Last post on Nov 15, 2012 at 11:39 AM
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Toyota Corolla, Car Leasing, Sedan
#86 of 108 Toyotathon Lease -- Is it any good?
Dec 22, 2009 (2:34 pm)
Well, I found out too late about this forum; just drove off with the leased corolla yesterday. But would still like to know how is the following deal ...
Leased a Corolla 2010 LE A/T with extra value package (fully powered, cruise control, weather guard, heated outside mirrors) and floor mats; 36 Mo/36 K; Residual of nearly $11,000; Paid $1400 down and now need to make 35 payments of $200 each, which includes the GAP coverage from TFS.
Also, does any one have any experience of what happens when one turns in a leased car at the end and wants to walk away? Do they really try to nail you with even minute details and claim that it is excess wear and tear? Put another way, if I were to walk away from the leased car without a new lease or buying the leased car, how much am I looking to pay in terms of end charges? I am really worried about this since this is my first lease and I don't want to become obsessed with keeping the car clean at all times, etc.
Thanks in advance for a detailed reply on both questions!
#87 of 108 Re: Toyotathon Lease -- Is it any good? [rosca]
Jan 07, 2010 (1:57 pm)
Rosca -- looks like you may have paid a bit too much, but if you are happy with the vehicle don't worry about it. I just did a second one for less than my first one. You learn each time. Most recent one was for $147 per month (tax and all) with $1,000 college grad amount. This was for a $18,210 list price, which I negotiated to $16,358, less 750 for the lease rebate and $1,000 for the college grad. At the end of the day -- don't pay anything down when you negotiate -- it may lower your monthly -- but if you crack it up after a month or two, you are out your money down.
As for the return, I have not done one, but would not worry about it. Do a search for a 3 year old Corolla and see how many under $11K with 36K miles. Probably non. Worse case scenario you buy the vehicle -- sell it and make a grand or two,
#88 of 108 Re: Toyotathon Lease -- Is it any good? [value911]
Jan 11, 2010 (5:22 pm)
Thanks Value911: Yes, it was a learning experience for me and I hope to do a better job next time around.
#89 of 108 Re: Toyotathon Lease -- Is it any good? [value911]
Jan 19, 2010 (11:35 pm)
I'm planning to lease Corolla LE MSRP around 18150 , what is current MF and Resid. Value for a 36 month 12k lease, what would be a good price invoice/below?
#90 of 108 Re: Toyotathon Lease -- Is it any good? [mikeny]
by Car_man HOST
Feb 16, 2010 (4:02 am)
Hi mikeny. Toyota's lease program varies depending upon which one of its twelve regions one is in. Judging by the "ny" part of your username, I suspect that you are in New York. Let me know if this assumption is incorrect.
Toyota Financial Services current New York region buy rate lease money factor and residual value for a 36 month lease of a 2010 Corolla LE with 12,000 miles per year are .00050 and 65%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
While this residual value looks absolutely amazing, it is misleading. TFS places restrictions upon the options that can be residualized, making its real-world resids lower than its published percentages.
As far as what sort of selling price to pay, if I was in the market for this car right now I personally would shoot for dealer invoice or slightly over.
Prices Paid: Buying & Leasing Experiences Forum
#91 of 108 Re: Lease Money Factors and Residual Values [Car_man]
Feb 16, 2010 (7:11 pm)
I stopped by a Toyota dealer today in NYC to get a quote on a Corolla S lease. The sticker was $20655.00. The lease quote was $275.00 p/m for 36 months with only $492.00 down. The money factor used was .00050.
#92 of 108 Re: Lease Money Factors and Residual Values [carz]
Mar 03, 2010 (11:24 am)
If you are in the market for a lease deal on a corolla--do it now! I just paid yesterday Zero out of pocket no payments for 30 days at 182 a month for a loaded S that books at 21,000. My money factor was .00002--wow! That is .048 percent APR. The resid on it is 12300 in three years.
#93 of 108 Re: Lease Money Factors and Residual Values [phatsprint]
Mar 30, 2010 (7:01 am)
Could you define a loaded S? Moonroof?
I got a quote for a Corolla S for $179/mo, 15k miles/year, $0 down, all taxes/title/reg included, and a grad rebate. Is this good? Can they go lower?
the msrp is $17200
Mar 30, 2010 (7:02 am)
Also, I'm in massachusetts
#95 of 108 Re: corolla [afarsid]
Mar 30, 2010 (9:58 am)
My loaded s was $19895. I had the extra value package three, moonroof, six disk, all weather package