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Prices Paid: Buying & Leasing Experiences Toyota Camry Lease Questions
518 messages, Last post on Nov 24, 2009 at 5:16 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kazanjig (Oct 24, 2009 6:30 pm) Toyota Financial Services' current residual value for a 36 month lease of a 2010 Camry SE with 15,000 miles per year is 63%. The problem is that Toyota's published residual values are for base vehicles. It places restrictions upon what options can be residualized that make it difficult to calculate the actual dollar residual value for specific units, so much so that it provides dealers with a list of the actual dollar residuals for the units that they have in stock. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: chasva (Oct 30, 2009 2:39 pm) The problem is that Toyota's published residual values are for base vehicles. It places restrictions upon what options can be residualized that make it difficult to calculate the actual dollar residual values for specific units, so much so that it provides dealers with a list of the actual dollar residuals for the units that they have in stock. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Nov 03, 2009 2:57 am) you are correct in your info. But for an 10 SE model, for 12k miles alone, on An SE msrp of around 27400, the residual value was actually around (58.7-59%). So with 15k miles, ur easily 57 or high 56. Toyota does leasing residuals very differently, and I feel is because, they tell they you they are giving you "extra value packages" at such a discount, but really tho ur getting a deal on the options, they are getting the money back on the lower residuals. So best bet is to just lease the base models...but ehh. |
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Replying to: davidlni (Dec 26, 2005 3:04 pm) Can you please post the residual and money factor for Camry SE V6 (24 and 36 months 15k/year), I am in the Southern California Region 91789. Thanks!!!
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Replying to: Car_man (Nov 03, 2009 2:57 am) Can you please post the residual and money factor for Camry SE V6 (24 and 36 months 15k/year), I am in the Southern California Region 91789. Thanks!!! |
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I am currently in the 29th month of a 66 month lease for a Honda 2007 Pilot Ex, $353 a month. I want out, The pay off is 20,173,the residual is 10,176.I have only 12,500 miles on it.The Kelley Blue Book value is 21,500.It is leased with Huntington Bank. I am located in Florida. I prefer not to return to the Honda dealership, I want to go to a Toyota dealer and BUY a USED Toyota and have them roll the money I owe into the loan.(Will banks do this?) The Honda is to big for me and I want a monthly payment around $250/ $300 a month. I am a first time leaser, never again! I do not want to keep this Honda for 6 1/2 years, right now it is in excellent shape with very low mileage. Will a dealer want it? How long are you allowed to finance a used car? Thanks for any help!
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The Carmax in Kenosha WI is a also a Toyota dealer and thus sells new as well as used Toyotas. For a NEW 2010 Camry V-6 XLE loaded with every option available and an MSRP of $31,475.00 and a sell price of $28,528.00. They want $360/month for a lease with 0 down, 15,000 miles per year for 36 months. 1) is this a good price & 2) has ANYONE bought a NEW Toyaota from Carmax?
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Replying to: koho955 (Nov 08, 2009 4:56 pm) Buy it from who ever offers the lowest price. Warranty service is through any Toyota Dealership |
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Replying to: keepingitclean (Nov 03, 2009 6:33 pm) As I have mentioned in the past, TFS' residual value percentages are unfortunately fairly worthless. It places restrictions upon what options can be residualized, essentially making its effective residual value lower than the published percentage. Calculating the dollar residual value for vehicles is so tricky that TFS provides dealers with a list of the residuals for the actual units that they have in stock rather than relying upon them to calculate them themselves using the percentages like many other banks do. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: cinweed2 (Nov 07, 2009 6:28 am) I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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