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Prices Paid: Buying & Leasing Experiences 2004-2009 Toyota Prius Lease Questions
174 messages, Last post on Sep 09, 2009 at 6:55 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hello, I've never leased a car before, but have been offered a package #6 Prius, the darker grey, for MSRP of $28,300. With taxes etc in California it is around $31,000. This car has been found thru car broker in LA at car dealership in Sacramento, so I'd probably pay a delivery fee of $375. I have a credit rating of 841. The lease involves: putting $1000 down 36 months 15,000 miles $538/month residual: $14,900. In contrast, purchase would be $3000 down 60 month loan thru Toyota at 6.29% (seems high) $550/month. Any advice from you knowledgeable folks? Need it soon. Thanks, Katherine
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Replying to: kmader (Jun 23, 2008 8:55 am) As someone who always had leather seats I love the cloth interior of these. if you can save $ I highly recommend it, esp as I didn't have to burn my a** during this last heatwave.. Factoring in your down/delivery that is about 575 a month total which if it includes taxes is probably par for the course these days. However I am sensing a backlash against the dealers who have been marking up the prices and claiming there's a 3 month waitlist....I get 3 calls a day about one that "just happened to come in". Good luck - I'm stoked with mine! |
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Replying to: kmader (Jun 23, 2008 8:55 am) Package 2 $22,900 3 year lease with 12,000 miles Nothing down except drive off of first month's payment and license (I think it came to a total of $646.) Residual -- $13,900 Total monthly payment including taxes $419. They really stuck it to me on the money factor -- I think it was .00323. My FICO is 844. Two weeks earlier, I could have gotten it for $379. SoCal is using "scare tactic" of "running out of cars, better hurry up because Toyota has stopped production, some dealers are charging $5,000 premiums, etc." Plus, they are taking #2s and tricking them out and then charging $28,000+ for them. Don't fall for it. If you don't bite, they'll call you back in a couple of weeks with, "I just got a car in . . . " Good luck. I love my car. Curious -- What are you paying the broker? |
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I am paying the broker $700. For me it's been worth it. He's an older man who bought his own Prius, had a horrible experience at a dealership, and decided he could be the middleman for others to avoid what he went through. He has contacts with dozens of dealers; I haven't had to set foot in a dealership. He has called over the last several weeks with possible Prius' that were either the wrong color or had something extra added that I didn't want. He put me in contact with dealership in Sacramento where I had risen to the top of their list for buying a package 6 for MSRP, and the car is supposed to be on the ocean, arriving in the next week or two. It will be delivered to my driveway. So the decision I have to make in the next couple of days is whether to buy or lease. Thanks for all your good info. I feel more comfortable with the lease decision I think. Katherine |
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So why would anyone lease a Prius right now? Now before you jump on me, I'm not saying this because I think the Prius is a bad car. I'm saying this because you can look on used car sites and see two and three year old Priuses selling for close to what a new one goes for, yet the residual values assigned to them in the lease programs are far below Infiniti, Acura, etc? If a three year old Prius is selling for near what a new one goes for, shouldn't the lease cost next to nothing? Yet people are paying upwards of $300/mo! Makes no sense. |
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OK, here is my scenario. I have a 2005 Package #6 Prius on a 48 month lease. The lease is due March 2009. Yes, I know I shouldn’t have leased it but at that time gas wasn’t quite $2 yet. The residual value (payoff) is $9750. I only have 44,000 miles on it and will be way under the mileage restriction of 15K/year. The Blue Book value on this car is around $21000 if selling to a private party. Is it possible for me to go ahead and buy it out early from Toyota and then turn around and sell it to a private party? I am not planning on getting another Toyota so going to the dealership and working out something for a new Toyota is not an option.
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Replying to: flagg2 (Aug 11, 2008 7:46 am) You can definitely contact the bank and get a pay-off amount. Once you pay it off, the car is yours and you will be free to sell it for a profit. You don't have to involve the dealer at all. It's between you and the bank at this point. Hope this helps! |
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Replying to: flagg2 (Aug 11, 2008 7:46 am) If you've still got 6 payments to go... figure another $2000 or so on the payoff.. It might be $12.5K by the time you get title to the car.. |
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Hi, Has anyone recently leased a Prius in the tri-state area ? Any ballparks on a low-mileage lease for a Touring with Package 3 ? Thanks, Aks |
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Does anyone have the Toyota money factors for the 2009 Toyota Prius Option #5 and Option #6 for the month of January that would be great. I'll also need the residual percentage please. Thank you very much for the help.
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