Good lease? New 2014 Toyota Corolla S

keltobud

Cash Sale Price: 18,192.00
Tax Accessory: 798.00
Aquisition Fee: 650.00
Vehicle Total: 19,640
NonTax Accessory? 895.00
DMV: 252.00
Cap Reduction: 1882.97
Mnfg Rebate: 300.00
Total CCR: 1882.97
Total CAP Cost: 20,535.00
Total CCReduct: 1882.00
ADJ Cap Cost: 18652.03
Money Factor: .00050
MSRP: 19,700
x ResFactor 63% (12,411.00)
Customer Cash; 2500
Drive Off: 2799.00
Monthly Base payment: 188.89
Monthly Tax: 14.17
Monthly Payment: 203.00

2 years free maintenance? Do I need extra?
Do I need GAP insurance?

kyfdx

keltobud said:

Cash Sale Price: 18,192.00
Tax Accessory: 798.00
Aquisition Fee: 650.00
Vehicle Total: 19,640
NonTax Accessory? 895.00
DMV: 252.00
Cap Reduction: 1882.97
Mnfg Rebate: 300.00
Total CCR: 1882.97
Total CAP Cost: 20,535.00
Total CCReduct: 1882.00
ADJ Cap Cost: 18652.03
Money Factor: .00050
MSRP: 19,700
x ResFactor 63% (12,411.00)
Customer Cash; 2500
Drive Off: 2799.00
Monthly Base payment: 188.89
Monthly Tax: 14.17
Monthly Payment: 203.00

2 years free maintenance? Do I need extra?
Do I need GAP insurance?

What is the $798 and the $895 amounts for?

How much do they want for GAP coverage? One of the reasons that I don't like Toyota leases.... GAP isn't included.

No, you don't need any more maintenance coverage

keltobud

I'm finding out the answers to your questions now.....thank you.

keltobud

The dealer just said that the non taxable $895.00 is the TFS GAP insurance for the term of the loan. $798.00 is the Secure etch ad protection package on all of their cars.
Extra wear and tear is a separate item and it costs around $885.00.

kyfdx

keltobud said:

The dealer just said that the non taxable $895.00 is the TFS GAP insurance for the term of the loan. $798.00 is the Secure etch ad protection package on all of their cars.
Extra wear and tear is a separate item and it costs around $885.00.

So.. $895 GAP insurance.. that is probably covering a maximum of $3000 in coverage... And, another $798 for basically nothing..

$1700 on a 36 month lease.... that's an extra $50/mo. Have you shopped Civics?

keltobud

I cannot get GAP insurance with my regular insurer AAA. They don't offer it. Other insurance companies don't offer GAP insurance a la carte--you have to give them the full insurance policy to add it. What a racket.

kyfdx

keltobud said:

I cannot get GAP insurance with my regular insurer AAA. They don't offer it. Other insurance companies don't offer GAP insurance a la carte--you have to give them the full insurance policy to add it. What a racket.

Most (not all) captive finance companies include GAP insurance on their leases. Unfortunately, Toyota is not one of them. You have to factor in all costs, when comparing leases.