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Toyota Corolla Lease Questions



  • My loaded s was $19895. I had the extra value package three, moonroof, six disk, all weather package
  • afarsidafarsid Posts: 5
    how many miles? be more specific
    what state?
  • Hi-
    Hopefully you can help me out. I'm looking for lease deals on a corolla in the Scranton PA area. I'm in zipcode 18512. Can you assist me in finding a good deal? Here's one I've seen-

    Corolla Sedan (not S)
    $2000 down plus tax, tags, etc.

    I wonder what the money factor could be on this. I haven't been in the dealership yet. I'd like to get the down payment down to zero.

    Thanks for your help!
  • kenleslie76kenleslie76 Posts: 22
    edited June 2010
    Hello All,
    I need your help. I want to lease the Corolla S Model Auto. The dealer offer me with $1,400 down and $185 a month for 36 months. The resid value will be $11.3K after. The MSRP is $18,805 not including the anti-theft alarm by the dealer valued at $499. I'm from So Cal and the dealer is in So Cal also. Is this a good deal or I can find something better than this?
  • nujoenujoe Posts: 1
    I have been shopping for a Corolla LE in Arkansas with several options that has an MSRP of $19,000.00
    I have been quoted a lease deal based upon a sales price of $17,200.00 including a $1000.00 college grad rebate
    Money factor is .00002

    3 yr; 36K
    1800 cap cost
    $173/month = Arkansas tax = $199
    This deal seems to be a bit costly for this vehicle.
    Any feedback would be greatly appreciated.Thanks
  • Please help...Fuccillo Toyota in Grand Island NY is trying to renege on the free maintenance portion of our lease agreement. My wife leased a Toyota Corolla in April of this year because Toyota was offering the nationwide free maintenance incentive. Now, in August, we are being told that they're not sure if we "qualify" for the free maintenance. Wasn't the free maintenance incentive offered to EVERYONE in April???

    Carman and others please help!!!
  • Hey car_man & kyfdx,

    I went to a Toyota Dealership in Queens, NY yesterday and walked out with these numbers, I want to run it by you guys to see what you think of the deal:

    2010 Corolla LE
    MSRP: $18000
    Agreed Price: $16900, which he says is dealer invoice for this car. I checked on Edmonds and it's pretty spot on.
    Residual: $10210
    Bank Fee: $650
    Money Factor: .00001 (ridiculous!)
    Term: 3 yrs, 36000miles

    My questions:

    1. So, the dealer is saying that the total will be $228 a month. I did the math using the formulas and I came close to what he showed me. I got $222.03, a difference of 6 bucks. Should my number be spot on or is a difference of 6 okay?
    2. Also, is it common that Toyota doesn't include Gap Coverage? The dealer said it can be purchased for $7 a month. Can I negotiate this to be included free of charge?
    3. He gave me the residual value but I'm not sure of the residual percentage. How can I find the the residual percentage for this car?
    4. I'm trying to bring the total monthly payment to $200-$215.If they won't budge on price then I'd like to try to get a moonroof included in the car for no additional charge. Do you think this is possible?

    Please give me advice on some negotiating options I may have to bring the price down. Thanks you!
  • moe35moe35 Posts: 8

    I am considering a lease of a basic Corolla LE. What is the current MF and Residual for a 36 month, 12k lease in my region (Wisconsin)?

  • bee213bee213 Posts: 2
    Here are the details of the lease I signed on January 20, 2011 in Massachusetts:

    Dealer paid off my trade ($29,000 owed)

    2010 Corolla LE Automatic
    $214/mo. for 36 months
    12k miles/year

    $627 out of pocket (included my first month payment of $214)
  • jjadamojjadamo Posts: 1
    I have a 2009 Toyota Corolla with one more year left on the lease. Once I have built equity into the car (I am guessing in about 5-6 months, once I make a few more payments, my balance I owe on the lease will be less than my trade in). A car dealer has told me an option for me to get into a new car would be for them to just buy out the lease. Would I be charged early termination fees for doing this? What other fees could I expect? Is this an option? I would be using the equity towards the lease of another car. (Not a toyota)
  • frsafrsa Posts: 4
    For San Francisco, CA
    2011 Toyota Matrix Lease Questions, what is the APR and MF for 20112011 Toyota Matrix Base Model ? Thanks
  • kromixkromix Posts: 17
    edited November 2012
    Car Man,

    What is the Money Factor and Residual for a Corolla L model basic in South Florida for November??

    Corolla Base L Model with Automatic

    Price: $17,576.37
    Term: 39 Months
    Rate: .00191
    Residual .66 - $11814.00

    $800 Cash Due at Signing Includes 1st month payment

    Miami, Florida

  • joey135joey135 Posts: 2
    Can you post the June 2013 money factor and residuals for 2013 Toyota Corolla L? Thanks a lot and I really appreciate your help.
  • sam365sam365 Posts: 3
    Any idea of how a person can buy an off-lease vehicle for the residual value. The current 2010-2012 off-lease Corollas are priced on the dealer lots at much higher prices than the original stated residual value in the lease agreement. Has anybody had experience selling a vehicle coming off lease directly to a private party for the residual value (and perhaps some extra cash to pocket)?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi joey135. toyota's lease program varies depending upon which one of its twelve regions you are in. In most areas, Toyota Financial Services' buy rate lease money factor is a low .00001 for Tier 1+ customers.

    TFS' residual values are misleading because they are only for base vehicles. It places restrictions and caps upon which options can be residualized, making it difficult for individual consumers to figure out what the dollar residual value should be for the vehicle that they want or to work up lease payments on their own. This is different than just about every other bank does it. So the 36-month, 15,000 mile per year residual value for a 2013 Corolla L is 58% for a base model. The effective residual value is something less than that.

    Prices Paid: Buying & Leasing Experiences Forum
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