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Prices Paid: Buying & Leasing Experiences Toyota RAV4 Lease Questions
164 messages, Last post on Sep 06, 2008 at 6:06 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
I live just outside of Philadelphia in Glenside PA - I am looking at a AWD 4 Cyl Rav4 limited (2007) - the current money factor (September) is .00205 and the residual on this model for 36 months 12,000 miles is 57%. Just trying to get a dealers best price - invoice isn't a hard and fast number and it certainly doesn't match the "invoice" price on Edmunds (Edmunds is always lower). Will report back when I get a deal.
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Replying to: aquinto (Sep 19, 2007 5:31 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Sep 20, 2007 2:12 am) Leased a 2007 RAV 4 Pacific Blue 4 Cylinder Limited 4WD - only options daytime running lights and floor mats. 36 month lease with Toyota Financial Services, 12,000 miles a year (apparently 15,000 miles a year is a 55% residual) MSRP $25,529, COST CAP (purchase price) $23,747.40, RESIDUAL $14,516.95 (57%), MONEY FACTOR .00205 (4.92%), PA lease tax 9% (on the monthly payment). Monthly payment including tax is $364.98. Up front fees 1st months payment of $364.98, acquisition fee $550 (no one would budge on this and some wanted to include it in the monthly lease payment), title $22.50, registration $36, license $10, Doc fee $55, tire fee $5, GAP insurance $200 (negotiated down from $400 - Toyota does not automatically include!), the remaining $73 dollars or so is tax on some of the above items - total out of pocket is $1,316 This was the best deal I could work out and still be married and not drive myself crazy anymore. TIPS: 1. Educate yourself on how a lease works - it is easy for dealers to move numbers around - most of them want you to say a monthly payment they will surprise surprise match it! 2. If you have any intention of getting a good deal - SHOP AROUND. 3. Dealers are more willing to negotiate if the car is on their lot rather than having to trade (example - I can walk to a Toyota dealer from my house(did not have the vehicle we wanted) but ended up buying an hour away (did have the vehicle we wanted). 4. Don't be afraid to walk out of a dealer - I did and they still get in touch with you afterwards. 5. I wasn't being unrealistic in what I wanted to pay - it became clear early on that the no one was coming close to the "invoice" price on Edmunds. I also wasn't looking to cut into dealer hold back. 6. I not only wanted a price as low as I could get but I also wanted to know how the dealer got to his numbers. 7. Overall, dealers do not appreciate an educated customer - DEL Toyota did and that is why they earned my business Let me know if there are any questions.
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Here in NY, TFS is advertising a "$2199 down/$249/mo" lease for a base FWD 4cyl. I found one as AWD and was quoted $3500 down and $389/mo! After 2 hours' haggling, I was offered a $2K down and $311/mo 36 mo. lease with 15Kmi/yr. Cheesily, TFS wanted $6/mo for gap insurance! Should I take it? I must add that this month, there seems to be very little incentive support for any vehicle like the RAV4.
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I am curious what the money factor and residual % for a 2008 Rav4 in Chicagoland Area, Illinois should be? Looking at a 36 month 15,000 mile a year lease of a 2008 Rav4 4x4 base silver with 17 in Wheels, 50 state emissions, roof rails, daytime running lights and a third row seat. Appreciate your help.
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RAV4 2008 V6 Base priced at 2730 4 year lease with a 12000 miles per year and no money down. There offer was 530 for 48 months. Is this reasonable? I live in North wales PA. Thank you very much.
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Replying to: boholano (Oct 11, 2007 11:47 pm) I think this deal is not very good. When you goto Toyota's website and build a 2008 Rav4 V6 in North Wales PA, you can not get the MSRP up to $27,300. But when you estimate payments on a lease on their website with a rav4 v6 at 26,900 you get a payment of around $383 (although you need to add in tax, but that would only be $30-$40.) Since your goal should be under msrp and $530 seems like over msrp that is not a good deal at all. (as long as your credit is good) |
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Replying to: aquinto (Sep 26, 2007 10:52 am)  . Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: verdi942 (Oct 04, 2007 5:30 pm) I am not intimately familiar with what the market is like for the RAV4 in New York at the moment, but you are in an area that has a good level of competition. If I was in the market for this vehicle in your neck of the woods, I personally would shoot for a selling price of around $500 over dealer invoice or so. Make sure to stop by the "Toyota RAV4 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar vehicles lately. As I mentioned earlier, once you arrive at a selling price that you are comfortable with have the dealer that you are working with calculate your monthly payment using Toyota Financial Services' buy rate lease money factor. I don't believe that Toyota is currently providing any lease support on the 2008 RAV in your area. As a result, if you were to lease one through TFS right now, you would have to use its standard lease money factor. This number varies slightly by region, but it should probably be around .00285 for consumers who qualify for its top credit tier right now. Toyota is providing lease support on the '07 RAV in its the New York region. Its special buy rate lease money factor for the '07 RAV4 in your area is .00204 for consumers who qualify for its top credit tier. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: friendlyleaser (Oct 09, 2007 8:33 am) The residual value for a 36 month lease of a 2008 RAV4 4WD with 15,000 miles per year is 57%. The problem with this resid is that TFS only publishes residual values for base vehicles without any options. It places restrictions upon what options can be residualized. The calculation of actual dollar residual values for vehicles that are leased through TFS is so complicated that Toyota provides its dealers with a list of the actual residual values for every unit that they have in stock rather than just having them use the percentages to calculate residual values like most other banks do. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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