2014 Toyota Prius Lease Questions

kyfdx

scobo said:

I need some help...I have been lease shopping here in Atlanta GA. Georgia has a law that when leasing you pay sales tax and ad valorem tax upfront. On a Prius four with a MSRP of $31,700 the tax is about $2300. Has anyone leased in Georgia and can confirm this is true or how to get around it?

They are also using a 59% residual and a money factor of .00093 Are these correct?

They are discounting the MSRp by $4k, but with the tax and other fees the cap cost is about $32k

The payment they are quoting is $449/mo. which I think is absurd. I am trying to figure out how they got such a high number. I calculate a number around $350, but I would like to be at $300 or lower. The tax on these lease deals are really causing an issue getting a good deal.

Any advice?

scobo said:

36 month, 12k/year

Yes.. GA taxes the full selling price of the vehicle. No..there is no way around it.

Toyota numbers are regional, and GA is in the SET distributorship area. .00093 is the money factor on 36 month leases for SET dealers.

Not sure how they are getting $449 or you are getting $350, but with $31700 MSRP and $32K CAP cost, .00093 MF and 59% residual, I get $416/mo.

You might ask them for the exact residual in dollars, and Toyota doesn't residualize all options and it may be less than the 59% number.

Michaell

scobo said:

I need some help...I have been lease shopping here in Atlanta GA. Georgia has a law that when leasing you pay sales tax and ad valorem tax upfront. On a Prius four with a MSRP of $31,700 the tax is about $2300. Has anyone leased in Georgia and can confirm this is true or how to get around it?

They are also using a 59% residual and a money factor of .00093 Are these correct?

They are discounting the MSRp by $4k, but with the tax and other fees the cap cost is about $32k

The payment they are quoting is $449/mo. which I think is absurd. I am trying to figure out how they got such a high number. I calculate a number around $350, but I would like to be at $300 or lower. The tax on these lease deals are really causing an issue getting a good deal.

Any advice?

I confirm that in Georgia an Ad Valorem tax of 6.75% is assessed against the entire selling price (not the MSRP) of a car when that car is leased.

No way around it to my knowledge.

My numbers show a 36/12 residual of 58% for the Prius Four. SouthEast Toyota has a MF of .00093, so that matches the dealer.

What is the selling price you've negotiated? $449 does seem high, but the tax situation probably means that $300/mo isn't doable - but, we need all the numbers to know for sure.

EDIT - sorry, I didn't see the net cap cost from your original post. If I use $31.700 as the MSRP and $32,000 as the net cap cost with the MF and residual I quoted above, I get a payment of $425/mo.

blacksi

Hi Michaell,

What's the MF and RV for 2 with 24/12k term in Illinois?

Thank you.

Michaell

blacksi said:

Hi Michaell,

What's the MF and RV for 2 with 24/12k term in Illinois?

Thank you.

71% and .00001 MF

$750 lease cash.

PF_Flyer

For current leasing information, go to 2015 Toyota Prius Lease Questions