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Toyota Corolla: Lease Questions

83 messages,  Last post on Dec 04, 2009 at 2:53 PM

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What is this discussion about? Toyota Corolla, Car Leasing, Sedan

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#78 of 83 Lease Details on Corolla S in SF Bay Area by zaheer 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. Replies to this message: Car_man (Nov 03, 2009 3:03 am)
#79 of 83 October 2009 Lease Terms for 2010 Corolla by christostp Oct 28, 2009 (6:59 am)
Hello Carman,   What should the money factor and residual be for a 2010 Corolla LE for the current lease specials they are running?
#80 of 83 Lease Money Factors and Residual Values by christostp 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. Replies to this message: Car_man (Nov 03, 2009 3:09 am)
#81 of 83 Re: Lease Details on Corolla S in SF Bay Area [zaheer] by Car_man HOST Nov 03, 2009 (3:03 am)
Replying to: zaheer (Oct 06, 2009 12:54 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!   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#82 of 83 Re: Lease Money Factors and Residual Values [christostp] by Car_man HOST Nov 03, 2009 (3:09 am)
Replying to: christostp (Oct 28, 2009 12:11 pm) 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.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#83 of 83 Just leased by mikeanwa 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.

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