Toyota Camry Lease Questions

CarMan@Edmunds

Hi KevCamry. A selling price of $20,950 on a leased Camry that has a dealer invoice price of $20,742 is a very good deal. Toyota's lease money factor for this model varies by region, but the one that you were quoted looks about right.

The only thing that I don't like about this deal is the large down payment that you are being asked to make. I personally always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you would be much better off going with a zero down lease.

In short, this looks like a good deal, just get rid of the down payment.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

The selling price that you mentioned in your post looks good to me, toyoman8. The money factor looks a little high, but you don't qualify for Toyota Financial Services' top credit tier.

I see that you are considering using the equity that you have in your trade as a capitalized cost reduction for your lease. There's nothing wrong with trading in a vehicle when leasing, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade, rather than using the proceeds from it as a down payment for your lease. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi toyoman8. Toyota's customer cash incentive on the 2009 Camry is $1,000 to $1,500. The exact amount varies by region. Unfortunately, its cash incentives are usually not compatible with its special lease program.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi bc012001. Toyota's lease program varies depending upon which one of its twelve regions you are in. If you tell me what state you live in, I should be able to give you the exact lease program that is good in your area. For now I will assume that you are in Toyota's Southern California region.

Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Camry SE with 15,000 miles per year are .00125 and 59%, respectively for consumers who qualify for its Tier 1+ credit tier. The problem with this is that TFS places restrictions upon what options can be residualized, making it difficult for consumers to calculate the dollar residual values for actual vehicles.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi bc012001. Unfortunately you are in Toyota's Southeast region. SE Toyota does not use Toyota Financial Services for leasing. Instead it uses its own captive finance company, which I do not personally keep tabs on. Sorry that I could not be of more help.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi th83. Unfortunately you are in Toyota's Southeast region. SE Toyota does not use Toyota Financial Services for leasing. Instead it uses its own captive finance company, which I do not personally keep tabs on. Sorry that I could not be of more help.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Bobnvirginia

Hello,

I am considering a 2009 Camry SE, 4cyl 5spd auto, jbl, moonroof and sport leather pkg and VSC.

Internet Gen Mgr Special in Northern Virginia $22,755.00 trading in a car $2700.00 upside down.

Looking for advice on the price and any lease info......57% residual but do not know the money factor for my area.

Help! And Thank You!

kiawah

A little hard to do comparisons not knowing the true value of your trade and whether it is really upside down or they're just telling you that.....but compare the new vehicle against www.fitzmall.com, they have 17 SE's you can compare. May want to get a standalone trade value on your trade from an automall, so you can do apples to apples comparisons on the deals.

shand32783

So without much work you can get a 2009 Camry LE Auto model for about 90% of MSRP:

Model 2532 is $21,425 includes destination charge, but excludes state and local taxes, tags, registration and title, insurance and dealer charges. Adjusted Capitalized Cost is $19,236 based on dealer participation.

How much wiggle room do you think there is in there for negotiating?

Also do you think it's possible to get a Corolla in that same area? About 90% of MSRP for a lease also?

Thanks for your thoughts!

maennj

Hello guys,

I have been in a dealership and was trying to lease camry le 2009. The cap cost was $19,995, residual value was $15,500 according to the dealer (24 months, 12k mile) and money factor is 0.0027.

Please tell me what would be the monthly payment if I paid $4,500 down.
The dealer said it's $159 and I thought it's too high considering that the depreciation is only $4495. I offered $120 monthly

kiawah

Restructure the deal, you don't want to put money down on a lease. If you are in an accident and the vehicle is totaled, you will loose your money.

maennj

Hi,

Ok, let's say I put more money on monthly and reduce the down payment to only dealer fees. How much should be the monthly payment ? Because according to the numbers I give, it should be incredibly low . Can you help me with this

Thanks

kiawah

I'm not a leasing expert, but I think the error in your logic is that you are viewing the 4500 depreciation as the only amount that you are financing, and needing to pay back with your payments.

The bank/leasing company is fronting the complete 20Kish of money to pay the dealership, with the expectation of getting a leasing stream for 2 years, and then a cash settlement on the sale of the car, plus absorbing the risk of the transaction (you defaulting, or car not selling for the residual), plus profit added on for them, plus origination fees and taxes.

I'm not in the market and haven't been watching the papers for a year, but as I remember approximately 200 a month for a 3 year deal was in the ballpark. That was all before the economy going south, and the credit market tanking.

I believe 2 year leases are less desirable and should cost more per month, compared to a 3 year lease.

I just looked in the paper, and didn't see any local ads for Toyota leases, so I don't have a comparison for you.

maennj

Aah ok that explains. Thank you for information .

LordOrion420

I am going through a lease broker

They just came at me with these numbers

My credit is over 700+ with Transunion

Toyota Camry 2009 SE V6 with Nav and all the bells and whistles

Msrp 31,734
Negociated Price 28,146
Out of pocket (license,bank fees, 1st payment, etc... ) 1,500
00135 Money Factor
61% Residual
12,000 Miles a year

$483.99 including tax per month

Is this a good deal? They are pressuring me to close asap

PLEASE HELP ME PEOPLE

I am located in California

bmathis

What is your lease term?

LordOrion420

My lease term is 36 months

LordOrion420

ANYONE??

Please they are calling me agressive to close

Why can't I get tier 1 +

Please let me know if I am getting a fair deal

ral2167

not sure what a lease broker is-- is it someone who does your bidding for you? if so, I assume they get a piece of the pie... so... why aren't you negotiating the deal yourself and cutting out the middle man?

was this the first offer you received, or did it take a bit of negotiating to get it to $480 a month?

if it's the first offer, then maybe you'd want to make a counter.

hard to say if the deal is fair... are you satisfied with the $480 a month payment? affordable? something you can easily live with? if so, what difference does it make if you find out later you couyld have gotten $450 a month, say.

as an aside, I wonder why people lease a really nice car for 10K miles a year, or even 12K. Seems they're hardly driving the piece of iron to appreciate it. Just strikes me odd someone would lease a car with navigation on a 10K mile lease-- who needs navigation to drive to and from the grocery store? but i digress.

not sure i helped here-- probably didn't.

colshea

I got a quote today on a Camry LE. I want to know if it sounds right. According to some of these posts, people got much better deals. No money down, 36 month lease, 18k miles per year. The total including all taxes is $349/month and $540 for DMV costs. Is that high?

kiawah

that's a lot of annual miles, is that what you wanted?

magyck0ne

My credit was "FAIR"

I got the SE @ zero down at for 425.00 per.mo (plus gap insurance) and 15,000 miles per (sticker was 28,000)

Personally, I think you got a good deal... but your score (and haggling abilities) may be better than mine....

Whatever... Great Car, Have Fun ;o} ;o} ;o}

BTW...

I too just leased... Is tinting the windows a bad idea? Also, is there any way of getting lesser payments a year or two down the road?

I'll also be here looking for replies

bmathis

What is the original MSRP?

What state are you in, and what is the total amount due at delivery.

1stacura

I have my eye on a 2009 Camry SE.

The MSRP is $33,224 and I have a dealer offer of $27,695.

The included options are:

17" X 7.0" ALUMINUM WHEELS
5-PIECE CARPETED FLOOR & TRUNK MAT SET (PPO)
JBL AM/FM STEREO W/6-DISC IN-DASH CD CHANGER
CARGO NET (PPO)
XM SATELLITE RADIO (PPO)
REAR SPOILER
PWR TILT/SLIDE MOONROOF
VEHICLE STABILITY & TRACTION CONTROL
PKG #2 (dual heated pwr exterior mirrors heated pwr front leather seats)

I want a 36 month, 10k lease.

However, the way Toyota residualizes certain things and not others has me very confused.

Can anyone help me out here on what my payments would (or should) look like?

sam_k

Car_man,

Here I am again requesting leasing terms. Could you tell me the February lease terms for a 2009 Camry SE V6 for 36 and 39 months with 12K miles per year?

I know from reading your previous posts that Toyota doesn't residualize all the options in a lease and I learned that many years ago when my ex was considering leasing a 4Runner. The only thing they residualized was the base price, not the total price with factory installed options. You had to pay for 100% of the options in the lease which I think is ridiculous. Does anyone know if any of the options get residualized in the lease? In other words, when the Toyota Motor Credit is calculating the residual value, do they include any of the options? Thanks.

Sam

andy2812

Car_man

Can you please give me the 3 year, 15K miles Money factor and Residual for a 2009 Camry LE, 4 cyl.

Thank you
Andy

CarMan@Edmunds

Hi Sam. Toyota's lease program for the Camry varies by region. Let me know what state you are in and I will gladly provide you with the information that you are looking for.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi Andy. Toyota's lease program for the Camry varies by region. Let me know what state you are in and I will gladly provide you with the information that you are looking for.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

sam_k

Car_man, I'm in NY state. Just so you know I might also shop at some dealers in NJ in case that affects the numbers. Since the 2010 Camry is apparently out already, can you please provide the money factor and residual percentage for both 2009 and 2010 Camry SE V6 for a 36 and 39 month leases with 10K or 12K miles per year. Thanks.

CarMan@Edmunds

Hey Sam. New York and New Jersey are both in Toyota's New York region. The 2010 Camry is indeed available. The last time that I saw it, Toyota Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2009 Camry with 12,000 miles per year were .00295 and 62% for consumers who qualified for its top aka "Tier 1+" credit tier.

Keep in mind though that TFS' residual value percentages are based upon vehicles' base MSRPs. It places restrictions upon what options can be residualized. This makes it difficult for consumers to figure out what the exact dollar residual value should be for individual models.

Just in case you're still considering an '09 Camry, you should know that TFS' April New York region Tier 1+ buy rate for it is .00086.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

gmudude

@Car_man I'm considering a lease on a 2009 Camry Hybrid with Nav. I'm in Northern Virginia (DC Area). Could you please let me know the residual and money factor for a 3 year lease at 15k miles per year?

Thanks

CarMan@Edmunds

Hey gmudude. Didn't I just see you over in the Subaru discussions? I'm sure that you're considering a number of models for your next vehicle...and rightfully so. Toyota Financial Services' current residual value percentage for a 36 month lease of a 2009 Camry Hybrid with 15,000 miles per year is 58%.

Keep in mind though that TFS' residual values are for vehicles' base MSRPs. It places restrictions upon the options that can be residualized. This makes it difficult for consumers to calculate the actual dollar residual values for vehicles on their own. It's so tricky that TFS provides dealers with a list of the dollar resids for the actual units that they have in stock rather than relying on them to calculate them on their own.

I believe that Washington DC is in Toyota's Central Atlantic region. I have not seen its money factors for that particular area yet, but I should be able to find it our for you by making a few calls. Post a reminder in here for me in a few days and I'll let you know what I have been able to find out. For now, you can assume that this car's factor is somewhere between .00084 and .00125 or so.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

fractious

Can someone tell me what the numbers would be for an '09 Camry SE? The car would have the optional Navigation w/JBL Audio with Options, and the XM Radio Kit. Toyota MSRP $32,389. I live in NJ, have top tier credit (previously leased through TFS).

I'm interested in knowing the residuals, money factor, also a guesstimate on how this could should cost per month w / $3000 down on a 36 or 39 month lease (whatever is better on a cost-basis), 15k miles per year.

Thanks!!!

sounds_good

Hi guys,

My grandfather in Palm Beach County, South Florida, has asked for my help with a car lease. Problem is, I've never leased a car before so I'm not sure what to tell him (I've always purchased my cars and so has he).

He's interested in an '09 Camry LE with auto-trans. Originally he wanted to buy, and the best purchase price we got was $18,800. But due to my grandfather's age (almost 90) he thought it might be wise to lease instead of buy.

1. Is he right?

2. What should he expect to pay for a lease, based on the above purchase price?

3. Any questions we should be asking the dealer, or 'gotchas' to look out for?

Any other help or thoughts on this would be greatly appreciated.

Thanks very much!

hybrid305

Can anyone tell me what the residual and money factor is from Toyota currently for the 2009 Camry Hybrid? I live in Miami, FL.

I am looking for a 36 month lease w/ $2000 down and 15K miles per year.

Thanks in advance for any assistance

CarMan@Edmunds

Hi fractious. If you haven't leased yet you're in luck. Toyota introduced one of the most aggressive lease programs that I have ever seen it offer for the month of May. It is essentially offering 0% financing on leases of most models. It had to do something drastic. Sales aren't holding up nearly as well as Toyota had forecast and it literally has vehicles piling up at the port to the point that it is running out of room.

Toyota Financial Services' May New York region buy rate lease money factor and residual value for a 36 month lease of a 2009 Camry SE with 15,000 miles per year are .00001 and 56%, respectively.

The money factor and selling price of the car that you want are the important numbers to focus on here. The residual value percentage that I mentioned is practically worthless for consumers because TFS places restrictions upon what options can be residualized. It is so difficult to figure out the actual dollar residual values of vehicles that TFS provides dealers with lists of the actual dollar residual values for the specific units that they have in stock rather than relying upon them to calculate them on their own using the percentages like most other banks do.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi sounds_good. It's nice of you to help your grandfather out. Since you are both new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

Check them out and let us know if you have any other questions.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi hybrid305. Unfortunately, you are in Toyota's Southeast region. As you may already be aware, Toyota does not sell vehicles directly to dealers in your area. Instead, all vehicles must go through a distributor, SE Toyota. SE Toyota requires dealers to use its own finance company instead of Toyota Financial Services. I am sorry to say that I have not seen SE Toyota Finance's current lease program. Sorry that I could not be of more help.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

valuehunter07

Hey Sam. New York and New Jersey are both in Toyota's New York region. The 2010 Camry is indeed available. The last time that I saw it, Toyota Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2009 Camry with 12,000 miles per year were .00295 and 62% for consumers who qualified for its top aka "Tier 1+" credit tier.

Just in case you're still considering an '09 Camry, you should know that TFS' April New York region Tier 1+ buy rate for it is .00086.
========================================================

I don't get this.

First of all, .00295 comes to 7.08%. Isn't that a pretty high rate?!?!?!

Also wanted to ask what the differing circumstance is, between getting the .00295, versus the MUCH better .00086?

thanks very much!

valuehunter07

Car_man, this is great news!!!!!!!!!!!!!!!!!

I'm assuming this applies to the west coast (California) as well right?

I'm assuming this is what the "Perfect Timing" commercials are all about?

Is this also going to make for better deals on purchasing as well?

Any details anyone could provide would be GREATLY appreciated.

bostonben

Hi Car_Man

Are the lease figures for a 2009 Camry in Massachusetts the same as New York? Thanks!

jamesbbeam

Hi Carman, I'm turning in my ford lease tommorow and I'm looking for a little info on the new Toyota Lease Incentives. Your post above indicates that there are sood decent deals to be had this month. I'm primarily looking at the Camry.

Looking for MF and Residual % for 2009 4cyl SE Camry. Looking for 36 or 39 months.

Also, if you have an update on the incentives for the CRV or 4runner that would be much appreciated. Just looking for the standard package, 36 or 39 months.

I'm in Portland, OR. As always, thanks for your help. Jeff.

bostonben

Just wanted to follow up:

In Massachusetts, I'm getting a MF of 0.0005 (~1.2% APR!) and residual of 12,557 on a Camry LE. Best selling price I have received is 18.8K but I think I can get that closer to $18K.

CarMan@Edmunds

Hi valuehunter07. Toyota significantly enhanced its lease program on the Camry for the month of May. Toyota Financial Services. Tier 1+ buy rate lease money factor for the New York region during May (its May program is scheduled to run through June 1st) is practically 0%....00001.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hey valuehunter07. Unfortunately, no the money factor of nearly zero that I just mentioned is not available in Toyota's Los Angeles region. It's only available in NY. the last time that I checked, Toyota's May buy rate lease money factor for LA is .00068 for Tier 1+ customers.

I did hear that Toyota increased its consumer cash on the 2009 Camry in your area to $2,000 recently though.

Toyota's May program, which I was talking about, is scheduled to run through June 1st. Please feel free to check back with me in a few days and I will be happy to fill you on in what I have been able to find out about the new June program.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi bostonben. Unfortunately, no Toyota's Boston region money factors are not the same as its New York region factors. The buy rate that you were quoted for the May program .00050, is correct.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds

Hi Jeff. Excellent user id, though I'm more of a Jack Daniels guy myself. Toyota's May lease program is scheduled to expire today. I have not seen its new June program yet, but I suspect that I will be able to take a look at it at some point over the next couple of days. If you're still interested, please feel free to check back with me then and I will be happy to give you an idea of what the new program is like.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

fresh463

spent one and half hours at a local toyota dealer today. i was offered $270/month(all fees, nj tax included, 3 years, 12k) with zero down for a base model 2010 camry. haven't signed yet. is this a good offer?

gpb59

Car man, can you tell me the MF and Residual on a 2009 Camry XLE for 36 months with 12k miles/yr.

Thanks

avalon2000

Looking to lease either a 2009 or 2010 Hybrid with:

no $ down
36 mo./ 15K@yr. miles
color: optional
sunroof
leather
XM radio w/navigation
moon roof
splash guards
backup camera
carpet floor mats
conf. & conv. pkg
auto day/nite mirror

re a 2009, I calculate $32,198 retail
I calculate base cap $27,000 [in this area]
residual 56%
money factor .0011 [according to a NJ Toyota dealer, says .00001 was in May only and not for Hybrids, the .0011 now is for 2010 also, all Camry models]

If bought in NYS, wherein the tax is paid upfront but can be added in and financed, here's my lease calculator tally for a 2009:

MSRP 32,189
Base Cap Cost 27,000
Costs added to Lease 901 [sales tax @ 8.375%]
Adjusted Cap Cost 27,901
Residual Value 18,206 [56%, includs all the options]
Money Factor .0011
Term 36 mo.
Sales Tax 8.375% [see above]
MONTHLY PAYMENT 324.83

I figure a 2010 would be, say, $1,000(?) more

I realize that Toyota has their own method of calculating the 56% residual, not including some options, but don't know which ones.

Can you refine/correct for me, for 2009 & 2010?