2016 Toyota Sienna Lease Questions

Michaell

mod220220 said:

Thanks
what are expected dealer and bank fees?  And could you share residual?  What is incentive for dealer to encourage more money down?  My "friend" said .00001 MF expires at end of month, any historical data on MF?

Dealer fee is probably $250, the max allowed in Ohio.

Bank fee for Toyota is $650.

53% residual for FWD Limited Premium for 36/12.

MF won't get any lower than .00001 - that's effectively free money.

mod220220

another dealer just sent me a much better offer:
$47,394 MSRP
$42,295 sale price
$534/month
$900 down which includes fees and first payment
$25,100 residual (53% of MSRP)
.00001 MF

kyfdx

mod220220 said:

another dealer just sent me a much better offer:
$47,394 MSRP
$42,295 sale price
$534/month
$900 down which includes fees and first payment
$25,100 residual (53% of MSRP)
.00001 MF

Yes... it pays to shop around!

mod220220

it just sucks because one of the flaws with the Sienna is there are too many models, overlapping features, a bit confusing. so a friend who works there said to come by and he'd make it quick and easy. our experience was anything but, typical car sales, going back to the manager, low balling, lying, etc. i walked out without a deal. I shoot one email to another dealer and get a deal 10% lower, than our "friends and family deal." what a joke!

Michaell

mod220220 said:

it just sucks because one of the flaws with the Sienna is there are too many models, overlapping features, a bit confusing. so a friend who works there said to come by and he'd make it quick and easy. our experience was anything but, typical car sales, going back to the manager, low balling, lying, etc. i walked out without a deal. I shoot one email to another dealer and get a deal 10% lower, than our "friends and family deal." what a joke!

A recurring theme on the boards - the 'friends and family' discount is anything but.

Glad to kept your options open and found a better deal.

mjoshi

Okay for someone who is totally new to leasing what is this MF and RV ? And how does that affect whole leasing rates ? I'm in Upstate NY and trying to decide for a new minivan (have driven Ody in past and loved the way it handled). For Siena I'm looking at SE or XLE with 8 passanger. What will be good lease deal in upstate NY ? Zipcode 12054.

mjoshi

Forgot to mention I'm looking only for FWD and preferably 24 months 12K / 15K lease.

Michaell

mjoshi said:

Okay for someone who is totally new to leasing what is this MF and RV ? And how does that affect whole leasing rates ? I'm in Upstate NY and trying to decide for a new minivan (have driven Ody in past and loved the way it handled). For Siena I'm looking at SE or XLE with 8 passanger. What will be good lease deal in upstate NY ? Zipcode 12054.

mjoshi said:

Forgot to mention I'm looking only for FWD and preferably 24 months 12K / 15K lease.

Start here for information about leasing:

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

24/15 numbers are 63% for the SE of 64% for the XLE. .00001 MF

maudlin2001

Hi,

Can you please provide the MF/RV numbers (and if there are any lease rebates) on 2016 Sienna XLE in Florida?
I am comparing Sienna XLE with Sedona EX

kyfdx

maudlin2001 said:

Hi,

Can you please provide the MF/RV numbers (and if there are any lease rebates) on 2016 Sienna XLE in Florida?
I am comparing Sienna XLE with Sedona EX

.00169 MF with SETF, but we don't have reliable residual information for the SET area.

maudlin2001

Wow! They really dont wanna lease cars anymore? Isnt 0.00169 too high for Toyota.
My last Sienna lease from July 2013 for 2013 model was 0.00045 and 63%.

kyfdx said:

.00169 MF with SETF, but we don't have reliable residual information for the SET area.

Michaell

maudlin2001 said:

Wow! They really dont wanna lease cars anymore? Isnt 0.00169 too high for Toyota.
My last Sienna lease from July 2013 for 2013 model was 0.00045 and 63%.

kyfdx said:

.00169 MF with SETF, but we don't have reliable residual information for the SET area.

SET marches to the beat of its own drummer, it seems.

oghowie

Could I get the MF and residual for both a Sienna XLE and Limited in CA? Wife is not sure which one she wants yet. Thanks!

24mo / 10k
36mo / 10k

kyfdx

oghowie said:

Could I get the MF and residual for both a Sienna XLE and Limited in CA? Wife is not sure which one she wants yet. Thanks!

24mo / 10k
36mo / 10k

12K/yr is lowest TFS offers.

.00001 MF and $500 lease cash

65%/58% residual for XLE
Subtract 3% for Limited

oghowie

kyfdx said:

oghowie said:

Could I get the MF and residual for both a Sienna XLE and Limited in CA? Wife is not sure which one she wants yet. Thanks!

24mo / 10k
36mo / 10k

12K/yr is lowest TFS offers.

.00001 MF and $500 lease cash

65%/58% residual for XLE
Subtract 3% for Limited

Thanks a lot!

Is there a difference in residual if I get the XLE Premium or Limited Premium?

Michaell

oghowie said:

kyfdx said:

oghowie said:

Could I get the MF and residual for both a Sienna XLE and Limited in CA? Wife is not sure which one she wants yet. Thanks!

24mo / 10k
36mo / 10k

12K/yr is lowest TFS offers.

.00001 MF and $500 lease cash

65%/58% residual for XLE
Subtract 3% for Limited

Thanks a lot!

Is there a difference in residual if I get the XLE Premium or Limited Premium?

Yes, subtract 2% from the residual for both trims.

selvarama

Can some one please provide the MF and residual for Toyota Sienna XLE premium in PA and NJ.

Michaell

selvarama said:

Can some one please provide the MF and residual for Toyota Sienna XLE premium in PA and NJ.

What lease term and how many miles per year are you looking for?

selvarama

36 months/12K.

Michaell

selvarama said:

Can some one please provide the MF and residual for Toyota Sienna XLE premium in PA and NJ.

selvarama said:

36 months/12K.

FWD? 56% and .00001

selvarama

thanks a lot!! Yes, this is for FWD

maudlin2001

Hi,

Can you please provide Sienna LE trim numbers for 36 month, 12K/year for Florida?
Any incentives?

Michaell

maudlin2001 said:

Hi,

Can you please provide Sienna LE trim numbers for 36 month, 12K/year for Florida?
Any incentives?

.00169 MF for SE Toyota, but we don't have any reliable residual information for that region.

No incentive info, either.

avelino

Need MF and RV for 2016 SE 36/12 in NJ.

Thank you!

Michaell

avelino said:

Need MF and RV for 2016 SE 36/12 in NJ.

Thank you!

57% and .00001

avelino

Are the rates the same for the XLE Premium AWD as the FWD model? I am looking in NJ for 36/12.

kyfdx

avelino said:

Are the rates the same for the XLE Premium AWD as the FWD model? I am looking in NJ for 36/12.

In this case, yes.. same for AWD or FWD.

.00001 MF and 56% residual

drew0828

MSRP XLE Premium AWD $42,414
Edmunds Price Promise of $38,343 plus another email coupon of $500 off to bring to $37,843
Residual $23,752
12k/36 month
.00001

I calculate that my payment before any taxes and fees should be $392. If I pay all taxes, fees, and first payment up front I estimate I should have to put out around $2400 at signing. If taxes are included in payment then I calculate a monthly payment of about $420 and about $1420 at signing, Dealer said no your wrong. Am I missing something here?

kyfdx

drew0828 said:

MSRP XLE Premium AWD $42,414
Edmunds Price Promise of $38,343 plus another email coupon of $500 off to bring to $37,843
Residual $23,752
12k/36 month
.00001

I calculate that my payment before any taxes and fees should be $392. If I pay all taxes, fees, and first payment up front I estimate I should have to put out around $2400 at signing. If taxes are included in payment then I calculate a monthly payment of about $420 and about $1420 at signing, Dealer said no your wrong. Am I missing something here?

$1420 at signing and $420/mo. is virtually identical to $2400 at signing and $392/mo. (add it up)

Your monthly payment calculations are correct. However, I don't know which state you live in and the tax treatment on leases. It's possible that some of the upfront money you planned on making was rolled into the lease by the dealer.

avelino

Hi Drew, let us know if you get that deal and if you are in NJ.

drew0828

avelino said:

Hi Drew, let us know if you get that deal and if you are in NJ.

I am in NJ. I was told my math is incorrect and the dealership would be loosing $2300. Taxes in NJ are paid on the depreciation I believe. Doc fee is 299, reg/title like $400 and equation fee of $595. The way I see it as they wouldn't honor the Edmund's price promise quote that I was sent. Sales manager said no way interest on a 42k car was like .50 or .60 a month but couldn't tell me how to calculate it.

Michaell

drew0828 said:

avelino said:

Hi Drew, let us know if you get that deal and if you are in NJ.

I am in NJ. I was told my math is incorrect and the dealership would be loosing $2300. Taxes in NJ are paid on the depreciation I believe. Doc fee is 299, reg/title like $400 and equation fee of $595. The way I see it as they wouldn't honor the Edmund's price promise quote that I was sent. Sales manager said no way interest on a 42k car was like .50 or .60 a month but couldn't tell me how to calculate it.

Would love to know how the dealer knows the math is incorrect. The math is the math; only the numbers change.

In NJ, tax is calculated on the sum of the payments and is collected up front - you can either pay them with your other inception costs or add the tax amount into the capitalized cost.

And, I wouldn't trust the sales manager to know much about lease calculations. Heck, even the finance manager doesn't always get it right ....

drew0828

Ended up going to another dealer in NJ and got the following:
2016 XLE Premium AWD MSRP: $43,607
Selling Price $38,800
Residual $24420
Due at Signing $2750 which includes taxes (7%), doc, acquisition fee, registration ,and first payment
$400 a month.

kyfdx

drew0828 said:

Ended up going to another dealer in NJ and got the following:
2016 XLE Premium AWD MSRP: $43,607
Selling Price $38,800
Residual $24420
Due at Signing $2750 which includes taxes (7%), doc, acquisition fee, registration ,and first payment
$400 a month.

Congrats! Looks like a solid deal.

selvarama

Drew0828 - Congrats!!. Seems pretty solid deal.. If you dont mind, can you please share the dealer name? I am getting a similar offer for XLE premium FWD - around 470 a month, 0 due. Hoping to get a reasonable deal. I am in NJ

avelino

First of all, I want to say thank you to everyone on these forums. These discussions are essential in getting the best deal possible. Let me know what you think. I just picked it up in NJ.

Sienna XLE Premium FWD MSRP $39835
Selling price $36839
Residual $22308
Zero due at signing. This was the amazing part. I never did a true "sign and drive". I had to look over the paperwork to make sure I wasn't getting ripped off somewhere.
I did add the damage waiver $10/month by my choice but they threw in the cross bars that are worth a couple hundred. I just returned a 2013 528xi and the damage waiver saved me a ton of headaches when I brought it back.

Total $482/month for 35 months/12K. Even the first payment was in the deal. I'm never leasing any other way. There should be a money factor forum highlighting the lowest rates out there. It's a no brainer.

Total "Rent Charge: $22.32.

Michaell

avelino said:

First of all, I want to say thank you to everyone on these forums. These discussions are essential in getting the best deal possible. Let me know what you think. I just picked it up in NJ.

Sienna XLE Premium FWD MSRP $39835
Selling price $36839
Residual $22308
Zero due at signing. This was the amazing part. I never did a true "sign and drive". I had to look over the paperwork to make sure I wasn't getting ripped off somewhere.
I did add the damage waiver $10/month by my choice but they threw in the cross bars that are worth a couple hundred. I just returned a 2013 528xi and the damage waiver saved me a ton of headaches when I brought it back.

Total $482/month for 35 months/12K. Even the first payment was in the deal. I'm never leasing any other way. There should be a money factor forum highlighting the lowest rates out there. It's a no brainer.

Total "Rent Charge: $22.32.

Congrats and enjoy the new Sienna!

selvarama

Avelino - Congrats on the new Sienna... The Damage waiver was from Toyota (Excess wear & tear protection) or from the thrid party? and what was the price quoted for the GAP insurance?

avelino

Damage waiver was from Toyota. The GAP insurance, which was also from Toyota, was $20/month! Crazy. I got it from my insurance company for $3/month and I can cancel anytime.

pgr1

Appreciate your help on this.

Will be leasing a 2016 Sienna Premium Limited AWD in NJ this month. Looking at 47310 MSRP, and looking for 15k miles and 36 month lease. Edmunds says 43208 should be price I pay.

Looks like in reading this board, I should expect a .0001 MF and maybe a 58% residual, is that right?

So plugging that into the edmunds calculator, I get $557/m (plus 7% NJ tax I assume?), plus security deposit but nothing else out of pocket. Am I doing that right?

selvarama

Avelino - thank you for the information. was the $10 a month was the original cost offered or need to negotiate to lower it?

kyfdx

pgr1 said:

Appreciate your help on this.

Will be leasing a 2016 Sienna Premium Limited AWD in NJ this month. Looking at 47310 MSRP, and looking for 15k miles and 36 month lease. Edmunds says 43208 should be price I pay.

Looks like in reading this board, I should expect a .0001 MF and maybe a 58% residual, is that right?

So plugging that into the edmunds calculator, I get $557/m (plus 7% NJ tax I assume?), plus security deposit but nothing else out of pocket. Am I doing that right?

.00001 MF (4 zeroes) and 52% residual.

You picked the trim line with the lowest residual.

That equals $517.53 +tax. Not sure what you put in the calculator, or what assumptions it makes, but that's way off your number.

Keep in mind that Edmunds TMV may include incentives that aren't valid on a lease.

poodoc82

Can you help with the MF and residuals for XLE premium and limited AWD 36/12 and 36/15 in Iowa? Thanks in advance!

Michaell

poodoc82 said:

Can you help with the MF and residuals for XLE premium and limited AWD 36/12 and 36/15 in Iowa? Thanks in advance!

36/15 numbers:
XLE AWD - 56%
Limited AWD - 53%

.00001 MF for both. Add 2% for 12K

paperboyccc

Dealer is quoting selling price of $35,729 on an XLE Premium MSRP $39,835. Registration and dealer fees are $529 on a 36/12 sign n drive lease they are quoting $504/mo (not sure if taxes are included)

I get $440/mo including taxes. Am I doing anything wrong? Even if I remove the $500 lease rebate that I might be counting twice I get $455/month. How much is the lease cash on the Sienna anyways?

Michaell

paperboyccc said:

Dealer is quoting selling price of $35,729 on an XLE Premium MSRP $39,835. Registration and dealer fees are $529 on a 36/12 sign n drive lease they are quoting $504/mo (not sure if taxes are included)

I get $440/mo including taxes. Am I doing anything wrong? Even if I remove the $500 lease rebate that I might be counting twice I get $455/month. How much is the lease cash on the Sienna anyways?

The only variables in a lease are the capitalized cost and the MF.

I would confirm the cap cost the dealer is using to get their $504/mo payment quote.

kyfdx

@paperboyccc

It's still a 36 month lease, even if they are covering the first payment, so calculate it that way.

.00001 MF, not .0001

Don't see any allowance for tax on your screen shot.

Pretty sure that the TFS acquisition fee is $650.

paperboyccc

kyfdx said:

@paperboyccc

It's still a 36 month lease, even if they are covering the first payment, so calculate it that way.

.00001 MF, not .0001

Don't see any allowance for tax on your screen shot.

Pretty sure that the TFS acquisition fee is $650.

Thanks. I have attached the dealer quote. My guess is that selling price they are quoting is only for a purchase and that they are offering MSRP minus $500 for a lease. I get $506/mo pretax if I plug MSRP into the lease calculator.

Michaell

paperboyccc said:

kyfdx said:

@paperboyccc

It's still a 36 month lease, even if they are covering the first payment, so calculate it that way.

.00001 MF, not .0001

Don't see any allowance for tax on your screen shot.

Pretty sure that the TFS acquisition fee is $650.

Thanks. I have attached the dealer quote. My guess is that selling price they are quoting is only for a purchase and that they are offering MSRP minus $500 for a lease. I get $506/mo pretax if I plug MSRP into the lease calculator.

Yes, that looks like a purchase quote - in CA, the sales tax is calculated against the monthly payment, not the entire selling price.

This wouldn't happen to be an AutoNation dealer, would it? They are famous for lease quotes that look like this, without all the supporting numbers behind the quoted lease payment.

avelino

No negotiation needed. He actually sold it to me for $336 and I think he raised the price of the vehicle to make it an extra $10/month even. $10 was fair so I didn't argue. If he would have come in at $20 like the GAP insurance I would have balked.