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Toyota Prius Lease Questions

390 messages,  Last post on May 11, 2013 at 1:53 PM

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

    

Messages Page 17 of 40

#159 of 390 Re: Residual [linhtwu] by Car_man HOST

Jun 16, 2010 (3:31 am)

Replying to: linhtwu (Jun 03, 2010 10:35 pm)
Hi linhtwu. The Prius' money factor varies by region. Toyota Financial Services' residual value for a 36 month lease of a 2010 Prius with 15,000 miles per year is 68%. The problem is that this is for a base model. TFS places restrictions upon what options can be residualized, making it difficult for consumers to work up sample payments on specific units on their own.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#160 of 390 Re: Carman, what are the #'s for a Prius IV in South Carolina [evahnulahm] by Car_man HOST

Jun 16, 2010 (3:32 am)

Replying to: evahnulahm (Jun 12, 2010 7:27 am)
Hi evahnulahm. SE Toyota Finance's current buy rate lease money factor for the 2010 Prius is .00152. Please see my previous post for a description of the problems with trying to figure out this car's residual values.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#161 of 390 Re: PLEASE HELP - Is this a good deal in VA? [19vt95] by 19vt95

Jun 16, 2010 (5:07 am)

Replying to: 19vt95 (Jun 06, 2010 9:13 am)
car man - Can you please help me with post #155? Thanks.

#162 of 390 Prius IV by evahnulahm

Jun 16, 2010 (5:33 am)

Hey everyone, here is what I am looking at. A Prius IV with just mats(399), tint(399) and bumper appliqué(99) that has the following stats
 
MSRP 28,272
 
Negotiated Price 25,782
 
MF .00152 (SET MF is not nearly as good as elsewhere)
 
Residual 58% plus 2400 residual assistance = 18,798
 
I am paying the tax, tag, first month and doc fee so no other costs should be included in the lease payment for a total of 300+59+289+261.76= $909.76
 
Monthly Payment I am getting is 261.76 for a 36 month 12K miles per year lease. Problem is the dealer is quoting 296.69.
 
Can anyone explain to me where they could possibly be getting this number? I verified that we have the same residual and MF for my calculation as well as the dealers.

#163 of 390 Just signed by evahnulahm

Jun 16, 2010 (1:02 pm)

Ok, after going through the ringer of not showing me their calculations and numbers for a week I finally got fed up and went to another local dealer. I was leaving out the acquisition fee from the previous calculations and with that figured in everything works out.
 
In 15 minutes I had the price I wanted and everything explained to my satisfaction.
 
Here is what I got
Prius IV in Barcelona Red with Bisque interior with mats, tint and bumper guard.
36 Month Lease with 12K miles.
 
MSRP 28,272
  
Negotiated Price 25,782
  
MF .00152 (SET MF is not nearly as good as elsewhere)
  
Residual 58% plus 2400 residual assistance = 18,798
  
I am paying 950 out of pocket to cover tax, tag, title, doc fee etc.
 
Payment for 35 more months is 284 per month.
 
I feel like I got a fair deal so I am happy, especially since the car had to be retrieved from another dealer as the red with bisque was nowhere to be found locally the way I wanted it.

#164 of 390 Prius III/IV? by lrtucker9

Jun 19, 2010 (9:44 pm)

I have combed through this Prius blog entry by entry; however, does anyone have an accurate "lease payment calculator"?
 
I'm looking at the following 2010 Prius III:
.00075 MF
16,184 Residual
24,800 MSRP
 
When plugging in the monthly figures for the previous posts, I'm not generating a similar figure.
 
Would also appreciate any feedback for someone who has leased a Prius in the Dallas area.

#165 of 390 Evaluate My Deal, Please! by bruin19

Jun 20, 2010 (1:47 am)

Replying to: gs451 (Apr 03, 2010 10:13 pm)
Dear Prius Gurus, I'm looking for honest opinions on the deal I just signed in So. California (I'm losing sleep over this and just need to know if it's good or not to ease my mind!):
 
2010 Prius III (Black, Grey Interior, Cloth Seats, Navigation Package)
 
Total Agreed Upon Value (Sale Price): $24,646
Acquisition ($650) Doc Prep ($45) CA Tire ($8.75) DMV eFiling ($29)
Residual: $16,333
MF: .00075 (1.80%)
 
I had about $2,200 in Negative Equity from my trade-in (an '08 Prius), so the Gross Cap Cost was $27,617 (all the above plus $2,200).
 
Monthly payment came out to about: $372 / month. Based on my calculations, without the $2,200 Negative Equity, my payments would be about $308 / month.
 
THANK YOU in advance for your comments/thoughts even if they may not be positive!

#166 of 390 Re: Evaluate My Deal, Please! [bruin19] by delta737h

Jun 20, 2010 (11:46 am)

Replying to: bruin19 (Jun 20, 2010 1:47 am)
bruin19,
 
Nice screen name. Did you attend UCLA? Anyway, I need a bit more information in order to evalute your deal such as MSRP, detailed itemization of options added (if any), amounts financed (i.e. capitalized), cap reduction, and tax rate. You didn't specify the term. I'm guessing 36 months. If so, and assuming you made no cap reduction, I get a base payment of...
 
0.00075 x (27617 + 16333) + (27617 - 16333) / 36 = 346.41
 
The money factor looks good and I assume that it reflects the buy rate. The only other item that drives the deal is the sell price. Without knowing the items described above, I really can't comment further.
 
John

#167 of 390 Re: Prius IV [evahnulahm] by dwynne

Jun 22, 2010 (5:35 am)

Replying to: evahnulahm (Jun 16, 2010 5:33 am)
Where is the acquisition fee? Maybe that is rolled into the lease since I don't see you list it as being paid by you up front.
 
What is "residual assistance" ? I am pretty sure you can't residualize the tint, mats, and bumper thingy on a Toyota lease...

#168 of 390 Re: PLEASE HELP - Is this a good deal in VA? [19vt95] by dwynne

Jun 23, 2010 (4:46 pm)

Replying to: 19vt95 (Jun 06, 2010 9:13 am)
The MSRP you list is not the real MSRP, it is the MSRP + the options and dealer installed accessories. Normally options and dealer installed stuff can't be residualized on a Toyota lease or only parts of certain ones can. That means you pay 100% of the cost. A II MSRP is $22,800 NOT including the $750 destination fee or any options. On a 12k per year lease residual should be 68% or $15,504. If your residual is $15,960 then you are getting $456 of help on the residual out of the $1,287 MSRP of options / accessories on the car. This is 35.6% of the "MSRP" and not 68% like you get on the rest of the car.
 
So you are paying for and interest on 100% of the destination charge, and 64.6% of the options / accessories - and of course interest on the full price of the car and principle on 32% of it.
 
If ALL you pay at signing is $249 - nothing else, not even first payment, then depending on your tax rate this is not bad. There is a $650 bank fee to be paid, taxes, title, license fees, first payment, etc. Sounds like it is all rolled in to the deal.
 
The key is the selling price of the car - how much are you paying for it? The net cap cost before any fees or cap cost reduction is applied?
 
The III MSRP may be the same /similar, but with no options the whole MSRP (less destination) can be residualized. I also do not know the III residual percent, but I would GUESS it may be a little higher than the II. With a higher percent, same MF, and more of the MSRP being able to be residualized you may find the payment is less.
 
The residual should go down 2 points from 68% to 66% if you go with 15k on the II. You will have to calculate the new payment and see. Keep in mind, your residual dollar amount is not derived properly from full MSRP so you will be unable to figure it for yourself exactly.

Messages Page 17 of 40

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