Last post on Jul 10, 2013 at 1:46 PM
You are in the Toyota Corolla
What is this discussion about?
Toyota Corolla, Car Leasing, Sedan
Sep 21, 2009 (9:14 am)
Could someone please provide the MF and residual for a 2010 Corolla LE lease? I am interested in the basic 1838 model that is available for $189/month with $839 down.
#78 of 112 Lease Details on Corolla S in SF Bay Area
Oct 06, 2009 (12:54 am)
We leased a Corolla S, 5-spd Manual transmission with Leather using the special Lease from Toyota Financial:
MSRP - $19,425
Cap Cost - $18,864
MF - 0.00038
Term - 36 months
Cap Cost Reduction - $2,180
Residual - $11,223 with 12k miles
Monthly Payment - $199.58 ($181.85 + tax)
Total Drive-off - $2,995 (includes DMV - $304, Tax on Cap Reduction - $212.52, 1st month's payment - $199.58 + Doc Fee + CA Tire Fee)
We applied the same terms to the Corolla S as with the ad car on Toyota's Website which was the base Corolla LE being offered at $119 per month with $2,999 drive-off. The MF was the lowest that I have seen. There is only about $10 going towards the rental charge; the rest is depreciation. If we had gone with 0 Cap Cost Reduction, the payment would have been $267 with around $800 Drive-off.
If the MF was not subsidized by Toyota Financial, the payment would have been higher by at least $45 per month.
#79 of 112 October 2009 Lease Terms for 2010 Corolla
Oct 28, 2009 (6:59 am)
What should the money factor and residual be for a 2010 Corolla LE for the current lease specials they are running?
#80 of 112 Lease Money Factors and Residual Values
Oct 28, 2009 (12:11 pm)
Hello CarMan or kyfdx,
I am looking for information for a 2010 Corolla LE for a 36 or 39 month lease. I was told that money factor is .0028 and the residual is .70 by Clearwater Toyota. They use Southeast Toyota Finance. These numbers do not sound right to me. Based on the advertised lease special it seems that the money factors should be .00039 - .00050. The residual should be 0.60 - 0.68.
#81 of 112 Re: Lease Details on Corolla S in SF Bay Area [zaheer]
Nov 03, 2009 (3:03 am)
Congratulations on getting your new Corolla, zaheer. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always helpful for people who are in the market for similar vehicles.
If you haven't already, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.
Thanks again and enjoy your new ride!
Prices Paid: Buying & Leasing Experiences Forum
#82 of 112 Re: Lease Money Factors and Residual Values [christostp]
Nov 03, 2009 (3:09 am)
Hi christostp. The problem is that dealers in your area you are forced to deal with Southeast Toyota, which is an independent distributor rather than with Toyota directly like dealers in most of the rest of the country. SE Toyota is essentially a middleman that helped Toyota sell vehicles in the U.S. when it first arrived here. It now controls the rights to sell Toyota vehicles in the Southeastern United States even though Toyota no longer needs them. SE Toyota usually tacks on all sorts of annoying fees to deals and it forces consumers to lease through its own personal captive finance company rather than Toyota Financial Services, which is what consumers in the rest of the country use.
Unfortunately, I do not know exactly what the details of SE Toyota Finance's current lease program are, but I would not be surprised in the least if its money factors were higher than the .00050 or so that Toyota is using in other parts of the country.
Prices Paid: Buying & Leasing Experiences Forum
#83 of 112 Just leased
Dec 04, 2009 (2:53 pm)
Leased yesterday 2010 corolla LE. $135 a month $3000.00 down everything included. 36 months 12000 miles .15 after. I think it is really a good deal. I have shopped around for like 1 month, tried Civic and Sentra, they are really expensive.
This is really good looking car. But I paid less so couldn't pick my fav color. I got a red toyota. But it looks nice. No regrets....
One question...should I take GAP insurance??? Its gonna cost me $600.00.
#84 of 112 Leased, ready to do another one -- advice requested
Dec 14, 2009 (10:15 pm)
Below is the calculations on my most recent lease. Any advice in terms of what I can do better? Need to do another lease for another child of mine. Appreciate any feedback. Probably going to wait until January 2 in order not to pay property tax in my state. End of the day I am at $103mo with tax after after a $2,700 trade.
PS -- Why do we pay tax on the rebate, especially when the rebate is basically fronting the acquisition fee?
Capital Cost Figure $14,056.00
DEALER REBATE ON LEASE $(750.00)
Less Trade In $(2,700.00)
Acquisition Fee $650.00
Document Prep Fee $85.00
Net Cap Cost $14,056.00
3YR depreciation percentage
RESIDUAL VALUE $10,988.00
Term period 3 year 36
Term period 3 year interest rate-Money Factor 0.00050
Cap + Residual $25,044.00
Deprecitiation expense $85.22
Total Base Payment $97.74
Sales Tax 6.325% $6.18
Total w/Sales Tax $103.93
License Fee $79.00
Tax on Rebate - 750 $47.44
1st Month $103.93
Total Out of Pocket $230.36
#85 of 112 Re: Just leased [mikeanwa]
Dec 14, 2009 (10:17 pm)
Yes you want GAP -- unless you want to roll the dice and assume no accident over the next few years. My gap is only $5/mo. You may want to call your insurance agent.