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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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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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Replying to: gerry10 (Jan 06, 2009 3:01 pm) TFS' residual values for this model vary by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. The 36 month, 15k residual value for any '09 Prius is 61%. The problem with this number is that TFS places restrictions upon what options can be residualized. This makes it very difficult for consumers to calculate the actual dollar residual values for specific units. It is so tricky that TFS provides dealers with lists of the actual dollar residual values for the units that they have in stock rather than relying on them to calculate them on their own. As a result, it is difficult for consumers to calculate sample lease payments for Toyota models on their own. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jan 12, 2009 3:07 am) Toyota seems to enjoy making some things complicated with purchasing a car, and this residual issue is a prime example. Anyway, I think I can at least get a close idea for a payment with your numbers. I am thinking about a 36 month 12K or 15K lease. Any idea about the residual for the 12K lease? Thank you again for the help! |
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Hello All, I am in heated negotiations with a local NC dealer on a Prius Touring Model Package 6. He has agreed to price at invoice. He claims a money factor of .00274, which is better than I had hoped, but he claims a residual of only 59% for a 36 month, 12,000 mi/year lease. That seems low. I am hoping for a residual of 62 or 63%. What is the official Totota Finance number for a Touring Model package 6 with 36 months, 12,000 mi/year? Thanks Mike
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