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Toyota Camry Lease Questions



  • saranrsaranr Posts: 17
    Hi Carman,

    Do you have the mf and residuals for the three 2010 camry models?

  • audieddyaudieddy Posts: 37
    edited April 2010

    I'm in the Boston area. For a 2010 base Camry (automatic) would like to know the money factor and residual for a 36m/12k lease. The MSRP on the car is $22,500 and the dealer says they will sell for $18,500. Wwhat I don't know is what fees should be tacked onto the lease. I know dealer has a doc fee of $299 and some misc RMV fees of about $200, but is there a lease fee I need to factor in as well? Trying to do this deal this week. A the base numbers above, any idea what the monthly payment should be?

    Thanks in advance,

  • btmcgrathbtmcgrath OHIOPosts: 10
    Looking into leasing a 2011 SE V6 here in southern Ohio and interested in expectations and arming myself with some data. MSRP 31.9k, 36mo, 15k per year...what should my expectations be...any insights on current MF in this region for this vehicle and the residuals? Thanks in advance. -B
  • mdormdor Posts: 1
    I know a program expired just yesterday, but has anyone seen the numbers for the Camry LE this month?
  • bbotbobbotbo Posts: 1
    We just sealed the deal on an 11 Camry LE up in the Boston area. We did a 3 yr/45,000 mi lease. $313/mo... $299 plus $14 gap insurance. $0 down, $1,058 due at signing (tax, fees, and first month's payment). The MSRP on the car was about $24,000 as we went with the standard LE but added the Pursuit anti-theft/auto start system. They also threw in 25,000 mi/2 yrs of free scheduled maintenance like they have on the commercials. Their initial offer was $380/mo but we ended up getting them down so much because this was our 5th lease from this dealership.
  • dcf1955dcf1955 Posts: 34
    Car man - thanks for getting back to me! Im in Northern CA (San Jose). A dealership just offered 199/mo total w/ tax (9.25%), 15k mi/yr for Camry LE MSRP of 23050. Sale price 19700, 2k down. Any thoughts?
  • k4cityk4city Posts: 1
    Can anyone offer advice on the advantages or disadvantages of purchasing a camry at the end of the lease. I live in Chicago and currently lease a Camry XLE V6 that will term at the end of the year. If I purchase are there opportunities to negotiate on the residual price? Other things to think or request when wanting to buyout?
  • victor23victor23 Posts: 201

    They are too big to bother about buyout and save on matches. They don't want you to keep the car, they want you to buy their new car as often as possible. You are not really a customer for them if you don't buy a new car.

    Sorry for my useless comment, though.
  • irgirg Posts: 197
    I'm looking at leasing probably end of next month (July). I have a Subaru lease ending early Aug. Since the Camry 2011 is already out, I wonder if the leases will change much between now and when I'm ready.

    Is there much differences in the lease rates for a basic LE 4cy. auto vs. the Base? Only differences in these vehicles that I see are keyless entry (can that be added on later?) and a power drive seat. Nice features, but I could probably live without, unless the monthly rates are close. What are people paying now for these models (NY state) with as little down as possible. TIA
  • ejv207ejv207 Posts: 12
    edited June 2010
    Hi Carman, would you please let me know what the MF and residuals are for a for a 2010 Camry Base Model I4 with Automatic Transmission and Camry LE I4 w/ AT? Looking for a 36 mo lease at 12k a year. You said in an earlier post that you have MF & Residuals for the 2011 Model Year Also. Could I please get those? I am located in Central NJ. It would be top tier credit. Thanks !
  • Hi Carman,

    Do you think this is a good deal?

    2010 Toyota Camry Hybrid 36/12 lease
    MSRP = $28,500
    Sale Price = $26,405 (invoice i believe is $26,365)
    Down = $0
    Sec. Dep. = $0
    Acq. Fee = $650
    Residual = 62.45%
    MF = .00117
    Payment = $309.61+tax/month

    Thanks in advance.
  • shellcoshellco Posts: 2
    Hi Carman,

    I negotiated this lease on my own for the first time in my life ( I'm a 61 yr.old female, and it took almost 2 hours!) Please let me know how I did.
    2011 Camry XLE, 4 clylinder, 36 mos, 12k a year. Leather interior, sunroof/moonroof, navigation system and back up camera, probably some other less significant options that I don't remember. Also with 25,000 mi/2 yrs of free scheduled maintenance from the Summer Sale Event. Free inspections. And, a minor thing, I got them to add more of the same wood trim on that is on the console and doors, to the dash board around the radio, etc. Sign and drive, nothing out of pocket, $390.00 includes the 9% PA. tax. tier 1 credit.

    I put my brother on the phone with the manager and he asked him about the MF, residual, list price, sale price, invoice I think, other things that I couldn't hear (cap??). They never finished the conversation due to an emergency that my brother had that shook me up so bad I had to leave before completing the paperwork, but I left them a refundable $500.00 deposit and will go back Monday. If you can answer this before then, I would really appreciate it.
  • vchadvchad Posts: 97

    First off, I dont know your msrp or selling price, but i'm somewhat stunned at how high the monthly payment is. (tho it seems you've got a loaded up car. Just to warn you, Toyota is silly in the way the do residual, once you add options, they WONT residualize those, so basically your paying full price for any add on's, other than what comes base with each specific trim line)

    I think you should get the msrp, selling price, doc fee's, money factor, and report back to us. To me at that price, your in the pre-luxury car segment. I'm not sure where your located, but to get an idea, look up and see what they are selling there models for. That will give you a base line to work from.
  • shellcoshellco Posts: 2
    Thanks for the quick reply! I'm just outside of Philly. The list was $28,588.00. The residual was 17,745.00. I didn't hear what the MF was.They did tell me the options wouldn't be residualized. My son said it doesn't make sense to pay $390.00 for a 29,000.00 car when he just leased a totally loaded 2010 Maxima which was around 40,000.00 list, for $399.00. He'll call his guy tomorrow for me. Should it make a difference in my decision that the Camry is a 2011? The Toyota dealer is expecting me back tomorrow.
  • vchadvchad Posts: 97

    please listen to your son, and run away from that dealership. with that pricetag, there is NO way it should be that high of a payment. somethings just not adding up here. Do yourself a favor, (i am in no way affiliated to them), but go to just call them up, and say hey, this is what i want, please give me a lease quote.

    I'm telling you, its a painfree process, if you live in philly, its like a two hour train ride, and drive the car back. I've done business with them, (i live in michigan) and they are very professional, no funny business. Just give them a call and see what range you get, wiht those options you wanted. I'm willing to bet you'll be in the low 3's.

    if your open to spending in the high 3' something else, no way is a camry worth that. (being an 11 is great, but its no different than 10 model, so it doesn't in anyway warrant a premium price).
  • nate35nate35 Posts: 2
    Hi all. I just left a Toyota dealership in Knoxville, TN. The representative there made me the following offer to lease a 2011 Camry XLE, 4-cylinder.
    Term: 36 months, $12,000 mi/yr
    MSRP: $29,245
    Worksheet price: $27,995
    Money factor: .0007
    Residual: $17,120
    Acq. Fee: $650
    Doc. Fee: $489
    Govt Fees/Taxes: $938.42
    Down: $600 + $3300 Trade in on 2000 Camry (this matches its Bluebook PRIVATE PARTY value)

    The monthly payment we were offered was $289.53 not including GAP insurance.

    I have never leased a vehicle before. Additionally,the trade in component makes this difficult for me to assess the offer. Is this a good deal for me?
  • vchadvchad Posts: 97
    not a very good deal. $1300 off on almost 30k camry, which is a volume car, is bad. you should be aiming for atleast 3k off msrp.
  • nate35nate35 Posts: 2
    Thanks. It seems like they were trying to bait me in by giving me a better trade in rather than coming down on the price. Thus, my down payment, rather than a reduction on MSRP was decreasing the monthly price. I will pursue further. Any additional feedback from other posters (especially the Car Man) would be greatly appreciated! Thanks again.
  • victor23victor23 Posts: 201
    I agree, they are trying to bait, and I see it all the time in these forums. They offer too-good-to-be-true trade-in allowances, and even add some surprising "credits" like "for the service you've done on you trade (new brakes, batteries etc)" and then hit you with a monthly payment not very different from what you'd have even without any trade involved. Which, of course, equals to getting your used car for free or almost for free in addition to making profit on the lease.

    If you need to quickly avaliate how good is the offer, without asking too many questions and crunching too many numbers on your spreadsheet, there is a starting point and a rule of thumb.

    The starting point is the lease specials, which are now offered by all major car manufacturers. For mass-volume mid-size sedans, it is about $199/months on a 36 mo/36k mi lease of the basic trim with automatic after downpayment of typically $1500-3000. These specials are acceptable-to-good, you cannot go wrong with them, but you can do better (sometimes much better) if you try.

    The rule of thumb is that every $1000 you finance adds you about $30 on your monthly payment, and, conversely, every $1000 you put down (in cash or trade) or get a discount from MSRP cuts about $30 from your monthly payment.

    If your MSRP is different, you typically finance 40-50% of the difference.

    Good luck!
  • irgirg Posts: 197
    edited June 2010
    I'm considering two offers (same dealer) for a Camry LE, one is the basic package, the other has the sunroof/alloys package. This dealer has a bottom line price (sale) on all their cars, like Fitzmall, only not as good. I'm in NYState. I have leased from Fitzmall before, but it's a bit of a drive.

    Upgraded LE:
    MSRP: $24385
    Sale price: $22390
    Residual: $14,619
    Money Factor: .00002
    Money down: $1575 (would include the taxes, tags)
    Monthly payment: $234.67

    They are also paying the last payment of my 2006 Subaru Impreza Lease ($209)

    Basic LE:
    MSRP: $23,050
    Sale price: $21,653
    Residual: $14,619 (same)
    Money Factor: .00002
    Money down: $1495 (would include the taxes, tags)
    Monthly payment: $214.18

    I know there is a national lease of $179 with $1599 down, plus tax (8% in NYS), tags.

    So do the above leases seem pretty legit? THanks.
  • irgirg Posts: 197
    edited June 2010
    Another dealer about an hour away, is offering a $239/mo lease with $239 down (first payment) which actually seems like a better deal. Dunno what they woud do about my last Subaru payment (they're a Subaru dealer too). The Subaru has 33k miles on it (48k miles allowed on lease), pretty good shape overall, I think most dealers would eat the payment to resell the vehicle at a profit.

    Edit, the $239 special includes alloys in the fine print.
  • delta737hdelta737h Posts: 606
    edited June 2010
    Okay, irq, let's look at the second one you have listed, which is the basic LE. The numbers are spot on.

    The sell price is, indeed, 21,653. However, there is a TFS $650 acquisition fee that is added to this amount yielding a gross cap of 22,303. You're not making a cap reduction (i.e., down payment) and so your adjusted cap is also 22,303.

    Payment = F x (C + R) + (C - R) / N

    F = Money Factor = 0.00002
    C = Adjusted Cap = 22,303 (21,653 + 650)
    R = Residual Value = 14,619
    N = Term = 36
    P = Payment = 214.18

    The 1,495 is NOT money down. Rather, it represents your upfront lease charges, which you haven't itemized and so, I'm guessing that the 1,495 breaks down as follows...

    NY sales tax @8.00%....... 616.84 (I'm sure of this)
    1st Month's Payment........ 214.18 (I'm sure of this)
    Security Deposit.............. 250.00 (not sure)
    Dealer Doc Fee............... 75.00 (not sure)
    DMV + Misc Fees.......... 338.98 (not sure) :confuse:
    Total Due at Signing... 1,495.00

    The only thing that is questionable is the break down of the upfront 1,495 charge. Suggest that you request a break down.

    Now, let's examine the upgraded LE. Once again, the numbers are spot on. Again, $650 is added to the sell price giving a gross cap of 23,040. And, because there is no cap reduction, the adjusted cap is also 23,040.

    Now, let's see how the 1,575 breaks down...

    NY sales tax @8.00%....... 675.85 (I'm sure of this)
    1st Month's Payment........ 234.67 (I'm sure of this)
    Security Deposit.............. 250.00 (not sure)
    Dealer Doc Fee............... 75.00 (not sure)
    DMV + Misc Fees.......... 339.48 (not sure) :confuse:
    Total Due at Signing... 1,595.00

    And, once again, the only thing that remains questionable is the break down of the 1,595 upfront charge. And so, again, I suggest that you request a break down.

    You may want to tweak the sell price by checking edmund's invoice pricing. Also, check overstock at for competitive pricing information in your area.

    Hope this helps. Questions? Please let me know. :)


    PS: Regarding the basic, the adjusted MSRP, upon which the residual is based,
    appears to be 22,150 for which the residual factor is 0.66
    (Res Factor x Adj MSRP = Residual Value). Apparently, there are some items
    in the MSRP that aren't being fully residualized or, not residualized at all.
    The same appears to be true for the upgrade.
  • irgirg Posts: 197
    Thanks John, very thorough! And yes, the "money down" is indeed broken down as you have it, although I don't have exact numbers either. I'm sure I can get that. I went over today, and gave them a third challenge, which is the current deal of a competitor.

    I don't have specific numbers, but it's basically the same as the basic LE only with the alloys added. $239/mo with $239 down (first payment). All taxes, tags, etc. included. I'm going back Monday to see if we can close this.

    I believe that add ons for the Toyota (sunroof/alloys, etc) are not residualized, so you as the leasee pay for all of that up front through the lease. Not sure why Toyota does that. So leasing a LE with a lot of extras on it, can get pricey. I guess that's why when I cruise the availbiity of Camrys on Fitzmall, you see a lot of fairly unloaded LE models, so they can lease easily, and cheaply.

    I got a call from a Chevy dealer (same overall owner of the Toyota) to lease a Malibu LT1. $1k down, and the lease came to $460/mo. Yikes! Even the salesman said that was a pretty terrible deal, but the Malibus don't lease well right now. Residuals just don't work for leasing. The Altima wasn't nearly as good as the Camry either, but certainly better than the Malibu.
  • delta737hdelta737h Posts: 606
    edited June 2010

    Actually, you don't pay for the add-ons up front as they're included in your payment and amortized over the term of the lease. I think that's what you meant. So, yes, you're quite right because you will pay for all those adds. My guess is that add-ons are dealer installed and their cost is grossly inflated which is why TFS or, any other fund provider for that matter, will not residualize them. Some fund providers will, however, add a percentage of the installed options to the base MSRP. The result is called the adjusted MSRP. The residual value is computed by formulating the product: residual factor x adjusted MSRP.

    When you do finalize the deal and have definitive numbers, I'll be glad to review everything. In the meantime, if you have questions, please fire away!

    Good luck!

  • irgirg Posts: 197
    Thanks again. I don't have the actual numbers in front of me, but I think the deal I'll go with is the Camry LE with just alloys. $238/mo, with nothing down, other than $238 for the first payment. They'll pay off the final Subaru lease payment too (I think). Toyots includes all maintenance for 2 years too, not a huge deal, but I'll take it. This dealer has kind of a no hassle/haggle policy, even the salesman don't work on actual commission, so the car prices are probably not rock bottom, but as good as Edmunds TMV or better.
  • delta737hdelta737h Posts: 606
    edited June 2010

    Sounds like an outstanding deal especially with only the first payment of $238 due upfront coupled with the Subaru payoff. The taxes, DMV fees, etc must have been rolled into the lease. Is that true? If so, that makes it a fantastic deal! I'd run with that in a heartbeat! Congrats and good luck!

  • irgirg Posts: 197
    Yes, tax, tags, etc. are rolled into that lease payment. It's a bit better than the national advertised lease, which is $179/mo with $1599. Divde the $1599 by 36 months, and add the NYS tax, it's about $240. Plus I'm getting the alloys in a sense thrown in here, and the 1 lease payment. We'll know for sure on Monday :)
  • irgirg Posts: 197
    What credit score is needed for Toyota leasing? I've leased before (from Toyota), and currently Honda and Subaru (which will be ending) all with no issues. My credit score is ok, nothing great, nothing bad (no late payments, etc.). Just got a nice increase in salary from work too. But I'm wondering what score I'll need to keep this lease payment as it is here.
  • delta737hdelta737h Posts: 606
    And, don't forget, they may be paying the remaining payments on the Subaru! If so, you've got a good deal if they honor it.

  • delta737hdelta737h Posts: 606

    I'm not exactly sure, but I think you need a credit score of at least 720 to get the TFS top tier rate.

This discussion has been closed.