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2013 and earlier Toyota RAV4 Lease Questions



  • bohdybohdy Posts: 15

    I talked to a sales manager named Mike at Boulder. They have a V-6 Base RAV4 at an MSRP of $27,377 which he will sell for $25, 260. I had to dicker with him, however, to get him from $500 over invoice to $500 under invoice. The interest rate on a RAV4 lease this month is 3.864%, a little better than last month. Monthly payment with tax is $355.78 with everything included except your first month payment and registration fees. He didn't have time to give me a quote on a V-6 Sport, but I'm willing to bet he'll come real close to the same payment on a Sport which has a slightly higher MSRP but residualizes better. Call or see him personally, tell him he talked to a relative of yours about this in MA (wink, wink). As far as the Subaru my opinion it's a nice vehicle but I'm not an expert on Subaru. All cars nowadays have lighter, cheaper-feeling parts to increase gas mileage. All I can say is that I've owned Toyotas since 1994 and found them bullet-proof. Again, the decision is yours. Keep us advised.
  • kyfdxkyfdx Posts: 70,273
    I couldn't recommend one over the other.... I think the new Forester looks a little more like an SUV, instead of the cute/ute look of the RAV4 or the CR-V.. Either one will be a screamer with the optional, higher horsepower engine.. The Forester has a little more sophisticated AWD system, though that might not matter to most people, in normal driving...

    If you drive both, then pick the one you like the best, I don't think you could go wrong..


    Prices Paid, Lease Questions, SUVs

  • Hi Bohdy,

    I was told that they can't find any V6 Sport models! they did lower the price on the 6cyl base model to $348 which includes tax and 15k miles which seems pretty good. I did get a quote for the Forester for $342 and 15k miles so now I'll just have to flip a coin!
    I'll let you know what I decide to do.
  • I've driven both- they both drove well but hesitated on the Rav4 mostly bc of the interior which feels cheap and wasn't so sure about the rear tire on the back and the rear door. I will be driving in the snow though as far as awd systems go. does that make a difference?
  • kyfdxkyfdx Posts: 70,273
    Probably won't make a difference... .all of the AWD systems are fine for on-road traction.. The CR-V has the least sophisticated of all of them, and I was never stuck in 10 years...


    Prices Paid, Lease Questions, SUVs

  • Hi Bodhy,

    I got the car finally. I paid $347/month including tax with 15k miles. I have a question bc the lease didn't come with Gap Insurance and the finance guy strongly recommended it. Do I need to get it on top of my regular Geico insurance?
  • bohdybohdy Posts: 15
    Congratulations on your purchase! Gap insurance covers the difference between what an insurance company may give you vs. what your current buy-out would be if you had a major accident which totalled the car. In my opinion it's probably a smart choice to get it, but I personally never have. It's the risk you take. It's probably too late now because that's usually written into your lease contract. You'd have to check with the dealership if you're having second thoughts about getting it. Anyway, it sounds like you got a pretty good deal at 15k per year. Good Luck.
  • You should get the gap insurance - it guarantees that you won't have to go into your pocket should you total the car during the lease. GM and Ford include it routinely; Toyota chintzely demanded an extra $6.00/mo for it from me. Did you put up any upfront $$?
  • Hi, no I didn't put up any upfront money- just paid the first month of $347. The dealer said I could have til Monday (today) to get the gap insurance. It would cost an extra $400 + interest even if I pay it upfront. I was so happy to have gotten my lease payments to be below $350- now the payments aren't as low as I had assumed and I feel a little misled by them not telling me about the gap insurance. Obviously $400 is worth the aggravation if something happens to the car so I guess I should just get over it and pay it. I was hoping I could get it through Geico but they don't offer it. Any suggestions on wherelse to buy it or just get it through Toyota and be done with it?
  • I'm paying $6/mo X 36 months = $216 total from Toyota; that $400+ seems way high & the dealer should help you out on this. Good luck trying!
  • Unfortunately I have no leverage now because I took possession of the car. I've shopped around online and can't find anything better than the $400 offered by Toyota.
  • I leased a RAV4 today - Base V6 - 12,000 miles. My base monthly payment was $335 with $1300 down and 3% interest rate (which they said was their Tier 1 rate) for 36 months. I was surprised to get 3% b/c my credit score had dropped in the past few months due to high credit limits on my credit cards. Residual is just under $16,000 and I am considering purchasing the truck at that time. Do you think I got a decent deal here?
  • Elizabeth, I'd pay the $400 and just move on; but I'd never spend another dime at that dealer again, though. Enjoy your trucklet!
  • bohdybohdy Posts: 15
    Joyce...Did you lease an '08 or '09? If it's an '08, don't feel bad, but you should have been able to do much better. Look at the previous posts. The $1300 down, assuming part of it was your first month payment, is equivalent to another $30 per month. So, in actuality you are paying $365 per month. NEVER put money down now when you can spread it out over 36 months. You should have been able to lease that vehicle at around that payment without the $1300 down anyway (my opinion).
  • Thank you in advance.
    I'm looking to Lease a 2008 Rav4 Sport 4X4 (black) sunroof, 6cd changer, in Staten Island NY. After negotiating with a local dealership these are my final numbers. Can anyone tell me if this is reasonable? $322.00 monthly payments for 36 Months. $1878.00 down payment. $135.00 m.v. fees. Totaling $2335.50 out of pocket to drive out of dealership. Does this sound reasonable?
  • bohdybohdy Posts: 15
    Definitely not a reasonable deal! Reason: Toyota is not offering any incentives on the RAV4 in the greater NY and Connecticut areas. Come up to MA and you'll get a great deal. I believe residency restrictions apply, though. For a little more money you could be in a V-6 4Runner SR5. I believe the dealership you're working with could do better, but nothing I'd jump at. Price the 4Runner or wait until the dealerships have a full inventory of '09 RAV4s. By the way, DON'T PUT MONEY DOWN, HAVE THEM PUT IT INTO YOUR MONTHLY PAYMENT!!! Spread it out over 36 months. If you'd like, send me an email and include your email address. John
  • Hi pauliedell. You never mentioned the selling price or MSRP of the RAV that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or other community members would be happy to give you their opinion of this deal if you let us know what these numbers are.

    The money factor that the dealer is using to calculate your vehicle's lease payment is another important number to know when leasing. Toyota Financial Services' current buy rate lease money factor for this model is .00116 in your area. Make sure that the dealer that you are working with is using this factor to calculate your monthly payment.

    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Car_man. I am purchasing a 2008 Base V6 RAV4 from a dealer in Farmingtonhills, Michigan. The MSRP (including options) is $26,668, and they gave me $1,047 discount plus $500 rebeat. I did not pickup the car yet (next Tuesday), and I am thinking to switch to lease for 36 month/12000mi/year first. What is a reasonable lease payment with no down payment? What is the Toyota Financial Services' current buy rate lease money factor for my area (Farmingtonhills Michigan 48331)? What is the Residual if I decide to buy it after the lease term? Thanks
  • I know the lease factor on a 2008 RAV4 is .00116. Does anybody know what it may be on a 2009? from Toyota Finance?
  • I just leased a 2008 base V6. Make sure you get the Gap Insurance included in the lease upfront- have them include it for free. They sprung it on me in the finance guy's office when I was signing the lease. It was the first I heard of it and that Toyota was the only company that didn't include it.
  • Hi chenchun. I believe that you are in Toyota's Cincinnati region. In that part of the country, Toyota Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a base 2008 RAV4 4WD with 12,000 miles per year are .00116 and 69%, respectively for consumers who qualify for its Tier 1+ credit tier. The problem is that TFS places restrictions upon what options can be residualized, making it almost impossible for consumers to calculate vehicles' actual dollar residual values. It is so complicated that Toyota provides dealers with a list of the actual dollar residual values for the units that they have in inventory rather than having them calculate them on their own.

    Prices Paid: Buying & Leasing Experiences Forum
  • nova92nova92 Posts: 1
    Hi Car man. I am hoping you can provide feedback on the following 36 month lease deal I have been offered from dealership in Green Brook, NJ:

    Monthly Pmt: $329.88
    MSRP: $27,223
    Selling Price: $24,980
    Residual: $16,109
    Money Factor : .00202

    Due at Signing: $2,369.97
    (1st Pmt $329.88 + Tax $885.97 + $650 Bank Fee
    +317.50 Dealer Fee + 184.50 DMV Fee)

    Your time & response is much appreciated!
  • We are about to embark on a leasing deal. We currently have a Honda Pilot and pay $350/mth for it. I dont want to stray from that dollar amount. I'm looking at the Rav4 Base Model AWD V6 engine and adding a 6 CD option. What should I be paying? From what I've seen, I should probably be paying less than $350/month.

    Please advise.
  • Any more luck with your lease?
  • Hi there. Typically, I try to do my homework weeks ahead of time for purchasing a vehicle and have now found myself w/o wheels (unexpectedly sold the gas guzzling F350). I've decided to lease as I want to position myself to purchase a home and so went to a dealer today and have not signed anything as of yet. They are offering me a base model 2WD 4cyl. RAV4 for a price of $21,743 for 36-months and 12k miles at $340/mo. O money down. How am I looking? Any and all advice is appreciated. Thank you.
  • fotboatfotboat Posts: 18
    I got a better qoutes for a Base 4wd 4cyl with a 3rd row for 21,500,. This was for a 2008, not sure if you are talking 2008 or 2009. The lease was 900dwn(TTL) and 290/month, But that was for sept lease rates of .00116. I believe Oct lease rates are .002. If you are talking about a 2008, I would think that you should get them down to 20,000 for the vehicle, which should bring the monthly payment in the 290 range

    Good luck
  • Hi nova92. The money factor that you were quoted is right in line with Toyota Financial's buy rate for a 36 month lease of this vehicle in its New York region this month. That is a good thing.

    The selling price that you were quoted looks reasonable as well. It's tough to say for certain, but I suspect that it is around $500 over invoice...which is right around what I would shoot for if I was in the market for a similar vehicle right now.

    If you like the RAV, I personally don't see any reason not to pull the trigger on this deal.

    Prices Paid: Buying & Leasing Experiences Forum
  • Does anyone have numbers on the October money factor or residual for a 2009 RAV4 Limited 4WD, 4 cylinder
  • Hi aeropostel. Toyota's lease program usually varies depending upon which one of its twelve regions one is in, however I don't believe that Toyota is providing lease support on the 2009 RAV4 this month. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program, which is the same nationwide.

    You never mentioned how long you want to lease this vehicle for or what mileage allowance you need, 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. TFS' current buy rate lease money factor and residual value for a 36 month lease of a 2009 RAV4 Limited 4WD with 15,000 miles per year are .00275 and 62%, respectively.

    Unfortunately, it is very difficult to use TFS' residual value percentages to calculate vehicles' dollar residual values and in turn calculate accurate lease payments. It places restrictions upon what options can be residualized, making it difficult for anyone but dealers, who are given lists of the actual dollar residual values for the units that they have in inventory, to work up a payment on a Toyota vehicle.

    Prices Paid: Buying & Leasing Experiences Forum
  • This is a great discussion!

    I'm looking for an SUV right now and am torn between the RAV4 and the Honda CRV. What's a good lease price on the 2009 AWD RAV4? I'm getting a monthly quote of $349 on the base model and wondering if I can push the dealership to give me the same numbers, with zero down, on the Sports Edition.
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