2016 Toyota Corolla Lease Questions

Michaell

jaykrat said:

Hi.. I am in OH and looking to lease a 2016 Corolla LE.. It looks like the dealer is willing to sell for $16,800 (plus fees and taxes) which includes the $1000 customer cash incentive from Toyota.. Is that a good price if I decide to buy?

I also see that there is a $1000 lease cash for corolla.. Can they be combined to bring the price down to $15,800 if I decide to lease? The dealer doesn't think so..

We don't track selling prices - use the 'make / model / year' pull downs to link to the price tools.

The customer cash is for purchases only, and cannot be combined with the lease cash.

seek_lease

kyfdx said:

seek_lease said:

Thank you!

How about the same conditions (12k/yr, 24 & 36 mo) for the LE, LE Eco, and S Plus? They've got all the variants at my local dealership. Sorry to ask for so many; they're similar enough for my tastes that I'm just looking for the lowest price/month. Were there no additional incentives?

Subtract 2% for LE and LE Eco
Subtract 1% for S Plus

Is there any lease cash for this region? (Kansas)

Michaell

seek_lease said:

kyfdx said:

seek_lease said:

Thank you!

How about the same conditions (12k/yr, 24 & 36 mo) for the LE, LE Eco, and S Plus? They've got all the variants at my local dealership. Sorry to ask for so many; they're similar enough for my tastes that I'm just looking for the lowest price/month. Were there no additional incentives?

Subtract 2% for LE and LE Eco
Subtract 1% for S Plus

Is there any lease cash for this region? (Kansas)

Closest region I have numbers for is Chicago ... $1000 lease cash.

etonic13

hi all,

2016 corolla s premium mf and resid in NY

36/12

kyfdx

etonic13 said:

hi all,

2016 corolla s premium mf and resid in NY

36/12

Don't have the NY numbers, but should be around .00070 MF. Most regions have $1000 lease cash. 60% residual

alexander_e

Hi,
Can I get the MF, residual, and any incentive information for the 2016 Corolla LE for NC (28027) for 36 and 24 months with 12k miles/year. Thanks!

lulug16

I'm looking for the residual value and MF for 2016 Toyota Corolla S plus for 36 months 15,000 a year in the crown point Indiana area.

kyfdx

lulug16 said:

I'm looking for the residual value and MF for 2016 Toyota Corolla S plus for 36 months 15,000 a year in the crown point Indiana area.

.00066 MF and 61% residual. $1000 lease cash.

kyfdx

alexander_e said:

Hi,
Can I get the MF, residual, and any incentive information for the 2016 Corolla LE for NC (28027) for 36 and 24 months with 12k miles/year. Thanks!

.00014 MF for 24 months
.00129 MF for 36 months

Unfortunately, we don't have the residuals for SET Finance.

cuttymcgavin

Hi can I please get the current MF and residual for 2016 corolla LE for NJ 07424. I would like both 36 and 24 with 12k per year? Thank You.

Michaell

cuttymcgavin said:

Hi can I please get the current MF and residual for 2016 corolla LE for NJ 07424. I would like both 36 and 24 with 12k per year? Thank You.

69% / 62%.

I don't have the specific MF for NJ, but a quick look at other regions show a MF between .00065 and .00080.

cuttymcgavin

Thank You!

ldyluck7

Carman, what is the residual value and money factor for 2016 Toyota Corolla S in Texas (Houston) for 24/36 mos and 12k miles please?

Thank you!!
Christine

Michaell

ldyluck7 said:

Carman, what is the residual value and money factor for 2016 Toyota Corolla S in Texas (Houston) for 24/36 mos and 12k miles please?

Thank you!!
Christine

71% / 64% and .00073. $1000 lease cash.

lazywarrior

Good Evening. May i please have the residual value and money factor for a 2016 corolla L auto and a LE auto for 24/36 months and 10k/12k miles a year. Zip is 33187 (miami). Can you also let me know if there is any lease cash this month? i will be probably posting again this Saturday for your help as i will be going this weekend to HOPEFULLY lease the car if i get a good deal and would like for you experts to review all the numbers i'm given from the dealer. Thank you all in advance.

kyfdx

lazywarrior said:

Good Evening. May i please have the residual value and money factor for a 2016 corolla L auto and a LE auto for 24/36 months and 10k/12k miles a year. Zip is 33187 (miami). Can you also let me know if there is any lease cash this month? i will be probably posting again this Saturday for your help as i will be going this weekend to HOPEFULLY lease the car if i get a good deal and would like for you experts to review all the numbers i'm given from the dealer. Thank you all in advance.

.00129 MF

Unfortunately, we don't have a reliable source for SETF residual percentages.

lazywarrior

ok, thanks you for the quick reply. Question, this is being offered in my area.

"For well-qualified lessees with approved credit through Southeast Toyota Finance. Not all lessees will qualify for this payment amount. Closed-end lease on new 2016 Corolla LE model # 1852 with automatic transmission and select equipment. Adding options increases payment. $159.00 per month for 36 months. $2,558 due at signing includes $2,399 down payment and first month's payment. No security deposit required. $17,581 Adjusted Capitalized Cost is based on down payment; excludes tax, tag, registration, title and dealer fees. Dealer fees vary by dealer. Monthly payments do not include applicable taxes. Lessee pays the remainder of maintenance after ToyotaCare expires, excess wear and tear, and $0.18 per mile over 12,000 miles per year. Lease-end purchase option is $13,287 and lease payments total $5,724. Disposition Fee of $350 due at lease-end. Cannot be combined with any other offers. Must take delivery between 06/01/16 - 07/05/16."

We have tier 1 credit so I'm not worried about qualifying. My question is, trying to learn the leasing details. This offer is missing MF correct? and I want to say it's also missing the MSRP (i'm understanding that the adjusted cap cost is the "negotiated" price of the car. Please correct me if i'm wrong). Sorry for all the questions, I just want to be prepared to negotiate when I go in on saturday. Thank you all again !!!

Michaell

lazywarrior said:

ok, thanks you for the quick reply. Question, this is being offered in my area.

"For well-qualified lessees with approved credit through Southeast Toyota Finance. Not all lessees will qualify for this payment amount. Closed-end lease on new 2016 Corolla LE model # 1852 with automatic transmission and select equipment. Adding options increases payment. $159.00 per month for 36 months. $2,558 due at signing includes $2,399 down payment and first month's payment. No security deposit required. $17,581 Adjusted Capitalized Cost is based on down payment; excludes tax, tag, registration, title and dealer fees. Dealer fees vary by dealer. Monthly payments do not include applicable taxes. Lessee pays the remainder of maintenance after ToyotaCare expires, excess wear and tear, and $0.18 per mile over 12,000 miles per year. Lease-end purchase option is $13,287 and lease payments total $5,724. Disposition Fee of $350 due at lease-end. Cannot be combined with any other offers. Must take delivery between 06/01/16 - 07/05/16."

We have tier 1 credit so I'm not worried about qualifying. My question is, trying to learn the leasing details. This offer is missing MF correct? and I want to say it's also missing the MSRP (i'm understanding that the adjusted cap cost is the "negotiated" price of the car. Please correct me if i'm wrong). Sorry for all the questions, I just want to be prepared to negotiate when I go in on saturday. Thank you all again !!!

That's not an offer, that's an ad. Which, with some decent negotiation skills, you ought to be able to beat.

Correct, no MF or MSRP listed.

Use this link to educate yourself about leasing:

http://www.edmunds.com/car-leasing/

lazywarrior

thank you all very much - last question (i hope). When i'm calculating the lease estimate, do i use the negotiated price of the car out the door (meaning all fees ie: dealer docs fees ect) or negotiated price of the vehicle BEFORE dealer fees? Again, I thank you all for your quick responses. It's much appreciated. Great edmunds community.

Michaell

lazywarrior said:

thank you all very much - last question (i hope). When i'm calculating the lease estimate, do i use the negotiated price of the car out the door (meaning all fees ie: dealer docs fees ect) or negotiated price of the vehicle BEFORE dealer fees? Again, I thank you all for your quick responses. It's much appreciated. Great edmunds community.

You use the adjusted cap cost - the selling price plus any taxes and fees you are NOT paying up front, less any cap reduction (down payment) you are making.

jgalindo1224jg

Hi im looking to lease a 2016 corolla l for 2 yrs sale price $15947 what wouldni be looking at montly with nothing down

kyfdx

jgalindo1224jg said:

Hi im looking to lease a 2016 corolla l for 2 yrs sale price $15947 what wouldni be looking at montly with nothing down

What is the MSRP?
Is that sale price good for a lease, as well?
What mileage allowance?
Which state?
Automatic or manual?

jgalindo1224jg

kyfdx said:

Hi im looking to lease a 2016 corolla l for 2 yrs sale price $15947 what wouldni be looking at montly with nothing down

What is the MSRP? Is that sale price good for a lease, as well? What mileage allowance? Which state? Automatic or manual?

Msrp 18890 includes $835 destination fee it should be i havent gone to the dealer yet i got tthe price of edmunds pricing... Milage 12k new york and automatic

kyfdx

jgalindo1224jg said:

kyfdx said:

jgalindo1224jg said:

Hi im looking to lease a 2016 corolla l for 2 yrs sale price $15947 what wouldni be looking at montly with nothing down

What is the MSRP?
Is that sale price good for a lease, as well?
What mileage allowance?
Which state?
Automatic or manual?

Msrp 18890 includes $835 destination fee it should be i havent gone to the dealer yet i got tthe price of edmunds pricing... Milage 12k new york and automatic

68% residual for 24/12.

Don't have the NY region numbers, but Corolla MF vary from .00080-.00099 in most areas.
Plus, $1000 lease cash.

If I add in the $650 acq.fee and about $375 for tax, I get $202/mo., with just first payment and DMV fees at signing..

solidoussnk

Seeking MF and RV on 2016 Corolla L and any known incentives. 36/10k or 36/12k. Or best terms for lowest MF highest RV. Thanks a lot.

kyfdx

solidoussnk said:

Seeking MF and RV on 2016 Corolla L and any known incentives. 36/10k or 36/12k. Or best terms for lowest MF highest RV. Thanks a lot.

No 10K/yr leases for TFS.

Which state? Manual or automatic?

solidoussnk

Nj, automatic, thanks.

kyfdx

solidoussnk said:

Nj, automatic, thanks.

.00042 MF and 61% residual

gunrock

Can you please provide MF & Residual Numbers for a 2016 Corolla LE, San Francisco Bay Area.

Looking for a 2 year/12k or 15k mileage.

Thanks!

kyfdx

gunrock said:

Can you please provide MF & Residual Numbers for a 2016 Corolla LE, San Francisco Bay Area.

Looking for a 2 year/12k or 15k mileage.

Thanks!

66%/65% residual and .00042 MF

jigjawsh

Can you please provide money factor and residual values for a 2016 LE Corolla, zip code 92019, 3 year 12k miles? Thank you

Michaell

jigjawsh said:

Can you please provide money factor and residual values for a 2016 LE Corolla, zip code 92019, 3 year 12k miles? Thank you

61% and, we think, .00042. MF numbers are regional, and we don't have anything for the western US.

b56nova

Can you provide money factor and residual for 2016 Corolla S Plus Los Angeles Area, 3 year 12k miles and 2 year 12k miles. Thanks!

Michaell

b56nova said:

Can you provide money factor and residual for 2016 Corolla S Plus Los Angeles Area, 3 year 12k miles and 2 year 12k miles. Thanks!

62% or 68% and .00042. $1000 lease cash.

gthomasbaldwin

Can you provide money factor and residual for 2016 Corolla S Plus in Eugene, Oregon - 3 year 12k? Thanks!

gthomasbaldwin

Also, is 60%+ common for residuals over 36 months? I had always heard that after 3 years the rule of thumb was that a car loses half its value. Is it just a good time to be leasing?

Do any cars out there jump out at you as having especially high residuals right now?

kyfdx

gthomasbaldwin said:

Can you provide money factor and residual for 2016 Corolla S Plus in Eugene, Oregon - 3 year 12k? Thanks!

.00042 MF and 62% residual

kyfdx

gthomasbaldwin said:

Also, is 60%+ common for residuals over 36 months? I had always heard that after 3 years the rule of thumb was that a car loses half its value. Is it just a good time to be leasing?

Do any cars out there jump out at you as having especially high residuals right now?

Your rule of thumb is basically correct.

But, to market vehicles, they target a certain payment. They can get there with upfront incentives, low financing costs (money factor) or high residuals. Any or all of those might lower the payment to hit their target. Doesn't mean that the residuals have to reflect reality.

It is a good time to lease.

gthomasbaldwin

Ugh, give me strength.
I got what seems like a fantastic sales price for the vehicle I identified - $16,200 out the door. But, when I say I want a lease they tell me they aren't allowed to use that price, instead they insist on going all the way up to $17,900.
We're not in any hurry, so I guess it really doesn't matter to us, but I did offer to split the difference.

I wanted to come up with a cool payment of $123.45 per month for 36k/12mo.
Can you check my math on this?
Corolla S Plus, in Eugene, OR
Sales price of $17,085.50
MSRP of 21,125
Residual 62%
MF of .00042

Using the formula from one of the Edmunds articles I came up with $110.78 in depreciation/month, + $12.67 in interest to achieve the $123.45 payment

Michaell

gthomasbaldwin said:

Ugh, give me strength.
I got what seems like a fantastic sales price for the vehicle I identified - $16,200 out the door. But, when I say I want a lease they tell me they aren't allowed to use that price, instead they insist on going all the way up to $17,900.
We're not in any hurry, so I guess it really doesn't matter to us, but I did offer to split the difference.

I wanted to come up with a cool payment of $123.45 per month for 36k/12mo.
Can you check my math on this?
Corolla S Plus, in Eugene, OR
Sales price of $17,085.50
MSRP of 21,125
Residual 62%
MF of .00042

Using the formula from one of the Edmunds articles I came up with $110.78 in depreciation/month, + $12.67 in interest to achieve the $123.45 payment

I'm off by a couple of pennies, which I'll attribute to a rounding error. But, that's still a very low payment for a nice car.

It's quite common for there to be specific purchase incentives that don't apply to a lease.

rounds25

Hi can I please get the current MF and residual for 2016 corolla S Plus for Memphis, TN . I would like 36 with 12k per year? Thank You.

Sale Price with incentives, etc: 20943
Taxes: 9.25
MSRP: 22184

The dealer is quoted me .00180 with tier one credit. This does not seem correct.

kyfdx

rounds25 said:

Hi can I please get the current MF and residual for 2016 corolla S Plus for Memphis, TN . I would like 36 with 12k per year? Thank You.

Sale Price with incentives, etc: 20943
Taxes: 9.25
MSRP: 22184

The dealer is quoted me .00180 with tier one credit. This does not seem correct.

We don't have all the regions, but the ones we do have are around .00042 MF.
62% residual

shotzy4

Do you have the current numbers for ny corolla le 36 / 12

Thanks

Michaell

shotzy4 said:

Do you have the current numbers for ny corolla le 36 / 12

Thanks

61% and .00042.

$1000 lease cash

gthomasbaldwin

Curious if there are updated incentives, mf and residuals for Corolla S and S+ in Las Vegas, Nevada
36/12

Michaell

gthomasbaldwin said:

Curious if there are updated incentives, mf and residuals for Corolla S and S+ in Las Vegas, Nevada
36/12

No change on the residuals .. these are valid until the end of September.

We have limited MF information ... .00042 is really the only MF I show. And $1000 lease cash.

But, cannot be certain those numbers will be true where you are.

59burst

Could I please have the numbers on a 2016 Corolla L Automatic in CA for 24 months?

Thanks a lot!

Michaell

59burst said:

Could I please have the numbers on a 2016 Corolla L Automatic in CA for 24 months?

Thanks a lot!

How many miles per year?

59burst

Michaell said:

59burst said:

Could I please have the numbers on a 2016 Corolla L Automatic in CA for 24 months?

Thanks a lot!

How many miles per year?

12k. Any numbers for milage less than 12k? Would appreciate if you can provide those as well. Thank you.

Michaell

59burst said:

Michaell said:

59burst said:

Could I please have the numbers on a 2016 Corolla L Automatic in CA for 24 months?

Thanks a lot!

How many miles per year?

12k. Any numbers for milage less than 12k? Would appreciate if you can provide those as well. Thank you.

67% for 24/12. If 10k is an option, add 1%.

.00042 MF.