Last post on Jul 10, 2013 at 1:46 PM
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Toyota Corolla, Car Leasing, Sedan
#110 of 112 Buy off-lease vehicle?
Jun 16, 2013 (1:28 pm)
Any idea of how a person can buy an off-lease vehicle for the residual value. The current 2010-2012 off-lease Corollas are priced on the dealer lots at much higher prices than the original stated residual value in the lease agreement. Has anybody had experience selling a vehicle coming off lease directly to a private party for the residual value (and perhaps some extra cash to pocket)?
#111 of 112 Re: 2013 Corolla money factor and residuals [joey135]
Jun 18, 2013 (3:44 pm)
Hi joey135. toyota's lease program varies depending upon which one of its twelve regions you are in. In most areas, Toyota Financial Services' buy rate lease money factor is a low .00001 for Tier 1+ customers.
TFS' residual values are misleading because they are only for base vehicles. It places restrictions and caps upon which options can be residualized, making it difficult for individual consumers to figure out what the dollar residual value should be for the vehicle that they want or to work up lease payments on their own. This is different than just about every other bank does it. So the 36-month, 15,000 mile per year residual value for a 2013 Corolla L is 58% for a base model. The effective residual value is something less than that.
Prices Paid: Buying & Leasing Experiences Forum
#112 of 112 2014 Toyota Corola lease
Jul 10, 2013 (1:46 pm)
Hi Car Man,
Could you tell me lease numbers (resedual, mf) for 2014 Toyota Corola for July.