2015 Toyota Corolla Lease Questions

slipstreamv2

Hi Michaell or anyone else,

Would it be possible to get the RV and MF for the following?
Leasing in NJ...

2015 Toyota Corolla L 4-speed automatic
36 months
12k/yr miles

Many thanks!

Michaell

slipstreamv2 said:

Hi Michaell or anyone else,

Would it be possible to get the RV and MF for the following?
Leasing in NJ...

2015 Toyota Corolla L 4-speed automatic
36 months
12k/yr miles

Many thanks!

63% residual and .00001 MF

slipstreamv2

Thanks, Michael!
I'm speaking to an internet salesperson, and she's telling me the residual is $11,025 on a car that has an MSRP of $18,600 (Base $17,550+$225 carpet and trunk mats+$825 destination charge).
That would put the residual at 59.3%..

Actually, I'm thinking that the I should use an MSRP that doesn't include the destination charge? That would make sense...is that correct?
Then the MSRP would be $17550+225=$17,775

$11,025/$17,775= 62%, which is still off by 1%...

It's a 2015 Corolla L Auto (non-CVT)
http://www.dealerrater.com/classifieds/2015-Toyota-Corolla-ad-2T1BURHE9FC348542/

Michaell

slipstreamv2 said:

Thanks, Michael!
I'm speaking to an internet salesperson, and she's telling me the residual is $11,025 on a car that has an MSRP of $18,600 (Base $17,550+$225 carpet and trunk mats+$825 destination charge).
That would put the residual at 59.3%..

Actually, I'm thinking that the I should use an MSRP that doesn't include the destination charge? That would make sense...is that correct?
Then the MSRP would be $17550+225=$17,775

$11,025/$17,775= 62%, which is still off by 1%...

It's a 2015 Corolla L Auto (non-CVT)
http://www.dealerrater.com/classifieds/2015-Toyota-Corolla-ad-2T1BURHE9FC348542/

The destination is included in the residual calculation, though options are not (for Toyota).

kyfdx

slipstreamv2 said:

Thanks, Michael!
I'm speaking to an internet salesperson, and she's telling me the residual is $11,025 on a car that has an MSRP of $18,600 (Base $17,550+$225 carpet and trunk mats+$825 destination charge).
That would put the residual at 59.3%..

Actually, I'm thinking that the I should use an MSRP that doesn't include the destination charge? That would make sense...is that correct?
Then the MSRP would be $17550+225=$17,775

$11,025/$17,775= 62%, which is still off by 1%...

It's a 2015 Corolla L Auto (non-CVT)
http://www.dealerrater.com/classifieds/2015-Toyota-Corolla-ad-2T1BURHE9FC348542/

Toyota doesn't residualize all options. It's the only manufacturer where you can't figure out the residual on your own. If the dealer says that's the residual, then that's it.

byway

Does anyone know what the residual and MF would be for a 2015 Corolla LE and S in NY? I am in Westchester, NY considering a 36 mo/ 12k lease on one of these trims. Thanks.

Michaell

byway said:

Does anyone know what the residual and MF would be for a 2015 Corolla LE and S in NY? I am in Westchester, NY considering a 36 mo/ 12k lease on one of these trims. Thanks.

LE - 63%
S - 65%
.00001 MF for both

longhorn1969

Saw a $99 a month lease on a Corolla LE, is it really possible? Since Toyota is already discounting Corollas up to k $5K off, would I have to bring money to get this deal?

"Deal# 117533. Lease a new 2015 Corolla LE for $99/mo. 36 month lease. Mdl#1852, stk#T59084. $1999 due at signing. Amount due at signing includes first month payment of $99, $1,900 down payment and no security deposit. Tax, Title, License and Dealer Doc Fee $125 are extra and due at signing. MSRP= $20,279 and Net Cap Cost= $15,442. Lease End purchase option is $11,882 +TTL and $125 Dealer Doc Fee. Customer is responsible for Disposition Fee of $350 and excess wear and tear and $0.15 per mile over 36,000 miles. Not all customers will qualify. Tier 1+ only, other tier credit rates are higher. Expires 6/1/15."

Michaell

longhorn1969 said:

Saw a $99 a month lease on a Corolla LE, is it really possible? Since Toyota is already discounting Corollas up to k $5K off, would I have to bring money to get this deal?

"Deal# 117533. Lease a new 2015 Corolla LE for $99/mo. 36 month lease. Mdl#1852, stk#T59084. $1999 due at signing. Amount due at signing includes first month payment of $99, $1,900 down payment and no security deposit. Tax, Title, License and Dealer Doc Fee $125 are extra and due at signing. MSRP= $20,279 and Net Cap Cost= $15,442. Lease End purchase option is $11,882 +TTL and $125 Dealer Doc Fee. Customer is responsible for Disposition Fee of $350 and excess wear and tear and $0.15 per mile over 36,000 miles. Not all customers will qualify. Tier 1+ only, other tier credit rates are higher. Expires 6/1/15."

The $1900 down payment due at signing equates to a "true" payment of $152/mo, which is still pretty decent. And, other taxes and fees are on top of that.

longhorn1969

Michaell said:

longhorn1969 said:

Saw a $99 a month lease on a Corolla LE, is it really possible? Since Toyota is already discounting Corollas up to k $5K off, would I have to bring money to get this deal?

"Deal# 117533. Lease a new 2015 Corolla LE for $99/mo. 36 month lease. Mdl#1852, stk#T59084. $1999 due at signing. Amount due at signing includes first month payment of $99, $1,900 down payment and no security deposit. Tax, Title, License and Dealer Doc Fee $125 are extra and due at signing. MSRP= $20,279 and Net Cap Cost= $15,442. Lease End purchase option is $11,882 +TTL and $125 Dealer Doc Fee. Customer is responsible for Disposition Fee of $350 and excess wear and tear and $0.15 per mile over 36,000 miles. Not all customers will qualify. Tier 1+ only, other tier credit rates are higher. Expires 6/1/15."

The $1900 down payment due at signing equates to a "true" payment of $152/mo, which is still pretty decent. And, other taxes and fees are on top of that.

Is that from MSRP? Again Toyota is discounting Corollas up to $5K off.

Michaell

longhorn1969 said:

Michaell said:

longhorn1969 said:

Saw a $99 a month lease on a Corolla LE, is it really possible? Since Toyota is already discounting Corollas up to k $5K off, would I have to bring money to get this deal?

"Deal# 117533. Lease a new 2015 Corolla LE for $99/mo. 36 month lease. Mdl#1852, stk#T59084. $1999 due at signing. Amount due at signing includes first month payment of $99, $1,900 down payment and no security deposit. Tax, Title, License and Dealer Doc Fee $125 are extra and due at signing. MSRP= $20,279 and Net Cap Cost= $15,442. Lease End purchase option is $11,882 +TTL and $125 Dealer Doc Fee. Customer is responsible for Disposition Fee of $350 and excess wear and tear and $0.15 per mile over 36,000 miles. Not all customers will qualify. Tier 1+ only, other tier credit rates are higher. Expires 6/1/15."

The $1900 down payment due at signing equates to a "true" payment of $152/mo, which is still pretty decent. And, other taxes and fees are on top of that.

Is that from MSRP? Again Toyota is discounting Corollas up to $5K off.

I'm not sure what you mean .. MSRP from the info above is $20,279 and the net capitalized cost is $15,442. The $1900 down payment is about $53/mo for 36 months, which, if you add that to the $99/mo payment advertised, gets the $152/mo - before tax.

longhorn1969

Michaell said:

longhorn1969 said:

Michaell said:

longhorn1969 said:

Saw a $99 a month lease on a Corolla LE, is it really possible? Since Toyota is already discounting Corollas up to k $5K off, would I have to bring money to get this deal?

"Deal# 117533. Lease a new 2015 Corolla LE for $99/mo. 36 month lease. Mdl#1852, stk#T59084. $1999 due at signing. Amount due at signing includes first month payment of $99, $1,900 down payment and no security deposit. Tax, Title, License and Dealer Doc Fee $125 are extra and due at signing. MSRP= $20,279 and Net Cap Cost= $15,442. Lease End purchase option is $11,882 +TTL and $125 Dealer Doc Fee. Customer is responsible for Disposition Fee of $350 and excess wear and tear and $0.15 per mile over 36,000 miles. Not all customers will qualify. Tier 1+ only, other tier credit rates are higher. Expires 6/1/15."

The $1900 down payment due at signing equates to a "true" payment of $152/mo, which is still pretty decent. And, other taxes and fees are on top of that.

Is that from MSRP? Again Toyota is discounting Corollas up to $5K off.

I'm not sure what you mean .. MSRP from the info above is $20,279 and the net capitalized cost is $15,442. The $1900 down payment is about $53/mo for 36 months, which, if you add that to the $99/mo payment advertised, gets the $152/mo - before tax.

Toyota is selling Corollas LEs around $15k, so I wonder what the lease is based on the $15k price not the MSRP.

longhorn1969

After talking to the dealer, apparently Toyota do not use their discounted sales price when figuring out their leases. Unlike Honda.

hoosierhoo1

longhorn1969 said:

After talking to the dealer, apparently Toyota do not use their discounted sales price when figuring out their leases. Unlike Honda.

Methinks the dealer is trying to take advantage of you. You should negotiate the price of the car (which should be well below MSRP) as if it were a purchase, and then talk about lease terms. Toyota ABSOLUTELY offers leases based on the negotiated sales price, not the MSRP.

Michaell

hoosierhoo1 said:

After talking to the dealer, apparently Toyota do not use their discounted sales price when figuring out their leases. Unlike Honda.

Methinks the dealer is trying to take advantage of you. You should negotiate the price of the car (which should be well below MSRP) as if it were a purchase, and then talk about lease terms. Toyota ABSOLUTELY offers leases based on the negotiated sales price, not the MSRP.

It's possible there are purchase specific incentives that wouldn't apply to a lease. 

longhorn1969

That's what we did when we leased our Camry Hoosier, but I think Mitchell may have a point. Can you imagine the lease payments on a Corolla LE $5k off MSRP? It really would be a $99 dollar lease.

uclainmd

Can you help me figure out if I'm getting a good deal or should still be looking? This is a dealer in VA, but the car would be registered in MD.
- 2015 Corolla LE Gross Cap Cost including dealership fees (ugh), tax, tags $19,575.
- Original dealer price $16,120 before all taxes and fees.
- Residual quoted at 59.62% ($11,664).
- Money factor 0.00150.
- Telling me that the current $750 MFR rebate won't apply to leases (odd, I've used it with previous Toyota leases, but ok).
- Total monthly ~$267/mo.

kyfdx

uclainmd said:

Can you help me figure out if I'm getting a good deal or should still be looking? This is a dealer in VA, but the car would be registered in MD.
- 2015 Corolla LE Gross Cap Cost including dealership fees (ugh), tax, tags $19,575.
- Original dealer price $16,120 before all taxes and fees.
- Residual quoted at 59.62% ($11,664).
- Money factor 0.00150.
- Telling me that the current $750 MFR rebate won't apply to leases (odd, I've used it with previous Toyota leases, but ok).
- Total monthly ~$267/mo.

Have to assume the residual is correct, because the dealer can't alter it, and Toyota residuals are impossible to figure. However, the base money factor for top tier is .00050, so it looks like they may be marking it up..

That $750 rebate is incompatible with the lease.

Hard to say how good the payment is.... I know MD taxes are high on leases. $267/mo sure doesn't sound all that great, but then.... you didn't mention term or mileage.

uclainmd

kyfdx said:

uclainmd said:

Can you help me figure out if I'm getting a good deal or should still be looking? This is a dealer in VA, but the car would be registered in MD.
- 2015 Corolla LE Gross Cap Cost including dealership fees (ugh), tax, tags $19,575.
- Original dealer price $16,120 before all taxes and fees.
- Residual quoted at 59.62% ($11,664).
- Money factor 0.00150.
- Telling me that the current $750 MFR rebate won't apply to leases (odd, I've used it with previous Toyota leases, but ok).
- Total monthly ~$267/mo.

Have to assume the residual is correct, because the dealer can't alter it, and Toyota residuals are impossible to figure. However, the base money factor for top tier is .00050, so it looks like they may be marking it up..

That $750 rebate is incompatible with the lease.

Hard to say how good the payment is.... I know MD taxes are high on leases. $267/mo sure doesn't sound all that great, but then.... you didn't mention term or mileage.

Whoops, rookie mistake. 3 years, 36k miles. MD taxes leases as if you were buying the full car. 6.2% is added to the base price of the car and becomes part of the gross cap. I liked CA's way of handling it so much better (just paid sales tax on the monthly payment).

Thank you for your help!

hoosierhoo1

Could I get RV and MF for a 36/12 Corolla Eco Premium lease in Oregon? Thanks.

Michaell

hoosierhoo1 said:

Could I get RV and MF for a 36/12 Corolla Eco Premium lease in Oregon? Thanks.

58% and .00001

ajwill

Any chance of getting Residuals and money factor for a 2015 Corolla S on 24/12 in Virginia? (24060 if the zip code will help)

kyfdx

ajwill said:

Any chance of getting Residuals and money factor for a 2015 Corolla S on 24/12 in Virginia? (24060 if the zip code will help)

.00050 MF and 73% residual, if Base or Plus.. 68% if Premium

ajwill

OK, so in VA the tax deal is the same as MD where you pay tax on the full purchase price of a vehicle... I got a quote on a 2015 S Plus here (MSRP 23k, Edmunds true value is somewhere at 19.4k) with a negotiated cap cost of 18k, less 1k trade in, depreciation of 14523 and MF of 0.0006. 650 lease acquisition fee, 500 processing fee (seems kinda high), 790 tax and 22 DMV fee - works out to just about 190 a month.

Does this seem like a decent deal?

Michaell

ajwill said:

OK, so in VA the tax deal is the same as MD where you pay tax on the full purchase price of a vehicle... I got a quote on a 2015 S Plus here (MSRP 23k, Edmunds true value is somewhere at 19.4k) with a negotiated cap cost of 18k, less 1k trade in, depreciation of 14523 and MF of 0.0006. 650 lease acquisition fee, 500 processing fee (seems kinda high), 790 tax and 22 DMV fee - works out to just about 190 a month.

Does this seem like a decent deal?

The processing fee does seem a bit high, but you have a strong cap cost so overall the deal looks pretty good for a car that stickers at $23K.

hypnotics

Could you please provide residual and MF for 2015 Toyota Corolla SE 24 & 36m 10k/yr in Mass?
Thank you

Michaell

hypnotics said:

Could you please provide residual and MF for 2015 Toyota Corolla SE 24 & 36m 10k/yr in Mass?
Thank you

I don't see an SE trim level for the Corolla.

hypnotics

I am sorry, LE trim.

Michaell

hypnotics said:

Could you please provide residual and MF for 2015 Toyota Corolla SE 24 & 36m 10k/yr in Mass?
Thank you

hypnotics said:

I am sorry, LE trim.

Not a problem .. want to make sure we get the right numbers

24/10 residual - 72% for LE Base or Plus, 67% for LE Premium

36/10 residual - subtract 8% from 24/10 residual

.00001 MF for both terms.

hypnotics

I am being told by a local dealer that Toyota does not do 10k/yr leases, how true is that?  Thank you

Michaell

hypnotics said:

I am being told by a local dealer that Toyota does not do 10k/yr leases, how true is that?  Thank you

The Toyota docs I have only show residual values for 15K and 12K leases.

mikedefran

MF/Res Value on 2015 Corolla S Prem w/ CVT 36/12k

Thank you so much

ca_1

Hello everyone, can anyone tell me the residual and moneyfactor for a 2015 Corolla in LE and S trims? Im in the 91206 zip code and interested in a 2 year lease, thank you.

kyfdx

mikedefran said:

MF/Res Value on 2015 Corolla S Prem w/ CVT 36/12k

Thank you so much

Regional numbers... which state?

kyfdx

ca_1 said:

Hello everyone, can anyone tell me the residual and moneyfactor for a 2015 Corolla in LE and S trims? Im in the 91206 zip code and interested in a 2 year lease, thank you.

.00004 MF and 69% residual for LE, 71% residual for S for 24mo, 15K/yr.

Subtract 5% if either model has premium package.

mikedefran

Im sorry in PA 19083

kyfdx

mikedefran said:

MF/Res Value on 2015 Corolla S Prem w/ CVT 36/12k

Thank you so much

.00001 MF and 60% residual

ca_1

kyfdx said:

Hello everyone, can anyone tell me the residual and moneyfactor for a 2015 Corolla in LE and S trims? Im in the 91206 zip code and interested in a 2 year lease, thank you.

.00004 MF and 69% residual for LE, 71% residual for S for 24mo, 15K/yr. Subtract 5% if either model has premium package.

Thanks

sam

Hi
Could I get the Res and MF figures for an LE ECO as well as an LE a 36/12 lease in Michigan (48322) please.
Is it true that the lease will be based off of MSRP instead of the negotiated price for Toyota?

kyfdx

sam said:

Hi
Could I get the Res and MF figures for an LE ECO as well as an LE a 36/12 lease in Michigan (48322) please.
Is it true that the lease will be based off of MSRP instead of the negotiated price for Toyota?

For Base and Plus models, the residual is 63% (for either model)

If Premium, then subtract 5% from residual.

.00001 MF

toekneechin05

Hello

Can I please get MF and Residual for a 2015 Corolla S Premium with 36 month lease with 15K/per year in California? This is for the month of July. I am looking to lease this month.

Michaell

sam said:

Hi Could I get the Res and MF figures for an LE ECO as well as an LE a 36/12 lease in Michigan (48322) please. Is it true that the lease will be based off of MSRP instead of the negotiated price for Toyota?

Residual is calculated off the MSRP

toekneechin05

Hello. I was wondering if someone can please provide the MF and Residual for a 2015 Corolla S Premium with 36 month lease with 15K/per year in California? This is for the month of July. I am looking to lease this month.

Michaell

toekneechin05 said:

Hello. I was wondering if someone can please provide the MF and Residual for a 2015 Corolla S Premium with 36 month lease with 15K/per year in California? This is for the month of July. I am looking to lease this month.

56% and .00001

jamescarton

Hi, what is the MF and Residual for a 2015 Corolla LE with a 24 month lease and 10K/per year in New York (July)? Thank You

Michaell

jamescarton said:

Hi, what is the MF and Residual for a 2015 Corolla LE with a 24 month lease and 10K/per year in New York (July)? Thank You

69% and .00001

danimal1126

I was wanting MF and res for corolla S plus 24/10 and 24/12 in Kansas City. Thanks

kyfdx

danimal1126 said:

I was wanting MF and res for corolla S plus 24/10 and 24/12 in Kansas City. Thanks

.00001 MF and 68% residual for 24mo, 12K/yr

eds92

Hi,
Can someone provide current MF and residual for Corolla L and LE for 36/12 lease in PA?
Thank you.

kyfdx

eds92 said:

Hi,
Can someone provide current MF and residual for Corolla L and LE for 36/12 lease in PA?
Thank you.

.00001 MF and 60% residual for either model.