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2004-2009 Toyota Prius Lease Questions

173 messages,  Last post on May 28, 2009 at 10:17 AM

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

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#91 of 173 2008 Prius Lease - Fair? by 08prius Dec 13, 2007 (7:34 pm)
Hi, I'm looking to lease a 2008 Prius Pkg 2 in SoCal. They offered $356 (+tax)/month for 36 months. 12K a year mileage and $640 drive-off. Is this fair? If not, how do I negotiate a better deal? I asked about a monthly payment of $336 (+tax) and sales person said -"not possible" I'm going in tomorrow as I've only dealt with this sales person via email/phone. I haven't told the salesperson i have a car I want to trade-in (worth about $500 trade-in). Do I try to use this as part of the drive-off or is there anyway I can use this to lower monthly payment. I'm not sure if this is a good deal or it just sounds good to me given I went to Miller Toyota in Culver City and they wanted $2000 down and $369/month for a 59 month lease (they were CRAZY)! Thanks! Replies to this message: swhitti (Dec 14, 2007 5:40 pm)
#92 of 173 Re: 2008 Prius Lease - Fair? [08prius] by swhitti Dec 14, 2007 (5:40 pm)
Replying to: 08prius (Dec 13, 2007 7:34 pm) Hi 08Prius,   I recently purchased a 2008 Prius Pkg 2 from RSM Toyota and am basically paying what you outlined, I don't remember the exact price of the car. It was the best deal that I could find at the time. They aren't any good lease deals out there for this car right now.
#93 of 173 Re: To Lease or to Buy? [pt95148] by etroup Dec 26, 2007 (1:29 pm)
Replying to: pt95148 (Dec 07, 2007 11:06 am) The hybrids may have a low residual because the batteries need replacing somewhere around 100k miles. This is one reason it is extremely difficult to justify a hybrid on pure economics. The lease numbers you see are a reflection of the accelerated depreciation that takes into account the much shorter expected lifespan of a hybrid before a major overhaul versus a conventional gas powered vehicle. If compared to a true diesel that should go 250k miles before a major overhaul, the numbers will look even worse.   This disparity is not so apparent in purchase scenario since the residual value is the purchaser's problem and not part of the financing calculation. But the finance companies are well aware of this issue and cannot hide the low residual value in a lease quote.
#94 of 173 Residuals and money factors by 500e Dec 26, 2007 (6:14 pm)
Who knows what the "buy rate" is for lease money offered to Toyota dealers for a Package 6 Prius? I have been offered .00265   Does a residual of $15,332.00 make sense for 36 months/45,000 miles? Based on MSRP plus destination, that is 54%   Someone here must have access to this information.
#95 of 173 Recent Lease by ayers976 Dec 29, 2007 (6:24 pm)
08 Prius Touring Package #6 in SoCal   Negotiated $27,122 before calling this a lease 36 mon / 45,000mi / $1980 down (cap cost reduction)   Residual: $15,332 MF: I think was 0.00205 GAP: $600   Monthly: $454 incl tax   I think the residual is set by the mfg and will only vary on the length of the lease and expected mileage. $15,332 was quoted by a few dealers I went to.   Could I have gotten a better deal? The Touring package in my color was tough to find so I was a little hasty. But I'm pretty sure I could have leased a BMW 3-series for the same price. Oh well.. the price for being green.
#96 of 173 current lease rates by tmk5 Jan 10, 2008 (3:33 pm)
I'm considering an '08 Prius Package 5 or 6. Does anyone know the current money factor that Toyota is offering (Tier 1 credit) and the residual? Not sure that it makes a difference, but I'm in SoCal. Thanks for the help. Replies to this message: f1xero (Jan 22, 2008 10:43 pm)
#97 of 173 Re: current lease rates [tmk5] by f1xero Jan 22, 2008 (10:43 pm)
Replying to: tmk5 (Jan 10, 2008 3:33 pm) the current MF for a Prius is very high. I was quoted .00305 and I have tier 1 credit.   has anyone heard anything else?
#98 of 173 Current Prius Leases - Money Factor & Residuals by stormy111 Mar 13, 2008 (11:36 pm)
I am presently looking for a Prius Touring with Package #6 in central CT. Would you know what the present money factor and residual are for 2 and 3 yr. leases? I would like less $1000 cap cost reduction and no extra miles.   Thank you.
#99 of 173 Prius Lease by stormy111 Mar 21, 2008 (4:40 pm)
Car_Guy & Kyfdx - please do your magic. You did me well on the last lease:   2008 Prius with Package #6 & Car Mats $27,884 sticker (after $2k pkg 6 credit from Toyota) No tax in CT on Prius's $1k down, 24 month lease, $16,458 residual, 12k year $625 month   It seemed high to me - I asked finance mgr. for money factor and he came up with some story about not using them anymore. I told the salesman that it is costing me $15k in payments he turned white but didn't say a word.   Thanks for the help. Replies to this message: tphssenior (Mar 22, 2008 8:01 am) stormy111 (Apr 04, 2008 8:25 pm)
#100 of 173 Re: Prius Lease [stormy111] by tphssenior Mar 22, 2008 (8:01 am)
Replying to: stormy111 (Mar 21, 2008 4:40 pm) Stormy -   Even at full MSRP the monthly payments only come to $540 on a 24 mo lease with 1K down. The base money factor, I believe, is .00245. $625 seems really high! Replies to this message: stormy111 (Apr 04, 2008 8:25 pm)

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