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Toyota Yaris Lease Questions

12 messages,  Last post on Aug 12, 2009 at 8:42 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Toyota Yaris, Car Leasing, Car Buying, Hatchback, Sedan

Messages Page 1 of 2

#1 of 12 Toyota Yaris: Lease Questions by Car_man HOST

May 03, 2006 (2:56 am)

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Toyota Yaris. Thanks.
 
Car_man
Host
Smart Shopper / Prices Paid Forums

#2 of 12 Yaris Lease Numbers by mrcheap666

Jul 11, 2006 (10:03 am)

Hey Car_man,
 
I wanted to get the MF and residuals for leasing a Yaris 2Dr Hatch AT, as well as the 4dr S level Sedan AT.
 
I'm in Houston, TX and would need a lease for 24mths, with 15,000 miles/year.
 
Thanks
MrCheap666

#3 of 12 Stupid question by jrsaccato

Jul 15, 2006 (8:41 pm)

When you lease a car do you have to purchase comprehensive insurance too?

#4 of 12 Re: Yaris Lease Numbers [mrcheap666] by Car_man HOST

Jul 20, 2006 (3:02 am)

Replying to: mrcheap666 (Jul 11, 2006 10:03 am)
Greetings mrcheap666. Toyota is not currently providing any sort of lease support on the Yaris. As a result, if you were to lease one through Toyota Financial Services right now you would have to use its standard lease money factor. Its standard lease money factors vary depending by region, but its buy rate standard factor should currently be around .00265 for consumers who qualify for its Tier 1+ credit tier. Toyota Financial Services current buy rate lease money factor for a 24 month, 15,000 mile per year lease of any 2007 Yaris is 59%.
 
Car_man
Host
Prices Paid Forum

#5 of 12 Re: Stupid question [jrsaccato] by Car_man HOST

Jul 20, 2006 (3:03 am)

Replying to: jrsaccato (Jul 15, 2006 8:41 pm)
Hi jrsaccato. Banks that lease vehicles usually do require consumers to have certain levels of insurance coverage. The exact level of required coverage varies from bank to bank.
 
Car_man
Host
Prices Paid Forum

#6 of 12 Is this a fair deal for a Yaris Lease? by lori1011

Sep 21, 2006 (2:08 pm)

Hi there. I'm looking for peace of mind, and your blessing or comments on the lease deal I'm being offered would help a lot.
 
New 2007 Yaris Hatchback, Automatic, ABS Brakes, Keyless Remote, Power Package, Floor Mats.
 
Here are the numbers:
 
MSRP: $12,335.
Max Advance Adjustments: $14,420.00
BaseValue MSRP: $11,850.00
Residual Value: (59%): $6,991.50
Residual Value Adjustments: $625.
Annual Miles: 12,000
Mileasge Adjustment: +2%= 237
Adjusted Residual Value: $7,853.50
 
CustomerCash Down: $1,000.00
Total Cash / Rebate Equity: $1,000.00
Inception Fees: $657.95
Excess Cash / Rebate / Equity: $342.05
_______________
 
Selling Price: $14,420.00
Assignment Fee: $400.
 
Payment Recap:
36 months at $246.29 + 9.00% = $268.45
 
?? Is this a good deal? Or are some of those line items "fluff" or inflated numbers that I can negotiate out or reduce.
 
Looking forward to your reply,
 
Yourfuture Yaris Slave Girl

#7 of 12 Re: Is this a fair deal for a Yaris Lease? [lori1011] by lhanson

Sep 21, 2006 (7:21 pm)

Replying to: lori1011 (Sep 21, 2006 2:08 pm)
I don't know anything about leases, but I don't think that any of the options you have listed would be considered to be fluff items. They are all factory Toyota installed options. I think that the MSRP a lot more than $12,335. The $14,420 sounds about right.

#8 of 12 Re: Is this a fair deal for a Yaris Lease? [lori1011] by pebird

Sep 23, 2006 (10:59 am)

Replying to: lori1011 (Sep 21, 2006 2:08 pm)
YSG:
 
I calculated the power package combo you selected (w/ABS) at $1,700 - price of $14,420 - 620 delivery - 11,950 Yaris Auto - 150 floor mats). I don't know if that is the right price for that combo package, can't find it on Toyota's site (haven't guessed the right zip code yet).
 
Some good info on leasing can be found at:
 
www.leaseguide.com, www.carbuyingtips.com, and www.fightingchance.com. The Fighting Chance folks will sell you a service for $35 that includes their help on the phone (bring your cell) while you are at the dealer reviewing the paperwork, they will tell you what money factor and residual you should be getting.
 
If you want an Excel sheet to try out different numbers, try the worksheet at www.carbuyingtips.com/regm.xls.
 
I've plugged these numbers into my spreadsheet:
 
Cap Cost: $14,420
Lease Acquisition: $400
Gross Cap Cost: $14,820
Lessee Cap Reduction: $342.05
Residual: $7.853.50 (which is 55.3% of $14,420)
Term: 36 months
Money Factor: .00279 (equivalent to about 6.7% APR)
Monthly Payment (before tax): 246.32
 
So, your payment of $246.29 looks about right.
 
But if you really were to get a residual of 59% - 8507.80 (I don't have the black book of residuals, and it's kind of a guess anyway), you would have a monthly payment (before tax) of $229.97. Might be worth finding out what the Yaris 3 year residual rate is (not public knowledge).
 
I assume your 9.0% is your sales tax rate.
 
Remember that when you lease a car you pay the 1st month's payment and title fees up front. Also, you pay sales tax on any cap reduction ("down payment") you make.
 
But, what about the $1,000? What is in that? Well, it includes your cap reduction ("down payment"), the first payment (including sales tax), estimated registration/title fees and security deposit. Lets assume registration fees of $200, I come up with out-of-pocket of about $841 (342.50 cap reduction, 30.78 sales tax on cap reduction, 1st payment of 268.45 and registration of 200). So the dealer is adding on "fluff" fees of about $160 (or more, depending on what registration fees are).
 
Sorry for the long note - but a lot of dealers mess around with little charges here and there and will lie to your face about it being a state fee, or this or that, especially with leases, since they don't have to disclose the money factor and residuals are hard to get.
 
Good luck.

#9 of 12 Re: Is this a fair deal for a Yaris Lease? [lori1011] by wallynmu

Apr 11, 2007 (1:14 pm)

Replying to: lori1011 (Sep 21, 2006 2:08 pm)
Not great. Any lease you only deal on the monthly payment. Dont worry what other numbers they tell you.

#10 of 12 Re: Is this a fair deal for a Yaris Lease? [wallynmu] by kirstie_h HOST

Apr 11, 2007 (1:19 pm)

Replying to: wallynmu (Apr 11, 2007 1:14 pm)
IMO, you've just given very bad advice. Members can decide for themselves, but this is contrary to almost every other bit of advice offered.

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