Last post on Dec 04, 2013 at 11:27 AM
You are in the Toyota Camry
What is this discussion about?
Toyota Camry, Car Leasing, Sedan
#21 of 916 Re: Lease of a Toyota Camry [polo1]
Jan 07, 2006 (7:59 am)
I don't know about the payment specifics in your area, but the rate lease money factor, in my opinion, is just a way to confuse the prospective lessee. It's not nearly as mysterious as it may sound.
Here's the truth: Take the lease money factor, multiply by 2400, and you get the interest rate. So, a money factor of 0.00190 equates to an interest rate of 4.56% (0.00190 x 2400).
#22 of 916 Re: lease purchase [davidlni]
Jan 08, 2006 (10:29 am)
It's generally not a good idea to put money down on a lease. It has the benefit of reducing the payment but if the car should be wrecked (and totalled) before the end of the lease, you essentially lose whatever you put down.
Btw, the residual is always based on the MSRP, not what you actually pay for the car. Whatever price you negotiate below MSRP reduces your monthly payment.
#23 of 916 Re: lease purchase [davidlni]
Jan 16, 2006 (3:30 am)
Hi davidlni. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know this car's selling price is.
One thing that I noticed about this lease is the large down payment that you are considering making. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Camry would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all. You can still trade in your Escort is you want to, just have the dealer cut you a check for it rather than using the proceeds from it as a down payment on your lease.
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#24 of 916 how to terminate lease before the time?
Jan 25, 2006 (9:54 am)
I have leased a 2006 camry for 36 months with trade in value of $3000 down. it has been only 2 months and i am willing to buy the car because of too many restrictions with leasing. what should i do to terminate and change to buying options. please advice me the right thing to do with this situation. i thank you in advance for all your help.
#25 of 916 Re: how to terminate lease before the time? [jamu]
by kyfdx@Edmunds HOST
Jan 25, 2006 (9:59 am)
It is usually very expensive to exit or buyout a lease before the term is up... If it is your intention to eventually own the car, why not just take the lease to the end of the term, and then purchase it?.. Assuming your lease terms were decent, it shouldn't cost any more to do it that way, than to buy it out now... and, may actually be cheaper..
If you purchase the car at the end of the lease, you won't be liable for any mileage or wear and tear charges.
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#26 of 916 Re: how to terminate lease before the time? [kyfdx]
Jan 25, 2006 (10:23 am)
can i turn in the car and say i dont want this car. what are the advantage and disadvantage of getting rid of your lease completely. it has been less than 3 months of my purchase date. can i go to the dealer and tell them i dont want this car. would i be penalized for terminating the lease.
#27 of 916 Re: how to terminate lease before the time? [jamu]
by kyfdx@Edmunds HOST
Jan 25, 2006 (10:24 am)
No.. you can't turn it in before the lease is up... The penalties would be very heavy..
In your first post, it sounds like you want to keep the car.. What is the problem you have with the lease?
#28 of 916 Re: how to terminate lease before the time? [kyfdx]
Jan 31, 2006 (12:26 pm)
If jamu turns his car in before the end of the lease and not make the required payments will that be considered as a repossion? If jamu purchases the lease now he will have to pay considerably more than purchasing it new.
#29 of 916 High Mileage Leases?
Feb 24, 2006 (11:01 pm)
Does Toyota or other manufacturers have any lease programs for covering more than 15K miles per year at a lower cost than paying the 15 or 20 cent per mile mileage penalty for going over mileage or is it always better to purchase rather than lease if you are very likely to need to drive the vehicle over 15K miles per year?
I may be looking for a minimum of 20K miles per year and maybe 25K miles per year on a 2 or 3 year lease.
#30 of 916 car loan?
Feb 25, 2006 (2:21 am)
can someone please tell me if getting a loan to buy a car is useful or not. its either that or i hav to wait another three months to buy it