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Toyota Matrix Lease Questions

25 messages,  Last post on Mar 20, 2009 at 3:56 AM

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What is this discussion about? Toyota Matrix, Car Leasing, Hatchback

Messages Page 2 of 3

#11 of 25 Re: 2007 toyota matrix lease [karaj] by Car_man HOST

Apr 25, 2007 (4:00 am)

Replying to: karaj (Apr 23, 2007 2:07 pm)
Greetings Kara. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
 
If the $1,500 that you are being asked to put down is a capitalized cost reduction it will be subtracted from this car's selling price before your monthly payment is calculated. If the $1,500 is just the money that is due at lease signing, it will cover items like your car's first month's payment, security deposit, TFS $550 acquisition fee, and any required state taxes or fees.
 
The selling price that you were quoted for this car looks reasonable to me, but it wouldn't hurt to see if you can get the dealership to lower it a little. the lower your car's selling price is, the lower its lease payment will be.
 
Car_man
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Prices Paid Forum

#12 of 25 Leasing a 2008 Matrix by debbiec1953

Jan 17, 2008 (8:20 pm)

I'm new to leasing and today briefly spoke with a dealer about the 2008. He said they're having a lease deal of $189/36 mo/12,000 miles, $2199 due at signing, which is for the base model. I would want the XR automatic with moonroof and some other extras. This is in Syracuse, NY (Romano Toyota) and I would want to trade my 2002 Malibu (52200 miles, moonroof, etc. worth about $5000 according to edmunds) . I'd love some advice on how to proceed; I've read that I need to know the money factor and residual, etc., but when they already give you the "deal" being offered by Toyota is it still necessary to figure all those things? Thanks for any advice!
Debbie

#13 of 25 " Car Care Service Plan" for Matrix lease in NY by mit48

Jun 17, 2008 (11:09 am)

Hello.
 
We signed up on the lease for Toyota Matrix 09 last Saturday and are picking it up on Thursday this week.
When we signed the contract, the guy who dealt with the paper work ( not the sales guy) said to us to buy the "Car Car Service Plan" which includes:
-Lube, Oil and filter
-Clean and adjust Brakes
-Multi-Point Vehicle Inspection:for preventative maintenance
 
$600 for 3 years. Is it worth it?
He told us that this is discounted from $1000.
He also said that we SHOULD take our car to the dealer for regular maintenance to avoid possible fees at the end of lease. Is this true?
I don't see anything like that mentioned on the contract. Or is he trying to see the service package?
 
Please help!
Thank you

#14 of 25 Re: " Car Care Service Plan" for Matrix lease in NY [mit48] by karaj

Jun 17, 2008 (12:41 pm)

Replying to: mit48 (Jun 17, 2008 11:09 am)
I am not sure about a leased car - do you have to still do all the servicing?
I bought my car and purchased the pre-paid service plan for my 2007 toyota matrix for ~$600. I have to say, I love it! It really has made all the difference in my servicing the vehicle. Since the price of the service plan is spread out over my entire car payment schedule, it really only added a couple of dollars to my monthly payment. I don't have to come up with the money for the servicing every 5000 miles and I am much more willing to just call up and schedule the service. I got the premium service pack which includes replacing all the filters and such at 30,000 miles. given that this servicing alone is a couple hundred, I believe it is worth it.

#15 of 25 Re: " Car Care Service Plan" for Matrix lease in NY [mit48] by Car_man HOST

Jul 14, 2008 (3:59 am)

Replying to: mit48 (Jun 17, 2008 11:09 am)
Hi mit48. You definitely should not bother purchasing a pre-paid maintenance plan on a leased vehicle. Performing any maintenance above and beyond changing the oil and possibly rotating the tires on a leased car is a waste of money. There is no rule that you have to take your car leased car to the dealer to have it serviced. You can get the oil changed anywhere you want. Just make sure to save the receipts. This dealer is just trying to drum up more business for his dealer's service department and make money by selling you an overpriced maintenance plan.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#16 of 25 Should I lease or buy the Matrix by gowthaman

Aug 19, 2008 (11:14 am)

Hi All,
I plan to get a Matrix 2009 for myself. I am not able to decide wheather to buy or lease. Since, everyone is going hybrid i was wondering, if I buy, i may not get a good resale value in next 4 or 5 years. That is the reason for leasing option.
Folks, what is the best residual value. Internet suggests 9,500+ and the dealer is saying (just saying) it will be 11,000. Could anyone suggest me the way to go......
 
I wont be driving the vheicle everyday. Its mainly for the family use during week ends and shopping.
 
Thanks everyone.
Gowtham

#17 of 25 2009 Matrix S AWD 36mo/12K lease numbers by careyd1

Nov 01, 2008 (7:40 am)

I just leased a 2009 Matrix S today (10/31/08). 36mo/12K per year. This was from Walser Toyota-a pretty well-known 'fixed price/no negotiation' dealership chain here in the Minneapolis/St. Paul area.
 
Here is how the car is equipped:
2009 Toyota Matrix
S 4dr Hatchback AWD (2.4L 4cyl 4A)
 
   MSRP / Invoice
Base Price 20,400
(Edmunds has base price $100 higher)
SR Power Tilt and Slide Moonroof $890 $712
AA 17" Aluminum Alloy Wheels $880 $704
EV AM/FM/6CD w/6 Speakers $420 $326
Z1 Preferred Accessory Package $314 $204
SP Sport Package $270 $216
VS Vehicle Stability Control $250 $215
CL Cruise Control $250 $200
CF Floor Mats $199 $126
FE 50 State Emissions $0 $0
 
 Black Sand Pearl
Destination Charge $660 $660
(Edmunds has dest at $720)
 
Total with Options $24,219 $21,825
 
Here is the deal:
 
MSRP: 24,219
Invoice: 21,825
Selling price 21,719
 
(that selling price is their first, only and final offer-no negotiation-and is $106 bucks under invoice. I tried to negotiate anyway but they politely declined-it's against company policy) While I thought the offer was very fair, old habits die hard and I just thought I'd give it a try on negotiation! LOL.
 
Traded a 2003 G35 (35K miles-loaded-nav) as part of this lease, for $13,000, which had $2035.17 trade equity, which I used to reduce the cap cost.
 
Wrote the lease up as a 'sign and drive'. Paid absolutely zero today. Therefore, the following additional charges were included in the cap cost:
 
How the Trade Equity was used:
Cap Cost Reduction $1420.19
First Monthly Payment: $221.98
Title Fee $8.00
Registration Fees (MN) $290.00
License Fees $11.50
Doc Fee $75.00
MN CVR Fee $8.50
Acquisition Fee $650
Total: $2035.17 (trade equity)
 
Gross Capitalized Cost is 22369.00 (selling price + $650 Acquisition Fee)
Less Cap Cost Reduction 1420.19
Adjusted Cap Cost 20948.81
 
Residual Value (36 mo/12K per year) $13415 (55.39%)
 
Aside: This is one of the pain points of leasing a Toyota-residuals that are difficult to impossible to calculate without contacting the dealer about any specific car's residual due to the complex way Toyota calculates it. Note this residual (percentage-wise) is not as high as some other cars like Altima, Camry, etc. Oh well. One nice point is that I understand you can theoretically end up with some negotiable equity in the vehicle (market value vs. lease buyout price) that you can use towards your next vehicle. Anybody ever actually done that with Toyota?
 
Money Factor .00037 (Tier 1)
(this is the happy part! An incredibly low money factor due to the current programs. Equivalent to 0.89% APR)
 
Total Depreciation and Amortized amounts $7533.81
Rent Charge $457.56
Total (base of monthly payments) $7991.37
 
Monthly payment $221.98
 
I started the day at the Nissan Dealer owned by this same automotive group (same one price policies), and leased a 2009 Toyota Matrix S today. I posted those numbers in the Altima lease forum as well.
 
Yes, two new vehicles in one day! I am stepping down from two much more expensive vehicles, a 2005 BMW X5 and 2003 Infiniti G35. The X5 is at lease end and the G35 I had on a loan. Lowered my monthly out-of-pocket costs by 40% ($404) by doing this, which I believe is the right thing to do when staring into a very uncertain economy, although I have to admit, as nice as these new cars are, they just aren't quite in the same class of what I've left behind! But my budget thanks me.
 
careyd

#18 of 25 Re: 2009 Matrix S AWD 36mo/12K lease numbers [careyd1] by Car_man HOST

Nov 02, 2008 (6:49 pm)

Replying to: careyd1 (Nov 01, 2008 7:40 am)
Hi careyd1. Wow, thanks for sharing such a detailed description of your lease. If you'd like, you can hop on over to the Dealer Ratings & Reviews to share your thoughts on your recent dealer experience there as well. Enjoy your new Matrix .
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#19 of 25 Re: 2009 Matrix S AWD 36mo/12K lease numbers [Car_man] by careyd1

Nov 02, 2008 (7:08 pm)

Replying to: Car_man (Nov 02, 2008 6:49 pm)
You're welcome car_man! Thanks for all you do to keep these boards hopping.
Question, can I edit the post above? I mistyped when I said the other car I bought on 10/31 was a Matrix. It was an Altima S 2.5 w/SL Package. I did post the complete write-up on that lease over there in the Altima Lease Questions forum.
 
This was my first time with a non-negotiation dealer and I'm left wondering if I could have driven an even harder bargain at a traditional negotiation-based dealership. I hope others will post their deals here for comparison. I do think I got a pretty good deal, however I wonder just how desperate manufacturers and dealers are going to get in the coming months with the economy and how low things will go.
 
All the best,
CareyD

#20 of 25 Re: 2009 Matrix S AWD 36mo/12K lease numbers [careyd1] by Car_man HOST

Nov 04, 2008 (9:23 pm)

Replying to: careyd1 (Nov 02, 2008 7:08 pm)
No problem CareyD. Unfortunately after a fifteen minute or so window has passed users cannot edit their posts. You can always re-post the message again with the correction if you'd like.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

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