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Toyota Sienna Lease Questions

407 messages,  Last post on Apr 19, 2013 at 5:39 AM

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What is this discussion about? Toyota Sienna, Car Leasing, Van

Messages Page 22 of 42

#206 of 407 Raleigh, NC Money Factor by 2dflyer

Nov 14, 2008 (6:04 pm)

We're shopping leases comparing an '09 Honda Odyssey EX and '09 Sienna XLE. Honda's initial offer is invoice and a 0.00191 money factor on a 36 month lease with $2000 at signing. One Toyota dealer said they could not compete and didn't even offer a quote.
 
In explaining their inability to compete the dealer said they could compete on a purchase but not a lease. This makes little sense to me. Isn't purchase price independent of lease or buy? If they should be able to something near invoice are the NC money factors so high that they can't compete?
 
What should money factors be for both Honda and Toyota in this area?
 
Thanks much,
Allan

#207 of 407 2009 Sienna Limited w/ RES AWD/FWD 36 mo 15k by 03qx

Nov 15, 2008 (10:43 pm)

Car Man, could you please give me the residuals and money factors for a 2009 Sienna Limited w/ RES in both AWD & FWD on a 36 mo 15k lease in Southern California. Thanks !!

#208 of 407 Re: What should payment be? [mkzone] by Car_man HOST

Nov 21, 2008 (3:59 am)

Replying to: mkzone (Nov 12, 2008 2:34 pm)
You're very welcome, mkzone. Yes, the .00075 money factor that I mentioned is available on all 2009 Sienna trim levels at all dealers in your state to consumers who qualify for Toyota Financial Services' top aka Tier 1+ credit tier. If your credit is in great shape, the only reason why this van's money factor would be higher is if the dealer that you are negotiating with was trying to mark it up to add additional, hidden back-end profit to your deal.
 
Car_man
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#209 of 407 Re: Raleigh, NC Money Factor [2dflyer] by Car_man HOST

Nov 21, 2008 (4:09 am)

Replying to: 2dflyer (Nov 14, 2008 6:04 pm)
Hi Allan. Honda Finance's current buy rate lease money factor for a 36 month lease of a 2009 Odyssey in your area is currently .00161 for consumers who qualify for its top aka "Super Preferred" credit tier and pay a security deposit at lease signing.
 
While I haven't seen the lease program for the 2009 Sienna in your area because you are in Toyota's Southeast region which is an independent distributorship, I suspect that the dealer was implying that lease program for the Sienna in your area is not competitive with the Odyssey's, but that he could use the cash incentives that are available in your area and a significant dealer discount to offer you an attractive purchase price.
 
Car_man
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#210 of 407 Socal Sienna in Socal by matcohen

Nov 21, 2008 (5:57 pm)

I was paying around $298 per month for my no money down (I think it was like $600 at signing - first month and security) and recently asked for a new lease as this is coming up in January.
 
Credit is 800+
 
This will be our third 3 yr lease in a row with Toyota.
 
I was quoted the high $400s because of "low residuals."
So I am considering
1) other options for a lease for a Sienna - am I getting shafted?
2) buying the car as it is in good shape. If residuals are really low, can I negotiate a lower buyback price? My guess is Toyota does not want the car.
3) Is Honda any better?
 
thanks,
 
matcohen

#211 of 407 Buy vs. Lease by skops

Nov 28, 2008 (5:38 pm)

Car Man or anyone else -
 
My question is buy vs lease -
 
2009 Sienna XLE package 4 with some other misc options. Specifics of MSRP, invoice and selling price are not critical to my question.
 
I have a lease quote of approx $520/month for 36 mos and 12k/yr with only 1st month and tags at signing. I can purchase the same vehicle with a payment of $590/month for 60 months at 2.9%. My question is, if I plan to drive the vehicle 10-12k miles per year, is there a clear cut decision to make? Historically, I have always leased and like to get a new car every three years but with the trend in lower residuals coupled with the deep discounts and low interest rates for purchasing, the monthly payment for buying and leasing has narrowed and I am now thinking that even if I buy and then decide to sell the vehicle after three or four years, I might be in a better position than leasing. Your opinion is appreciated. I have used these forums for my last two leases and I made out very well in my opinion. Thanks.

#212 of 407 Sienna LE AWD - lease parameters in Chicago by alecb2008

Dec 01, 2008 (9:19 pm)

I am looking for 12/36 lease on 2009 Toyota Sienna LE AWD in Chicago Metro area.
Any ideas on RES, MF, or anything else I need to know for lease negotiation?
Many thanks
Alec

#213 of 407 Re: Socal Sienna in Socal [matcohen] by metasequoia

Dec 06, 2008 (5:24 pm)

Replying to: matcohen (Nov 21, 2008 5:57 pm)
I got a similar deal back in January of 2006. I put $1999 down on an LE 8 seater & have been paying $280/month (36 month lease.) Now I'm getting lease quotes around $350/month. Honda is offering a better lease deal, but I do love my Sienna, especially the 3 seats in the 2nd row....
 
Anyone know of any new lease deals in the Atlantic region? (PA) I can't find any at this time...it's making me nervous because my lease is up on 1/1/09.

#214 of 407 Re: Buy vs. Lease [skops] by Car_man HOST

Dec 14, 2008 (4:08 pm)

Replying to: skops (Nov 28, 2008 5:38 pm)
Hi skops. I personally usually prefer leasing to buying as well, but in this instance I probably would finance rather than lease. For a little over 10% more you'll actually own the Sienna in a few years rather than walking away with nothing. If it was $375 or $450 vs. $590 it would be a closer race, but for me the purchase wins this one hands down.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#215 of 407 Re: Sienna LE AWD - lease parameters in Chicago [alecb2008] by Car_man HOST

Dec 14, 2008 (4:11 pm)

Replying to: alecb2008 (Dec 01, 2008 9:19 pm)
Hi alecb2008. Unfortunately, I have not seen what Toyota Financial Services' special lease money factor is for the 2009 Sienna in its Chicago region lately. I can tell you though that its current 36 month, 12,000 mile per year residual value percentage for an '09 Sienna LE AWD is 49%. Keep in mind though that TFS places restrictions upon what options can be residualized, making it difficult for individual consumers to estimate vehicles' lease payments.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

Messages Page 22 of 42

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