Last post on Nov 24, 2013 at 5:25 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Toyota RAV4, Car Leasing, SUV
#324 of 549 Dealer-to-Dealer Price
Mar 17, 2010 (1:02 pm)
I'm a dealership group manager here in NYC (non-Toyota). Heard about the ridiculous RAV4 lease program (179 per month with 1279 out of pocket) on the base model 4x4 but wasn't sure what it looked like on the Sport & Limited. Anyway, my girlfriend wanted one so I called all my Toyota friends and connections. I found out the programs: Base: 69% residual .00001 money factor; Sport/Limited 65% residual .0002 money factor. 15 years in the business and I never saw what is essentially a 0% interest rate on a lease before COUPLED WITH a subvented (artificially jacked up) residual before. But I couldn't find a RAV4 Limited V6 4x4 with NAV the way she wanted it anywhere in nearby NY/NJ/CT. Finally had a friend run a locate on one with NAV and found it in PA.
Bottom Line on top-of-the-line:
2010 Toyota RAV4 Limited V6 4x4
Limited Extra Value Package 2 (Integrated backup camera, Daytime Running Lights, power tilt/slide moonroof with sunshade, touch-screen DVD navigation system, AM/FM CD player with MP3/WMA playback capability, leather seating surfaces, 8-way adjustable power driver's seat with power lumbar support, driver and front passenger heated seats and 120V AC power outlet, Tow Prep Package)
Floor Mats & Cargo Mat
$300 per month with $500 total out of pocket (first payment and about $200 cap cost reduction)
Add NY Tax it's $326
I even added the Toyota remote start and Toyota mudguards which brought me up to $349 total per month with $500 out of pocket for the top of the line with V6 and Nav. This is a sick program and anyone who qualifies should jump on it. My car is fully loaded except for a few items I chose not to add like XM, Bluetooth handsfree, and a few other nicknacks. But even if I put EVERYTHING in there it would be hard to reach a $400 a month with $0 downpayment. Just for comparison (I was going to get this car last month, I'm glad I waited) a normal program on the $400 car I mentioned with stellar credit and $0 down is about $550. That's $150 per month saved! Way to go Toyota!
#325 of 549 Don't wanna get ripped off - I have no idea what I'm doing!
Mar 20, 2010 (5:36 am)
Okay, we got totally screwed with our last Toyota lease (2008 Matrix -$270/month, 4 year lease!). Looks like they're willing to let us out of it with no money out of our pockets and we'd like to lease the 2010 Rav 4. For base model, 4 cylinder we got the following quote from Westchester Toyota:
$179/month with $1,299 down for 36 months - 12,000 miles/year
$99/month with $2010 down for 39 months - $10,000 miles/year
10,000 miles/year seems really low, so I'm wondering what you all think of the first option. They said they couldn't tell me the residual payment over the phone -- we are definitely interested in the possibility of purchasing the vehicle at the end of the lease. What should that magic number be??????
Also, they said with excellent credit we could end up putting much less or nothing down... Sounds great, but where is that money coming from? Do they just tack it onto the end residual payment?
So confused! Please help! Also, do you all recommend GAP coverage?
#326 of 549 Re: Don't wanna get ripped off - I have no idea what I'm doing! [newbie2leasing]
Mar 20, 2010 (5:56 am)
1. - Get OUT of that Matrix deal! 2. Try for nothing down at, say <$300/month. Remember, upfront money is lost if you total the car. Also, make sure GAP insurance is included - Toyota usually charges extra for it. Also, NO turn-in charge at the end. 3. Don't worry about buying out at the end - who knows what the deals will be 3 years from now? 4. It sounds good; like they're kinda desperate - but, be ready to walk if they try to raise the price, etc. JMEVSHO.
#327 of 549 2010 RAV4 LIMITED V6 4X4 with NAV $295 with $0 down in Ohio
Mar 20, 2010 (10:35 am)
Here is my RAV4 deal in Ohio (North East- Cleveland)
$295 (includes 7.75% tax) a month with first month paid at drive off.
35 payments of $295 left to go.
3yr / 36,000 miles lease
2010 Rav4 Limited V6 4X4
Extra value package which included NAVI.
Blu Logic, Carpet floor mats
Money Factor .00002
#328 of 549 Good RAV4 Lease Deal??
Mar 21, 2010 (8:25 am)
Toyota Dealer in Boston, MA is offering:
RAV4 Base 4cyl 4WD Forest Black Pearl with Extra Value Package (17inch Wheels, Roof Rails, Privacy Glass etc); Tonneau Cover; Floor Mats
MSRP: 24,284 + 6.25% Tax
Sticker: $22000 (approx)
Money Factor: 0.00002 (0.48%)
Lease: They are offering sign and drive out the door for $0 (no fees, registration, title etc, first month payment etc) then $199/month (inc tax) for 35 Months. They are also throwing in first service 1000 miles
This includes $1000 college discount
I've done a lot of research and visited a number of dealers, but this seems like a no-brainer?
Anyone have any thoughts?
#329 of 549 Pay Taxes Upfront or monthly?
Mar 21, 2010 (10:58 am)
When negotiating a lease, should you pay taxes up front or in your monthly payments?
#330 of 549 Re: Pay Taxes Upfront or monthly? [newbie2leasing]
Mar 21, 2010 (12:21 pm)
I think you should never pay more then you have to with a lease. Say the lease is total 6000 over the 3 years. You will not benefit from paying anything up front say you put 1000 down to cover taxes up front you still end up paying 6000 over the 3 years. Yes your monthly payment is lower 1000/36 = 28 dollars less a month but that is just because you paid $1000 bucks down. And in the event the car is totaled next month then you loose the 1000 you just put down. A lease is different from a regular loan in this way. If you put 1000 dollars down payment then the total amount you financed would be less and the total interest paid would be less so there would be an advantage to say pay off taxes on a loan but not on a lease.
Hope this helps.
When compairing lease deals you need to have these figures given to you by the dealer. Don't just go by Monthly Payment.
Length and # miles in the lease: example 3yr/36,000 miles.
MSRP of the vehicle AND does this include destination charge.
Selling Price of the vehicle: Price lease is calculated on. This is the most important value and can make a big difference in your monthly payment and tot al for the entire lease. This can be negotiated just like if you were going to buy the car outright.
Cash due at signing: This should be as close to ZERO as you can get.
Tax rate for your address
Money Factor of the lease
Residual Value of the vehicle at lease end: Usually a % depending on trim level and # miles in lease. GET EXACT NUMBER from dealer and ask how they calculated it.
Acquisition Fee to lease vehicle: Toyota charges 650
Diposition fee to return if you do not buy the vehicle: Toyota Doesn't charge this
List all this or call dealer and tell them to give you ALL these figures and I can work out what your payment is and if it is a good deal or not.
#331 of 549 Re: Dealer-to-Dealer Price [big_al_nyc]
Mar 21, 2010 (3:59 pm)
How did you get this deal? I just signed a lease deal on 2010 RAV 4 Base for
275 per month including tax, registration and GAP ins with 0 money down in NJ.
36mos/36000miles. I have not picked the car yet b/c they haven't got it.
Your limited RAV4 has much higher MSRP but the payment is jus little over mine.
Is it possible to walk away from the signed contract since the vehicle has not been picked up?
#332 of 549 Re: Don't wanna get ripped off - I have no idea what I'm doing! [newbie2leasing]
Mar 21, 2010 (4:09 pm)
Does your quote on 179/month with 1,299 down from Westchester Toyota include tax, title and aquisition fee? or you have to add to the monthly payments?
#333 of 549 What is a good Lease on 2010 4x4 Base
Mar 22, 2010 (3:36 am)
For the benefit of all, do these numbers look ok for negotiating a Lease on a
Base 2010 Rav4 Base 4x4 4-cyl 4-speed Automatic ($23075)
+ EVP ($120)
+ Carpets ($199)
+ $800 dest Fee
==> Total MSRP : $24194
==> Edmunds TMV Price : $22,618
==> Incentives : - $1000 (College Credit)
Negotiated Or Sale Price = $21618
Acquisition Fee : $650
Sales Tax : $1131 (5% of $22,618)
Dealer Processing Fee : $379
GAP Insurance : $350 (I am not sure exactly)
Total Cost : $21618 + 650 + 1131 + 379 + 350 = $24128
Residual : 0.69 of MSRP = $16,694
Money Factor = 0.00001 (0.24% APR)
So, that's around $196/month with 0 money down + Title and Registration fees (which is around $250)
Does this seem right?
$196/month for 36months + 250 = $7312 (With $1000 college credit)
$179/month for 35months + $1299 = $7565 (pretty close, but this should include $1000 college credit)