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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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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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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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: $585.86 / mos
Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult tor consumers to calculate the actual dollar residual values for specific vehicles.
The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible price on the '09 Sienna that you want, ideally one that is as close to dealer invoice as possible, and then have the dealer calculate your van's lease payment. Toyota's current customer cash incentive on this model is not compatible with its special lease program.
Car_man
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I don't get, in this economy, while this dealer has an inventory of over 80 siennas on the lot, they are trying to sell me the same car for 50% more than what I pay for it right now? What in the name of *#&$*#&$ 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.
Car_man
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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