Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Options

Toyota Sienna Lease Questions

2456789

Comments

  • Options
    svw1svw1 Member Posts: 2
    Thank you for you reply--your assistance is appreciated!
  • Options
    roxie1298roxie1298 Member Posts: 2
    Car_man:

    Looking for your help on info for the following in Western Upstate New York region (8% tax)

    LE8 w/BZ package

    I'm told the MSRP is $28,574
    want to lease for 36 months, 15,000 miles/year
    [may need to go to 18,000 miles/year - what changes in the calculation when doing that? - is it better to get 18,000 miles up front or pay for additional miles later?]

    What would the money factor, residual and payments be? (assuming I am at the top credit rating).

    I'd like to get the variables going into the lease calculation (for 15,000 and 18,000) and then the payment amount so that I can do it myself to see if I get it right.

    Also -
    Have never leased a Toyota:
    - is there an aquisition fee
    - is there a dispostion fee
    - is there an end of lease excess damage waiver? (like Honda's $1500 waiver? - just had my final end of lease inspection for Honda Odyssey and it went really well, even with many little dents and scrathes - and even one dent I thought they would charge me for - and I think they will even waive two tires that need to be replace)

    Thanks a lot!
  • Options
    supercar4mesupercar4me Member Posts: 1
    What credit score you need to be Tier 1?
  • Options
    betty65betty65 Member Posts: 5
    Any help would be appreciated on my first potential lease. How much should I be paying for a lease payment for a 36month Sienna XLE p6 12K. Excellent credit rating.
    Thanks.
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi roxie1298. 15,000 miles per year is the highest mileage allowance that Toyota Financial Services publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to to do at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    If you were to lease a 2006 Toyota Sienna LE through Toyota Financial Services in its New York region right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00170 and 58%, respectively assuming that you qualify for its Tier 1+ credit tier. I can't calculate an approximate monthly payment for this van without knowing its selling price.

    The last time that I checked, Toyota Financial Services charged a $400 acquisition fee on every vehicle that it leases. You can either pay this fee at signing or have it added into your van's capitalized cost to make it part of your monthly payment. I'm not sure if TFS charges a disposition fee. I don't believe that it has a damage waiver like Honda Finance does.

    Car_man
    Host
    Prices Paid Forums
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey supercar4me. I believe that consumers need a score of something like 730+ to qualify for Toyota Financial Services' Tier 1+ credit tier. This tier provides its most attractive money factors. Tier 1 would be below that to some sort of floor that is probably in the high 600's.

    Car_man
    Host
    Prices Paid Forums
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings betty65. This van's monthly payment will depend upon its MSRP and selling price. If you provide me with these numbers I can try to provide you with an estimate of what its monthly payment should be.

    Car_man
    Host
    Prices Paid Forums
  • Options
    betty65betty65 Member Posts: 5
    Great! The MSRP including delivery, processing and handling is $34,633. The selling price is 30,366.
    This is for a 3 year 15K. Thanks for your help.
    P.S They add a $599.50 Doc fee to your first months payment. Is that a fee that is standard?
  • Options
    leasesiennaleasesienna Member Posts: 2
    Hi There,
    sorry for the posting again.. I did not realise there was a dedicated leasing sub forum..

    I was wondering how I did..with my lease.

    I leased it in California, Daly City, from city Toyota.

    Leased a 2006 Sienna LE with package #2 for
    $1888.00 down(1st month+tax+reg+doc etc) and $279($259+tax)/month for 36 months, 15K miles per year. $14600.00 option to buy after 36 months lease exp. I think I see $24,500.00 as the price on the invoice somewhere.

    I leased it on the 4th of july week when they were having a special money factor (0.00098) for lease on the sienna.

    I walked into the dealership wanting to lease a RAV4, ended up leasing the sienna though.

    Did I make a good decision.. was I taken for a ride..

    I did test drive the Honda..like the toyota better..

    If anyone wants, I can give out the phone number for the sales person who helped me make this lease.

    Personally I think I did allright with this deal..not really sure though. I sometimes feel the van should have been $22500 or so.

    -Chris
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey betty65. I just realized that you are in Toyota's Southeast region. Toyota sells vehicles through an independent distributor in your area, Southeast Toyota. SE Toyota uses its own bank rather than running its leases through Toyota Financial Services like Toyota does in all of its other regions. I have not seen SE Toyota's current lease program for this van so I can't work up a payment on it for you. Sorry that I can not be of more help with this aspect of your deal. I can tell you that $599.50 is way too much to pay for a doc fee. Doc fees are really nothing more than a way for dealers to add additional profit to deals. Make sure that you take this fee into account when you look at this van's total price. If you feel as though the total price that you are being charged for this van is too high, shop around with a few other dealers and see if you can get a better deal.

    Car_man
    Host
    Prices Paid Forum
  • Options
    speedswedespeedswede Member Posts: 1
    I'm looking into leasing a Sienna LE8 with Package #2. The vehicle they have in stock also have floor mats and of course the mandatory ToyoGuard. Yesterday I was offered a 36 months 12k miles for $349 (including TTT) per month with no money down. Is that a decent deal or should I be able to get a better deal?
  • Options
    hjjchjjc Member Posts: 2
    I'll try to make this concise, so as not to confuse anyone, as the finance guy did me. 1) I agreed to lease a car for $39,000. He said it shows up on the paperwork as $40,000 because of the way he typed in the program (money factor, GAP, etc.) That doesn't sound right to me. 2) I felt pressured to buy the maintenance program ($1500) and now want to cancel. He is giving me a hard time because he said it was worked into the lease agreement with the money factor which is calculated into a low interest rate (he said 2.04%). So if I cancel it, he needs to cancel the contract, redo the lease at the higher interest rate. This makes no sense to me & I am wondering if there is anything I can do about it. I bought the car about 2 weeks ago. Any explanation or help would be GREATLY appreciated. Thanks.
  • Options
    jsevensevenjsevenseven Member Posts: 11
    Car Man:
    What is the residual and money factor for an 2006 Sienna XLE with either package 7 or 8. I am looking for 36 months and 12k per year. A dealer told me the 07's don't come out until December and I think this may be a much better value then the Honda.

    Thanks for your help,
  • Options
    trothtroth Member Posts: 3
    Will October bring about any special lease deals on the 2006 Sienna? I am in Minnesota. Any insight appreciated.
  • Options
    robbygrobbyg Member Posts: 61
    Does car_man still visit this forum? Doesn't look like there is alot of activity here for some reason.
  • Options
    trothtroth Member Posts: 3
    Ditto
  • Options
    trothtroth Member Posts: 3
    I'm hoping car_man can comment on my situation. I welcome anyone else's comments, as well.

    I'm in SE Minnesota. Planning to lease (36 month/36,000 miles) a 2006 FWD Sienna LE, Package 4 with floor matts.

    $25,750 before $2000 rebate (does not include tax/title)

    Two lease options:

    1) Toyota finance:
    Residual $14,529
    MF 0.00285
    Acq. fee $400
    Monthly payment $403

    2) MNI Automotive
    Residual 15,085
    MF 0.0026
    No Acq. fee, but $400 termination fee after 36 months
    Includes GAP insurance
    Monthly payment $367

    Anyone have any experience with MNI Automotive. I've heard some horror stories with bank leases but the lower payment sure is tempting. Comments appreciated.

    Thanks
  • Options
    robbygrobbyg Member Posts: 61
    Hey Car_man are you out there?
  • Options
    kfranci2kfranci2 Member Posts: 31
    Hi car_man,

    I got a terrible lease quote on a Sienna today. It was 7.5% money factor and 50% residula for a 36 month lease with 12K per year. Can you please give me the real Toyota program (which i hope is better?) I am in Mpls MN and looking to lease a XLE package 6 with a list of $34,625 and a purchase price of 29,300 after rebates.
  • Options
    stevernstevern Member Posts: 41
    Hi Car_Man,

    Thanks so much for answering my question over at the Odyssey Lease forums. I can't believe how expensive the leases are! So now I will see what the Sienna leases look like. Can you give me the MF & Residual for an 06 or 07 Sienna LE/XLE with and without AWD for a 36 month, 12k/year lease? Thanks, Steve in NY
  • Options
    robbygrobbyg Member Posts: 61
    So this quote wasn't through Toyota Financial? Since you posted this a few weeks ago have you received any updated information? I'm also trying to get the lease info on an 06 Sienna but this forum seems to be dead.
  • Options
    kfranci2kfranci2 Member Posts: 31
    The quote was through Toyota Financial. I can't believe they say a XLE Package 7 will only be worh $17K in 3 years. Less than 50% resid on a Toyota? And an interest rate/money factor in the 7's. It's just strange that with support on the van right now they don't make any attractive leases.

    What have you found out about lease info? At this point I am leaning towards the Chryslers or just waiting til year-end.
  • Options
    robbygrobbyg Member Posts: 61
    Yeah since we are at year end it's not a good time to lease an 06 anymore. I thought maybe there would be a decent money factor that would help offset the low residual. I still haven't gotten any quotes on an 06 lease, but even if they are selling for under invoice the payments don't look too good at all.

    I'm probably going to go with an 07 Odyssey, the money factor isn't great from Honda Financial (.00290) but at least the residual is 60% and I've gotten quotes for well under invoice for an EX model.

    If you can wait until January or February when the 07 Sienna's are out that might be better for you, in my case I can't wait that long since my current lease is up soon.
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Steve. I don't think that you'll do any better leasing a Sienna than a Honda Odyssey. Toyota is no longer providing lease support on the 2006 Sienna and I don't believe that the 2007 model is available yet. Honda just enhanced its lease program on the Odyssey. If I was personally in the market for a minivan right now, that it the vehicle I would lease.

    Car_man
    Host
    Prices Paid Forum
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey robbyg. Toyota is not providing lease support on the 2006 Sienna any longer. As a result, it is not a great vehicle to lease right now. As I just told the previous poster, if I was in the market for a minivan at this time I personally would take advantage of the recently enhanced lease program on the 2007 Honda Odyssey. Even when the 2007 Siennas begin to arrive at dealers early next year I highly doubt that they will appear with lease support on them right out of the gate.

    Car_man
    Host
    Prices Paid Forum
  • Options
    cahbakercahbaker Member Posts: 2
    I am about to buy a 2007 ltd sienna FWD packages 3 and 4 with rear spoiler and carpet mats. MSRP: 42254. Cost 37000. Plus tax and license. What should a lease payment be? Residual value? I have top rated credit? On the invoice for this car and another similar less expensive Sienna without package4 and without the rear spoiler the same residual value is listed on the invoice copy printout. Why?
  • Options
    coupedncalcoupedncal Member Posts: 252
    Toyota's site is stating there is a lease special on '07 Sienna LE. About $ 279 per month with $2500 down for 36 months. Does anyone know what is the capitalized cost? Is it based on MSRP minus the down or is it based on an amount closer to invoice? If Toyota wants to be be competitive, it needs to be closer to invoice. Also, what would be residual and MF on this deal ?
  • Options
    schwaloschwalo Member Posts: 4
    Hi what should I expect to pay on a '07 Sienna in IL

    LE Pkg#3

    XLE Pkg #4

    3yr, 12K

    Appears no deals now, but is it better to wait?

    Thanks!
  • Options
    drmaltesedrmaltese Member Posts: 1
    Hi, I have an '04 XLE Sienna MSRP $32000 leased 48M/48K. $0 down and $409/M with 13 payments left. We love the van and can see us keeping it. The residual is $15,700. At what price would it be worth buying it? If I could buy it for $14k or so would it be wise given how much we like it? Was the original deal OK based on these numbers? I know it's early but I want to start figuring it out. Thanks for any help.
  • Options
    123deb123deb Member Posts: 1
    Hi,
    I'm interested in leasing a 2007 Sienna LE 7 pass. for 36 or 39 months. The invoice is $24340. w/$750 rebate. What is the residual value. My money factor is .00184. What should I expect to pay? Best way to structure this lease?
    Thanks for the advice. Deb
  • Options
    tsbtsb Member Posts: 8
    Hi,

    I'm looking to lease a 2007 Sienna XLE Limited with the only option being the pearl paint. I'm interested in a 36 month/12K mile per year lease. I''m located in New Jersey. I would like to know the current money factor and residual once available for April. Thanks in advance.
  • Options
    franklingt3franklingt3 Member Posts: 17
    I ahve not seen lease prices for the Siennas lately. Want a 24 mo. or 30 month lease , 12k. Ideas?? NJ

    THX :)
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Deb. Toyota's lease program varies depending upon which one of its twelve regions one is in. I would be happy to give you an idea of what its current program is like for the 2007 Sienna in your neck of the woods if you tell me what state you are in. As far as this van's selling price goes, in most areas, the customer cash that Toyota is providing on it is not compatible with its special lease program. If that is the case where you are, you will not be able to take advantage of the $750 rebate that you mentioned. I personally would shoot for a selling price of around $500 over invoice or so. Try stopping by the following very active discussion for additional information on how much you should pay for this model right now: "Toyota Sienna: Prices Paid & Buying Experience".

    Car_man
    Host
    Prices Paid Forum
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, tsb. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Toyota Sienna XLE Limited with 12,000 miles per year in its New York region are .00126 and 54%, respectively for consumers who qualify for its "Tier 1+" credit tier. The problem with using this data to calculate a lease payment on the van that you are interested in is that TFS' residual value percentages are based on vehicles' base MSRPs. Unlike most other banks, it places strict restrictions upon which options can be residualized. At least you can use the money factor that I provided you with to make sure that the dealer you get your Sienna from is not marking yours up.

    Car_man
    Host
    Prices Paid Forum
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi franklingt3. Toyota Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2007 Toyota Sienna XLE Limited with 12,000 miles per year in its New York region are .00126 and 60%, respectively. I haven't seen this van's 30 month residual value lately, but its money factor for that term would be exactly the same. The re is a problem with TFS' residual values anyhow. They are based upon vehicles' base MSRPs. TFS places restrictions upon which options can be residualized. This makes it difficult to use its published residuals to estimate vehicles' lease payments. The calculation of models' residual values is so complicated that TFS actually provides dealers with a list of the actual dollar residual values for the models that they have in stock.

    The easiest way to get a good deal on a lease of this van is to shop around for the lowest possible selling price and then have the dealer use the aforementioned money factor to calculate your monthly payment.

    Car_man
    Host
    Prices Paid Forum
  • Options
    caprovocaprovo Member Posts: 7
    Hey Car Man!

    Can you give me the money factor & residual for a 2007 Sienna LE FWD with standard features for a 36 month 12k per year lease? I'm in upstate NY. I'd like to compare this to the Odyssey EX so I'll go over to that forum for your insight on that (unless you can answer that question here :) ).

    Thanks,
    Carl
  • Options
    sanferminsanfermin Member Posts: 12
    Hi,

    I'm in Colorado and looking for lease rates for an XLE AWD - 36 month 12k/year. MF and Residual %? Also, is the rebate compatible with the leases?

    Thanks,

    -Dan
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Carl. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Toyota Sienna LE FWD with 12,000 miles per year in its New York region are .00126 and 56%, respectively for consumers who qualify for its "Tier 1+" credit tier. Make sure to keep in mind that TFS only publishes residual values for base vehicles. It places restrictions upon which options can be residualized, making its actual residuals lower than its published ones.

    Car_man
    Host
    Prices Paid Forum
  • Options
    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Dan. I haven't seen Toyota's specific lease program for its Denver region, but in most areas if you were to lease a 2007 Toyota Sienna XLE AWD through Toyota Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be around .00158 and 55%, respectively. The $1,250 customer cash that Toyota is providing on the Sienna in you area right now is not compatible with the special lease money factor.

    Car_man
    Host
    Prices Paid Forum
  • Options
    westtxwesttx Member Posts: 16
    Carman,

    Can you tell me the money factor and the residual for a Toyota Sienna XLE in Texas for 36 and 48 month leases with 15k miles per year?
  • Options
    cbspringscbsprings Member Posts: 12
    Carman,
    Can you tell me the money factor and the residual for a Toyota Sienna LE and XLE for 36months w/15k per year with no money down? I qualify for tier 1 credit.What should the best negotiated price be for each vehicle before I tell the dealer I want to lease the vehicle? Thanks in advance for your reply
  • Options
    lpc2007lpc2007 Member Posts: 1
    Looking to lease a 2007 Limited AWD Toyota Sienna for 36 months, 18K annual miles in Northern NJ. Any thoughts on Money Factor and Residual Value? Thanks in advance
  • Options
    minivan26minivan26 Member Posts: 1
    Maybe I am being to simple here, but how much did you(anybody) pay per month for a 2007 Sienna Le with 1 power sliding door, cloth interior lease (
    Here are the lease terms I am interested in:
    Registered in NY
    12,000 miles a year
    No money down, all payments rolled into the lease
    I was just quoted $392/month

    Thank you,
    Minivan26
  • Options
    pcgraciepcgracie Member Posts: 1
    I'm looking at the Honda Odyssey, Toyota Sienna & Chrysler T&C (I live in CT). I'm afraid to commit to buying since I've never owned a mini van, but know absolutely nothing about leasing. What are the money factor and residual, and how does that work? Sorry if this is too detailed a question, but everyone here seems so knowledgeable. Thanks!
  • Options
    westtxwesttx Member Posts: 16
    Carman,

    We are nearing a final decision on our next vehicle to lease. We are now looking at a 2007 Toyota Sienna LE, Pkg 3, with an MSRP of 29430.00 and a selling price of 26,000 in Texas. Can you estimate a payment for me on a 48 month lease with 15k miles per year?
  • Options
    lgret13lgret13 Member Posts: 21
    Are these the current residuals for a Limited in the New York/LI region? and what are the addtional bank fees that toyota charges. Dealer gave me a lease price of $630 with everything rolled into into the payment, seems way to high. Thanks.
  • Options
    conger14conger14 Member Posts: 25
    lgret13, did you get a response? I'm looking too and I got a quote today that looks good. thanks for any response
  • Options
    lgret13lgret13 Member Posts: 21
    i did not get a response, What was your quote?
  • Options
    conger14conger14 Member Posts: 25
    I got two quotes yesterday, both from the same dealer.

    Sienne LE AWD 7 Passenger w/ PKG #2AP
    MSRP-31344.00
    Sale Price-29202.00 +Tax/DMV fees
    -1250 rebate
    Final Sale 27952.00

    But if you went with lease, then no 1250 rebate so the sale price stays at 29202. The money factor on the Sienna is .00149 Tier I only. I could not get the residual value for this model.

    For the Sienna CE 7 Passenger w/ PCKG 1
    MSRP-25484.00
    Sale price-23546.00 +tax/dmv fees
    -1250 rebate
    Final sale price-22296.00

    Leasing this vehicle the sale price is still the 23546.00. I could not get residual values for this vehicle either.

    Both prices are internet only prices and I got the initial quote by using Edmunds dealer quote request. These quotes are also tied to in stock items only. I live in upstate NY and my tax is 8%. I can't find the residual value to calculate my payments.

    What offers have you received?
  • Options
    metmdxmetmdx Member Posts: 270
    Hi Car Man:
    07 Sienna XLE FWD MSRP 34,026; What are current lease factor/residual for this vehicle? Base MSRP is 33,845.
    Thanks,
    metmdx
Sign In or Register to comment.

Helpful Tools

Most popular vehicles