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Toyota Avalon Prices Paid and Buying Experience

1417 messages, Last post on Nov 14, 2008 at 6:14 AM
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Replying to: rpfingsten (Feb 27, 2007 4:02 am) Bob |
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Replying to: rpfingsten (Feb 27, 2007 4:02 am) Bob |
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I received lease quotes from a dealer in major metropolitan area of Ohio on both an XLS and a LTD. Options on both cars are VSC, JBL Synthesis radio, and floor mats (no Nav). The same leasing company on both (local bank) and same lease terms (length, money factor, etc.). The quote details were: XLS: MSRP $33,874 Invoice 30,378 Residual 18,969 (56%) LTD: MSRP $35,534 Invoice 32,004 Residual 18,478 (52%) I am surprised and disappointed that the residual is lower on the LTD because this naturally makes the monthly payment much higher vs that of the XLS. I assume that this is set by the bank. Any ideas about why they are doing this? Are the banks' programs for calculating residuals so detailed that they might be penalizing the LTD for lack of Nav on the assumption that most future buyers of a used LTD would want that option? Or do they believe that the LTD's additional standard equipment (over the XLS) are not worth the differential in MSRP between the two models?
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Replying to: iamknott (Mar 04, 2007 5:13 am)
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Replying to: bobwiley (Mar 04, 2007 12:01 pm) I thought about trying to find a leasing company that would use a higher residual, but then how would I marry them up with the dealer? I think the leasing company would have to evaluate the dealer and vice versa and I don't have time for that. I guess my only alternative would be to contact dealers in other cities who might deal with a different set of leasing companies. As you imply, it wouldn't be the end of the world if I ended up with the XLS.
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Replying to: iamknott (Mar 04, 2007 1:56 pm) |
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going out this week to look at used Avalons and wanted to be armed w/ the best info. I am looking at Limiteds only (memory seats are a non-negotiable option for wife) the ones i see so far on dealer websites near me are: 1) 2006, 18k mi, $28977 Certified, No nav, no laser, etc. 2) 2005, 16k mi, $27488, No nav, no laser, etc. 3) 2005, 30k mi, $26995, with nav looking for guidance on prices to shoot for, maintenance items or things to watch for, etc. thx in advance for ideas
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Replying to: 4xpy4 (Mar 07, 2007 8:28 am) Bob |
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Replying to: zebra5 (Feb 20, 2007 4:02 am) Richardson Toyota or Plano and tell them you want an avalon with out the port install options. They can get one in usaully in about 1 to 3 weeks depending on color and options. that way you don;t have to go through middle man |
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I just leased a new Avalon and this was the first time that I tried soliciting offers by e-mail. I sent e-mails to three local dealers in Columbus and to one in Cincinnati, each of whom claimed to have an "internet sales department." I told them the exact model and options I wanted as well as the lease term, miles needed, and zero down payment. I asked them to provide me with the monthly payment, money factor, residual, and fees. Two dealers never responded, one gave me just the monthly payment, and one asked me to come in for a visit, promising to be seriously aggressive in pricing. Fortunately, the last salesman was true to his word and provided me with his finance guy's worksheet which listed everything that made up their offer. I used the information from that sheet when I then visited two more dealers in person. Since I already knew the dealer invoice price, all I really needed was the dealer's money rate and residual in order to determine whether his suggested monthly payment was indicative of his desire to lease a car to me. In addition, by just asking for those two bits of information, they knew I was serious and we eliminated a lot of the b.s. from our discussions. I eventually struck a deal with the dealer who gave me the worksheet because I appreciated his openness and because nobody else could beat his price. So, what did I learn? First, contrary to what I have read in these forums about other areas of the country, in Central Ohio you can't expect to send out some e-mails and have a bunch of dealers fighting for your business overnight. Secondly, in spite of the fact that they all talk a good internet game, the dealers still want you to show up in person in order to hammer out the deal and that takes time. Finally, I am grateful for these forums. The information I gained from them helped to at least shorten those in-person meetings. |
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