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2004-2009 Toyota Prius Lease Questions

175 messages,  Last post on Dec 03, 2009 at 1:54 AM

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What is this discussion about? Toyota Prius, Hybrid Cars, Car Leasing, Sedan

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#4 of 175 prius lease? by dfrank1 Mar 29, 2006 (7:49 pm)
I was just wondering what Prius' are typically leasing for. I got a quote today that was $590 a month (for 36 months) with 0 down, $570 with $1000 down. this is for a new prius with package 7, with an MSRP of $28,221. That quote seems ridiculously high. Any input would be appreciated, thanks!
#5 of 175 PRIUS LEASE by bookiebob May 10, 2006 (4:16 am)
HELLO. WOULD YOU BE ABLE TO GIVE ME LEASE FIGURES?? A '06 PRIUS WITH A $23,232 PRICE TAG, 48 MONTH LEASE AND WITH NO MONEY DOWN. I HAVE AN 800 CREDIT SCORE. WHAT WOULD THE MONTHLY PAYMENTS BE,ALSO, AND WHAT SHOULD THE RESIDUAL VALUE BE AT THE END OF THE LEASE? WHAT WOULD BE THE LEASE/MONEY FACTOR?   ALSO, WHAT IS THE EXACT DOLLAR AMOUNT THAT WOULD BE FINANCED DURING THE TERM OF THE LEASE? IT IS MY UNDERSTANDING THAT BASED ON THE ABOVE CAR INFO, THAT IF THE ABOVE CAR HAD A RESIDUAL OF $11,000 AFTER 48 MONTHS, MY ACTUAL FINANCING AMOUNT WOULD BE $12,232, PLUS INTEREST. IS THIS TRUE? OR IS THERE ANOTHER FORMULA THAT'S BEING USED??   IT'S APPEARS THAT SOME OF THE FIGURES I HAVE BEEN GETTING HAS ME PAYING MORE INTEREST ON A 4 YEAR LEASE THAN INTEREST ON A 4 YEAR PURCHASE. I'M STILL SCRATCHING MY HEAD ON THAT ONE!!!   AND IF I MAY, WHO ACTUALLY OWNS THE CAR/LEASE?? THE LEASING COMPANY OR THE DEALERSHIP?? WHO GET'S TO KEEP THE MONTHLY CHECK?? IF THE LEASING COMPANY OWNS THE CAR, AT WHAT RATE COMPARED TO MSRP DO THEY PAY FOR THE CAR?   THANKS FOR YOUR HELP   BOOKIEBOB Replies to this message: theking (May 10, 2006 7:12 pm)
#6 of 175 Re: PRIUS LEASE [bookiebob] by theking May 10, 2006 (7:12 pm)
Replying to: bookiebob (May 10, 2006 4:16 am) Please do not use all capitals...it is the equal of you shouting !!!!
#7 of 175 2006 Prius Lease by echiu Jun 02, 2006 (7:50 am)
Hi Car Man,   I have a new Prius coming in tomorrow (6/3). I am wondering what sort of lease rate (money factor and residual) I can get from Toyota on this car. I am thinking of leasing it for 3 years/36,000 miles. Also, do you know the cost per additional mile beyond 36,000?   Thanks,   -Eric Replies to this message: Car_man (Jun 25, 2006 8:44 am)
#8 of 175 Re: 2006 Prius Lease [echiu] by Car_man HOST Jun 25, 2006 (8:44 am)
Replying to: echiu (Jun 02, 2006 7:50 am) Hi Eric. As one might imagine with a car that gets great gas mileage in an environment with very high gas prices, Toyota is not currently providing any sort of lease support on the Prius. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. Its current buy rate standard lease money factor by vary a little bit from area to area, but it should be around .00265 for any length lease for consumers who qualify for its Tier 1+ credit tier. TFS' 36 month, 12,000 mile per year residual value for the '06 Prius was 57% the last time that I saw it. I believe that TFS charges something like $0.15 per mile over one's allowed mileage. If you opt to lease with 15,000 miles per year, your Prius' residual value would be 2% lower. You can purchase additional miles, over 15,000 per year, at lease signing at the reduced rate of $0.10.   Car_man Host Prices Paid Forums
#9 of 175 Low Residual Value by ggibson1 Jul 06, 2006 (7:03 pm)
The residual value I have seen on a 36 month lease in my area on a 2006 Prius with Package #8 and 12k annual miles is $13,200...well below 50% of the $29,000 purchase price. This is from more than one dealer.   The low residual is probably why the monthly lease rates are high. On the other hand, with the low residual, you may actually build a small amount of equity in the car if you flip at lease end...but you are buying this equity with the higher monthly fee.
#10 of 175 Low Residual by brydge Jul 07, 2006 (5:52 am)
I've recently contacted about a dozen dealers in Virginia and am consistently seeing residual values for a 36-month, 12,000 mile lease on a 2006 Prius Package #8 around 48.5%. When I pressed the dealers about the large disconnect between this residual value and current 2-3 year old Prius's selling for 75%-85% of their original MSRP they didn't have an answer other than the canned, "Toyota sets the residual and market demand sets the resale price". To me, Toyota is saying their product isn't worth anything near current resale values. Assuming you have decent credit, the 48.5% residual puts the lease payments pretty close to financing an outright purchase; and if you purchase you can sell at anytime and get any equity out of the car, versus leasing and having to wait until the end of the lease term. I'm trying to find some leasing companies to talk to directly to see if they offer better terms than Toyota Motor Credit; does anyone have any suggestions?
#11 of 175 Leasing experiences? by carrera993 Jan 08, 2007 (3:33 pm)
Hi, new to this Prius board. Looking back the previous "leasing" post was back in July 2006, and not much Prius leasing data seems available anywhere (PriusChat included). Is this due to the lack of lease support from Toyota, or are most folks just buying their cars? I'd like to crunch the numbers on a 3 yr lease, but don't have residual, MF data to work with. Replies to this message: Car_man (Jan 25, 2007 4:53 am) carrera993 (Jan 26, 2007 9:40 pm) Car_man (Feb 13, 2007 2:57 am)
#12 of 175 Re: Leasing experiences? [carrera993] by Car_man HOST Jan 25, 2007 (4:53 am)
Replying to: carrera993 (Jan 08, 2007 3:33 pm) Welcome carrera993. Historically, Toyota has not provided any sort of support on the Prius, but it has been slowly introducing special programs on it lately. It is now providing special financing rates and special lease money factors on the 2007 Prius in many areas. Toyota's lease program often varies by region. If you tell me what state you are in I may be able to give you an idea of what this car's current money factor and residual value should be like in your area.   Car_man Host Prices Paid Forum Replies to this message: carrera993 (Jan 26, 2007 9:40 pm) Car_man (Feb 13, 2007 2:57 am)
#13 of 175 lease offer in jan07 by vag1 Jan 26, 2007 (6:54 pm)
hello i am being offered lease of 2007 touring model with package#6 at $ 438 per month for 36 months, 15k miles per year. and $2000 down. any comments on this offer.   vag1 Replies to this message: Car_man (Feb 13, 2007 2:54 am)

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