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Toyota Prius Lease Questions



  • cluedweaselcluedweasel Posts: 150
    edited March 2010
    There are still no details on the actual numbers though. Lets look at what I'm after;

    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.
  • r u talking about without down payment?

    if so it's pretty awsome
  • In Santa Monica, my friend negotiated this deal for me on 3/13>

    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
  • saturniussaturnius Posts: 17
    I don't see you getting 206 at that MSRP.
    I got 215 before tax on a III (JBL Bluetooth) at 24,750 MSRP, 23195 purchase price, which is, according to, 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.
  • ickick Posts: 16
    Hi, BTW, can you tell me who you talked to from Marina Del Rey? Thanks
  • b14b14 Posts: 1
    where did you get this lease?
    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
  • saturniussaturnius Posts: 17
    Douglas Reid, I think. And Ihab. (eehab)
  • Toyota, just like Honda is with the Insight this month, is waving the standard $650 bank fee for leasing. You should not be paying that amount. That was pure profit for the dealer.

    Read the fine print on the Toyota offer at 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....
  • saturniussaturnius Posts: 17
    You're right.

    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.
  • cluedweaselcluedweasel Posts: 150
    Yep. I didn't pay a bank fee when I leased my Genesis Coupe in November.
  • capplacappla Posts: 29
    Hello - anyone know what the money factor and residuals are for a 3 yr lease with 15,000 miles per year in the Southeast Region on both the Prius III & IV models?
  • cluedweaselcluedweasel Posts: 150
    "I don't see you getting 206 at that MSRP"

    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.
  • saturniussaturnius Posts: 17
    I just put your numbers in the lease calc and came out with pretty much the same 206-208.

    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!
  • Saturnius, how does your deal work? I mean, the advertised lease for the II comes in at a cap just a couple of hundred more than yours, yet the monthly payments are $229, and the drive off is $879. For about the same cap price, how do your numbers come in so much lower? Did they eat the documentation fees or something?
  • saturniussaturnius Posts: 17
    Hey Spud,

    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 and you can get a better understanding of how bad the advertised deal actually is.
  • Yeah, Saturnius, I'm familiar with the MSRP vs. invoice (i actually think truecar's invoice price is a little high) and all the incentives to dealers, but I'm just wondering about your lease price vs. your cap price.

    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.
  • I was hoping to get MF and residuals for the following cars
    2010 Prius IV or V, 12K miles, top credit tier.

    Also has anyone ever dealt with any dealers near Greenville SC.
  • saturniussaturnius Posts: 17
    Yeah, It's not waived, I was confused about that.
    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.
  • Thanks much for the detailed info. I'm looking for an identical car, and the best I've been able to do is about $23,370. I guess I'm not too far off.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm doing well, thanks Bo. Yep, I'm still around :). Toyota's lease program varies by region. You never mentioned what state you are in, but in most of the areas that I have seen Toyota Financial Services' program for its buy rate lease money factor is .00075 for consumers who qualify for its top aka "Tier 1+" credit tier. This lease program is scheduled to run through April 5th.

    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.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chirschman. Please see my previous post for the information that you're looking for. Let us know if you have any other questions.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chirschman. I just described this car's current lease program two posts ago. Unfortunately, the fact that TFS only publishes residuals for base models makes it difficult for anyone other than dealers to work up payments on vehicles.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sw1024. The money factor that you were quoted is correct. I'm not surprised about the confusion surrounding the residual values. See my message a could of posts ago as to why that is happening.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello cappla. Toyota's lease program for the Southeast region is usually very different than its program for the rest of the country. SE Toyota's current buy rate lease money factor for the 2010 Prius is .00151, but I have not seen its residual values for that area.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi evahnulahm. South Carolina is in Toyota's Southeast region. I provided info on what I know about that area's current program in my previous post.

    Prices Paid: Buying & Leasing Experiences Forum
  • ebaeksebaeks Posts: 1
    Iam about to buy toyota prius
    can you please tell me which toyota dealer you got this car and maybe salesman
    name and #
    thank you
  • cluedweaselcluedweasel Posts: 150
    I'm betting the solar roof package is one of those options, hence we're getting the 62 to 63% residual figure.
  • Hi all. I am new to Edmunds Forums and was posting in the wrong forum! Anyways, I want to lease a Prius II or III. The 2 dealers in my town are very competitive. I went with Saturnius's offer of 680 drive off and 225 p.m (Prius III) and one of the dealers accepted without batting an eyelid! That got me thinking in 2 ways - am worried he's not getting the math (unlikely) and I can push the other dealer with more inventory to go lower on the monthly payment. I am hoping to pull them down to about 215 p.m. They were ready to give a trade-in for my '97 Accord (KBB 2000) and 179 p.m for Prius III. The prices for a Prius II were 10 p.m. lower than the III across the board. I am currently trying to sell my car to a private party (KBB 3100) and hoping to get about 2600 (it puts the money in my hands). Any ideas or comments? TIA.
  • saturniussaturnius Posts: 17
    Hey wantaprius,

    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.
  • Saturnius, thank you for your advice. I need your honest opinion; I spoke to a couple of friends (who don't own a Prius) and they advised me to look into the Camry deals seriously. Is the Prius a good car to drive? When I test-drove it, it felt a little different due to the large blind spots in the front and rear...everything else felt fine. I convinced myself and my wife that we'll get used to it. And I feel very comfortable driving the Camry as well. I am looking to have as low a monthly car expense as possible for the next year. Any input to help me decide is much appreciated.
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