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Toyota Sienna Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi biffster. What state are you in? Toyota has started introducing lease support on the 2008 Sienna in some regions. If there is no support available on it in your area yet, I suspect that there will be in the next couple of months.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • biffsterbiffster Member Posts: 7
    I'm in Northern California. I suspect, given the support on other 2008 Toyota models in my region currently, that November might see some deals soon!
  • iamrohailiamrohail Member Posts: 1
    I am getting a deal for a 2008 Sienna LE for 314 a month with $1700 down. Is this a good deal? With $1000 down its closer to $340 a month. this is in Indiana. The dealer said that the money factor has gone up for a Sienna which is the reason he cannot offer as good a deal as he did last year.
  • alfstinky1alfstinky1 Member Posts: 92
    Hi Carman, any idea what the Nov. Toyota buy rate numbers are for an 08 LE 36 month 12K lease are. Thank you.
  • jedijoodjedijood Member Posts: 2
    I recently went to Prestige Toyota in Ramsey, NJ regarding the nationally adveritsed 2008 Sienna Lease deal.

    The current national deal is $249/month for 36 months, $2199 down not including tax title, registration, license.

    They offered me the following lease deal:

    2008 CE 7 Passenger $239.month, $4000 down (includes all fees) Gap Insurance Included
    2008 LE 8 Passenger $259 month, $4000 down (includes all fees) Gap Insurance Included

    Part of the down can be rolled accordingly into the monthly by dividing how much you want to take off the down by 36 months. So I was leaning for the LE 8 passenger deal chopping it down to $2000 down and upping the monthly to $314 a month.

    It seems like a good deal and prestige is telling me this is highly aggressive based on the national campaign. I am about to go to Glen Toyota tonight and see if they could do better, but wondering anyone had any input regarding the current nationally lease deal on the 2008 Sienna. Should I jump at this? Or take a look at another dealer?
  • njsiennanjsienna Member Posts: 2
    I am shopping for Sienna XLE Limited AWD to lease for 36 months 12k miles.
    with option package QL( AKA option package #2) and HZ package.

    I have the following offers for zero down, tax tags everything included. Zero out of pocket:

    For In-stock colors: $605 a month for 35 months.

    For Pearl White color I want: $617 to $650 a month for 35 months.

    Are these good deals? Anything better, please post.
  • rlmiller9rlmiller9 Member Posts: 48
    That seems high to me, what are they using for a price of the vehicle ?
    After 35 months you will have paid them over 21,000
    Not sure how much driving you do, but 12k miles a year is not alot and if you go over that is more money.

    You can lease a Mercedes for that kind of $
  • countrydrivercountrydriver Member Posts: 3
    Happy Holidays!
    I recently came into a very small inheritance and am now able to purchase my van.
    I am just not sure if it makes sense or not.
    I own a 2005 Toyota Sienna XLE which is selling locally around $33,000cdn.
    My current buyout value is $28,000 plus 15% tax and I am paying $661/mth and halfway through the lease term.
    Any thought or ideas of the pros and cons of buying this lease out early.

    Thank-you kindly.

    CD :confuse:
  • foxyesqfoxyesq Member Posts: 26
    That sounds way high. I just leased a Sienna XLE Limited AWD with Option Package No. 2 with tow prep. and daytime running lights. MSRP $41,024 (with metallic paint).
    $545 month (including tax)
    $1,650 at signing (includes MVC fees, bank fee and first month).

    Glen Motors, Fairlawn NJ.

    They were also very fair on my trade.

    Prestige Toyota (Ramsey, NJ) wanted $570 per month for similar car (but without metallic paint or tow package) or $527 with $3,000 at signing and offered $1,250 less for my trade.

    For more on Glen Toyota's pricing (and the name of the particular salesman) see posts by urnabnomad and svofan2 (and thanks to them for shedding the light on this dealership). :shades:
  • ballhoggballhogg Member Posts: 38
    Do NOT buy your car!! Think about it this way - if you "invest" ~$30K in your 3 year old car, it will be worth about half of that in another three years. Do you think getting a -50% return on your money is a good idea? At the very least put the money in a savings account and use the interest to help pay off your monthly payments. A car is the WORST "investment" you could make.
  • countrydrivercountrydriver Member Posts: 3
    Thanks for your thoughts ballhog!

    The reason that I am thinking about buying it out is so that I can sell it privately and purchase the "08 Sequoia.

    I know that trading in a leased car is never a good idea - so that is why I thought about this scenerio.

    your thoughts?

    L
  • tifightertifighter Member Posts: 3,591
    Car man (or others)-

    Any info on the current money factor/residual etc for the Sienna (LE AWD) this month from TFS?

    23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd

  • hause7hause7 Member Posts: 153
    What is the residual value? the trade-in, retail, or private party? How can you figure it out? i want to work out lease payments on an 08 Limited.
  • ballhoggballhogg Member Posts: 38
    Hmmmm.....IF you really want the Sequoia, try to line up a buyer for your Sienna BEFORE you actually buy it out. One of the main reasons why I lease is so that I don't have to deal with the hassles of selling a car. It's not easy, especially at that price point. I had a 3 year old Accord in mint condition and it took me a while to sell it.

    I'm not familiar with Canadian tax laws (just the casinos and gentlemen's clubs ;-) but do you have to pay 15% for buying out the lease or that the standard tax for buying a car? That still seems like a lot.

    $30K invested with a 12% return will double in 6 years, just something to think about.
  • bsc99bsc99 Member Posts: 9
    Can I please get the latest Buy Rate MF & Residual for a 2008 Sienna XLE FWD with Package #2 for 36 Months @ 12K Mi per year (Tier 1+)? I will share my Northern NJ negotiating experiences shortly.

    Thanks / much appreciated
  • bsc99bsc99 Member Posts: 9
    Bump - Can anyone assist the numbers referenced above (for March, 08)?

    Thx
  • gforce4gforce4 Member Posts: 4
    I'm planning on leasing a Sienna LE for 3 years and need to know the money factor and the residual $ (or amount) in the Philly, PA area.

    LE
    3ys lease; 15k/yr
    $4,200 in packages
    MSRP for all was $31,082
    Next offer was for $28,084 includes all except 1st mt pmt and tags. Down payment factored in with a monthly pmt of $499.

    Is this a good deal??
    What is the Money Factor & Residual for this van??

    Help!
  • mnandamnanda Member Posts: 2
    I anticipate leasing (24m) above with Pkg #2, daytime lights and cruise/HID lights with MSRP $41669. Fitz mall has an internet cap cost(selling price) of $36370 + $99 in fees with money factor of .00138 (3.3%). The exact payment $ is simply a derivative of the above ( plus residual %) so it is not my main concern. Is the selling price and lease interest rate as good as it gets? I am told rebates do not apply to this transaction because it is a lease. Is this true?

    Does this car only come with run flat tires and is that a problem?
  • irgirg Member Posts: 197
    I have a 2005 Sienna XLE (base) that is up at the end of April. I have only 17k miles on it, with a lease of 12k per year. Will the dealer give me a better deal on a new lease, or some incentive for returning a vehicle with such low mileage (and good condition) or am I just giving the dealer a nice profit when they resell it? The buyout price is $18,xxx and it isn't worth it for me, but maybe if I negotiated a better price, I could sell it myself, and take the profits. Anyone do this? Who do I negotiate, with Toyota Financial? Or a local dealer? Doubtful that a local dealer could sell this van for more than $18k, so they must get a deal somewhere. ANy advice would be welcome.
  • irgirg Member Posts: 197
    Is anyone leasing a Sienna these days? How are they comparing to the Odyssey? I see ending today that financing for a Sienna is very good, but I don't see any lease deals, wonder why. Maybe next month?
  • irgirg Member Posts: 197
    I got a quote from Fitzmall, where I leased from before, on a Sienna LE, package #2, alloys, floormats. Price is $24,981 (1,000 from Toyota does not count on leases apparently), residual is $14,859 (is that 59%?), with a money factor of .00103. Forget how to convert that to a %. Payments came to $344, but taxes (I'm in NYS, Fitzmall is in Maryland) due upfront of $1,430. If I divide that by 36 months, that adds $39 to the monthly lease, for $388 a month, not that good imo. I can get a Honda Odyssey for $358 includes all taxes. Last time I couldn't get the Odyssey lease to equal the Sienna, and now it is the other away around. The only thing with the Fitzmall lease, that $1430 that is due, last time I leased, they sent me a check about a month later for a similar amount, so I am not sure whether they've done this right or not.
  • irgirg Member Posts: 197
    I was told my Fitzmall the same thing, that the rebates didn't apply. I'm finding the Odyssey EX models lease better than the Sienna.

    As far as the AWD models, I had a friend who owned one, and had a ton of problems with it. Eventually Toyota replaced (and paid for) all new tires and wheels, yeah the wheels needed to be replaced as well, and they replace a lot of suspension parts in the front too. According to CR, the Sienna has been more reliable than the Odyssey. The Ody also has issues with the PAX tires. I got some snow tires on my regular XLE Sienna, and never got stuck.
  • nosher1nosher1 Member Posts: 1
    Hello,
    I priced out a basically full loaded XLE Limited for about $40,500. I filled out the Edmunds form and had 4 dealerships contact me. Everyone is offering the car for around $35,000 (at or slightly below invoice). I got quotes for a 3 year lease with zero down, and inceptions all rolled in (that means the only payment I make at signing in the first month's lease payment). Everyone is quoting in the $660 to $680 per month range for a $36 month lease. That seems a bit pricey for a $35,000 van, doesn't it? Has anyone out there leased a similarly priced Sienna? What did you pay?
    Thanks!
  • carbuyerkagcarbuyerkag Member Posts: 2
    I am interested in leasing a 2008 Sienna either CE or LE 8 or LE 7 (package 1 or package 2) PA Resident.
    I leased a 2005 Toyota Sienna CE in May 2005 PA resident.
    I am not sure that I got a good deal then so I would like to start by having you review my last lease to show me the pros and cons of my last lease deal.
    $3,752.25 due at lease signing
    $229.05 for 35 months total $8,245.80
    Total Payments at end of lease $11,769

    Gross Capitalized cost $22,445
    Capitalized Cost Reduction $2,381.15
    Adjusted Capitalized Cost $20,063.85
    Residual Value $14,489
    Depreciation and Amortized $5,574.85
    Rent Charge $1,990.08
    Total of Base Monthly Payments $7,564.93
    Lease Payments (36) $210.14 Monthly Sales $18.91
    Total Monthly Payment $229.05

    Breakdown of $3,752.25
    Capitalized Cost Reducton $2,381.15
    1st Month $229.05
    Title Fees $22.50
    Registration Fees $36
    License Fees $24
    Tax on Capitalized Cost Reduction $214.30
    Acquition Fee $400
    Doc Fee $55
    Gap Insurance / Sales Tax $390.25 (325 / 75.25)

    6/3/05
    Pricing Report from Edmunds
    MSRP $23,425 plus $470 package 1 and $565 destination charge
    Invoice $21,082 plus $376 package 1 and $565 destination charge
    Others Paying $22,035 $62 regional adjustment, $417 package 1; color adjustment $44; Destination charge 565

    Sticker info
    2005/5326C
    MSRP $23,425
    Package 1 $470
    Carpet Floor mats / door sill protector $196
    Destination Charge $565
    Total $24,656

    Thank you in advance for your assistance.
  • carbuyerkagcarbuyerkag Member Posts: 2
    additional info
    2005 lease was 3 yr; 45K (15K per year)
  • dacarpenterdacarpenter Member Posts: 10
    Hey, everybody, was wondering if somebody getting better lease for 08 Sienna LE with AL,QF,CF,FE,RL in Chicago land than $360 a month (36/36000 with $550 due at signing; $360 includes everything). Cap cost is $25,797. Got 360 from two dealers after emailing for two months. Just need your thoughts on this.
  • napabpnapabp Member Posts: 1
    what is the best money factor and residual you have found on a Sienna lease (XLE AWD)? I'm in northern ca.
  • andy2812andy2812 Member Posts: 73
    Hi Car_man

    Can you please get me the 36 month/15K MF and Residual for the 08 Sienna AWD, XLE and LE trim line.

    Thanks
    Andy
  • andy2812andy2812 Member Posts: 73
    Hi Car_man

    Can you please get me the 36 month/12K MF and Residual for the 08 Sienna FWD, XLE and LE trim line. You can ignore my prior post asking for the AWD lease rates.

    Thanks
    Andy
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi andy2812. Toyota's lease program for the 2008 Sienna varies by region. The most common buy rate lease money factor for this van is .00103 for consumers who qualify for its Tier 1+ credit tier, but again this number will vary depending upon which one of Toyota's twelve regions you are in. Toyota Financial Services' current 36 month, 12,000 mile per year residual value for the '08 Sienna LE is 54%. The residual for an otherwise identical lease of an '08 Sienna XLE is 52%.

    Keep in mind though that TFS places restrictions upon what options can be residualized. This makes it very difficult to calculate the actual dollar residual values for vehicles, so much so that Toyota provides dealers with lists of the residual values for the units that they have in inventory instead of having them calculate them on their own. As a result, it is difficult for consumers to estimate what lease payments should be on Toyota models.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tishntishn Member Posts: 4
    I'm thinking of leasing a Sienna XLE Lease- with AVP#1. I'd like 12K a year for 36 mos with no money down. If I negotiate a price on the car of 28,800...what would the lease work out to be? Monthly fee plus taxes (%6). I know the factor and residual are governed Nissan but I don't know what how to figure what the bottom line with be. Any help is GREATLY appreciated. Tks!
  • tishntishn Member Posts: 4
    Oops..meant to say governed by Toyota. Tks again :)
  • dabelesdabeles Member Posts: 1
    What am I doing wrong here...

    I'm trying to figure out the finance fee (rent charge) on a 2008 Toyota Sienna LE (option package #1). Gross Cap Cost roughly $26,585.

    The dealer told me the residual is $14,790 and the Money Factor is .00093.

    If I put down $1,000.00 that would make the Net Cap Cost 25,585, right?

    So, using the Edmunds formula, If I add the Net Cap Cost of $25,585 to the residual ($14,790) that gives me a sum of $40,375. Multiply that by the Money Factor of .00093 and you get 37.54. What am I doing wrong?
  • hause7hause7 Member Posts: 153
    Thinking of getting a Sienna Limited to get rid of our 08 Accord. We are also looking at leasing a 08 IS350 and posted that in the IS forum. Please help me out with monthly payments.

    We are looking at
    36 months
    12K miles a year
    0 down
    8.8% sales tax
    Excellent credit

    What monthly payment would that be?
  • coupedncalcoupedncal Member Posts: 252
    "So, using the Edmunds formula, If I add the Net Cap Cost of $25,585 to the residual ($14,790) that gives me a sum of $40,375. Multiply that by the Money Factor of .00093 and you get 37.54. What am I doing wrong?"

    Shouldn't you be subtracting residual from net cap cost? In lease, you only pay for the usage and in this case, usage is $25,585 minus $14,790 = $10,795. Add the money factor to this to get your monthly payment.
  • hause7hause7 Member Posts: 153
    What is the Sienna Limited FWD's lease residual value? what is the money factor for top tier credit?

    I want to figure out monthly payments.
  • maweissmaweiss Member Posts: 6
    Just sharing my experience on today's purchase :D

    2008 Sienna XLE FWD - 7 passengers
    Color: Gray Metallic
    Options: EVP Package# 3, 17" Alloy Wheels
    Lease for 36 Months
    15K Miles/year
    $800 OTD including first month's payment
    Monthly Payment: $499 including 7% Local Florida Sales Tax

    I believe this is a great deal for a car with MSRP of ~$34K.

    Good luck everyone!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hause7. Toyota Financial Services' lease program varies depending upon which one of its twelve regions you are in. You never mentioned what state you are shopping in, so for now I will provide you with Toyota's New York region program for the Sienna. If you let me know where you are, I can tell you what this van's exact program is in your neck of the woods. You never mentioned what term and mileage allowance you need either, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Sienna with 15,000 miles per year in its NY region are currently .00023 and 50%, respectively for consumers who qualify for its Tier 1+ credit tier. Keep in mind though that unlike most banks, TFS places restrictions upon what options can be residualized. This makes it very difficult to calculate vehicles' actual dollar residual values and it renders its residual value percentages practically useless.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Sienna, maweiss. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the Dealer Ratings & Reviews to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • needadviseneedadvise Member Posts: 1
    CARMAN: I live in Ohio and this is the offer I got on 2008 Sienna XLE Limited: MSRP:$ 40,323.00 sale price $35,789.00. For 36 months the payment is $596 a month with 12K miles a year with your fronts due a signing which amounts to $922.46. The front are your first payment, tax and tags. I need 15k a year for the miles. This look high to me. What should the lease payment be?
    Thanks alot for all you do!
  • eddieb5eddieb5 Member Posts: 1
    Can anyone provide the current best lease money factor available in eastern MA on a 2008 Sienna Ltd.
    Thanks.
  • aseetaseet Member Posts: 8
    just got a brand new 2008 sienna le evp #2 lease at south coast toyota from dave in internet sales 562-230-7690. what an honest gentleman!!! with 0 down only 404 per mo! for 36 mos, 12kmi, 15cents after that. the residual is super low too at $13700 in case we want to buy it or trade it in for some equity at the end of the lease. the deal is so good that once we did the math it didn't make sense for us to buy it even if we want it for more than 3 years.

    i checked out every other vehicle under 50k with 3 rows of seats, this is by far the best one out there - it is kinda the only one out there that met our requirements (easy and safe for our kids, easy to drive, comfortable ride, space for us and our gear even with all seats in use). all of the suv's were a disappointment and the honda is not as nice as the sienna. plus it has toyota's newer 3.5v6 that is silky smooth and powerful.

    it would be a mistake not to call dave in internet sales at south coast toyota in costa mesa, ca - he will give you the deal over the phone on the car your want. i needed a ride there and he picked me up (nobody wants to go car shopping on a friday night).
  • jengenejengene Member Posts: 1
    HI all
    New to the forum . I thought maybe you can help .
    My 2004 Sienna lease is up at the end of august ..
    Right now i pay $396.00 a month for the 48 months ,
    i called leasing company .. Buyout was 14,000.00
    however financing the vechile out would be $ 299.00 or 305.00
    I guess my question would be SHould we keep this car or just give it back and get a new one . (Finance a new one )
    MY point being is why pay 305.00 a month for a 4 year old car when i could pay 400 a month for a brand new one. ..
    ANother question is . Now when/if i give back my car to the leasing company not TOYOTA ..Can i do like a trade in or that has nothing to do with a lease..
    My husband keeps sasying if we give back the car now It was like we were renting it for tha last 4 years ..
    PLease help
    thanks in advance .. NOt sure what to do .
    jen
  • sienna13sienna13 Member Posts: 2
    HI Car Man

    My lease is up on my 2005 Sienna XLE LTD AWD. We had a great lease back in 2005 for with a very low lease factor. Currently, in the east bay, northern California, Toyota is offering a lease factor of .00093 which isn't bad, but it's not as good as the one I got back in August 2008. Do you know if there is a trend for lease rates to get better in August? The current lease factor of .00093 is only good until July 31st, so I don't know if I should lease now or take the gamble and wait until August for a better lease factor. Any suggestions?

    Thanks
  • hause7hause7 Member Posts: 153
    What is the residual value of a Sienna XLE? and the lease factor?
  • sienna13sienna13 Member Posts: 2
    the dealer told me the residual value on a XLE Ltd. AWD is about $ 18,000 after 36 months and the lease factor is .00093 which is about 2.23%
  • ix007ix007 Member Posts: 23
    Hey Car Guy,

    This forum is amazing and you and all the members are doing everyone an incredible service. That being said we are among the hundreds out there down-sizing from our full size SUV into a more economic mini-van segment. We are trying to decide between the Honda Odyessy EX-L NO RES and the Toyota Sienna EXL FWD

    36/months
    12K Miles/year

    MSRP $33,264
    Edmunds has the invoice at $29,391 (with destination)
    Includes:
    QH XLE Extra Value Package #2
    EJ JBL w/6-CD Changer, Bluetooth, Satellite
    TO Tow Prep Package
    PC Optional Color
    And some other option I can't remember but only $100-$200 or so

    CAP COST $30705
    +$795 Destination and $389 Doc Prep
    MF is .00103
    Residual is 50%??
    Supposedly it is 50% on the EXL but 52% on the Limited
    AND they are telling me they can NOT use the $2,000 dealer cash in combination with the low money factor.
    PAYMENT is $479+tax
    OTD $1,000 Down Payment

    I realize the math doesn't work with the down payment so I can tell they are trying to overcharge me there but I more concerned about the lower 50% residual (did it drop from last month?) and the over invoice CAP COST. How much room do dealers really have on 2008 Sienna's as compared to invoice and can they use the $2,000 dealer cash combined with the .00103 MF?

    If my wife didn't like the Sienna and how it drove so much more than the Odyssey, we would be buying the EX-L with a $32,845, $27,200 CAP COST, 55% residual and .00163 at MF, $0 Down and $425/month

    Thanks for all the input Car Guy.....And if any other members have some feedback, that would be welcomed as well. Thanks everyone
  • buttons99buttons99 Member Posts: 1
    I was hoping some of you might be able to share your experiences returning your leased sienna to Toyota. We are returning our first leased car and I'm super stressed about fees that they might charge us.

    We leased a Sienna LE in 2005 for 36 months ($376/month, $0 down). We have made our last payment and we need to return it this month. We are in the process of getting another car from Toyota, probably a Highlander, either buying or leasing it.

    What has other people's experience been returning their leased toyota in, in regards to charges and fees for excessive normal wear and tear? We have scratches on the outside (you can feel them in the paint), two of which are from being keyed by a rude neighbor. Inside, the upholstery looks pretty good, I used some spot remover on a few spots and I think it's in very good condition. The carpet is stained from living in the northeast during the winters. But what has me concerned the most are scratches/gauges in the hard plastic that covers the inside of the trunk/cargo area. I don't know how to fix them ourselves.

    Have other people taken their car in to be detailed before returning it at the end of the lease? We were just going to clean it as much as we could ourselves. Also, we have had regular oil changes on it, but we didn't take it in for the maintenace/tune ups like we should have (not planned- we bought the van because we had twins, and one of the twins has several medical problems, so all our money has been sunk into her medical bills). Will they charge us for that?

    I guess what I'm wondering is how picky toyota is with excessive wear charges if you are buying/leasing another vehicle from them?

    Would love to hear anyone else's experiences/charges, so I have a better idea of what to expect with this process... and the bill that I'm dreading will be sent our way.

    Thanks,
    R. Garand
  • awinnerawinner Member Posts: 27
    So what are the new lease specials in the so cal area.
    FWD, 3.5-Liter V6, XLE 7-passenger, 5-Speed Automatic $29,725
    Option C $4,390
    Exterior:Slate Metallic
    Interior:Stone Leather
    3 year lease, 12K miles,...what do you think should be fair.
  • marinitemarinite Member Posts: 44
    Ditto for the same van - except in NoCal... anyone have info? Money factors, residual ranges?

    Thanks,
    Marinite
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