- #20 of 58
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Re: Toyota Venza Lease Questions [kyfdx]
by gensherman
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Jan 02, 2009 (1:09 pm)
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Replying to: kyfdx (Nov 07, 2008 3:29 am)
I have enjoyed this discussion. The Dealers are certainly not "dealing" much on Venza to my way of thinking considering the current economic environment. I just finished a TL lease (a realy fine car- but I want more trunk space.)
I am looking at a Venza (The Acura dealer has offered me a 36 month lease on 2009 TL, base model, for $90 less a month than on the Venza described below.)
I am trying to evaluate the lease offer and wonder if it would pay to purchase a lease evaluation package. I have seen them on-line for $20 to $70. Are they worth the cost and effort?
The Venza lease I am being quoted is with an adjusted cap cost of $32K, money factor of .00285, and 36 months lease payment of $649 for 6 cyl Venza with JBL SYNTHESIS SURROUND SOUND SYSTEM (EJ) and PREMIUM PKG #2 (LX)
What is a good way to evaluate this offer other than just looking at the ajusted cap cost and the money factor? Or is that all I really need to consider?
Thanks.
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- #21 of 58
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Re: Toyota Venza Lease Questions [gensherman]
by md_outback
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Jan 03, 2009 (7:53 am)
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Replying to: gensherman (Jan 02, 2009 1:09 pm)
Hey gensherman, you should be able to evaluate a lease on your own when you are equipped with the right information. For your deal, you'll need more information, including: Full MSRP of the Venza, actual selling price (price as if you were paying cash), residual percentage (percent of MSRP you would pay for the vehicle at end of 36 month lease) and the money factor. Once you have that info, use any of several on-line lease calculators to determine your monthly lease cost. Armed with that information, go back to the dealer and renegotiate. I took a rough guess at MSRP and residual, but your figure of $649/month is way too high, even if your out of pocket costs are nothing more than first month's lease payment. The dealer is likely rolling in other costs such as taxes and acquisition fee (these are typical charges), and some unknown dealer "fees." Your best bet for getting a good lease deal is to negotiate your best purchase price (dealers here in the Wash DC area are offering Venzas for $3K to $4K below MSRP) and then understand every other charge that is going into the lease fee. And always shop around for the best deal, you can always bring the best offer back to your local dealer to see if they will match it. With Toyota Financial Services, the residual % and the money factor are pretty firm and the dealer has little control over these, thus the only thing they control is the purchase price. Good luck.
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- #22 of 58
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Re: Toyota Venza Lease Questions [gensherman]
by my3rdrx
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Jan 03, 2009 (10:08 am)
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Replying to: gensherman (Jan 02, 2009 1:09 pm)
If you're interested, this is the most helpful information on how to arrive at a monthly lease payment that I've found: http://www.leaseguide.com/lease08.htm
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- #23 of 58
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Re: Toyota Venza Lease Questions [md_outback]
by Car_man HOST
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Jan 09, 2009 (2:51 am)
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Replying to: md_outback (Dec 14, 2008 5:20 pm)
No problem, md_outback.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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- #24 of 58
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Press Request
by KarenS HOST
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Jan 09, 2009 (5:24 am)
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A reporter from a large finance magazine is looking to speak to Toyota Venza owners. If you are interested in speaking with the reporter, please respond to ctalati edmunds.com with your daytime contact information by Wednesday, January 14, 2009.
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- #25 of 58
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Re: Toyota Venza Lease Questions [my3rdrx]
by gensherman
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Jan 09, 2009 (8:23 am)
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Replying to: my3rdrx (Jan 03, 2009 10:08 am)
thanks this was helpful
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- #26 of 58
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Re: Toyota Venza Lease Questions [md_outback]
by gensherman
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Jan 09, 2009 (8:27 am)
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Replying to: md_outback (Jan 03, 2009 7:53 am)
Ok, thanks.
I'll gather the info. there must be other charges not disclosed.
The quotes I have been getting do seem very high for this vehicle.
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- #27 of 58
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Re: Toyota Venza Lease Questions [my3rdrx]
by ponytrekker
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Jan 20, 2009 (4:48 am)
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Replying to: my3rdrx (Dec 22, 2008 12:55 pm)
You could lease an X5 for less.
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- #28 of 58
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Re: Venza Lease [bjgcpa]
by indianajohns
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Jan 21, 2009 (8:17 pm)
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Replying to: bjgcpa (Nov 25, 2008 6:36 pm)
I calculated the Venza lease assuming a 2,9% interest rate a residual value... That was the funniest post I've read around here in months!
When has Toyota ever had a lease rate in the 2.9% range??? 99% of the time they are at an un-leasable 7%. I would estimate an MSRP $32,000 Venza will probably lease at around $579 with zero down for 36 months.
Ridiculous considering you could buy one for $40 less per month.
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- #29 of 58
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Re: Venza Lease [indianajohns]
by md_outback
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Jan 22, 2009 (8:25 am)
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Replying to: indianajohns (Jan 21, 2009 8:17 pm)
Actually, Toyota lease rates vary quite a bit, depending on the vehicle AND the geographic region your dealer is in AND your credit rating. Could be you are in a region that can command higher rates due to local competition and other factors. In my area (Baltimore/Wash DC) I've seen money factors equating to lease rates below 2%, but these are typically on vehicles in high supply that Toyota needs to move quickly. As long as Venzas are in short supply, lease rates will be higher than on other Toyotas. This could change as supply goes up if Venzas are not moving as quickly as Toyota hopes.
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