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Toyota Yaris: Lease Questions

12 messages,  Last post on Aug 12, 2009 at 7:42 PM

You are in the Toyota Yaris Forum. Your Host is pf_flyer

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

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#5 of 12 Re: Stupid question [jrsaccato] by Car_man HOST Jul 20, 2006 (2:03 am)
Replying to: jrsaccato (Jul 15, 2006 7:41 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 (1:08 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 Replies to this message: lhanson (Sep 21, 2006 6:21 pm) pebird (Sep 23, 2006 9:59 am) wallynmu (Apr 11, 2007 12:14 pm) kirstie_h (Apr 11, 2007 12:19 pm)
#7 of 12 Re: Is this a fair deal for a Yaris Lease? [lori1011] by lhanson Sep 21, 2006 (6:21 pm)
Replying to: lori1011 (Sep 21, 2006 1:08 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 (9:59 am)
Replying to: lori1011 (Sep 21, 2006 1:08 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 (12:14 pm)
Replying to: lori1011 (Sep 21, 2006 1:08 pm) Not great. Any lease you only deal on the monthly payment. Dont worry what other numbers they tell you. Replies to this message: kirstie_h (Apr 11, 2007 12:19 pm)
#10 of 12 Re: Is this a fair deal for a Yaris Lease? [wallynmu] by kirstie_h HOST Apr 11, 2007 (12:19 pm)
Replying to: wallynmu (Apr 11, 2007 12:14 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.
#11 of 12 yaris lease payment by oshetitzjay Aug 01, 2009 (3:13 pm)
So in May of 2008, I bought a pre owned 2007 FJ Cruiser w/ 16000 miles for around 24k plus warranty n stuff came out to around 27K. I had a $487 payment for 72 mos. A year later, i noticed that the vehicle had depreciated so much and that i was under and thought it wasn't worth it. in an attempt to get out of it, i leased a new 2009 yaris, which i am now paying $450 a month for 60 months, with $4000 down. Is there any way out of this shitty lease? I thought of posting on lease trader but who would pay $450 a month for a yaris? any insight as to how i could've done this or what i still can do? Replies to this message: canonikon (Aug 12, 2009 7:42 pm)
#12 of 12 Re: yaris lease payment [oshetitzjay] by canonikon Aug 12, 2009 (7:42 pm)
Replying to: oshetitzjay (Aug 01, 2009 3:13 pm) it's only $79/month for 60 months for the 2009 yaris. how come you're paying so much?   http://www.bayridgetoyota.com/vehicle_new.asp?v=782633

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