2015 Toyota RAV4 Lease Questions

kennyrav4

Hello Michael,

Three weeks ago I leased a 2015 Toyota Rav4 XLE. I was not planning to lease as I had no prior experience but I was in serious need of a reliable car and ran out of time.

I know there is a formula, etc.

But bottom line can you tell me if I got a bad, average, good or great deal?

Purchased at Huntington Toyota NY 11746
Black on Black XLE
36 month lease
30K miles
No money down
Residual value $17,582

Thanks.

kennyrav4

Sorry, forgot to mention my payments are $309 per month and I have 780 credit rating. Thanks

truman_r

kennyrav4 said:

Hello Michael,

Three weeks ago I leased a 2015 Toyota Rav4 XLE. I was not planning to lease as I had no prior experience but I was in serious need of a reliable car and ran out of time.

I know there is a formula, etc.

But bottom line can you tell me if I got a bad, average, good or great deal?

Purchased at Huntington Toyota NY 11746
Black on Black XLE
36 month lease
30K miles
No money down
Residual value $17,582

Thanks.

Hey Kenny, congrats on getting a new car! I am trying to run this deal through the Leasify iPhone app to get a Deal Score but need a little more information.

• Is this an AWD RAV4?
  
• Are there any options/packages installed?
  
• What is the money factor and adjusted capitalized cost?
  
• Did they call out an acquisition and documentation fee on the deal?
  

Let me know! Thanks.

kennyrav4

AWD, Floor and cargo matts and wheel locks, Adjusted Capitalized Cost = $27,695.34. I cannot find anything in the contract called Money or Lease Factor, what else might it be called?

kennyrav4

Acquisition Fee = N/A and I don't see a documentation fee mentioned

truman_r

kennyrav4 said:

Acquisition Fee = N/A and I don't see a documentation fee mentioned

Hi Kenny, the Edmunds True Market Value (average price paid) in your zip code is $26,638 so your adjusted cap cost is $1,057 above that. I am thinking they may have wrapped the acquisition into your adjusted cap cost and that is why it isn't called out. I assumed a money factor of .00062 because of your strong credit score to get to a $309/month payment - that is a pretty good MF and translates to a ~1.5% APR.

I think you did well but there may have been some room on price to come down closer the average price paid in your zip code. That would have brought your payments down to $279/month and improved your Leasify Deal Score from 6.5/10 to 7.5/10 (above 7.0 is recommended).

kennyrav4

I had a feeling that would be the case. The original offer was for the base model at $279 and I should have held them to that for the XLE. Lesson learned not to go in unprepared. I always like to get the best deal as I am sure everyone does. Thanks for the feedback.

I also had another question if you don't mind. The lease agreement lists Under the Itemization of Gross Capitalized Cost section an Outstanding Prior Credit or Lease balance charge of $650. Do you have any idea what that is for? They gave me $1200 credit for my trade-in, does this have something to do with that? Thanks again

Michaell

kennyrav4 said:

I had a feeling that would be the case. The original offer was for the base model at $279 and I should have held them to that for the XLE. Lesson learned not to go in unprepared. I always like to get the best deal as I am sure everyone does. Thanks for the feedback. I also had another question if you don't mind. The lease agreement lists Under the Itemization of Gross Capitalized Cost section an Outstanding Prior Credit or Lease balance charge of $650. Do you have any idea what that is for? They gave me $1200 credit for my trade-in, does this have something to do with that? Thanks again

Did you owe money on your car when you traded it in?

kyfdx

kennyrav4 said:

I had a feeling that would be the case. The original offer was for the base model at $279 and I should have held them to that for the XLE. Lesson learned not to go in unprepared. I always like to get the best deal as I am sure everyone does. Thanks for the feedback.

I also had another question if you don't mind. The lease agreement lists Under the Itemization of Gross Capitalized Cost section an Outstanding Prior Credit or Lease balance charge of $650. Do you have any idea what that is for? They gave me $1200 credit for my trade-in, does this have something to do with that? Thanks again

Acquisition fee is my guess

mellow54

Hi all,

We're looking for the MF and RV for the 2015 RAV4 XLE AWD with Navigation. We're in NYC looking in the tri-state area for a 36 month lease with 12,000 miles per year. Anyone have those figures?

Thanks much!

kyfdx

mellow54 said:

Hi all,

We're looking for the MF and RV for the 2015 RAV4 XLE AWD with Navigation. We're in NYC looking in the tri-state area for a 36 month lease with 12,000 miles per year. Anyone have those figures?

Thanks much!

.00062 MF and 62% residual

mellow54

kyfdx said:

mellow54 said:

Hi all,

We're looking for the MF and RV for the 2015 RAV4 XLE AWD with Navigation. We're in NYC looking in the tri-state area for a 36 month lease with 12,000 miles per year. Anyone have those figures?

Thanks much!

.00062 MF and 62% residual

Thanks a lot! We received an initial quote with a .00072 MF and 62% residual, so looks like they marked up the money factor on us

pdxor

Hi,

Thanks for all your help with these numbers. Can you please provide the MF and residual for a RAV4 XLE or Limited in NE PA with 36 months, 12K/year? Are there options for 10K or less per year?

Thanks!

Michaell

pdxor said:

Hi,

Thanks for all your help with these numbers. Can you please provide the MF and residual for a RAV4 XLE or Limited in NE PA with 36 months, 12K/year? Are there options for 10K or less per year?

Thanks!

XLE - 62%; Limited - 60%

Toyota doesn't offer 10K leases, but if they did, add 1% to the residuals above.

No updated MF yet for PA.

mellow54

mellow54 said:

kyfdx said:

mellow54 said:

Hi all,

We're looking for the MF and RV for the 2015 RAV4 XLE AWD with Navigation. We're in NYC looking in the tri-state area for a 36 month lease with 12,000 miles per year. Anyone have those figures?

Thanks much!

.00062 MF and 62% residual

Thanks a lot! We received an initial quote with a .00072 MF and 62% residual, so looks like they marked up the money factor on us

Thanks a million for all of the assistance you guys provide on this site...armed with this info, we got a great deal on a RAV4 XLE (MSRP of 28,800)

We first negotiated a good selling price (26,500). Then they gave us a quote for a lease, and we made them change the money factor back to .00062. Residual was 62%. We're happy...dealer fees came to ~1,000 (bank fee, doc fee, registration, etc) and tax was ~860. With that, we got a payment well under our 300/mth target with no cap cost reduction necessary. much appreciated!!!

stever

A leasing expert is looking for a new car shopper in the Seattle area who needs help navigating the leasing process. The expert will help you go through the leasing process from start to finish for free in exchange for taking a few pictures and/or video of the experience with leasing a new car using an iPhone app. If interested, please send an email to stever@edmunds.com.

chippah

Good morning all,

I was wondering what the numbers were on an LE AWD 24 mo/12k in MA...?

Thank you!

Michaell

chippah said:

Good morning all,

I was wondering what the numbers were on an LE AWD 24 mo/12k in MA...?

Thank you!

72% and .00028

mattrichards

Good morning,

Would you be able to provide residual and money factor on the LE AWD and XLE AWD for 24 mo/12k in Chicago?

Thanks!

Michaell

mattrichards said:

Good morning,

Would you be able to provide residual and money factor on the LE AWD and XLE AWD for 24 mo/12k in Chicago?

Thanks!

LE - 72%
XLE - 71%

MF of .00011

$450 lease cash.

mattrichards

Thanks, Michaell!

linker316

May I please have the 24/36 month residual and mf for an LE and XLE awd  rav4 in Northern Virginia/DC Metro area?  Standard 12k a year miles.  I was quoted an MF of 0.00036, but wasn't sure if that is right.  Thanks.

Michaell

linker316 said:

May I please have the 24/36 month residual and mf for an LE and XLE awd  rav4 in Northern Virginia/DC Metro area?  Standard 12k a year miles.  I was quoted an MF of 0.00036, but wasn't sure if that is right.  Thanks.

LE - 72% / 63%
XLE - 71% / 62%

I confirm the .00036 MF for the Central Atlantic Toyota region.

juleswinnfield

Hello,

Can you share the 24/36 month residual and mf for an Rav4 XLE and Limited (FWD) in the north Florida area? I would be looking at 10k and 12k miles. So far as I can tell, shooting for a negotiated price of 8-10% off MSRP is reasonable? Also, are there any current incentives, rebates or lease conquest offers on this model? Thank you very much.

kyfdx

juleswinnfield said:

Hello,

Can you share the 24/36 month residual and mf for an Rav4 XLE and Limited (FWD) in the north Florida area? I would be looking at 10k and 12k miles. So far as I can tell, shooting for a negotiated price of 8-10% off MSRP is reasonable? Also, are there any current incentives, rebates or lease conquest offers on this model? Thank you very much.

12K/yr
XLE: .00029 MF and 71% residual
.00193 MF and 62% residual

Limited: Subtract 2%

Don't think Toyota offers 10K/yr, but if they do, add 1%

juleswinnfield

Thanks kyfdx. Why do you subtract 2% from the Limiteds rv over the XLE, as the Limited is a higher end model?

The current lease numberss on the car don't seem too spectacular. What crossover/suv do think provides the best value this month?

kyfdx

juleswinnfield said:

Thanks kyfdx. Why do you subtract 2% from the Limiteds rv over the XLE, as the Limited is a higher end model?

The current lease numberss on the car don't seem too spectacular. What crossover/suv do think provides the best value this month?

I don't subtract it... TFS sets the residuals by model, term and mileage allowance. I just report them.

It's typical for higher trim lines to have lower percentage residuals.

The Tiguan seems to lease out decently, lately. Sedans are usually better.

mkmcguire

Hi All,

Looking for September rates for MF and residual %'s for Chicago area 2015 RAV XLEs.

Please advise!

Thanks,
MKM

kyfdx

mkmcguire said:

Hi All,

Looking for September rates for MF and residual %'s for Chicago area 2015 RAV XLEs.

Please advise!

Thanks,
MKM

August program runs through September 8th

Rukman W

For NJ
36/12k

MF AND Residual for following?

2015 RAV4 LE
2015 RAV4 XLE

Thanks!

kyfdx

namkur said:

For NJ
36/12k

MF AND Residual for following?

2015 RAV4 LE
2015 RAV4 XLE

Thanks!

.00036 MF and 63%/62% residual for LE/XLE.

chippah

Hello Mods,

What are numbers on an LE model, 24 mo/12k in MA?

Thanks again

Michaell

chippah said:

Hello Mods,

What are numbers on an LE model, 24 mo/12k in MA?

Thanks again

72% and .00062

jim123

Hi
What are this months MF and residuals for Northern California? 24 months. 7.5k and 10k miles/year
thanks

kyfdx

jim123 said:

Hi
What are this months MF and residuals for Northern California? 24 months. 7.5k and 10k miles/year
thanks

FWD or AWD? Which trim level?

12K/yr is the lowest you can go with Toyota

jim123

I wanted LE and Limited. Thanks.

Michaell

jim123 said:

I wanted LE and Limited. Thanks.

FWD or AWD?

rufusskingston

Southern California LE/XLE 24/36 12K/15k FWD
What are the residuals and MF

I assume that the Limited is the same MF and -2% as the XLE right?

Thanks

Michaell

rufusskingston said:

Southern California LE/XLE 24/36 12K/15k FWD
What are the residuals and MF

I assume that the Limited is the same MF and -2% as the XLE right?

Thanks

24/15:
LE - 70%
XLE - 69%

36/15:
LE - 61%
XLE - 60%

Yes, Limited is 2% lower than XLE. Add 2% for 12K miles

.00020 MF for both terms

mkhalil33

Hello,
Can I please get the central Florida lease rates and sales price! 2015 XLE 36 months 12,000 miles. Thanks in advance.

kyfdx

mkhalil33 said:

Hello,
Can I please get the central Florida lease rates and sales price! 2015 XLE 36 months 12,000 miles. Thanks in advance.

.00169 MF and 62% residual.

Looks like the only term getting support is 24 months
.00005 MF and 71% residual

jim123

I wanted to know the money factor and residuals for Northern California on AWD, LE and Limited for 2 year lease, 12k miles. thanks.

mkhalil33

kyfdx said:

mkhalil33 said:

Hello,
Can I please get the central Florida lease rates and sales price! 2015 XLE 36 months 12,000 miles. Thanks in advance.

.00169 MF and 62% residual.

Looks like the only term getting support is 24 months
.00005 MF and 71% residual

Do you recommend waiting? Do you think the 4th quarter rates for the 36 months to get more support?

kyfdx

jim123 said:

I wanted to know the money factor and residuals for Northern California on AWD, LE and Limited for 2 year lease, 12k miles. thanks.

.00010 MF and 72% (LE) or 69% (LTD) residual. $750 lease cash

kyfdx

mkhalil33 said:

kyfdx said:

mkhalil33 said:

Hello,
Can I please get the central Florida lease rates and sales price! 2015 XLE 36 months 12,000 miles. Thanks in advance.

.00169 MF and 62% residual.

Looks like the only term getting support is 24 months
.00005 MF and 71% residual

Do you recommend waiting? Do you think the 4th quarter rates for the 36 months to get more support?

SET has already stopped lease support for 2015 Camrys and Corollas. It's just a guess, but at some point they will stop supporting the 2015 RAV4, as well.

mkhalil33

Can anyone please confirm the residual for 36 months is 62%. I have had 2 reps tell me it's 71% for 36 and 24 in Orlando.

Michaell

mkhalil33 said:

Can anyone please confirm the residual for 36 months is 62%. I have had 2 reps tell me it's 71% for 36 and 24 in Orlando.

I confirm the 36 month, 12,000 miles per year residual on the 2015 Toyota Rav4 XLE is 62%

mkhalil33

I guess better for me then if they are insisting on 71%. Thanks

Michaell

mkhalil33 said:

I guess better for me then if they are insisting on 71%. Thanks

I would confirm if this is a lease through Toyota Financial; other banks may have a higher residual but higher MF to offset.

kyfdx

If you are in the SETF area, anything is possible.