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Toyota Camry Lease Questions

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  • ribbs2521ribbs2521 Member Posts: 1
    edited June 2010
    I guess from looking at previous posts I'm just supposed to use this same thread. So, how does this look? This is my first lease and my first brand new car.

    MSRP - 23050
    Price - 22150
    Cap Red - 500
    Trade - 500
    Term - 36
    Factor - 0.00002
    Residual - 14,144
    Down - 500
    Tax grp - 730.39
    Fee/Lessor - 217.50
    Payment - 239.74

    It's sign and drive so I'm only paying the 500 down and the first month's payment. There are no options, it's the base LE.

    EDIT: Yes, it's 720 for TFS tier one
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ejv207. Toyota isn't providing lease support on the 2010 Camry any longer. If you want to lease, you really should go with a 2011 model.

    Toyota Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a base '11 Camry with 12,000 miles per year were .00002 and 65%, respectively in your area for consumers who qualify for its top aka "Tier 1+" credit tier.

    I believe that Toyota decided to extend its June programs through July 6th, but I need to double check that to make certain.

    TFS' residual values are a little misleading. Unlike most other banks that allow the residualization (now that's a big word :) ) of all OEM options, TFS places restrictions on what options can be residualized and caps on the ones that it allows. This makes its effective residuals lower than its published percentages appear. It also makes it difficult for consumers to work up payments on specific models on their own.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bmwdriver. Dealer invoice is a very attractive selling price for a leased Camry Hybrid and the money factor that you were quoted is right in line with the program that I have seen for this car. If you like the vehicle, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited July 2010
    Congratulations shellco. I'd be happy to take a look at this deal for you. The easiest way for me to evaluate your lease would be to take a look at the MSRP and selling price that were used to arrive at your payment. These numbers enable us to see how large a dealer discount you were given. Let us know and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Having said that, $390 per month does sound a little steep for an '11 Camry.

    Car_man
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  • pniblopniblo Member Posts: 2
    edited July 2010
    What do you guys think of this deal?

    2011 Toyota Camry LE 4 cylinder automatic (model# 2532)
    3 Year Special Lease till Jul., 06, 2010
    Drive-off.....................$1,000

    Payment.....................$204.45+ tax ($222.34) @ 35 months

    Mileage.....................12,000 miles/year
    Residual....................$14,144
    Fico Score 720+ (O.A.C.)

    MSRP.........................$23,050
    Your Price..................$20,588
  • pniblopniblo Member Posts: 2
    And this is at Longo Toyota near Los Angeles
  • handcontrolhandcontrol Member Posts: 7
    Hi Car Man

    Can you please tell me the current MF and Residual for a 2011 XLE V6?

    Thanks!
  • handcontrolhandcontrol Member Posts: 7
    Can anyone on hear help me out? I'm looking to lease a 2011 LXE V6. I thought from reading on hear that the Money Factor was .00002, I am being told by the dealer for tier 1+ it's .00090. This is a big difference in price. Is this just a regional deal? If so can anyone tell me the states nearest Chicago where I could get this rate? What really stinks is in Illinois I also have to pay 7.5% sales tax on the total vehicle price, not just the lease amount. Any help is greatly appreciated!
  • thebordcuthebordcu Member Posts: 8
    Hi - Please let me know what you think of this lease offer. We are outside of Philly.

    2011 Camry LE with Bluetooth Handsfree, Body side molding and Carpet/Trunk Mat Set

    MSRP: 23,558
    Residual: 14,144

    36 months with 12K a year
    Total paid as signing: 526 (1st month payment plus License/Tags/Doc Fees) and received a check for $1300 to pay off final 4 months of current leased car

    Total monthly lease payment: (305.29 - includes Gap and the 9% PA sales tax).
  • wanttocamrywanttocamry Member Posts: 1
    Hey Car Man,

    What is the residual and MF for a 12k/year 36 month lease on a 2011 Camry LE for August?

    Are the rates different for other models such as SE,XLE with V6's. Thanks a bunch.
  • ddoolsddools Member Posts: 2
    Hi , Please any help will be very thankfull; I have a Toyota Camry and the lease is running out this month and I want to extend it month to month. So I called Toyota and they told me that i had to to give them the mileage first before they would decide to extend it for me, but they did not see any reason it could not be done. I told them i did not know what the mileage and I would have to call them back this week sometime with that info. I am not one to tell a fib but I got the feeling that everything was dependant on the mileage number wether they extended it or not. Got that feeling. Question is why does it matter if the mileage is over the original given miles or at the 36k given in the lease. The actual is higher that 36k.
    Thx
  • ddoolsddools Member Posts: 2
    Hi , Please any help will be very thankfull; I have a Toyota Camry and the lease is running out this month and I want to extend it month to month. So I called Toyota and they told me that i had to to give them the mileage first before they would decide to extend it for me, but they did not see any reason it could not be done. I told them i did not know what the mileage and I would have to call them back this week sometime with that info. I am not one to tell a fib but I got the feeling that everything was dependant on the mileage number wether they extended it or not. Got that feeling. Question is why does it matter if the mileage is over the original given miles or at the 36k given in the lease. The actual is higher that 36k.
    Thx
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey wanttocamry. Toyota's lease program for the 2011 Camry varies by region. You never mentioned what state you are in, so for now I will use its New York region as an example.

    Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 Camry LE with 12,000 miles per year in its New York region are .00001 and 64%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    At first glance one might say, wow a 64% residual value...that's incredible. Unfortunately, it's also misleading. TFS places restrictions upon what options can be residualized making its real world residuals essentially lower than its published resids for base models initially appear. This also makes it difficult for consumers to calculate sample payments on specific models on their own.

    Car_man
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  • antoniusantonius Member Posts: 39
    Carman, can you give me the current buy rate and any other region specific info on the 2011 camry leases for Nevada? Thanks.
  • ffolserk0002ffolserk0002 Member Posts: 2
    I had two dealerships on the phone, and told them I wanted no money down lease for 36 months, 36K miles, and got to around $200 including gap insurance.
    Looks like they discounted from 27K to around 22K. Probably 27K is inflated MSRP, but who knows. I come to the table with tax, tags, first month payment, title. In Maryland.
    Thanks for your replies.
  • ral2167ral2167 Member Posts: 791
    huh? you got an xle for less than an LE?? $200 a month for no money down? for a $27K msrp car??
  • antoniusantonius Member Posts: 39
    Yeah that does not make sense. 22k for a car and no money down, with a .0001 mf would yield a payment of about 230 with tax,
  • ffolserk0002ffolserk0002 Member Posts: 2
    I signed a new Camry lease last night and after reviewing the paperwork at home realized that the initial lease payment collected was not prorated. I called the dealer and sent an email about getting an adjustment. In the state of Maryland, is it too late to negotiate after you sign a lease?
  • hypnoticshypnotics Member Posts: 69
    Car_man,

    Just want to clarify that the Mf is 0.00001(0.2%), right? Thats great!

    Thanks in advance.
  • delta737hdelta737h Member Posts: 626
    Why would your 1st (initial) monthly payment be prorated? That doesn't make any sense. In a lease, your first payment is due at lease signing. There is no proration. The only thing that may be subject to proration are DMV (license) fees.

    John
  • kyfdxkyfdx Moderator Posts: 235,200
    Leases aren't like mortgages or apartment rents... They aren't all due on the 1st of the month, so no proration is necessary...

    If you leased a car on the 20th, the payment will be due on the 20th, each month, and also expire on the 20th of the last month..

    regards,
    kyfdx

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  • albostonalboston Member Posts: 7
    Hi,
    Long time reader. Would like to contribuite too.
    Just leased Toyota Camry 2011 LE 4 cyl. with mats and alloy wheels $400 down and $190/mth for 36 mths. and 12,000 miles a year. Also got free 2 year maintenance. Minimal negotiations using e-mails first to set the prices right.
    T. of Watertown in MA. Sales person Ray. The car is pretty good, rather quiet, everything is automatic. What's not to like?
  • jfn1000jfn1000 Member Posts: 40
    Alboston - did that $190 include MA sales tax? Also, when you say $400 down, was that total out of pocket, including 1st month payment? I've bought cars at T of watertown before and always been treated pretty well. Did you negotiate that face to face or just through email/phone.

    Thanks
  • albostonalboston Member Posts: 7
    edited August 2010
    Yes, $190/m included MA sales tax. $400 was documents fee and license/registration only.I negotiated rather lazy during 6 weeks due to a long vacation over e-mails only, maybe 4 times. And finally settle for $199/m $0 down (initially they wanted $1999 down and $199/m), then agreed to drop $1999. Face to face they wanted $400 upfront, but reduced to $190/m, which was ok with me. They also offered gap insurance for $395/3 years, which I declined, but for some it's ok deal too for a peace of mind.
  • trent9trent9 Member Posts: 2
    Got this quote ... seems pretty good when compared to other posted deals, but if I'm doing the math right the sales prices seem high. Hopefully I'm just doing something wrong ... any assessment would be much appreciated.

    In Wisconsin
    2011 LE with mats and alloy wheels (MSRP of 23,325)
    Residual = 14,269
    12k/year

    36 payments of $192 + tax ($203 after tax) ... nothing down other than the first month payment
    payments are all inclusive (title, fees, etc).

    One option question ... thoughts on the blue tooth radio? Adds $7/month ... feels like a good option but I've never used.

    Thanks in advance for any help
  • ral2167ral2167 Member Posts: 791
    Leased 2011 XLE 6 cylinder 3 year/15000 miles a year

    Heated seats/push button start
    Remote engine start
    Carpet mats
    Rear bumber applique
    MSRP 31193
    Payment: $309/month including 6.75% tax
    Only money down was first month payment.
    Didnt really negotiate much so probably got hosed. I do know money factor was .00001.
  • trent9trent9 Member Posts: 2
    not sure what I was typing ... got that quote a little wrong ... everything else is right

    36 payments of $206 + tax ($217 after tax) ... nothing down other than the first month payment
    payments are all inclusive (title, fees, etc).

    Thanks in advance for any help
  • oneqcktaoneqckta Member Posts: 1
    edited September 2010
    I was at the dealership today. This is the quote I received. IT's a 2011 camry SE 2546A model with AS FE QD CF EX SK options. They are selling it to me for 23,200. With taxes and fees rolled in and 15k for 36 months, they quoted me a payment of 279. I am in IL and will be getting the 00001. money factor. It's residualizing at 14836. I was at another dealership and they did not have the cf ex sk package on this car and their payment was 253/month. This was all done before I mentioned my trade. I have a 2008 camry with 3 months left on the lease. They said if I trade it in, they can minus the difference of what they will give me for the trade. Two questions. Is this a true statement, or can they only put the trade in value minus the payoff value? Also, does this sound high to you? Should I keep shopping around. Any help anyone can give, it is greatly appreciated
  • cosanostracosanostra Member Posts: 91
    Car_man -

    I'm looking at possibly leasing a 2011 Camry hybrid. Do you have the residual & MF for 36/12 and 36/15 on a hybrid with the leather, moonroof, and upgrade packages? Thanks.
  • lasvegasrphlasvegasrph Member Posts: 102
    I think you did really well.
    What was the RESIDUAL VALUE (price to purchase at end of lease)?
    What was the negotiated price (CAP COST) for the car?

    $309/mo for a $31k Camry XLE sounds GREAT to me! I just needed these 2 numbers to run my own calculations. Thanks!!
  • gb350gb350 Member Posts: 22
    Can anyone point me to what the Residual and Money Factor to lease a V6 Camry SE with 15,000 miles per year?

    Looking to get this in NY if that make a difference.
  • lasvegasrphlasvegasrph Member Posts: 102
    I am working on a lease deal right now for a 2011 Camry SE 2.5L/Auto with SE Value Package #1. The MSRP $25,990

    The residual, from what I can gather is right at 60% for 36mo/12k miles/yr. The 15k miles/yr should be 58%. Toyota's are hard to calculate the residuals, since not all options residualize. The SE V6 model, I would assume is similar.

    The money factor I have been quoted is: 0.00001 or 0.02% (which is basically 0%)

    There is $750 bonus lease cash also from Toyota, to help down payment right now.
  • haggardhaggard Member Posts: 92
    Do you know if that bonus cash is for all models or just the SE? I am working on a lease and my local dealers (all brands in this class) are not really budging. Treated best by Fitz in PA, which has offered the following on a 2011 Camry LE with alloy wheels preferred accessory pkg, 36 mos - 15K miles/year:

    MSRP: 23,315.00
    Base Cap Cost: 20,804.00
    Acquisition Fee: 650.00
    T,L and Processing: 180.00
    Adjusted Cap Cost: 21,634.00
    Residual: 13,827.00
    Money Factor: .00001
    Base Monthly Pmt: $217.22
    PA Tax (9%) $ 19.55
    Net Pmt: $236.77

    Due @ siging: First Payment $236.77

    Comments/Criticisms of this deal would be appreciated. Thanks.
  • lasvegasrphlasvegasrph Member Posts: 102
    The $750 bonus lease cash is available on all 2011 Camry's (even the Hybrid) right now. I would be willing to bet, the $750 is already included in your deal as reduced or Base Cap Cost.
    **I think your deal is pretty good, the 15k/yr leases are a few bucks higher/mo. due to the lower residual value on the car. The residual on the SAME car with 12k miles/yr would be $14,300.
    **Maybe tell them to keep you at $236.77/mo with $0 due at sign and take the deal.

    I am looking at a 2011 Camry SE with MSRP of $25,990 and my deal so far is:
    $235/mo + sales tax for 35 more months (12k miles/yr).......zero due at signing/sign-n-drive.
  • thebenzthebenz Member Posts: 32
    Lasvegasrph:
    $235/month for an SE with that MSRP sounds unbelievable. I'm looking for an SE now in that range except I'd prefer 15K miles/month.
    Out in SoCal, no one seems to budge off Toyota's current no money down $245/month LE deal w/12K miles/month.
    Can you tell me where this is being offered? Are you taking the deal or still negotiating?
    I might consider a deal in Vegas if offers are that aggressive.
  • antoniusantonius Member Posts: 39
    Where is that and with what dealership if I might ask?
  • lasvegasrphlasvegasrph Member Posts: 102
    thebenz:
    Unfortuately, Toyota sets up special/promotions by the Region in which you live and will register the vehicle. California is NOT in our Region, so the deals will be different for you in SoCal. You won't be eligible for Nevada's specials.

    I tried to talk to Longo Toyota and they would not deal/talk to me, since I live in Nevada......I was told they don't sell Toyota's unless they are registered in Cal.

    My lease numbers are correct (36mo/12k miles/yr and $25,990 SE) and valid until I sign the deal, which will be in the next week or so. The dealer started off at $262/mo + tax, and I told them NO. Then the next email was $235/mo + tax and I was told this was "as good as it gets".
  • antoniusantonius Member Posts: 39
    I live in Vegas and am looking for basically the exact same deal. Can you tell me where this was?
  • lasvegasrphlasvegasrph Member Posts: 102
    antonius:

    It took a little work to get to this point, I started off just sending emails to the various dealers (4) here in town. Findlay Toyota in Henderson, was way out of the ballpark with their pricing......too many fees and wouldn't deal. So, I would take them off the list and concentrate on the other 3 dealers.

    If you can, send me an email at: sherpa4tink@yahoo.com

    I can let you know what is going on with the deal I am working on and where. Once I sign my deal, I will post another reply with the broken-down deal. Wed/Thurs is when I plan on finalizing this deal.
  • antoniusantonius Member Posts: 39
    Sent
  • thebenzthebenz Member Posts: 32
    I spoke with Costco corporate this morning and they assured me that their dealers should provide the same discount on the car purchase price (value) for a lease that is extended to members for a purchase. This would include the current Toyota lease special advertised on the Camry LE for $249/month.
    I am in the process of confirming with Irvine Toyota just what the purchase price would be and from there, hopefully extracting what the monthly lease payments would be at the same money value rate and other parameters from Toyota's lease special.
    It should be less and I expect this to be confirmed back by dealers.
    It will give me some idea of what I could expect to get in a monthly lease rate discount compared to the $249/month advertised and hopefully give me some leverage to get either 15K miles/month or an SE 4 model for around $249/month without any further haggling.
    Anyone have direct experience in the last 2 years with the Costco Auto Program and in obtaining lower lease rates?
  • lasvegasrphlasvegasrph Member Posts: 102
    edited September 2010
    thebenz:
    Costco is correct on the purchase price should be good for BOTH a purchase or a lease.......however, some dealers try to play games and say the price is "different" for a purchase vs a lease. DO NOT PLAY THAT GAME. You will lose.

    Just FYI, that same special promotion you are talking about on the Camry LE is available here in Nevada, Arizona, Utah, Colorado, Wyoming for $199/mo with $249 due at signing (plus dealer fees) and the $249 due (was $999 due) includes the $750 bonus lease cash..............36mo and 12k/yr. However, you can do better with MORE negotiating and spending time emailing or going in/out of dealers.

    The dealer is in fact, "selling" the vehicle......if it is purchased or leased, it should not matter. Ideally, you always want to negotiate from the INVOICE (minus any rebates or factory cash) and up from there. Then, tell the dealer you want to see 2 quotes.......one for a purchase and one for a lease.

    Good Luck! Shoot for $500 under invoice.........plus the $750 lease bonus cash on ANY 2011 Camry right now. The MF = 0.00001 for Tier 1 credit, which is essentially 0% on a LEASE!!
  • shampzshampz Member Posts: 4
    Hi,

    I just moved to Los Angeles. On September 6th, I test drove a 2011 Camry LE (it had power seats), and I was quoted (and took) a lease of $180/month for 36 months, with the first month and approx $500 of fees up front. It was broken down as:

    MSRP: $22,100
    Residual: 64%
    Residual $14,144

    Sales Price: $19,904
    Acquisition Fee: $650
    Rebate (Labor Day): $500
    Total Cap Costs: $20,054

    Finance Factor: .00001

    To me it was a no brainer, I was surprised by your post though, the dealer (Miller Toyota in Culver City) said Toyota was really pushing Camrys, they looked pretty busy.

    Is this as a good a deal as I think, or am I missing something? I know that the $20,054 is more than what would be considered a good price on truevalue, but my total payments are approx. $7,000 over 3 years, and contains as close to zero interest as you can get.
  • thebenzthebenz Member Posts: 32
    Shampz:
    Great deal, what was the mileage per year?
    I'd like to land an SE with 15K miles/year and might give Miller a try.
    Don't know yet if they're Costco dealer but it sounds like an aggressive cap cost to me.
    The rep at Power Irvine Toyota said they had a glut of Camry's but I guess they are stubborn or are playing hard to get in which case I'm happy to tell them to stick their sucker deals in their Irvine ___.
  • shampzshampz Member Posts: 4
    thebenz,

    It was 12,000 miles per year. I am not supposed to put dealer names on my posts and I am new on the website so don't want to cause trouble, but I believe if you ask for the Internet Salesman (i started the process by emailing through their website), you will get to the right guy. He was straightforward and direct, and steered me clear of the Prius we were considering and into the Camry. After driving it for a week now, I am VERY satisfied with it, and the overall level of service at Miller Toyota. The lease came with the free 2 year maintenance plan as well, and they said they were the 5th or 6th largest service station in the country so getting it serviced would be fairly easy.

    I did try to negotiate price of the 'purchase' so that I would consider buying it at lease end, but he wouldn't budge and his offer was below what I was hoping to negotiate to, so I took it without any 'I'm walking' talk. I was a little suspicious at the deal so when he talked color, I changed my mind a few times to make sure the specific car I test drove wasn't a lemon, he couldn't have cared less what car I took, and color isn't important to me either, I went with Grey Metallic.

    Fell free to ask anything else, I may be in the market for a second car to purchase or lease and am still learning the ropes, never dealt with a dealership before.
  • thebenzthebenz Member Posts: 32
    shampz:
    Thanks for sharing the info.
    Was your SE 4 or 6?
    Grey metallic is what I'm looking for in an SE4, not 6, cloth seats, with 15 miles/year.
    Your price would have been a smudge higher, around $194/month if you rolled your $500 fees into the lease, since the $249/month offer is no fees on drive off.
    Still a great deal.
    How do you find the SE steering and ride compared to the LE?
    The same or a bit sportier?
    I like the SE look better and haven't test ridden it yet, just the LE but I imagine w/the suspension it might be better.
  • thebenzthebenz Member Posts: 32
    shampz:
    Thanks for sharing the info.
    Your SE was a 6, not a 4?
    Grey metallic is what I'm looking for in an SE4, not 6, cloth seats, with 15 miles/year.
    Your price would have been a smudge higher, around $194/month if you rolled your $500 fees into the lease, since the $249/month offer is no fees on drive off.
    Still a great deal.
    How do you find the SE steering and ride compared to the LE?
    The same or a bit sportier?
    I like the SE look better and haven't test ridden it yet, just the LE but I imagine w/the suspension it might be better.
  • lasvegasrphlasvegasrph Member Posts: 102
    edited September 2010
    Hello everyone!

    I just finalized my lease deal and picked up my 2011 Camry SE (2.5L/6A) in Super White with Ash Fabric, SE Value PKG #1 and Smart Key. MSRP $25,990

    My lease is 36mo/12,000 miles a year, as is broken down as:

    MSRP: $25,990
    Adjusted Cap Cost: $23,750
    DOC fee: $495
    Toyota Bank AQ Fee: $650
    Rebates and non-cash credits: $966.61 (here is the $750 Toyota lease cash)
    Gross Cap Cost: $23,925 (includes the $650 bank AQ fee)
    Residual Value: $15,304 (59%)
    MF: 0.00001 or 0.02%
    Depreciation: $8,446
    Rent Charge: $14 (thanks to the 0.00001 money factor!!)
    Total Base Monthly Payments: $8,460
    Due at lease inception: $0
    Lease Payment.......: $235/mo. + sales tax = $254.04 for 35 more months

    This deal took some time, effort, and luck. The dealer had quite a few SE models and wanted to move one. Hope this info helps!!!!!!
  • shampzshampz Member Posts: 4
    Hi,

    Sorry, I thought I had mentioned that it was an LE (its 4 cylinder). The steering and ride are very comfortable for me, I used to drive a 1999 Maxima SE and the Camry has WAY less road noise and a tighter turning circle (although I haven't looked that up, I am just basing it on my sense).
  • thebenzthebenz Member Posts: 32
    Sweet deal. Same deal out here would be a bit more due to the 8.75% tax rate for OC.
    I'm getting ready to try on the Costco program price for an SE and see how that translates for an SE 2.5, but will most likely work it as far as the dealer can push it.
    I really need 15K miles/month.
    Can you clarify what the Toyota lease cash is, is it part of the current promotion, available in CA, etc?
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