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MF & RV for Toyota Corolla LE 2020

partyhatpartyhat Posts: 24
edited April 17 in Toyota
Hi My lease ends this Tuesday. I’m thinking about going in this weekend to renew my lease. Anything I should be aware about in regards to any specials because of COVID19?

But I will also need the Money factor, residual value + any rebates for a Toyota Corolla LE 2020 in New Jersey, 07042

Thank you!
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  • MichaellMichaell ColoradoPosts: 165,702
    partyhat said:

    Hi My lease ends this Tuesday. I’m thinking about going in this weekend to renew my lease. Anything I should be aware about in regards to any specials because of COVID19?

    But I will also need the Money factor, residual value + any rebates for a Toyota Corolla LE 2020 in New Jersey, 07042

    Thank you!

    36/15
    .00125 and 56%
    $600 lease cash

    You'll have to work with your dealer on pricing.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • partyhatpartyhat Posts: 24
    @Michaell 35/15?
  • MichaellMichaell ColoradoPosts: 165,702
    partyhat said:

    @Michaell 35/15?

    36 months, 15,000 miles per year.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • partyhatpartyhat Posts: 24
    @Michaell what about 36 months, 12k miles per year
  • kyfdxkyfdx Posts: 171,447
    partyhat said:

    @Michaell what about 36 months, 12k miles per year

    58% residual

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • partyhatpartyhat Posts: 24
    edited April 18
    @kyfdx @Michaell

    Hi so I just got back from Toyota dealership and they actually gave me the cars retail price/sales price. I didn't make a purchase yet. I just wanted to evaluate and sleep on the deal before signing anything.

    Retail price: $21,522
    Dealer price: $20,265

    I added the $500 graduation rebate on top of the cap cost decreasing the overall price to $19,765. I told I got a different number using MF .00125. the dealership actually gave a me RV of 61% not 57%.

    Therefore the dealer gave me $230/monthly with tax NOT levied into the monthly and paid upfront which i plan to do.
    OR
    $245/month WITH the tax levied into the monthly payments

    the dealership managed to waive the Doc fees of $595 putting the amount id put down: $2,885. This includes all the fees i cant avoid such as (destination fee, license & registration, acquisition, etc), the first month payment, and the $546 total tax
    [TAX IS ($230*6.6%) = 15.18/month * 36 months $546 total]


    READ::
    Before signing the papers, he said this was a deal for 10k miles. but from the beginning i strictly told him 12k!
    I said if he can increase the miles to 12k without changing the price but he said that would cost an extra $10/month.

    Can you please evaluate my deal and whether if this is a good deal or not. and what else i can do???

    Thank you so much...

    - Jed
  • MichaellMichaell ColoradoPosts: 165,702
    partyhat said:

    @kyfdx @Michaell

    Hi so I just got back from Toyota dealership and they actually gave me the cars retail price/sales price. I didn't make a purchase yet. I just wanted to evaluate and sleep on the deal before signing anything.

    Retail price: $21,522
    Dealer price: $20,265

    I added the $500 graduation rebate on top of the cap cost decreasing the overall price to $19,765. I told I got a different number using MF .00125. the dealership actually gave a me RV of 61% not 57%.

    Therefore the dealer gave me $230/monthly with tax NOT levied into the monthly and paid upfront which i plan to do.
    OR
    $245/month WITH the tax levied into the monthly payments

    the dealership managed to waive the Doc fees of $595 putting the amount id put down: $2,885. This includes all the fees i cant avoid such as (destination fee, license & registration, acquisition, etc), the first month payment, and the $546 total tax
    [TAX IS ($230*6.6%) = 15.18/month * 36 months $546 total]


    READ::
    Before signing the papers, he said this was a deal for 10k miles. but from the beginning i strictly told him 12k!
    I said if he can increase the miles to 12k without changing the price but he said that would cost an extra $10/month.

    Can you please evaluate my deal and whether if this is a good deal or not. and what else i can do???

    Thank you so much...

    - Jed

    It seems like they are using a different bank for this lease - US Bank is a popular alternative.

    However, we don't have those programs available to us to know if the MF is marked up from the base, or not.

    In NJ, we recommend you only pay the first payment and the registration costs up front; add the fees and taxes into the selling price and make them part of the monthly payment.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • partyhatpartyhat Posts: 24
    @Michaell why is that recommended? otherwise the monthly would be like $300 for a basic toyota corolla LE
  • MichaellMichaell ColoradoPosts: 165,702
    partyhat said:

    @Michaell why is that recommended? otherwise the monthly would be like $300 for a basic toyota corolla LE

    Any money paid up front beyond what we've suggested would be lost if the car was to be stolen or totaled during the lease.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Posts: 171,447
    partyhat said:

    @Michaell why is that recommended? otherwise the monthly would be like $300 for a basic toyota corolla LE

    Prepaying part of the costs doesn't make the lease any cheaper. If your total cost is $300/mo, then maybe it isn't a very good deal, or the lease programs isn't advantageous.

    I can make any lease under $200/mo, if I put enough upfront. That doesn't make it a $200/mo vehicle.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • partyhatpartyhat Posts: 24
    @Michaell @kyfdx

    will the MF, RV change for 07042 toyota corlla le 12k miles 36 months change this coming monday? my lease ends Wednesday
  • kyfdxkyfdx Posts: 171,447
    partyhat said:

    @Michaell @kyfdx

    will the MF, RV change for 07042 toyota corlla le 12k miles 36 months change this coming monday? my lease ends Wednesday

    Toyota programs run through the end of the month

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • partyhatpartyhat Posts: 24
    @kyfdx @Michaell

    Guys thank you so much for your help.

    I just got a deal for a toyota corolla LE, Celestite (blue/gray) colorway 12k miles, 36months for $1500 sign and drive, $200/month which includes GAP insurance.

    I have an appointment with the GM tomorrow at 1pm. I will update you.
  • kyfdxkyfdx Posts: 171,447
    partyhat said:

    @kyfdx @Michaell

    Guys thank you so much for your help.

    I just got a deal for a toyota corolla LE, Celestite (blue/gray) colorway 12k miles, 36months for $1500 sign and drive, $200/month which includes GAP insurance.

    I have an appointment with the GM tomorrow at 1pm. I will update you.

    Let us know how it goes.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • 96eclipse96eclipse New JerseyPosts: 7
    Any numbers and incentives for
    36/10 - 36/12
    07095
    Thanks
  • kyfdxkyfdx Posts: 171,447
    96eclipse said:

    Any numbers and incentives for
    36/10 - 36/12
    07095
    Thanks

    36/12
    .00016 MF and 55% residual
    $600 lease cash

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

This discussion has been closed.