's lease program for the 2007 RAV4 for your area recently. It's difficult to say whether you would be able to get the truck that you are interested in for around $300 per month with nothing down. I have a feeling that it would be close to that, but perhaps slightly more.

    Car_man
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  • dave_h2dave_h2 Member Posts: 100
    I'm looking to lease a new Rav 4 soon and would like to hear from anyone about any recent leasing experiences.

    FYI - I live on Long Island, NY - and that is where I will be getting the vehicle from. I plan on getting quotes from internet sales managers first, before going in to the dealership and following up that way.

    Any advice would be most appreciated. :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dave. My advise is to shop around for the lowest selling price that you can get on the RAV4 that you want and then have the dealer that gives you the best price calculate your truck's monthly payment using its buy rate lease money factor. You should be able to get a pretty good price on this truck, given the high level of competition in the New York area. Toyota Financial Services' current buy rate lease money factor for a 36 month lease of an '07 RAV4 in your area, its New York region, is currently .00236 for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • dave_h2dave_h2 Member Posts: 100
    Thanks for the money-factor number, Car Man.

    Any chance someone could go into Santa Fe Lease Questions topic and provide similar information? The tumbleweeds in there are beginning to worry me.
  • jerhotjerhot Member Posts: 27
    Hi Car Man,

    I am looking to lease a base RAV4 automatic with 4 cyl engine. With alloy wheels, roof rack, daytime running lights, and destination charges, the base MSRP goes from $20,950 to $22,415. The invoice for this is $20,679. Can you please give me the money factor and residual value for a 3yr./12k lease? Please use the May numbers!

    Thanks!
  • raveebraveeb Member Posts: 5
    Hi Carman,

    I am plannig to lease a base model RAV 4 , 4 WD with follwoing options:
    AM/FM/6 cd changer
    Carpet floor mats
    DRL
    The TMV price is : $21,769.00 and the invoice : $21,165.00
    Its a 36 motnhs lease, 12000miles.
    What should be my montly payment with zero down..please help me .
    Thanks
    Ravee
  • finbar_oharafinbar_ohara Member Posts: 29
    Car_man- I intend to acquire a 2007 RAV4 Limited V6 4x4 with most popular options. MSRP will be in the range of 28,000, Invoice ~26,000, TMV = 26,600. Location = MI.

    Assuming 15,000 miles per year, 36 month term and a residual of .59 (.62 minus lesser residualized options), what should be the pre-tax cost of the prepaid lease?

    I assume the money factor is close to zero in this case, right?

    Kind regards,
    Fin
  • haewallihaewalli Member Posts: 19
    I was wondering if there is any new lease data info on Toyota Rav4's.

    I see on television that there have been some commericals promoting leases on Rav4's.

    Has the residuals and money factors changed now that it is the month of May?

    Are there any new incentives?
  • shatzishatzi Member Posts: 15
    Car Man,

    Thanks for responding. I am now about to look at a Rav4 4WD Limited lease as Toyota is willing to take my 4Runner back early. I am looking at a 3 yr lease, no money down, 15K miles per year. I am interested in adding in the leather heated seats and possibly the JBL sound system. I have an appt. w/the sales manager next Saturday. Any advice you could give me would be appreciated.

    According to Edmunds, the invoice price w/the options for the 4 Cyl is $24,707 and $26,449 for the V6. This does include the destination charge of $645 and a regional adjustment of $176.

    Thanks.

    BTW: I live in Long Island, NY if that matters.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, dave_h2. I believe that I hit the Santa Fe leasing discussion the other day so I've hopefully answered your question already.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jerhot. Toyota's lease money factors vary by region. I would be happy to give you an idea of what the RAV4's lease program is like right now, but in order for me to provide you with accurate info I need to know what state you are in. For now I can tell you what this vehicle's residual value is. The residuals are the same in most areas. Toyota Financial Services' current 36 month, 12,000 mile per year residual value for a base 2007 RAV4 4WD is 63%. The reason why this resid looks so high is TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized, making vehicles' real world resids lower.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ravee. Unfortunately, it is difficult for me to estimate what monthly payments should be for vehicles leased through Toyota Financial Services. This is because it only publishes residual values for base vehicles. It places restrictions upon which options can be residualized. The calculation of vehicles' actual residual values is so complicated that Toyota provides dealers with lists of the actual dollar residuals for vehicles that they have in stock rather than having them calculate them. My advise is to negotiate as low a selling price as possible on the RAV4 that you want and then have the dealer that gives you that price calculate its monthly payment using TFS' buy rate lease money factor. If you tell me what state you are in I may be able to give you an idea of what this truck's money factor should be like right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Unfortunately, Fin, your assumption is incorrect. In fact, Toyota is not providing any lease money factor support on the RAV4 in most regions. The lowest money factor that I have seen for this truck is in Toyota's New York region where it is offering .00236, which is equivalent to an interest rate of around 5.67%. Consumers who want to lease this truck in most other areas will have to pay Toyota Financial Services' standard lease money factor, which is even higher than that, probably more like .00285.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi haewalli. Toyota isn't providing much lease support on the RAV4 right now. Its lease program varies by region. If you tell me what state you are in I will be happy to try to give you an idea of what this truck's current program is like in your area right now. As far as other incentives go, I have not seen any cash or special financing offers on the '07 RAV4 yet this month.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, shatzi. My best advice to anyone who is interested in leasing a new vehicle is to shop around and negotiate as low a selling price as possible on the model that they want. Once you have a selling price that you are happy with, the closer it is to dealer invoice the better, have the dealer calculate your lease payment using Toyota Financial Services' (or whichever bank you are planning on leasing through) buy rate lease money factor. In your area, Toyota's New York region, TFS' current buy rate lease money factor for the 2007 RAV4 is .00236 for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • mickeymouse1mickeymouse1 Member Posts: 49
    HAS ANYONE RECEIVED QUOTES ON A TOYOTA RAV 4 LEASE..JUST CURIOUS!!
  • yosifactoryosifactor Member Posts: 1
    Hi,

    I'm considering leasing a RAV4 4wd 4cyl base with option a ($520). Currently, there is an offer for $249 Tier 1, $2199 due at signing + title,tax,acquisition, and registration. If that is the promotion for Tier 1, what can someone expect to pay with Fair credit standings? Fico 600-620?

    I would like to lease this vehicle for $225/month. I have some case available for upfront fees and down payment. What is the best and realistic options do I have?

    Thank you!!
  • david_opdavid_op Member Posts: 1
    I walked out of Elmhurst (Illinois) Toyota a few hours ago.

    Black RAV4 base w. V6, 3rd row, towing pkg, roof rack, on the lot. MSRP $24999

    Negotiated $23400 sell then asked to write up 24 or 36 mo. lease.

    Apparently TMCC only does 24 months with 30K miles. Residual around 60%. My other choice was a 36 month 36K miles, residual 54%. In either case, monthly payment looked more like a loan.

    A good portion of my decision to look at the RAV4 were the high residuals from ALG. I don't see these from TMCC.
  • witt168witt168 Member Posts: 23
    Hi Car_Man,

    Does Toyota has any lease support in Aug?

    I'm looking for a 2007 RAV4 w FE/EJ/CD/RL/SR/CF in Cal.

    Does anybody has just lease one lately?
  • leasearav4leasearav4 Member Posts: 15
    Hi,

    I am pretty clueless when it comes to leasing and was wondering if someone could give me the numbers I am to look for/get for a 2007 Rav4, 4x2, Sport. Looking for at least 3/4 year lease.

    What is invoice?
    What are the money factors?
    How do I calculate what my payment should be with the money factors?
    Anything else I should know?

    Thanks so much.

    Kevin
  • delta737hdelta737h Member Posts: 626
    Kevin,

    The formula to compute monthly payments is...

    payment w/o tax = MF X (AC + RV) + (AC - RV)/Term (months

    where:

    MF = Money Factor
    AC = Adjusted Capitalized Cost
    RV = Residual Value

    RV = Residual Factor x Adjusted MSRP

    You ALWAYS negotiate Selling price first. This is called the Agreed Upon Value. Next, add to this any amounts you wish to finance in the lease (e.g., acquisition fee, etc.). This sum is the Gross Capitalized Cost. From the Gross, deduct any trade credit or cash down (called capitalized cost reduction). The difference is called the adjusted capitalized cost. The residual vaue is the estimated future wholesale value at lease end. Many finance captives will artificially inflate residuals in order to keep the payment low.

    I suggest completing a one page lease proposal similar to the one below and FAX/email it to your dealer. This will save time, money, and aggravation. Remember, though, that this is ONLY AN EXAMPLE. Tax treatment may be different for your state. You'll need to get pricing data, including MSRP and invoice, from edmunds.com or kbb.com. At edmunds, go to the home page and click on new cars and select the desired car.

    Lease Proposal

    Pricing Information

    Base MSRP 2007Infinity G35x Coupe (3.50L 6cyl 5A)…..…..….……………… 33,950.00

    Premium Package.........................................................................- - - - - - - - - - - ............. 2,150.00
    Navigation Pack............................................................................- - - - - - - - - - - ............. 2,100.00
    Chrome Wheels..........................................................................- - - - - - - - - - - ............... 1,440.00

    Destination Charge……………………………………………………………………… 715.00

    MSRP………………………………………………………………..……..…….…… 40,665.00

    Lease Payment Calculation

    Agreed Upon Value……………………………………………………………..……… 37,202.23

    Acquisition Fee…………………………………….....…………………………………… 595.00

    Gross Capitalized Cost………………………………………………………………… 37,797.23
    Trade Credit..........................................................................- - - - - - - - - - - ........................ 8,000.00
    Adjusted Capitalized Cost………..……..…....………..……..……………………… 29,797.23

    Residual Factor………………………………………………..………………………… 0.52

    Residual Value (Res. Factor × MSRP)…………………..………………………… 21,145.00

    IFS Money Factor…………………………………….………………………………… 0.00195

    Term (months)…………………………………………………………………………… 39

    Base Monthly Lease Payment…………………………………..…………………….…. 321.19
    State Sales Tax 7.00%...........................................................................- - - - - - - - - - - ............. 22.48
    Monthly Lease Payment w/Tax…………………………..………………………………. 343.67

    Initial Lease Charges

    Title, Registration, Plates (estimated)……………..………………………………….. 150.00
    1st. Payment……………………………………………………………………………... 343.67
    Security Deposit.........................................................................- - - - - - - - - - - ..................... 350.00
    Total due at lease signing……………………………..…………………….….……. 843.67

    GAP insurance protection is included in IFS lease.
    No Disposition Fee.
    Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.

    ________________________________________________________________________________- - - - _________

    The money factor syntax is 0.00XXX. For instance 0.00195 is sometimes called a one nine five money factor. You didn't provide your resident state and so I have no clue whether your state taxes the payment stream, Agreed Upon Value, total payments, etc. If you live in Florida, then there is no state sales tax.

    Hope this helps.

    John
    Medina, Ohio
  • leasearav4leasearav4 Member Posts: 15
    Wow. Great information. Really, thank you. (In the title, I say Im from Illinois, so yes, there is state tax)

    A few more questions if you have a few minutes:

    When you do a proposal like that, though, do you start with an agreed upon value of $100 over invoice? Where do you start when negotiating that value?

    Where do i find information such as acquisition fee, destination charge, residual factor, money factor, security deposit?

    How do I know what good money and residual factors are? The numbers mean nothing to me so how do I know a good one?

    Thanks again John. I truly appreciate your time and help.

    KEvin
  • leasearav4leasearav4 Member Posts: 15
    Also, if you do not plan on buying the car at the end of the lease, what difference does it make if they inflate the residual value to lower your payment? I mean, once the lease is over, and I have no intention of buying the car, why does it matter how much they inflated it as long as my payments were lower throughout the lease??? Am I missing something?
  • leasearav4leasearav4 Member Posts: 15
    So I am looking at the 2007 RAV4 Sport 4x2, V6 with Mats and Moonroof. It looks like the Invoice is 24,100. Should I actually be shooting for 24,500 and below? What is the ceiling on this car?

    What EXACTLY should I be shooting for as far as an agreed up price (out the door price or the price + TTL, destination, etc), money and residual factors, etc.

    AGain, thanks so much to all. I am pretty much clueless on leases. Thanks.

    KEvin
  • delta737hdelta737h Member Posts: 626
    Kevin,

    You have asked some very good questions. Let me try to answer them.

    Regarding asking price, it's best to visit these forums to see what other people are asking. Also, check things like invoice pricing, cash incentives, etc., at edmunds.com. You have to get a handle on supply and demand. A few years ago, chrysler sebring convertibles were selling for no less than 115% of MSRP!!! Today, you can get an Infiniti G35 for $1500 under invoice! So, you just have to look at the message boards, research edmunds, etc., in order to get a good feel for asking price. If you're just not sure, always start a few hundred below invoice. It never hurts to ask. You can always go up but you can never go down.

    As far as money factors, residual factors, security deposits, and acquisition fees are concerned, call a few dealers and ask. Always ask for the money factor with 0% reserves. Reserves work in much the same way as points do on a mortgage loan. The fund provider compensates the dealer for writing the lease at a higher rate. For instance, a money factor of 0.00195 + 1% reserves means that the dealership receives 1% of the adjusted cap cost (excluding acquisition fee). A money factor of 0.00180 + 0% reserves means that the dealer receives nothing and so 0.00180 is called the buy rate or base rate. Always ask for the buy rate. Of course, it's also wise to visit the forums to see if this info is available.

    I just mentioned inflated residuals in passing. It's a benefit if you're leasing to lease because it lowers your payment. Residuals are set in stone and are non-negotiable.

    Hope this helps.

    John

    PS: I don't know how I could have missed Illinois!!! Do you live near Evanston??? I went to Northwestern.
  • leasearav4leasearav4 Member Posts: 15
    Not far from Evanston. Grew up in Park Ridge...went to Univ of Iowa so I am fellow Big 10'er (11).

    If residuals are set in stone, how come they can inflate them then?

    Also, searching these forums, I have yet to see any of these figures for the Rav4. Also thinking about the CR-v. Anyway, thanks for the info and ill try and track these figures down. Can I just call a few dealers and ask them?
  • delta737hdelta737h Member Posts: 626
    Sure, Kevin, you can call a few dealers. The fund provider sets the residuals. Once established, inflated or otherwise, they're set in granite.

    When I say inflated, I should have been more clear. The Automotive Lease Guide (ALG) is the standard by which all residuals are judged. The ALG is the industry standard; a benchmark if you will. Nearly every residual insurance carriers require banks to use the ALG. However, the finance captives generally are free to set whatever residual levels they choose as many self-insure their residuals. Google Automotive Lease Guide and do some exploring.

    If you have further questions, fire away.

    Good luck my friend.

    John

    PS: My son also went to Northwestern and now teaches math at Harper College in Palatine. He lives not very far from Wrigley field.
  • witt168witt168 Member Posts: 23
    Hi John,

    Thanks for your great input.

    I've got a quote for 2007 RAV4 SPORT W

    JBL/ TONNEAU COVER/ DAYTIME RUNNING LIGHTS/ POWER MOON ROOF/ CARPET FLOORMATS

    MSRP $25339

    QUOTE $22999

    I'm in California.

    Based on Edmund's info, this is $179.00 below invoice. I think $500.00 below invoice is what I'm looking for. Is this unrealistic?

    Based on the info above, what is the money factor? residual factor?

    Thanks.
  • witt168witt168 Member Posts: 23
    Thanks for your lease calculation formula.

    Here's what I have:

    2007 RAV4 Sport W JBL/Moon roof/Daytime running lights/Carpet floor mats/Tonneau Cover

    Selling price: $23,000

    Residual Value for 36 Months: $13890 (quote by dealer)

    Money factor: 0.00285 (quote by dealer)

    0.00285 X (23,000 + 13,890) + (23000 - 13890)/ 36 months

    Monthly payment: $256.00

    Is this correct?

    Thanks.
  • delta737hdelta737h Member Posts: 626
    witt,

    Assuming that (A) the sell price of 23,000 is the same as the adjusted cap cost and (B) the dealer's data is reliable; I arrive at the following...

    358.19 = 0.00285 X (23,000 + 13,890) + (23000 - 13890)/ 36 months

    So, our monthly payment differs. I don't know whether the money factor and residual are correct. You may want to double check them with other dealers.

    Good luck!

    John
  • leasearav4leasearav4 Member Posts: 15
    Interesting about Harper College. I work not far from there. Your son has a bit of a commute to Wrigley from there I imagine. Northwestern is top notch, obviously. Tried to get my wife to Harper but they didnt offer an HR Associates degree there but it is a very good CC.

    Anyway, I think we are turning our focus to the CR-V. Thanks for all the great info.
  • witt168witt168 Member Posts: 23
    Hi John,

    Thanks so much.

    Wonder if I need to change my calculator.

    I have inside info that one of Toyota dealer in Socal will go $1,000 under invoice. I'm trying to get it.

    Thanks again.
  • delta737hdelta737h Member Posts: 626
    Best of luck leasearav4 and witt. Please let me know if I can be of further assistance.

    Best,

    John
  • ks10596ks10596 Member Posts: 18
    Does any one have the current money factor and residual percentages for the 4 and 6 cyl - 12000 miles?
  • ftakftak Member Posts: 3
    Car_Man- Hoping you can help me out here. Relatively new to the leasing experience and was hoping for some pointers.

    Looking to lease a Rav4 Limited w/4WD, sunroof and 3rd row seat. TMV cost on Edmunds is $24,951 , invoice pirce of $24,561.

    A local dealer in NJ told me they would go $1,000 below invoice another says 1% profit.

    From what I've read, I should negotiate a price for the vehicle before bringing up a lease. What would a fair price for me to pay for the vehicle.

    And what would I expect to pay for a 36 month lease on something like this, putting as little money down as possible?

    Thanks!
  • ftakftak Member Posts: 3
    Made an error in my previous post so here is it revised- ( Can you only edit within a certain timeframe??)

    Revised - one dealer told me they would go $1,000 under invoice, another stated 1% over invoice.

    Rav4 Limited 4cyl, w/sunroof. Invoice price is $23795, TMV is $24152. What do you think a good price for me would be, and a good lease payment putting as little money down?

    I've read that I should negotiate a buy price first from the dealer. What is the best approach to tell the delaer I want to lease the vehicle using our negotiated price as the base?,
    Any help would be appreciated
  • leasearav4leasearav4 Member Posts: 15
    Any current figures for the 2007 RAV4 - FWD - SPORT V6 - 12k miles. Looks like invoice, before options is 22,605. What is residual and money factor for 36 months? 42 months? Also, do I have to add 500 for destination to this invoice price? Thanks.
  • bigpav7bigpav7 Member Posts: 9
    Hi all,
    I'm looking at a 4-cyl 4wd Rav4 Limited with the Leather package. The dealer offered it to me at Invoice, which as they state is $26,100. Can someone help calculate the payments on a 36 month, 36K mile lease? The monthly payments they are coming up with seem a bit too high = $399.00 with $1,500 up front including taxes and fees. thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi witt168. Toyota is providing lease support on the 2007 RAV4 in some of its regions this month, unfortunately I don't believe that Southern California is one of them. That means that if you want to lease this truck through Toyota Financial Services you will have to use its standard lease program. I don't believe that Toyota is providing lease support on the 2008 RAV in any region right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leasearav4. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You can look up the dealer invoice price of the RAV4 that you are interested in by visiting the following section of Edmunds.com: Edmunds.com - New Vehicle Pricing.

    I am not aware of any source that provides accurate information on manufacturers' current lease programs to the general public, but I can help you out. I don't believe that Toyota is currently providing lease support on the '07 RAV in its Chicago region. If this is indeed the case, and you were to lease one through Toyota Financial Services you would have to use its standard lease program. I have not seen TFS' buy rate standard money factor for your area lately, but I suspect that it is probably around .00250 to .00275 for consumers who qualify for its Tier 1+ credit tier. TFS' current residual value for a 36 month lease of an '07 RAV4 Sport 2WD with 15,000 miles per year is 56%. The problem is that TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized, making it difficult to calculate the actual dollar residual values for specific, well-equipped models.

    You can use the formula that is outline in the aforementioned article to calculate a lease payment on this truck, but again the residual value issue with TFS leases makes it difficult to do so.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey leasearav4. As you mentioned, high residual values result in low monthly payments, so the higher vehicles' residual values are, the better.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Kevin. Shoot for a selling price that is as close to dealer invoice as possible on the RAV that you are interested in. You may be able to get an idea of how much you will have to pay for one right now by checking out the following discussion: "Toyota RAV4 Prices Paid and Buying Experience".

    Toyota is providing lease support on this truck, but only in a few of its many regions. I would be happy to give you an idea of what its current program is like if you tell me what state you are in.

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  • aquintoaquinto Member Posts: 6
    I live just outside of Philadelphia in Glenside PA - I am looking at a AWD 4 Cyl Rav4 limited (2007) - the current money factor (September) is .00205 and the residual on this model for 36 months 12,000 miles is 57%. Just trying to get a dealers best price - invoice isn't a hard and fast number and it certainly doesn't match the "invoice" price on Edmunds (Edmunds is always lower). Will report back when I get a deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for sharing the details of your negotiations, aquinto. I look forward to hearing how everything turns out.

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  • aquintoaquinto Member Posts: 6
    I finally leased a RAV 4 last night, after a couple of months of research, discussions with dealers and walking out of dealerships. The vast majority of communication was done via email. There were discussions with at least 9 dealers and it is interesting how they operate. Ultimately I struck a deal with DEL Toyota in Thornton PA about an hours from where I live in Glenside PA. The whole process with DEL took less than 24 hours and the best part was approximately only 35 MINUTES in the dealership signing papers!!! DEL was the last dealer I contacted and I provided them with a monthly lease payment calculation and what I wanted to pay for up front (I didn't want any fees rolled into the lease - that way I could verify lease numbers to my calculation). I used the lease calculator on Edmunds - which is accurate despite what some dealers might tell you - the problem is the dealers throw in fees to try and bump up the monthly lease payment. Anyway...

    Leased a 2007 RAV 4 Pacific Blue 4 Cylinder Limited 4WD - only options daytime running lights and floor mats.

    36 month lease with Toyota Financial Services, 12,000 miles a year (apparently 15,000 miles a year is a 55% residual)

    MSRP $25,529, COST CAP (purchase price) $23,747.40, RESIDUAL $14,516.95 (57%), MONEY FACTOR .00205 (4.92%), PA lease tax 9% (on the monthly payment).

    Monthly payment including tax is $364.98.

    Up front fees 1st months payment of $364.98, acquisition fee $550 (no one would budge on this and some wanted to include it in the monthly lease payment), title $22.50, registration $36, license $10, Doc fee $55, tire fee $5, GAP insurance $200 (negotiated down from $400 - Toyota does not automatically include!), the remaining $73 dollars or so is tax on some of the above items - total out of pocket is $1,316

    This was the best deal I could work out and still be married and not drive myself crazy anymore.

    TIPS:

    1. Educate yourself on how a lease works - it is easy for dealers to move numbers around - most of them want you to say a monthly payment they will surprise surprise match it!

    2. If you have any intention of getting a good deal - SHOP AROUND.

    3. Dealers are more willing to negotiate if the car is on their lot rather than having to trade (example - I can walk to a Toyota dealer from my house(did not have the vehicle we wanted) but ended up buying an hour away (did have the vehicle we wanted).

    4. Don't be afraid to walk out of a dealer - I did and they still get in touch with you afterwards.

    5. I wasn't being unrealistic in what I wanted to pay - it became clear early on that the no one was coming close to the "invoice" price on Edmunds. I also wasn't looking to cut into dealer hold back.

    6. I not only wanted a price as low as I could get but I also wanted to know how the dealer got to his numbers.

    7. Overall, dealers do not appreciate an educated customer - DEL Toyota did and that is why they earned my business

    Let me know if there are any questions.
  • verdi942verdi942 Member Posts: 304
    Here in NY, TFS is advertising a "$2199 down/$249/mo" lease for a base FWD 4cyl. I found one as AWD and was quoted $3500 down and $389/mo! After 2 hours' haggling, I was offered a $2K down and $311/mo 36 mo. lease with 15Kmi/yr. Cheesily, TFS wanted $6/mo for gap insurance! Should I take it? I must add that this month, there seems to be very little incentive support for any vehicle like the RAV4.
  • friendlyleaserfriendlyleaser Member Posts: 3
    I am curious what the money factor and residual % for a 2008 Rav4 in Chicagoland Area, Illinois should be?

    Looking at a 36 month 15,000 mile a year lease of a 2008 Rav4 4x4 base silver with 17 in Wheels, 50 state emissions, roof rails, daytime running lights and a third row seat.

    Appreciate your help.
  • boholanoboholano Member Posts: 1
    RAV4 2008 V6 Base priced at 2730

    4 year lease with a 12000 miles per year and no money down. There offer was 530 for 48 months. Is this reasonable? I live in North wales PA. Thank you very much.
  • friendlyleaserfriendlyleaser Member Posts: 3
    When you say no money down are you not including the first lease payment and security deposit?

    I think this deal is not very good. When you goto Toyota's website and build a 2008 Rav4 V6 in North Wales PA, you can not get the MSRP up to $27,300. But when you estimate payments on a lease on their website with a rav4 v6 at 26,900 you get a payment of around $383 (although you need to add in tax, but that would only be $30-$40.) Since your goal should be under msrp and $530 seems like over msrp that is not a good deal at all. (as long as your credit is good)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RAV, aquinto. Thanks for taking the time to post such a detailed message about your lease. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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