Here is what I am Looking for 2009 XLE Sienna Package #C Grey exterior/Leather interior 3 year lease 12k miles year $1,000 total drive off $475/month including tax Is this doable in the So Cal area?
Hi mkzone. I can't tell you exactly what your lease payment should be on this van, but I can provide you with the necessary information for you to negotiate a good deal on one.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around with a few dealers in your area for the lowest possible selling price. Given how slow the market is right now and how much competition there is in your neck of the woods, I personally don't think that you will have much trouble finding a dealer that will sell you an '09 Sienna for around $500 over dealer invoice. You may want to stop by the "Toyota Sienna Prices Paid and Buying Experience" discussion for additional feedback on how much you should pay for this model right now.
Once you have arrived at a selling price that you are comfortable with, have the dealer calculate your Sienna's monthly payment using its current buy rate lease money factor of .00075 (for Tier 1+ customers in its New York region) and you're all set.
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Thanks for reply There are saying the lease money factor is .00166 (3.9%) and you are stating .00075 (1.9%) is this a fixed number? or each dealership makes up numbers? does it vary for different types of cars? I am tier 1 rated.
We're shopping leases comparing an '09 Honda Odyssey EX and '09 Sienna XLE. Honda's initial offer is invoice and a 0.00191 money factor on a 36 month lease with $2000 at signing. One Toyota dealer said they could not compete and didn't even offer a quote.
In explaining their inability to compete the dealer said they could compete on a purchase but not a lease. This makes little sense to me. Isn't purchase price independent of lease or buy? If they should be able to something near invoice are the NC money factors so high that they can't compete?
What should money factors be for both Honda and Toyota in this area?
Car Man, could you please give me the residuals and money factors for a 2009 Sienna Limited w/ RES in both AWD & FWD on a 36 mo 15k lease in Southern California. Thanks !!
You're very welcome, mkzone. Yes, the .00075 money factor that I mentioned is available on all 2009 Sienna trim levels at all dealers in your state to consumers who qualify for Toyota Financial Services' top aka Tier 1+ credit tier. If your credit is in great shape, the only reason why this van's money factor would be higher is if the dealer that you are negotiating with was trying to mark it up to add additional, hidden back-end profit to your deal.
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Hi Allan. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2009 Odyssey in your area is currently .00161 for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.
While I haven't seen the lease program for the 2009 Sienna in your area because you are in Toyota's Southeast region which is an independent distributorship, I suspect that the dealer was implying that lease program for the Sienna in your area is not competitive with the Odyssey's, but that he could use the cash incentives that are available in your area and a significant dealer discount to offer you an attractive purchase price.
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I was paying around $298 per month for my no money down (I think it was like $600 at signing - first month and security) and recently asked for a new lease as this is coming up in January.
Credit is 800+
This will be our third 3 yr lease in a row with Toyota.
I was quoted the high $400s because of "low residuals." So I am considering 1) other options for a lease for a Sienna - am I getting shafted? 2) buying the car as it is in good shape. If residuals are really low, can I negotiate a lower buyback price? My guess is Toyota does not want the car. 3) Is Honda any better?
2009 Sienna XLE package 4 with some other misc options. Specifics of MSRP, invoice and selling price are not critical to my question.
I have a lease quote of approx $520/month for 36 mos and 12k/yr with only 1st month and tags at signing. I can purchase the same vehicle with a payment of $590/month for 60 months at 2.9%. My question is, if I plan to drive the vehicle 10-12k miles per year, is there a clear cut decision to make? Historically, I have always leased and like to get a new car every three years but with the trend in lower residuals coupled with the deep discounts and low interest rates for purchasing, the monthly payment for buying and leasing has narrowed and I am now thinking that even if I buy and then decide to sell the vehicle after three or four years, I might be in a better position than leasing. Your opinion is appreciated. I have used these forums for my last two leases and I made out very well in my opinion. Thanks.
I am looking for 12/36 lease on 2009 Toyota Sienna LE AWD in Chicago Metro area. Any ideas on RES, MF, or anything else I need to know for lease negotiation? Many thanks Alec
I got a similar deal back in January of 2006. I put $1999 down on an LE 8 seater & have been paying $280/month (36 month lease.) Now I'm getting lease quotes around $350/month. Honda is offering a better lease deal, but I do love my Sienna, especially the 3 seats in the 2nd row....
Anyone know of any new lease deals in the Atlantic region? (PA) I can't find any at this time...it's making me nervous because my lease is up on 1/1/09.
Hi skops. I personally usually prefer leasing to buying as well, but in this instance I probably would finance rather than lease. For a little over 10% more you'll actually own the Sienna in a few years rather than walking away with nothing. If it was $375 or $450 vs. $590 it would be a closer race, but for me the purchase wins this one hands down.
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Hi alecb2008. Unfortunately, I have not seen what Toyota Financial Services' special lease money factor is for the 2009 Sienna in its Chicago region lately. I can tell you though that its current 36 month, 12,000 mile per year residual value percentage for an '09 Sienna LE AWD is 49%. Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult for individual consumers to estimate vehicles' lease payments.
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My lease just ended on 06 Sienna Limited AWD. We are interested in buying it at a fair price. Residual is $21,700 but I'm getting trade offers on the vehicle for $17-19,000. Toyota "inventory control" dept won't budge over the phone. Anyone have any tips for how to negotiate the price, or is it really impossible? I know other mfrs will deal on residuals, but maybe Toyota really won't?
Can you let me know what the latest Money Factor and Residual Value is on a Limited AWD in the New York area, assuming I qualify for Tier 1+ pricing. Thanks very much
Would the MF and RV change much if I traded down to a LE AWD?
Hi land55. Toyota Financial Services' current New York region buy rate lease money factor and residual value for a 36 month lease of a 2009 Sienna Limited AWD with 15,000 miles per year are .00075 and 45%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
The money factor for a lease of a non-Limited model would be the same, but the residual value would be 2% higher.
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I have a close end lease and will be returning my 2006 Sienna but it has a chip in the windshield. I have called them and they said I could replace it with a comparable windshield. Should I do this or will they still replace it with a Toyota windshield and bill me for it anyway?? It is not worth putting it through my insurance because of my deductible and I don't want to end up paying for this twice. Any advice would be great for those who have had their lease end and returned their vehicle.
Hi twinmom1. Whether you should replace your windshield or not probably depends upon how big the chip in it is. Is if very noticeable and already spidering? Or is it small enough that it could possibly be overlooked during the inspection. If it is at all noticeable, you probably will be better off replacing it on your own rather than getting dinged for it by the bank that you are leasing through.
You're right, it doesn't make sense to claim your windshield on your insurance. I never do.
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Hi jrm005. Toyota's lease program often varies depending upon which one of its twelve regions one is in. You never mentioned what state you are in, but the most widely available special money factor for the 2009 Sienna right now is .00158 for consumers who qualify for Toyota Financial Services' top credit tier.
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I am looking to lease a 2009 Sienna LE in Ohio for 12,000 miles for 36 months. Can someone tell me the Residual Value Percentage and the Money Factor so that I may calculate a ballpark lease payment.
Also, should I use the "TMV Price" or the MSRP from Edmunds.com with either BEFORE or AFTER any incentives to calculate the net capitalized cost?
Definetly replace it yourself, I have leased 6 vehicles in the last 15 years and that and tires are the first things they look at. If you have to pay dealer list for a windshield it will probably be double what you would pay to have an independent glass installer come to you and fix or replace.
Hi RedBlueFish. Here's the information that you're looking for. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Toyota Sienna LE with 12,000 miles per year in its Cincinnati region are .00158 and 48%, respectively for consumers who qualify for its Tier 1+ credit tier.
Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult tor consumers to calculate the actual dollar residual values for specific vehicles.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible price on the '09 Sienna that you want, ideally one that is as close to dealer invoice as possible, and then have the dealer calculate your van's lease payment. Toyota's current customer cash incentive on this model is not compatible with its special lease program.
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My 2006 LE's lease is coming up in a couple of months. Just visited a couple of dealers and was flabbergasted by the current residuals and money factors. I leased the 2006 LE with one power door, garage opener etc with 0 drive off - $338/month including california taxes. The same car today will cost me more than 475 a month? The residuals have been lowered from 60% in 2006 to 45% in 2009. The money factors are terrible!
I don't get, in this economy, while this dealer has an inventory of over 80 siennas on the lot, they are trying to sell me the same car for 50% more than what I pay for it right now? What in the name of *#&$*#&$ is going on?
Anybody have any explanations for this? Any strategies other folks in the group have used?
Hi isingh. As I said in a recent post, major recessions are like Chuck Norris to the value of used vehicles. The problem is that the vehicles that banks leased several years ago are coming back today worth nowhere near what they estimated they would be. These residual value losses are costing banks millions of dollars. The banks that still lease vehicles, many like GMAC and Chrysler Financial have pulled the plug on leasing completely, are being a lot more conservative in their residual value estimated. Since the estimated depreciation accounts for a huge chunk of lease payments this phenomenon is causing leasing to become more expensive at the absolute worst time for manufacturers and dealers, compounding their sales woes.
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hi Car man: The latest promo from Toyota for an LE Sienna is very expensive. 369 per month with 1999 plus first months payment. Does not include tax. Can I find a better deal ? Also looking at a Honda Odyssey trying to find a great Minivan and not spending more than 350 with no money down. I have a 2005 Odyssey that is an EX-L with DVD for 400.00 per month no money down. Thanks for your help, tradermom
Hey tradermom. Savvy consumers who are in an area that has a decent level of competition can almost always negotiate a lower selling price on the vehicle that they want, and in turn a lower monthly payment, than manufacturers' advertised deals.
The Honda Odyssey might indeed be a little less expensive than the Toyota Sienna to lease at this point. You definitely should check it out. The only other minivan out there that has a decent lease program available on it that comes to mind is the Volkswagen Routan, but it probably won't be any cheaper than the aforementioned vehicles.
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Wondering if anyone has any insight: my 2006 Sienna LE with 20,000 miles is coming off lease at the beginning of August. The lease is held by USBank, which has quoted a payout of $15,816 if I want to keep the car. Checking online price guides, this seems ok. Does anyone have experience trying to negotiate a lower price? If so, any effective techniques that work? Thanks for any insight.
Is the residual set by Toyota or buy the individual dealerships? I'm in Rochester NY, and a dealer told me the residual is about $12k...that seems ridiculous, since there are no 3-year old used Siennas on the market for anything close to that low. Just wondering how much bargaining room I have on that - more if it's his number than if it's Toyotas, I imagine. Thanks!
Toyota Sienna 2006 lease is up in Aug; Trying to buy it but everyone has a different answer. Bank says used. TFS says new. Dealer doesn't want to bother. Should I just extend lease? Daniel44
I had the same experience back in may although I was trying to lease a new one. Here I am, sitting at the dealership, asking to lease a car the same day. They had the worst lease rates, no incentives to take the car back and on top, would only give me the repair estimates AFTER I returned the car. Couldn't believe that in this economy, they let a customer walk out the door. I just extended the lease for 6 months - deferred the pain a bit. See what happens in 4 more months.
Does anyone know if Toyota has a website of what they will charge me for tires, scrapes etc when I turn in my lease ? A friend said he got an allowance with Honda but that doesn't seem to be the case with Toyota.
I have leases a number of vehilces and the turn in results have been similar. Here are the things to watch for
1. Tires they need to have 1/8 inch thread 2. Windshield and glass no cracks. 3. Acessories must be there, cargo lids etc.
After that it is a bit subjective, most of my leases at about 45 days to go I get a little plastic thing that has holes in it saying if a ding is bigger than this hole you will pay if a scratch is bigger than this one you pay. If there is a tear on the inside bigger than this you pay.
I would take lots of pictures before you turn the vehicle in, just in case there opinion differs from yours on normal wear and tear.
I will also add that on some leases at the end I have negotiated a bit and tried to hold my ground on things that were wrong and got them to split the cost of say some road rash on the front bumper.
I have a mini going back in a couple months and they have me a little concerned because they are asking for a pre turn in inspecition as if they 'want' to find things wrong?
Does anyone have the acquisition fee, money factors and residuals for a 2010 Sienna LE 8 passenger 3yr/36K and 3yr/45K lease. Also, same info for a 2010 XLE FWD with the same terms/mileage.
Hi 5432. Toyota's lease program varies depending upon which one of its twelve regions you are in. I would be happy to try to find out what this van's lease program is like in your area if you tell me what state you are in.
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Greetings family_man. Toyota's lease program varies depending upon which one of its twelve regions you are in. I would be happy to try to find out what this van's lease program is like in your area if you tell me what state you are in.
For now I can tell you that Toyota Financial Services charges a $650 acquisition fee on leases in all regions (other than the Southeast).
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Hey Guys -- do you have the residual values and lease factors for a 36 and 48 mo sienna in NH? I am looking at the LE and XLE -- went to honda today and got an 09 odyssey 48 mo at 48% residual and .0029 factor..
Im stressed about my impending lease return...I have a 2006 sienna LE and quite frankly the carpet mats are pretty dirty (even after vacuuming). Am I going to be charged for them? If so should I replace them before I return it?
I would not, it may pay to give them a deep cleaning with a wet dry vacuum made for carpets they work well.
Remember the car you are retunring is not new it is 4 years old. The carpets are allowed to have normal wear and tear. There is the rub though what is normal. In the end the lease company may try to bully you a little but there power is not so great and you can bargain with them.
Good luck and do not stress worst they should hit you for is 150 to have them professionaly cleaned.
great. So I returned the vehicle two weeks ago and today I get a bill in the mail for 1200 worth of repairs. Most of it derives from a repair made via a claim I made through geico, and one of their auto repair shops did it. The paint job is apparently too wavy...already called GEICO.....
As long as you did it through GEICO you should be covered, wow the shop did that poor of a job? I turned in a mini last month that had real backyard autobody done on it and I was a little nervous but nothing about the front end repairs!!! I do owe them 750 for mileage overage so mayeb they are just glad to get that?
Did they ding you for the carpets though? That was sort of the jist of my reply was the phrase "normal wear and tear".
Comments
2009 XLE Sienna
Package #C
Grey exterior/Leather interior
3 year lease
12k miles year
$1,000 total drive off
$475/month including tax
Is this doable in the So Cal area?
Looking at 2009 Sienna CE
500 down
12k / year
36 months
Any ideas ballpark?
Thanks
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around with a few dealers in your area for the lowest possible selling price. Given how slow the market is right now and how much competition there is in your neck of the woods, I personally don't think that you will have much trouble finding a dealer that will sell you an '09 Sienna for around $500 over dealer invoice. You may want to stop by the "Toyota Sienna Prices Paid and Buying Experience" discussion for additional feedback on how much you should pay for this model right now.
Once you have arrived at a selling price that you are comfortable with, have the dealer calculate your Sienna's monthly payment using its current buy rate lease money factor of .00075 (for Tier 1+ customers in its New York region) and you're all set.
Car_man
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There are saying the lease money factor is .00166 (3.9%) and you are stating .00075 (1.9%) is this a fixed number? or each dealership makes up numbers? does it vary for different types of cars? I am tier 1 rated.
In explaining their inability to compete the dealer said they could compete on a purchase but not a lease. This makes little sense to me. Isn't purchase price independent of lease or buy? If they should be able to something near invoice are the NC money factors so high that they can't compete?
What should money factors be for both Honda and Toyota in this area?
Thanks much,
Allan
Car_man
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While I haven't seen the lease program for the 2009 Sienna in your area because you are in Toyota's Southeast region which is an independent distributorship, I suspect that the dealer was implying that lease program for the Sienna in your area is not competitive with the Odyssey's, but that he could use the cash incentives that are available in your area and a significant dealer discount to offer you an attractive purchase price.
Car_man
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Credit is 800+
This will be our third 3 yr lease in a row with Toyota.
I was quoted the high $400s because of "low residuals."
So I am considering
1) other options for a lease for a Sienna - am I getting shafted?
2) buying the car as it is in good shape. If residuals are really low, can I negotiate a lower buyback price? My guess is Toyota does not want the car.
3) Is Honda any better?
thanks,
matcohen
My question is buy vs lease -
2009 Sienna XLE package 4 with some other misc options. Specifics of MSRP, invoice and selling price are not critical to my question.
I have a lease quote of approx $520/month for 36 mos and 12k/yr with only 1st month and tags at signing. I can purchase the same vehicle with a payment of $590/month for 60 months at 2.9%. My question is, if I plan to drive the vehicle 10-12k miles per year, is there a clear cut decision to make? Historically, I have always leased and like to get a new car every three years but with the trend in lower residuals coupled with the deep discounts and low interest rates for purchasing, the monthly payment for buying and leasing has narrowed and I am now thinking that even if I buy and then decide to sell the vehicle after three or four years, I might be in a better position than leasing. Your opinion is appreciated. I have used these forums for my last two leases and I made out very well in my opinion. Thanks.
Any ideas on RES, MF, or anything else I need to know for lease negotiation?
Many thanks
Alec
Anyone know of any new lease deals in the Atlantic region? (PA) I can't find any at this time...it's making me nervous because my lease is up on 1/1/09.
Car_man
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Thanks!
Can you let me know what the latest Money Factor and Residual Value is on a Limited AWD in the New York area, assuming I qualify for Tier 1+ pricing. Thanks very much
Would the MF and RV change much if I traded down to a LE AWD?
The money factor for a lease of a non-Limited model would be the same, but the residual value would be 2% higher.
Car_man
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You're right, it doesn't make sense to claim your windshield on your insurance. I never do.
Car_man
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Also, should I use the "TMV Price" or the MSRP from Edmunds.com with either BEFORE or AFTER any incentives to calculate the net capitalized cost?
Thanks in advance.
RedBlueFish
If you have to pay dealer list for a windshield it will probably be double what you would pay to have an independent glass installer come to you and fix or replace.
Trust me on this one.
Sienna XLE
Option Package #4
Slate Metallic
MSRP: $34,950.00
Cap Cost: $31,482.00
Residual: $15,349.00
Money Factor: 0.00158
Drive Off: $886.61
Term: 36 mos
Mileage: 12,000 / yr
Pre-tax Payment: $541.21 / mos
Payment w/Tax: $585.86 / mos
Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult tor consumers to calculate the actual dollar residual values for specific vehicles.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible price on the '09 Sienna that you want, ideally one that is as close to dealer invoice as possible, and then have the dealer calculate your van's lease payment. Toyota's current customer cash incentive on this model is not compatible with its special lease program.
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I don't get, in this economy, while this dealer has an inventory of over 80 siennas on the lot, they are trying to sell me the same car for 50% more than what I pay for it right now? What in the name of *#&$*#&$ is going on?
Anybody have any explanations for this? Any strategies other folks in the group have used?
Car_man
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The latest promo from Toyota for an LE Sienna is very expensive.
369 per month with 1999 plus first months payment. Does not include tax.
Can I find a better deal ? Also looking at a Honda Odyssey trying to find a great
Minivan and not spending more than 350 with no money down. I have a 2005 Odyssey that is an EX-L with DVD for 400.00 per month no money down. Thanks for your help,
tradermom
The Honda Odyssey might indeed be a little less expensive than the Toyota Sienna to lease at this point. You definitely should check it out. The only other minivan out there that has a decent lease program available on it that comes to mind is the Volkswagen Routan, but it probably won't be any cheaper than the aforementioned vehicles.
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Cash Rebate $800
Inception Fee $1621
Total Cash $821
Original MSRP $32567
Maximum Adv $36518
Resid 46% $14980
Mileage Adj+1% $325
Adjusted Res $17401
Dealer Cost $28497
Selling Price $28747
Price Adjust $821
Adjust Sell Price $29568
Assignemnt Fee $695
Total Cap Cost $30263
What do you think about this deal?
thanks for your input.
could you please post July money factor and residual for 2009 and 2010 Sienna XLE AWD on 36mo, 12,000 miles lease?
thank you in advance
has a different answer. Bank says used. TFS says new. Dealer doesn't
want to bother. Should I just extend lease?
Daniel44
Thanks
1. Tires they need to have 1/8 inch thread
2. Windshield and glass no cracks.
3. Acessories must be there, cargo lids etc.
After that it is a bit subjective, most of my leases at about 45 days to go I get a little plastic thing that has holes in it saying if a ding is bigger than this hole you will pay if a scratch is bigger than this one you pay. If there is a tear on the inside bigger than this you pay.
I would take lots of pictures before you turn the vehicle in, just in case there opinion differs from yours on normal wear and tear.
I will also add that on some leases at the end I have negotiated a bit and tried to hold my ground on things that were wrong and got them to split the cost of say some road rash on the front bumper.
I have a mini going back in a couple months and they have me a little concerned because they are asking for a pre turn in inspecition as if they 'want' to find things wrong?
Thanks!
Car_man
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For now I can tell you that Toyota Financial Services charges a $650 acquisition fee on leases in all regions (other than the Southeast).
Car_man
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Thanks for getting back to me. I live in Northern Virginia. I appreciate any information you can provide.
Family_man
Think Honda is worse than Toyota (hopefully)
I should be Tier 1 credit.
Thank you very much in advance,
Jason
Remember the car you are retunring is not new it is 4 years old. The carpets are allowed to have normal wear and tear. There is the rub though what is normal. In the end the lease company may try to bully you a little but there power is not so great and you can bargain with them.
Good luck and do not stress worst they should hit you for is 150 to have them professionaly cleaned.
The paint job is apparently too wavy...already called GEICO.....
Did they ding you for the carpets though? That was sort of the jist of my reply was the phrase "normal wear and tear".
Ray