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Toyota Camry Lease Questions



  • thanks, I found the ad and am oing to see if they will match it here!
  • I'm curious to know if you can get it matched. I called all the other dealerships in SD to see if they could match or beat it. Most didn't return my call as promised. One dealership said they would match it, and, since it was closer to where I lived, I said I'd be over there in 15 minutes to get it --- 5 minutes later the manager called and said he couldn't match the deal and would need more down or more per month. I told them I would just take the deal in the ad then.

    The next day I got a bunch of phone calls from the salesman and manager at the second dealership apologizing for what happened and offering to match the deal now. I told them it was too late! I guess they thought, the cars in the ad were gone or I didn't like the color combinations available. They said the lease would be a huge loss but they wanted to move another unit.
  • azfan00,

    What are the terms of the lease? How many months, mileage, money down, credit rating, etc.
  • Hi teach207. Are you saying that you were quoted a selling price of dealer invoice on this car? If so, that is a very attractive price. Once you have a price that you are happy with, all you have to do is make sure that the dealer you are working with is using Toyota's buy rate lease money factor to calculate your monthly payment. Its money factors vary by region. I would be happy to give you an idea of what the factor should be like in your area if you tell me what state you are in.

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  • Hi pjo1966. By TCH do you mean "Toyota Camry Hybrid?" I've never seen that abbreviation before, but it makes sense. Toyota is currently providing a special lease money factor of .00161 on the 2008 Camry in its Los Angeles region. I am not sure if this factor is available on hybrid models, but I suspect that it is not. If that is the case and you were to lease one through Toyota Financial Services, you would have to use its standard lease money factor. I believe that its buy rate standard money factor varies by region, but it is probably currently around .00275 or so for Tier 1+ customers in your area.

    TFS' residual values vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Its current 36 month, 15,000 mile per year residual value for the 2008 Camry Hybrid is 59%. Keep in mind though that this residual value is for a base model. TFS places restrictions upon which options can be residualized, making it difficult to calculate what models actual dollar residual values are.

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  • Hi sjl2. Toyota's lease program for the Camry varies by region. I would be happy to give you an idea of what this car's current program is like in your area if you tell me what state you are in.

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  • Hi pjo1966. While is is a nice car, $500 per month is nuts for a Toyota Camry. There are a lot of amazing vehicles out there that one could get for that much money. In case you are interested, Toyota Financial Services' current buy rate lease money factor for the 2007 Camry is .00010 for Tier 1+ customers in its Los Angeles region.

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  • Hi azfan00. The money factor that you were quoted for the 2007 Camry that you are interested in is right in line with Toyota Financial Services' current buy rate for the Los Angeles region. This is always a good sign. I don't know what the exact spread is between this car's full MSRP and dealer invoice price, but it is probably at least $3,300. That puts the price that you were quoted at a couple hundred dollars over dealer invoice, which is a pretty good deal. If you like the car, I personally don't see any reason not to pull the trigger on this deal.

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  • pjo1966pjo1966 Posts: 140
    Sorry for leaving out vital info. I've been on this board long enough to know better. What would the residual be on a 2007 Camry Hybrid in LA for 12,000 miles per year? Also, you provided the money factor for a 2008 Camry Hybrid. Would the MF for a 2007 be the same?

    Thanks for the info.
  • Thanks Car_man, I raced over there last Friday and got it.

    Stlpike07, I put down $995 for a 36 month lease at 12k miles/yr. It required a 730 credit score from at least one of the 3 credit agencies.
  • Hi Car_Man,

    New to the board, but had a quick question. My wife and I are looking to lease a new sedan (Camry, Aura, Accord) in the near future, but are looking to put very little money down (we own a 1998 Chevy Blazer with AC/Electrical problems and 140K miles), and pay under $200 a month before tax. We are living in the Los Angeles area, and wanted to know if you think we have a shot with our demands.
  • azfan00,

    It sounds like you got a pretty good deal, especially for an XLE. I purchased a 2007 LE I4 AT demo last November and my payment is higher than that with no money down. (It was the only one at the dealer with the moonroof and JBL stereo previous car was totalled in an accident, other persons fault, so I was without a car for a few months. I love my car but think the payment is a little high.

    The car had a little over 2,000 miles when I leased it. I got a 36 month/45,000 mile lease with a Toyota Platinum Extended Warranty (at a greatly discounted price), and the first three vehicle services free. If I purchased the vehicle my monthly payment would have been $60 more per month.

    My lease payment is $398 a month......Sale price was $200 over invoice $21,384 (MSRP $23,600). And, I have the highest credit, Tier 1+. I'm able to afford the payment no problem, but think I kind of got ripped off. It sucks, but the pressure was on at the time, and this is the first new car I ever purchased. I guess you just live and learn.
  • Don't worry about it, pjo1966. OK, Toyota Financial Services' current residual value for a 36 month lease of a 2007 Camry Hybrid with 12,000 miles per year is 56%. Keep in mind though that TFS publishes residual values for base vehicles. It places restrictions upon which options can be residualized, making it difficult to calculate the actual dollar residual values of vehicles. It's so tricky that Toyota provides its dealers with a list of actual dollar residual values for every vehicle that they have in stock rather than having them calculate then using the residual value percentages like most other banks. Toyota is not providing any lease support on the 2007 Camry Hybrid so the money factor would be the same as the standard factor that I mentioned earlier.

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  • No problem, azfan00. Congratulations on your new Camry. Don't forget to stop by the new Dealer Ratings & Reviews section of to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

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  • Hi nomarbicicleta. Both Toyota and Saturn are advertising $199 per month leases on the Camry and Aura. However, these advertised leases require a down payment to reach that monthly payment and they do not include tax. Of the three vehicles that you mentioned, you will probably be able to get the lowest lease payment on the 2008 Camry right now. You missed the sweet spot for Accord leases. Honda was running a very attractive lease program on the 2007 Accord a couple of months ago, but it is so late in the model year that it has pulled the plug on lease support for 2007 models. The 2008 Accord is now available, but it is a completely redesigned version (which is very nice btw) that Honda does not currently need to provide lease support on.

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  • Car_Man,

    Thank you for your help... however I was told that Honda continually has a sale each October to clear their lots. Any chance of that happening this year as well? Also, how much of a down payment will I need to put down on an 08 Camry to drive off and stay below $200 on my monthly payments (before taxes/interest)?
  • Do all dealers charge the dealer fee when you lease? I am trying to do the advertised lease for $259.17 a month. The dealer wants a $595 dealer fee. I thought the deal was no money down.
  • "Dealer Fee" is just another name for "extra profit".
    Its a creative way to convince buyers to pay more than the agreed upon price. Some call it "dealer fee" others call it "doc fee", etc. But it all means the same.

    Look closely at the advertised lease, it will have something saying "tax, title and dealer fee not included". This gives the dealer a chance to earn more if the buyer is willing to pay more.
  • Hi

    Very useful discussions here. Can anyone provide me with the current mf and residual value for camry CE in northern nj?
  • Sorry forgot to add details. I'm looking for a 36month 12k lease. Any help would be greatly appreciated.
  • Hi, I was just offered the following lease deal. I live in southern New Jersey.

    2008 Camry LE
    MSRP $21,934
    Sales Price $20,907

    $1,500 total out of pocket at signing
    $287 per month for 36 months with 12,000 miles per year

    Does this sound right?

  • Hi all,
    I'm back on this fantastic forum to share and find out new lease deal advertised by toyota. This time I'm shopping for my father.

    Here is the deal I got:

    2008 Toyota CE AT (36 month 12K)
    MSRP: 20,557
    Sale Price: 18,925
    Residual: 12,164 (60.3%)
    Money Factor: .00161

    Initial Payment $1,682 which includes:
    Bank Fee: $550
    First Month Payment $200
    Doc Fees $149
    Mot vehicle Fees $184
    Sales Tax (NJ) $601

    Monthly Payment: $249

    How this deal sounds like?
    Have anyone been able get better price/discount?

    Thanks in advance!
  • Hey! I'm new to this whole lease idea and have a couple questions for you guys. I'm from Minnesota and just got a new car lease quote for a '08 Camry for $285/month for 36 months...This includes options of a moonroof and spoiler. Does this sound about right for you guys? He said that the MSRP was $21,934.00 selling it at invoice of $20,021.00. This includes $1500 down.

    Also, I always told myself that I would never buy a new car just for the fact of the depreciation that happens the first couple years. BUT, I do know that Toyota's, Camry's in particular, depreciate slower than a lot of other cars. I want to buy this car outright when the lease is up and drive it till the wheels fall off since these are such reliable vehicles and I don't want to have a payment every month of my whole life. Does this sound realistic to you guys? ...Or do you think it's a bad idea to lease a car like this with the idea of buying it at the end and keeping it till it dies? Thanks!
  • Hey Car Man,

    I'm in Queens, NYC.

    I was offered invoice pricing of 20,500 and 20,200 for an '08 LE w/ sunroof, metallic silver color.

    My credit is 658 (the middle of the three) so one dealership said it was not worth it for me to lease and said the best moneyfactor they could do was .00369. Another dealership (I guess they must be hungry) is willing to give me money factor of .00261 which translates to about 6.26% APR, which would be only 2.5% points higher than the .00161 which is 3.86%.

    The residual is 13417 (I got the same residual value from 3 difft dealers, so I guess they use the same number from Toyota?)

    All the dealerships want to charge $550 acquisition fee, one of them wants to add tax to it.

    IS there any way to get a dealership to waive the acquisition fee?

    So with invoice price of 20,500 (08 LE w/ sunroof) residual $13416.50, money factor of .00266,
    Acquisition $550 + tax = 596
    w/ $1750 down my monthly payment comes out to $287. Which I think is not a bad deal.
  • this depends on your credit, if your credit score is above 700, you can do better. If you're at 658 like me, that is a very decent deal. I got similar terms except mine comes with sun roof. I'm also putting down $1750, monthly payment of 287. so i guess i'm paying 80$ extra per year to have the sunroof over your package.
  • Looking at a 2008 toyota camry se, 4 cyl., auto, with sport leather and moonroof packages. Haven't discussed "serious" numbers with the dealership, but the salesmen told me he was almost positive i could lease it for 36 months/12k miles, for "a little under" $300/month, after taking in my trade (2002 civic ex coupe with 50,000 miles) that the toyota dealership appraised @ $7,500, and there is no payoff on my trade....does anyone else think this is a bit ridiculous? I mean, for the SE v6 with same packages, maybe...but the 4cyl? btw, this is located in Bangor, Maine
  • I can't believe that...I wasn't going to have a trade-in and my price was just a bit lower than that. Granted you are leasing an SE and I was looking at an LE, but still with that kind of trad-in you should be in the 225 range, maybe lower. Just think, if you sold that vehicle and got 7K for it, and put it all on a down payment on that'd be sitting at like a 150 payment. Tell them to go and screw themselves and sell your car outright, then get your camry. Dealers screw everyone over on trade-ins...

    ALSO, check out When I get my vehicle I'm going to go through them I think. My girlfriend's parents bought a brand new Camry that way and got a HELLUVA deal. Check it out! :)
  • I've listed my car for sale, asking $11k (a bit high maybe, but i'm willing to take less)...then will probably go and talk to the toyota dealership again and see what kind of numbers they can come up with...i may change my mind about which camry i want before then anyway, since I REALLY want an SE V6 ;)
  • any idea what kind of lease payment i'm looking at for an 08 camry se v6 with moonroof package (no leather)
    3 year/36,000 miles lease
    preferably only about 1,000 down
    Thanks in advance!
  • Hi nomarbicicleta. Honda had been providing a very high level of support on the 2007 Accord to help unload dealers' leftover models prior to the arrival of the redesigned 2008 model. Unfortunately, you have missed your window of opportunity if you want to lease an '07 Accord. Honda is no longer running a special lease program on it. There still is a decent amount of dealer cash on it if you want to lease using its standard lease program, finance, or pay cash for it though.

    You would probably have to make a capitalized cost reduction of over $1,000 to get a Camry's monthly payment below $200. You would be better off having a slightly higher monthly payment and not putting any money down. Consumers who make large down payments on leased vehicles risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

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