2014 Toyota Prius Lease Questions

Kirstie_HKirstie_H EdmundsAdministrator Posts: 11,132
edited May 2015 in Toyota
For current leasing information, go to 2015 Toyota Prius Lease Questions




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  • sfcruiser246sfcruiser246 Member Posts: 2

    Hi guys,

    This is the best offer I got so far in Northern California. It feels higher than I thought as the cap cost quoted here is higher than a quoted sale price I got of $23,900 for the Prius 3. Any advice?

    A. 2014 Toyota Prius III
    MSRP: $26,800, 36-Month Lease for 12k Miles per Year:
    Drive-Off - $721 (1st Payment, DMV, Doc fees and a small sales tax)
    Monthly Payment - $319 + tax
    Cap Cost - $25,415
    MF - .00090
    Residual - $15,974

    B. 2014 Toyota Prius v III (in stock)
    MSRP: $28,550 36-Month Lease for 12k Miles per Year:
    Drive-Off - $754 (1st Payment, DMV, Doc fees and a small sales tax)
    Monthly Payment - $340 + tax
    Cap Cost - $27,075
    MF - .00130
    Residual - $17,610

  • bcampbell001bcampbell001 Member Posts: 8

    Hi Kirstie,
    Can you please provide MF / Residual for 2014 Prius 4. Looking at 24 / 15K(?)not sure this is available and 36 / 15K
    Thanks!

  • kyfdxkyfdx Moderator Posts: 197,587

    @bcampbell001 said:
    Hi Kirstie,
    Can you please provide MF / Residual for 2014 Prius 4. Looking at 24 / 15K(?)not sure this is available and 36 / 15K
    Thanks!

    I've got money factors, but not the residuals..

    .00001 MF for 24 months, and .00042 for 36 months..

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  • djrobsddjrobsd Member Posts: 20

    Does anyone have updated MF or residual info for the Prius Hatchback?
    I am pretty sure the residual is 17, 182 because I've got quotes from 8 dealers, and the ones who were willing to give me the residual listed it as 17,182.

    Tier 1+

  • kyfdxkyfdx Moderator Posts: 197,587

    @djrobsd said:
    Does anyone have updated MF or residual info for the Prius Hatchback?
    I am pretty sure the residual is 17, 182 because I've got quotes from 8 dealers, and the ones who were willing to give me the residual listed it as 17,182.

    Tier 1+

    In most regions, the money factor is .00001 for April. I don't have residuals for the Prius. Dealers can't alter them, so what you see is what you get.

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  • witt168witt168 Member Posts: 23

    Hi Kirstie,

    Can you provide the money factor ro Prius II 36 months lease, 12,000/ year? I'm in L.A. area.

    Thanks.

  • MichaellMichaell ColoradoModerator Posts: 193,028

    @witt168 said:
    Hi Kirstie,

    Can you provide the money factor ro Prius II 36 months lease, 12,000/ year? I'm in L.A. area.

    Thanks.

    61% residual and .00001

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  • witt168witt168 Member Posts: 23

    Hi Michaell,

    Thanks for the quick response.

    I was offer a selling price of $22,988, total of $367.75 fee and residual of $14,762 for Prius II, 36 month lease with 12,000 miles/year with $0.00 out of pocket due at signing.

    Using the Edmund calculator, the lease payment comes out $259.00.

    Is this correct?

  • MichaellMichaell ColoradoModerator Posts: 193,028

    @witt168 said:
    Hi Michaell,

    Thanks for the quick response.

    I was offer a selling price of $22,988, total of $367.75 fee and residual of $14,762 for Prius II, 36 month lease with 12,000 miles/year with $0.00 out of pocket due at signing.

    Using the Edmund calculator, the lease payment comes out $259.00.

    Is this correct?

    Looks pretty close - my calculations come back with a pre-tax payment of $239.10, so 8-8.5% tax gets you to around $259/mo.

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  • witt168witt168 Member Posts: 23

    Hi Michaell,

    Thanks for the quick and great help.

  • paulhlee316paulhlee316 Member Posts: 5
    Hi MichaelL and Kirstie,

    Can you tell me MF, Residual and monthly payment for a Prius V 5 with a purchase price of $27,291 (doc fee of $166) and a 8% tax rate? I'm looking for both 2 year and 3 year with 12,000 miles per year.
  • kyfdxkyfdx Moderator Posts: 197,587

    @paulhlee316 said:
    Hi MichaelL and Kirstie,

    Can you tell me MF, Residual and monthly payment for a Prius V 5 with a purchase price of $27,291 (doc fee of $166) and a 8% tax rate? I'm looking for both 2 year and 3 year with 12,000 miles per year.

    .00084 MF and 70% residual for 24/12

    .00114 MF and 60% residual for 36/12

    We'll need the MSRP to calculate a payment, but be advised that Toyota residuals are always iffy. Sometimes they don't apply to all options, so any calculated payment would be an estimate.

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  • paulhlee316paulhlee316 Member Posts: 5
    The MSRP is $31,205
  • MichaellMichaell ColoradoModerator Posts: 193,028

    @paulhlee316 said:
    The MSRP is $31,205

    Using your MSRP and selling price with the 36/12 MF and residual provided by my co-host, I get a pre-tax payment of $290.46.

    The 24 month payment actually works out better at $268.25 - the higher residual and lower MF work in your favor.

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  • roadrageeroadragee CaliforniaMember Posts: 123

    Hi, Michael

    Could you provide MF & Residual for Prius Three and Five, 24 month. / 12k and 36 month / 12k for CA? (Do different trim levels have different MF/Residual for Prius?)

    Thank you!

  • roadrageeroadragee CaliforniaMember Posts: 123

    @roadragee said:
    Hi, Michael

    Could you provide MF & Residual for Prius Three and Five, 24 month. / 12k and 36 month / 12k for CA? (Do different trim levels have different MF/Residual for Prius?)

    Thank you!

    Hello? Anybody there? =)

    Thanks!!

  • kyfdxkyfdx Moderator Posts: 197,587

    @roadragee said:
    Hi, Michael

    Could you provide MF & Residual for Prius Three and Five, 24 month. / 12k and 36 month / 12k for CA? (Do different trim levels have different MF/Residual for Prius?)

    Thank you!

    Prius Liftback: .00001 MF and 71% residual. $1000 lease cash for 24mo, 12K/yr.

    .00001 MF and 61% residual. $1000 lease cash for 36mo, 12K/yr.

    Prius V: .00084 MF and 73% residual. for 24mo, 12K/yr.

    .00114 MF and 63% residual for 36mo, 12K/yr.

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  • roadrageeroadragee CaliforniaMember Posts: 123

    Thank you so much!

    Do those MF and Residual apply for all trim levels (Two, Three, Four, Five) of PRIUS LIFTBACK? If different, could you post MF & Resi for Prius FIVE trim level? Thank you!!

  • kyfdxkyfdx Moderator Posts: 197,587

    As far as I can tell.. same numbers for all levels. Toyota isn't real good about residualizing all options, so the higher the MSRP, the more likely that the effective residual percentage will be lower.

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  • roadrageeroadragee CaliforniaMember Posts: 123

    @[email protected] said:
    As far as I can tell.. same numbers for all levels. Toyota isn't real good about residualizing all options, so the higher the MSRP, the more likely that the effective residual percentage will be lower.

    Got it. Thanks again for the info! You guys rock!

  • aigochamalohaigochamaloh Member Posts: 105

    Holy crap, seems like a smoking deal to lease the Prius, then buy at end of lease if you're wanting to go that route in the first place.

  • aigochamalohaigochamaloh Member Posts: 105
    edited May 2014

    Question.

    What is the amount applied upfront with 687.97? Are they taking the acquisition fee out from the cap cost reduction?

    If so, shouldn't gross and net cap cost be lower? Where else could that amount be from?

    TIA!

  • kyfdxkyfdx Moderator Posts: 197,587

    I'm going to guess title and license fees...

    Out of the $3500 upfront, $2812.03 is CAP cost reduction, $193.26 is first payment, and $494.71 is unaccounted for.. (but, taken out of the $3500). $232 of that $494.71 is the license fee... If you add up the CAPPED numbers in column 2, that $232 isn't in the Gross CAP.

    So. .it's actually ($494.71 - $232.00) = $262.71 (that's the amount without explanation).

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  • aigochamalohaigochamaloh Member Posts: 105

    Thank you!

    This is what I have in my Excel sheet. This is assuming I roll EVERYTHING into the monthly payment, which seems better since effective interest is 0.0%. Can I ask them to do that instead of paying for license and etc "up front"?

  • kyfdxkyfdx Moderator Posts: 197,587

    You could... but, items that aren't taxed (like license/registration) become effectively taxed, if you borrow the money and roll them into the payment. So, I wouldn't do that.

    So, now that I slept on it, I'd say that the $262.71 that we can't account for is sales tax on the CAP cost reduction.

    The only way I'd structure it differently, is to put less money upfront. After all, as you mentioned, the finance charges are virtually zero. The $1500 rebate probably has to be applied as a CAP cost reduction, but you could probably pull back $1300 of your $2000, and still cover 1st payment, registration and tax on the rebate.. (corresponding increase in payment, of course)

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  • aigochamalohaigochamaloh Member Posts: 105

    @kyfdx said:
    You could... but, items that aren't taxed (like license/registration) become effectively taxed, if you borrow the money and roll them into the payment. So, I wouldn't do that.

    So, now that I slept on it, I'd say that the $262.71 that we can't account for is sales tax on the CAP cost reduction.

    The only way I'd structure it differently, is to put less money upfront. After all, as you mentioned, the finance charges are virtually zero. The $1500 rebate probably has to be applied as a CAP cost reduction, but you could probably pull back $1300 of your $2000, and still cover 1st payment, registration and tax on the rebate.. (corresponding increase in payment, of course)

    Man, they tax on the cap cost reduction too?

    The trade in has to go in because they just want to get rid of the car before anything happens. It's an old Mercedes and they just have a feeling it isn't going to last much longer. I've driven it and it's fine, but it is old and they want to get something for it while they can. I can certainly understand that I suppose.

    Probably going to do the deal this morning so we'll see how it goes.

    Pricing on the car and lease look OK to you?

    Thanks!

  • kyfdxkyfdx Moderator Posts: 197,587

    Yes, the price looks good.

    If they didn't tax CAP reductions, everyone would put $10K down, and only pay tax on a $30 payment...

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  • atos2012atos2012 Member Posts: 86

    @kyfd can you please provide with MF and Residual for Prius 5 36/10 and 12. Thanks
    13.

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  • MichaellMichaell ColoradoModerator Posts: 193,028

    @atos2012 said:
    kyfd can you please provide with MF and Residual for Prius 5 36/10 and 12. Thanks
    13.

    Toyota does not support 10K per year leases. Residual on a 36mo/12K lease is 59%. MF is .00001 with $1000 lease cash.

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  • atos2012atos2012 Member Posts: 86

    @Michaell with your numbers and my calculation i have got $322/month including 8% CA tax. and 0 down of course. This is based on fare profit/offer to the dealer of 3%. What do you think?

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  • MichaellMichaell ColoradoModerator Posts: 193,028

    @atos2012 said:
    Michaell with your numbers and my calculation i have got $322/month including 8% CA tax. and 0 down of course. This is based on fare profit/offer to the dealer of 3%. What do you think?

    Are you saying that your offer to the dealer is 3% over invoice? You should be much closer to invoice - check the pricing tools at the top of the page.

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  • roadrageeroadragee CaliforniaMember Posts: 123
    edited May 2014

    Sat down at a dealer in So.Cal to talk numbers today - Prius Hatchback Five trim.

    Dealer quote------------------------------

    MSRP $31040

    Price $26435 (including $1000 rebate)

    Residual 57%

    MF 0.00101

    Fees + Tag + Other $1046

    Payment $346

    My excel sheet----

    MF 0.00001

    Payment $297

    They are insisting on MF with a substantial mark-up over the posted 0.00001. I've told them No Way. After couple rounds of going back and forth, the top man came out and told me 'No Deal', and I simply walked away.

    He said with their low 'Price', MF 0.00101 is the best they can do. I don't get his rational. If I finance, price stays same and I get 0%. If I pay cash, they can do it even better at $25,935. Yet, for leasing they won't do the base TFS MF of 0.00001. I don't get his reasoning, but I assume they need to make more $$$ with leasing?

  • MichaellMichaell ColoradoModerator Posts: 193,028

    @roadragee said:
    Sat down at a dealer in So.Cal to talk numbers today - Prius Hatchback Five trim.

    Dealer quote------------------------------

    MSRP $31040

    Price $26435 (including $1000 rebate)

    Residual 57%

    MF 0.00101

    Fees + Tag + Other $1046

    Payment $346

    My excel sheet----

    MF 0.00001

    Payment $297

    They are insisting on MF with a substantial mark-up over the posted 0.00001. I've told them No Way. After couple rounds of going back and forth, the top man came out and told me 'No Deal', and I simply walked away.

    He said with their low 'Price', MF 0.00101 is the best they can do. I don't get his rational. If I finance, price stays same and I get 0%. If I pay cash, they can do it even better at $25,935. Yet, for leasing they won't do the base TFS MF of 0.00001. I don't get his reasoning, but I assume they need to make more $$$ with leasing?

    There are a whole lot of Toyota dealers in SoCal - I'm sure you can find one willing to sell you a car on your terms.

    You were right to walk away from a deal where the MF is marked up.

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  • roadrageeroadragee CaliforniaMember Posts: 123

    Thanks. Let see which one will be willing and ready to make the deal.

  • atos2012atos2012 Member Posts: 86
    edited May 2014

    @Michaell said:
    Are you saying that your offer to the dealer is 3% over invoice? You should be much closer to invoice - check the pricing tools at the top of the page.

    No, i am saying 3% over the actual car cost to dealer (holdback, incentives etc.) What pricing tool you are talking about? couldn't find it.

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  • MichaellMichaell ColoradoModerator Posts: 193,028
    edited May 2014

    @atos2012 said:
    No, i am saying 3% over the actual car cost to dealer (holdback, incentives etc.) What pricing tool you are talking about? couldn't find it.

    At the top of each discussion page are pull down for make model and year. Selecting the car you want will take you to the edmunds pricing tools.

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  • atos2012atos2012 Member Posts: 86
    edited May 2014

    @michaell yeah i already got it )) thank you, so what does dealer contribution mean?

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  • kyfdxkyfdx Moderator Posts: 197,587

    @atos2012 said:
    michaell yeah i already got it )) thank you, so what does dealer contribution mean?

    In an advertised lease, "dealer contribution" is the discount from MSRP, before any incentives are applied

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  • atos2012atos2012 Member Posts: 86

    @kyfd ok, good to know, thanks

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  • roadrageeroadragee CaliforniaMember Posts: 123
    edited May 2014

    So, another dealership visit today in So California. This one will indeed sell me the Prius package Five on my terms

    MSRP $31040

    Price $26435 (incl. $1000 rebate)

    36 month - 12k/year

    Residual 57%

    MF 0.00001

    $0 Down - $297 including tax.

    Will sign and pick up the car tomorrow.

    Big 'Thanks' to the team at Edmunds, esp @Michaell and @kyfdx Wouldn't have done it without valuable Residual & MF information from this forum!

  • MichaellMichaell ColoradoModerator Posts: 193,028

    @roadragee said:
    So, another dealership visit today in So California. This one will indeed sell me the Prius package Five on my terms

    MSRP $31040

    Price $26435 (incl. $1000 rebate)

    36 month - 12k/year

    Residual 57%

    MF 0.00001

    $0 Down - $297 including tax.

    Will sign and pick up the car tomorrow.

    Big 'Thanks' to the team at Edmunds, esp Michaell and kyfdx Wouldn't have done it without valuable Residual & MF information from this forum!

    Looks like a solid deal - under $300/mo for a $30K car is a great payment. Enjoy!

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  • roadrageeroadragee CaliforniaMember Posts: 123
    Ended up not leasing due to some matters. However, it just means now I will have get this done this month. Do you have June MF and residual for Prius 36month-12k/year on Prius pkg Five?

    Thanks
  • kyfdxkyfdx Moderator Posts: 197,587

    @roadragee said:
    Ended up not leasing due to some matters. However, it just means now I will have get this done this month. Do you have June MF and residual for Prius 36month-12k/year on Prius pkg Five?

    Thanks

    .00001 MF and 57% residual

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  • aytayt Member Posts: 13

    Hello.. I am new at this. I am interested in leasing a 2014 Prius (model 3). I was quoted a lease price of $283 per month (tax included) with $1,000 down at 15K miles per year over the phone with a dealership in California. Can you please let me know if this a good deal or close to it for that model. Thank you for you input and help

  • MichaellMichaell ColoradoModerator Posts: 193,028
    edited June 2014

    @ayt said:
    Hello.. I am new at this. I am interested in leasing a 2014 Prius (model 3). I was quoted a lease price of $283 per month (tax included) with $1,000 down at 15K miles per year over the phone with a dealership in California. Can you please let me know if this a good deal or close to it for that model. Thank you for you input and help

    We will need the MSRP and the negotiated selling price of the vehicle in question in order to evaluate the deal for you.

    Also, what was the lease term?

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  • aytayt Member Posts: 13

    The MSPR is $26,575 and the lease term is 36 months. The $1,000 down includes the 1st payment. I don't have the negotiated selling price.

  • aytayt Member Posts: 13

    The MSPR is $26,575 and the lease term is 36 months. The $1,000 down includes the 1st payment. the selling price is $25,950...please let me know if good deal or how close...thank you

  • aytayt Member Posts: 13

    Sorry... I wrote the wrong selling of $25,950...the correct selling price on the deal is $25,096

  • MichaellMichaell ColoradoModerator Posts: 193,028

    @ayt said:
    Sorry... I wrote the wrong selling of $25,950...the correct selling price on the deal is $25,096

    Using your MSRP and selling price with the MF of .00001 and residual of 59%, I get a pre-tax payment of $261.98 for 36 months. 9% tax takes the payment to $285.56, so very close to the $283/mo you were quoted.

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  • lijelije Member Posts: 11
    edited June 2014

    I got a 36 month lease (12,000 miles/yr) in NJ for a 2014 Prius Four (Blizzard Pearl) for $1,000 down (inclusive of first month payment) and $290/month (inclusive of taxes). Good deal?

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