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Toyota Camry Lease Questions

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    wvgasguywvgasguy Member Posts: 1,405
    It was; but it hasn't happened often.
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    vb1pavb1pa Member Posts: 50
    ok, just came back from toyota dealer got the following info:

    going money factore: Tier 1+ = 730 and above .00100, tier 1 = 690+ .00110 (anything less than that you should buy lol)

    The residual on the car i was looking at XLE v6 is 55%

    They gave me the following deal :
    selling price 29500
    res 17282
    rate .00110 (play safe)
    36 month
    12K
    10% tax
    550 fee
    156 tags

    1135.93 (550+156+1st month) at signing with 429.93 x 35 month (tax included)
    This is with a profit of 1500 to dealer

    I did some math base on $115 profit for dealer and came up with: 1082.94 at signing 382.94 x 35 a month (tax included)

    Offered it to 1 dealer let see what happens

    Hope this helped some one...this is in Philadelphia PA

    If anyone knows of any other #s please let me konw.

    VB
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    robertkalealrobertkaleal Member Posts: 4
    Just came from a dealership where we were told we would be looking at about $350+ for the Camry we were interested in. Looking at:

    2007 Camry LE 5spd Auto with floor mats.
    MSRP 21794

    Live in Cuyahoga County OH (tax rate 7.5%).

    What is the current MF on this vehicle? Looking for a 3 yr, 36,000mi lease with nothing down. Have at least tier 1 credit. What are the residuals? What type of payment should we be expecting?

    Thanks
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    tbernsohntbernsohn Member Posts: 3
    Is the .001 a regional rate? I'm near Chicago, and the Camry money factor for June is .00133.
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    vb1pavb1pa Member Posts: 50
    I dont think so. I belive .00133 is for credit score under 690.
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    jojometaljojometal Member Posts: 2
    I'm in the same boat as robertkaleal. I have my eye on an '07 Camry LE - 5 spd auto.

    What is the current money factor and residual for a 36 month 15k mile/yr. Camry LE - automatic - in Louisiana?

    Our local dealer sent me the following ad price:

    MSRP - $21,334.00
    Cap Cost - $19,670.51
    Residual - $12,300.00
    Money Factor - 0.001700
    Money Down - $259 (first mo. payment) + TTL
    Term - 36 mos.
    12k miles/yr.

    $259/mo (before tax)

    I'm trying to get a bump up to 15k miles/yr. with the JBL Audio package... but have yet to pry a quote from the dealership by e-mail.
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    xcalaragaxcalaraga Member Posts: 2
    Hello guys. I just purchased a lease agreement at Toyota of Orlando, FL.

    I wasn't prepared to lease a car and didn't do any research before hand. I went to the dealer to buy and got talked into leasing because of the negative equity in my trade-in. Now I feel like I got a bad deal, you be the judge.

    Camry LE Sticker Price was 23,000 but I had them down to 20,500 when I was negotiating a purchase.

    I had $6,000 of negative equity in my trade-in.
    I put a $2,000 down payment (that covered for taxes, first payment and a $1100 Capitalization Cost Reduction.

    I will be paying $424 a month for 48 months and 12,000 Miles per year. That includes 399 extended service plan that covers oil changes and such.

    They said my credit was around the $680’s; I don’t know my credit so I can’t confirm.

    I feel like I got a bad deal because I now began researching and I could’ve leased the car for $239 a month with nothing due at signing here in Florida. So how come I’m paying $424????

    More details:

    Camry LE 4 Cylinder with floor/trunk mats, splash guards, alloy wheels and the thing they put on the doors to protect them when you open the car in a parking lot and hit the car next to you(the line).

    This is what the lease agreement says:

    Gross capitalized cost: $2,8670.65 (That’s after they put my negative equity trade. I assume). That also includes an extended service plan ($399). They also charged me a pre-delivery service fee and taxes and such.

    Capitalized cost reduction: $1,163.38 and adjusted capitalized cost: $27,437.55

    Residual Value: $14,531.84

    Depreciation and amortized amounts: $12,905.71

    Rent charge: $6,124.32 (I assume this was the interest)

    Monthly payment: $424.21.

    Thanks in advance!
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    wvgasguywvgasguy Member Posts: 1,405
    I had $6,000 of negative equity in my trade-in.

    Could be part of the reason for a 680 credit rating? Do you plan to keep this the full 4 years of the lease?
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    xcalaragaxcalaraga Member Posts: 2
    Well, the plan is to keep the car until the lease expires and then walk away with no dept and no car. Buying the car at lease end makes no sense because it's going to be too high of a price. The bank will stay with the negative equity on the current car, not me.

    The reason I had negative equity in my car is because I bought a piece of crap car for too much money 7 months ago. The car ended up being a wreck and I had to get rid of it before it would blow up. They gave me $3,000 for the trade in, but I still owed close to 9k on it.

    Let me know what you think.

    Thanks.
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    vb1pavb1pa Member Posts: 50
    Cont.....

    I put a deposit on a black XLE MSRP 31579 and here is the deal..

    1095 (550+150+1st month) at signing with 395.00 x 35 month (tax included)

    The car is not in..it is in route and should be here by next week...(hopefully :confuse: )

    ps. It also has a spoiler.. (hopefully payment stays the same)
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    tbernsohntbernsohn Member Posts: 3
    Carman - help!

    Just came back from the Bredemann Toyota dealership in Park Ridge, IL - he'll give me the LE with Vehicle stability control for about $21,600. The money factor is .00133, and he said if I put $3000 down at signing, it would cost me $299/month. That's about $70 more per month than I figure. Even with $550 acquisition fee and $495 gap insurance...I've run it on several different online calculators. The Edmunds one comes up with about $250. Dealer says he's using Leaselink and gets $299. How do you "argue" when he says this is the number his program spits out??? :cry:

    I was originally interested in an SE with leather and he told me they're not making any now, and it would be a 90 wait.

    Can you help me understand these two things?
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    wvgasguywvgasguy Member Posts: 1,405
    Well, I have not figured out all the details of your deal, but if you had $6000 in negative equity you will be paying that off in one form or another. The bank or leasing company never eats that. Perhaps that's why the payment is $400+ instead of $200. If so, that's not a bad way necessarily to get out of debt on a bad decision. You just need to not make the same mistake in the future. Unless you're writing this off for business I'd drive this one for getting out of debt and then save up a downpayment for a purchase and work on equity buildup and full ownership, especially if you're willing to keep a car 3+ years. Don't get negative again and don't overbuy.

    Good luck.
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    cpa3cpa3 Member Posts: 89
    How do you "argue" when he says this is the number his program spits out???

    You leave....and go somewhere else..Do all your negotiation over the phone or through email...
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    jaa37jaa37jaa37jaa37 Member Posts: 30
    Looking to lease a TCH for 24 months, 12,000/year. Any idea what the money factor (great credit score) and residual would be? If necessary, given Toyota's weird residual calculations, could you break it out so I can understand what the actual residual value is? I'd like a fully loaded Camry but NOT the 50th anniversary: NAV, moonroof, leather. MSRP: $30,994.
    Thanks a lot!
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    secondleasesecondlease Member Posts: 8
    Hi, all
    I have leased a camry le v6 2007 (basic options only)today.The details are:
    price: $22,780
    term: 36 months
    rate: .00133
    residual: $13,889
    miles/year: 12,000
    ACQ fee: $550
    tax rate: 8.375(new york)
    govt fees: 32.50
    taxes: $957.82
    doc fee: $45
    gap prem: $195
    total initial payment $2,076.06(including first payment)
    month payment: $295.74
    I test drive it last week and feel good and I like the mp3 function especially) and so got the deal today.
    Any comment would be appreciated.
    Thanks.
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    alectricalectric Member Posts: 1
    I'l like to know what the residual and money factor is on a 2007 XLE Aloe green with leather seat warmer, other features standard, in zip code 28210, 48 month lease, $2000 due at signing. The dealer is offering the lease at $375 per month. Is that reasonable? Price on the lot with all the dealer charges is $29,766.
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    stlpike07stlpike07 Member Posts: 229
    It sounds reasonable. I'm in Missouri so I'm not sure how our taxes compare. I've had my '07 I4 LE Automatic for about 7 months now and have a higher monthly payment. I have a 36 month/45,000 mile lease with an extended waranty plan. I also have the moonroof and JBL package.

    $300 amonth for the V6 isn't bad in my opinion for a very nice new car. Hopefully someone else who knows alittle more about leasing will answer your question.
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    rl53rl53 Member Posts: 6
    MSRP 26009 (LE v6 with JBL and stability control)
    Price 23209
    Residual 13918
    36 month, 15k/year
    MF .0092
    Acq Fee, 550
    MD tax 5% + 220tag fee
    dealer processing 99

    Nothing down, all rolled into the lease. Monthly lease payement $350. Just pay the first month lease and drive off.

    I have never leased before but it seems the MF is very good, about 2.4% APR. I thought the residual value is a bit low, aobut 54% of MSRP after 3yr and 45k or is that pretty standard. I am assuming the leasing company(toyota finance)set the residual value. How do you expert think about this deal? I can pay the car with cash but with 2.4% APR, why not put the cash in the bank and earn 5%. Would you do the same? Did I miss something? thanks.

    Rich
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    atsu888atsu888 Member Posts: 4
    Hi there,
    Anyone that can help me out with my lease situation. I am trying to get a realistic idea on payment for a SE V6 lease.

    I am looking at a MSRP $30,469 camry with a selling price of $26,000 in the Los Angeles area.
    12,000 miles per year, $0 down. Great credit.

    What would my residual and money factor be?

    Monthly payment?

    I hope this is enough information for you.

    Thank you in advance
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    beerjoybeerjoy Member Posts: 2
    After hours (and I mean hours) of back and forth at a dealership in Dallas/Ft Worth, I drove home in a Camry SE 4cyl w/ Sunroof (MSRP $24,060.00) I didn't think that I really cared what the "price" was, just focused on the payment.

    I had negative value of $1,500.00 that I buried in the new lease and did the prepay maint/GAP. 36 month term 12k/year

    Left the lot giving then $435.00 for 1st month (and the keys to my up-side-down trade).

    People of knowledge... How did I do?
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    lmacmillmacmil Member Posts: 1,758
    I think people who focus on the payment always do worse than those who focus on the price. Why do you think salesmen always want to focus on the payment instead of price? Because it's a better deal for them. That said, if you're happy with the deal, it doesn't matter what anyone else thinks. Just enjoy your new car.
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    howard2dot0howard2dot0 Member Posts: 45
    Does anyone know any specifics on the Toyota TV commercial featuring a 36/12000 lease on Camry LE for $259/month with $259 at signing? It's been running in Houston area for a while.
    Thank you.
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    howard2dot0howard2dot0 Member Posts: 45
    I just visited a local Toyota dealer and got some more detail on that TV commercial:

    Camry model 2532
    MSRP $21,334
    Actual Capitalized Cost $19,500.51
    36 months, 12,000 Miles/year
    Standard MF: 0.002950
    Subvented MF: 0.001700
    Ave. Residual $12,095.00
    $259/month with $1,259.00 at signing
    Customer Incentive $1,000
    Total due at signing $259

    Is this a good deal?
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    teach207teach207 Member Posts: 1
    I'm looking at lease a 2007 Camry XLE V6. The price I got quoted was 1,500 down..$398 a month for 36 months (all taxes included) 15,000 miles a year. This was off an invoice of 27,000 This model has everything just like our Infiniti G35X from smart key to bluetooth. Do you think that this is a good deal? Thanks!
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    pjo1966pjo1966 Member Posts: 157
    Could someone please provide me with the money factor and residual for a TCH? I live in Los Angeles and have a credit score above 700.

    Thanks.
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    sjl2sjl2 Member Posts: 10
    Car man or kyfdx - could you provide money factor and residual for 2007 Camry 4cyl 36 mo/ 10,000 miles? Thanks.
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    pjo1966pjo1966 Member Posts: 157
    I just got a rough estimate from a dealer for a 2007 TCF lease. I don't have much in the way of specifics, but the payment seems high:

    Options:
    Navigation
    Sunroof
    Leather
    Carpeted Matts
    Convenience Package
    Boldy colored molding

    MSRP: $31,163
    Price: $28,384

    The range I was given for lease payments would be $498-$515 per month. As I said, this seemed high to me given the discount off the MSRP. Are they making up money factors and residual percentages, or does this seem on the mark in LA?
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    azfan00azfan00 Member Posts: 8
    Based on an newspaper ad (San Diego) got a new 2007 XLE V6 w/ leather, navigation, heated seats and bluetooth (sticker $30,980) for $995 down, $299/month for 36 months/12k miles. With tax and Gap ($410), monthly payment is $335. I can't figure out how they came to this payment (I don't have the details in front of me). He said the money factor was 0.0001 and the net cap cost was $28k, residual around $16k. No other dealer in town would match or beat it.
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    slsextonslsexton Member Posts: 7
    can you tell me where the ad was for the deal in San Diego or post a link to this? I was looking in the DFW area today and was quoted a $550 mo price for a 2007 Camry XLE loaded!!!!!
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    azfan00azfan00 Member Posts: 8
    There were two left at Toyota Chula Vista (I got one). The ad ran in Friday and Saturday's Union-Tribune. I called another dealer and they said they had an XLE w/o Navigation and would lease it for $285/mo (same terms).
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    slsextonslsexton Member Posts: 7
    thanks, I found the ad and am oing to see if they will match it here!
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    azfan00azfan00 Member Posts: 8
    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.
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    stlpike07stlpike07 Member Posts: 229
    azfan00,

    What are the terms of the lease? How many months, mileage, money down, credit rating, etc.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    pjo1966pjo1966 Member Posts: 157
    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.
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    azfan00azfan00 Member Posts: 8
    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.
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    nomarbicicletanomarbicicleta Member Posts: 2
    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.
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    stlpike07stlpike07 Member Posts: 229
    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 combo.......my 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.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, azfan00. Congratulations on your new Camry. Don't forget to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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    nomarbicicletanomarbicicleta Member Posts: 2
    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)?
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    bella1291bella1291 Member Posts: 4
    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.
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    acura_tlacura_tl Member Posts: 38
    "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.
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    ekorchekorch Member Posts: 7
    Hi

    Very useful discussions here. Can anyone provide me with the current mf and residual value for camry CE in northern nj?
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    ekorchekorch Member Posts: 7
    Sorry forgot to add details. I'm looking for a 36month 12k lease. Any help would be greatly appreciated.
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