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Comments
I am looking for the Market Scan rates for a $32,500 MSRP Prius, purchase price of $29,500 with 10K or 12K miles.
Can you let me know what the payment would be, money factor and residual? I would like to purchase soon given the situation going on
Maybe if they get desperate enough for sales, due to all of the recent turmoil, they will go ahead and include it like everyone else. Yet another reason why Toyota's lease program has historically been ridiculous in comparison to other brands. Might as well charge you an extra $50 a month for your cup holders while they are at it.
Could you please give me the numbers for a Prius IV w/NAV & Solar--12,000 miles/36 months in Southern California?
I have been told that the current MF is .00075. There seems to be some confusion out there regarding residuals though. Any info you have would be appreciated.
If you can get a better offer somewhere else, can you let me know too? thanks much!
I leased the other day. Picked up a III (JBL & Blue tooth, no nav) for 215 before tax, 236 after. 680 drive off for 1st month and DMV fees.
Found a good deal at Toyota Manhattan Beach and took it to Toyota Marina Del Rey and told them to beat it by 10 bucks a month or I'd walk. They refused. I got up to leave and they caved.
Not the 200 I wanted, but at 23195 purchase price, Truecar.com says I got it at 500 below invoice. I was frickin proud, I'll tell you.
cc_work@yahoo.com
Check out the 6th posting down on that link. Those are the deals she's offering at manhattan, that's what I took to Marina Toyota
Prius III with Solar, MSRP = $28600. Edmunds TMV for our area = $26719
With the 0.00075 MF, tax title license down and a residual of 72% gives a payment of $206 per month (no tax in Oregon).
If the residual is 63%, then the cost is $275. It looks like she's working with a lower residual than the 72%. I'll reverse the numbers back and see what it is. The high number is definitely available on the Prius II.
The Prius II should be coming in at around $185 per month with just the tax and title down.
All this is based on 36 months / 12,000 p.a.
if so it's pretty awsome
Trade in Valued at $11,600 (nobody else would give me over $9k for it, 10,500 maybe if I really pushed for it shopping around all over town). I got 9K in my pocket and reduced Sale Price (less tax)
Prius IV w/ solar + nav + mats metallic dark grey w/ dark grey interior - MSRP $31880
Sale Price of $100 over invoice (I saw the invoice) $29600, but reduced the Sale price to $27K range b/c of the trade in money...
MF .00075;36 month lease
purchased gaap insurance for $375 for 36 months (ok they made money here but toyota financial doesn't offer and if I got in an accident I didn't want to be stuck; I can cancel any month)
monthly payment of $309 including tax, title, doc fee of $45 and $650 acquisition fee which is standard for Toyota.
I feel good about this deal, it took 5 hours in the dealer to get b/c they kept on changing the numbers even in finance.. but well worth it. very happy with my choice
I got 215 before tax on a III (JBL Bluetooth) at 24,750 MSRP, 23195 purchase price, which is, according to truecar.com, almost 500 below invoice.
I think you might be calculating wrong. Also, don't forget the standard fee of 650 to lease. This adds 18 bucks a month.
Oh, and in Cali, we're getting the 71-72 resid on all the packages. But don't forget, this is based off the Toyota pre delivery MSRP. So a II's residual is based off the standard 22,800 MSRP = 16,416. I think the 3 is like 17,1.. something.
i am being quoted $257 for a prius 3 with heated seats, 1300 down, and 15/k miles.
i would LOVE to get the solar for under 300/month. im in mass, but wold happy go elsewhere for a good deal. let me know! thanks
Read the fine print on the Toyota offer at www.buyatoyota.com and you will see that the acquistion fee or bank fee is not listed in the exclusions of items not included in their offer, as it typically is.
I believe many car companies are waving the bank fee in this economy. I'm sure the same holds true for Mazda, Ford, Hyundai, etc....
That's just what I was told by dealers, who didn't seem to know as much about leasing as even me. Looking at my contract, there is no charge in the section it would be in, actually says N/A.
At the (supposedly) available 72% residual and 0.00075 money factor, the $206 is right on the nose. The point of contention at the moment is if the 72% applies to the III with solar or if the solar can't be fully residualized.
"Also, don't forget the standard fee of 650 to lease"
As mentioned, this is being waived by almost everyone. All I've been asked for so far as a down payment is the first months lease and the tax/title.
I used to write auto leases for a living so I do know where I'm coming from on this.
However, your point about the solar residual is pretty much what I was told before I went in to do my deal. I was just asking general lease questions with the guys on the lot, basically trying to ask them what the point in getting a II would be, if I could get a III or IV at the same residual %, the price couldn't be that far off. That's when they told me options don't residualize the same as the car.
So you will end up paying more for the options added even though the res is the same.
On the right side of a Quote breakdown, it says something like this...
Package II = Toyota MSRP 22800 (This is Toyota's base before 750 delivery and dealer added options.)
Residual = 16410
Package III Base (JBL audio + Bluetooth) = Toyota MSRP 23800
Residual = 17136
On the left side of the quote is the Dealer MSRP(Includes delivery and any options) and agreed upon Purchase price.
I'm not positive, but I'm pretty sure anything you add to the car after these bases (Left side) is not residualized at 72%.
Good luck, I hope you get the most you can for the least you can!
A big part of calculating your lease is the agreed upon price. Dealers get bonuses for moving cars and other incentives, and buy them from Toyota at a cost significantly lower than the MSRP.
Say the MSRP is 24,550 (after delivery fee) for a base III.
They dealer probably paid 23,000 -maybe less.
You get them to "sell" it to you at 23195
Well, $200 dollar profit doesn't go far. Once the deal is signed, Toyota gives them kickbacks.
Look at Truecar.com and you can get a better understanding of how bad the advertised deal actually is.
I was using the advertised deal as an example because it's a very similar cap price to your deal, and obviously the same money factor and residual, but your down and monthly payments are much lower. I was just wondering how you did it. When I try to get dealers down to a price like your cap, they tell me my payments will be about $10-15 more than yours a month.
Oh, and every dealer I've talked to insists that the bank acquisition fee will NOT be waived.
2010 Prius IV or V, 12K miles, top credit tier.
Also has anyone ever dealt with any dealers near Greenville SC.
Thanks!
It's not due at signing. I think that's where the other guys were confused as well. He even said that it wasn't in the fine print of this months offer, however, this months offer is for 229/month + 879 due at signing. Well, 879 - 229 = 650
It's not in the fine print cause it's hidden in the Drive off.
But again, you don't have to pay this upfront. They add it to the cap cost section of the contract, not the due at signing part.
As per my numbers, I'll just quote my contract for you:
Agreed Upon Price : 23195 (This is where it hurt them)
Gross Cap : 23890 (Acquisition fee 650 Doc fee 45 were the only additions).
My drive off was
236 first
333 DMV
92 cap reduc
9 tax on cap reduc
9 CA tire fee
about 680 out the door.
I got the base III. JBL Blue tooth, XM + mats, but NO nav.
I did not get gap insurance. I was planning on it, but I was told by a pretty honest dealer that it was just another way for them to get money out of you. On other cars it's worth it, but at these high residuals and low prices, the gap you would have to pay for a totaled vehicle is much lower than normal.
It really just came down to playing the dealers off each other.
I had an offer for 246, which was really good. I told the other dealer to beat it by 10 or I'd walk. So he had to come up with an additional 328, or so, off the price, or lose me.
TFS' current residual value percentage for a 36 month lease of any 2010 Prius with 12,000 miles per year is an astounding 70%. The problem is that this residual value percentage is not nearly as attractive as it appears at first glance. TFS places restrictions upon what options can be residualized. This makes it difficult to estimate lease payments and makes its effective residuals lower than they appear at first glance.
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can you please tell me which toyota dealer you got this car and maybe salesman
name and #
thank you
I would definitely go for the III over the two. The sound system is great and bluetooth is very convenient. In the end, I think it's worth the 360 bucks over term.
My deal was 236, 680 drive off (which includes first month). That's after Taxes. I'm around 215 before taxes, but I'm in cali, so they may be higher here than where you are. I have seen better deals than mine across the country, but none in Cali. Everything here has a cost of living increase on it, which effects the dealers as well.
My advice: Take your time and sell your car yourself. I had a 95 jeep that every dealer offered 3500 for. I got 6500 privately (Old jeeps hold their value better than a Prius, ha.) They probably wouldn't offer 2k for a car unless they thought they could get 3 for it. This is also up for negotiation.
Also, having the other car will keep you from rushing into any bad ideas, and gives you leverage -- you don't "need" a Prius, you would just like to have one, this makes dealers try a bit harder to earn your business.
Good luck.
I went from driving a Jeep wrangler with no blind spots at all, to a prius with some minor awkward ones.
Just gotta pay a little better attention, no biggie.
As far as driving goes, I've only driven jeeps from the mid 90s, so, to me, every car I drive handles like a dream.
When I first started looking into cars to lease, the corolla was my first target. I went to a dealer and they offered me 0 down 220 a month. I thought, wow, that's a pretty good deal. I went home and started researching how leases worked. I saw that residual value was the main factor in determining the lease. I looked at the other toyota cars and couldn't believe the difference between them. These prius residuals are insane, compared to the rest of the market.
So, I looked at all three - Corolla, Camry, Prius.
Corolla - Car feels like the interior is a cheap plastic toy that snaps together.
Camry - nice reliable/typical car
Prius - Gimmicky yet interesting at bargain barrel price.
In the end, you want a lease at a great month to month price, but many people forget to add the other monthly factors on; Camry insurance is higher than Prius, also Camry mpg is half that of the prius.
I chose to take the prius over the camry because in the end, it was cheaper overall.
Not disapointed so far. Also, hatchbacks with flattening rear seats feel like you've got a small, carpetted truck. It's so frigin convenient.
The best quote I got today was
$22,750 selling price (CAP)
$628 drive off incl. 1st month
$231/mo + taxes ($253 incl tax).
12K annual mileage/36 mo.
MF .00143 (top tier)
Residual Value 17,136
Your selling price was higher than mine, so why are my monthly payments more?
Others have mentioned a MF of .00075... why is mine .00143?
Can I just ask for a lower MF?
What other fees will I be charged at signing? Just the $628?
Thanks!
Your MF is not the promo money factor. The .00075 should be good for the rest of march and a couple days in April. Your residual value seems to be the promotional one, so it's weird that they would not quote you the .00075 mf.
You'd be paying 3.4% interest as opposed to the 1.8% that everyone else is getting, hence the higher payments. You should definitely ask them about it, and if they aren't honoring it, I'd fine another dealer.
If they quoted you 628 drive off, then that's all you'll pay at signing. They have already rolled the acquisition fee and anything else into your monthly payment of 231.
Good luck.
Is the promo MF of .00075 in writing anywhere on the web that I can reference in my negotiations?
The salesperson showed me a xeroxed worksheet that had $750 cash back.. or a special interest rate for purchase... or a MF of .00143 for top tier. I definitely want the .00075 if it's available and am ready to sign before the end of the month if I can get it! Also he was adamant that it was $750 OR the special lease rate (.00143).
Lastly, did you add the $650 bank fee to your CAP cost or did you pay it upfront so you don't pay interest on it over the 36 months?
Thanks!
Try this page. It's even a PDF so you can print it. It is for OR though, not CA, although I believe the promotion is the same.
http://www.griffithtoyota.com/New_Toyota_Underwood_OR.html
Then again on that, there is no mention of the $750 cash back on the Prius.
I went to three separate dealers here in SoCal and they were all working with the .00075 promo mf. It's actually Toyota financial services who sets all these guidelines. Your dealer will sell it to them at these rates. It's a possibility that they are going through another bank or leasing program for their deals.
I thought about paying off the 650 at signing, but decided to just keep it and pay the 1.8% on it over 36 months. It's not that much to have an extra 650 in your account.
I am now seriously considering getting the car in SoCal. It would save me over $900 over the life of the lease (if I can get the same CAP cost), and even with a ticket to LAX I would come out ahead.
Saturnius, were you treated fairly and honestly by your dealer? Would you recommend them?
I will also try to see if my local dealer will match the SoCal deal.