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Prices Paid: Buying & Leasing Experiences 2004-2009 Toyota Prius Lease Questions
175 messages, Last post on Dec 03, 2009 at 1:54 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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. |
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| 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? | |
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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.
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Replying to: carrera993 (Jan 08, 2007 3:33 pm) Car_man Host Prices Paid Forum
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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
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Replying to: Car_man (Jan 25, 2007 4:53 am)
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Hello Car-Man, I live in Southern Indiana and I can also visit Kentucky. Could you give me the M.F. and Residual for these areas. Thanks. Addie.
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I negotiated a lease for the Prius #6 package of $430/mth at 15k/year. This lease and purchase price is 29,656.70 (after taxes and fees). This is 1000 over the dealer invoice and 1500 under the MSRP. Is this a good deal? Based on technology develop and the Prius produt life would you recommend leasing or buying? Thank you.
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Car_Man Hello. I am now ready to pull the trigger on a Prius. Could you give me the residual for FEB for the Prius Touring with the Pkg #6. I believe the M.F. for 24 months is 0.0 and 2.9 for 36 months. As you know from previous request above I live in Southern Indiana. Thanks, Addi
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Replying to: vag1 (Jan 26, 2007 6:54 pm) Car_man Host Prices Paid Forum |
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