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Prices Paid: Buying & Leasing Experiences Toyota Venza Lease Questions
58 messages, Last post on Nov 03, 2009 at 7:23 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: my3rdrx (Jan 03, 2009 10:08 am) |
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Replying to: md_outback (Jan 03, 2009 7:53 am) 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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Replying to: my3rdrx (Dec 22, 2008 12:55 pm) |
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Replying to: bjgcpa (Nov 25, 2008 6:36 pm) 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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Replying to: indianajohns (Jan 21, 2009 8:17 pm)
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Replying to: md_outback (Jan 22, 2009 8:25 am) According to this forum here are the Toyota money factors in APR form: 2009 Prius 7.08% 2009 Rav4 6.6% 2009 Corolla 3.92% 2009 Camry 3.24% 2009 Avalon 7.08% 2008 FJ Cruiser 6% (info from 09/07 2009 Highlander 7.08% 2008 Matrix 6.84% (from 04/07) 2008 Sequioa 2.016% (from 08/08) Low money factor because residual was 46% 2009 Sienna 1.8% (45% residual) 2009 Venza 7.08% My first point is 7 of the 11 are over 6%. The low money factors are low just to compensate for low residual so they can move cars. Historically, even the low ones were 5-7% before their residual values tanked. My second point is Toyota's standard money factor for Tier 1+ credit is 7.08%!! What is their Tier 2??? Don't want to even think about it. Yes, they do occasionally lower them here and there to move cars and to try to match the competition's lease rates but to have a standard lease rate of over 7% is laughable to me. In my opinion, I don't think it is financially beneficial to lease any car if the lease rate is over 4% (0.00167). Might as well buy it.
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Replying to: stoopy (Jan 22, 2009 3:47 pm)  My point was that Toyota lease factors have often been competitive when taken into context of the overall market. When a new model first comes out, the lease rate will be high. When they have a huge supply of a vehicle, the rate will come down. When it's late in a model year, the rate comes down. When they are trying to move more Camrys so they can say they outsold Honda Accords, the rates are better - for Camrys anyway. Toyota is a smart company and they recognize that in today's financial environment, leasing is a risky business, especially with a brand new vehicle. Who can predict what anything will be worth 3 years from now? So their response is to stay on the safe side and offer higher lease rates and/or lower residiuals for a while. However, if they find that Venzas are moving too slowly because no one has the cash for a $35K car, they will massage the lease numbers cautiously to drive up demand. Toyota, like nearly every car manufacturer is struggling right now and they face difficult decisions: Do they take measures to increase demand by lowering profit (i.e. reduced lease rates), hoping it results in enough increased sales to justify, or do they keep a reasonable unit profit at the risk of overall lower sales, meaning plant shut downs and layoffs. Toyota still has a strong balance sheet with around $100 billion in net assets and will continue leasing. Other firms like GM (with more than negative $60 billion in net assets) can no longer afford the uncertainty of leasing.
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Replying to: md_outback (Jan 23, 2009 9:53 am) |
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Replying to: md_outback (Jan 03, 2009 7:53 am) I have a lease offer for Venza 6cyl FWD, with adjusted cap cost of $29,740.00; money factor of .00275. Cap cost is dealers invoice, plus destination charge, minus holdback. Lease is for 36 month, 25k miles per year for $648.83/month. This still seems high to me even with the extra yearly milage. So far she has not given me a residual figure but I figure this lease should be around $540/ month. Am I way off the mark? Thanks for your thoughts and ideas.
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Replying to: gensherman (Jan 29, 2009 1:58 pm) Do you think $650 a month on a 3 year lease is a TAD high??? You could PURCHASE this car at $30K, 60 months for $579 per month. $497 for 72 months. So, yes $650 is very ridiculous even with the extra mileage. Why would you not just buy it anyway if you are going to put so many miles on it? |
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