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Toyota Prius, Car Leasing, Hybrid Cars
#199 of 473 2010 Prius III lease - Need advices ASAP
Jul 14, 2010 (9:16 am)
Hi everyone, I am new to this forum, car leasing, and Prius so whatever help and opinion you can provide is much appreciated.
I am working with a Northern California Toyota dealer on a Prius III lease and here is what they can offer me:
Base Prius III (no roof or Navi) with floor mats and cargo mat. 36-month lease with 12K miles annually. $0.15 per miles over 36K miles. 2-year schedule maintenance is also included.
No money down and nothing due at signing which includes all doc fees, first year registration, and first month lease payment and tax. I just sign the paper and take the car.
I am responsible for 35 payments of $240 + tax and the 2nd and 3rd year DMV registration.
I could get all the lease related figures by backing out the numbers but the deal seems pretty good to me by just looking at the sum of cash outflow. ($240 X35 = $8400) vs. the advertised deal on TV which is $1999 down and $199 per month for 36 months ($1999 + ($199X35) = $8,964 but for a Prius II.
Thanks a bunch.
#200 of 473 Re: 2010 Prius III lease - Need advices ASAP [beyond97]
Jul 14, 2010 (3:16 pm)
Your logic is sound - just based on the cash outlay and the amount of the payment I would say a really nice deal.
To really analyze the deal you need to know the agreed selling price of the car. That plus any dealer doc or prep fees gives us a number we can compare to invoice or other folk's prices at see how the car is priced in your deal. The DMV, taxes, bank fee, MF, residual, etc are all fixed for you so the only thing you can change to help the deal is a lower selling price - if possible.
We leases a III for my wife last month and paid first payment only at signing and our base payment is higher than yours. But every area is different (pricing, incentives, lease residuals and money factors, etc) and that was last month as well.
Get the selling price and see if there is more meat on the bone you can take off, but just based on $0 down and $240 + tax for a III that sounds really good to me.
#201 of 473 Re: 2010 Prius III lease - Need advices ASAP [dwynne]
Jul 15, 2010 (9:23 am)
I backed out the numbers so here is what I think the details should be:
Prius III Invoice $22156
Reduction to Invoice $(577.59)
Acquisition fee $650
Doc Fees $45
Tax on doc $4.39
CA Tires fee $8.75
DMV $29 (got that from previous posts let me know if that is not true)
Dealers pays for First month and taxes $263.4
Dealers pays for mats set and cargo net $160 (estimate)
Total Capitalized Amount $23498.95
I used MF= 0.00075 or 1.8% APR
Residual value (68% of MSRP, excluding Destination) $16,184
35 Monthly Payments left ($240 + tax of 9.75%) = $263.40 (or $9219 for the lease term)
Terms: 36 months lease with 12K mile annually.
One thing I am a bit confused.... should there be first year DMV registration as well? That usually costs $200-300 if I am buying a new car... but not sure how it works for leased cars. The dealer told me that they will pay for first year and I will pay for 2nd and 3rd.
I think it is not bad of a deal but please confirm ... I dropped by another dealer last night, the guy's first offer was $600 down and $273 + tax per month. That was without the mats and cargo net... the difference in face value is over $1700. Of course, I didn't negotiate at all and walked out of the dealership in about 20 minutes.
So what do you guys think??? I would go in a sign the lease tonight!
#202 of 473 Re: Just signed [evahnulahm]
Jul 15, 2010 (11:50 am)
I'm in Los Angeles and would love the same deal. Which dealer did you get this lease price from. Any where close. Anyone out there want to tell me where to go for a similar car, or which dealers will give me the best lease deal for the II or iv or v
#203 of 473 Prius III solar roof pkg
Jul 15, 2010 (12:32 pm)
I am looking into a Prius lease. I just want the sunroof, but you have to get NAV + roof. I am looking into the numbers to see if I will do this. However, I think its getting out of my price range. I was told MSRP $28,849 my price $26,897 less $750 rebate. Residual is only $16,683. They want $679.84 ( which includes your 1st monthly payment ). The Lease is $343.59/month. Not bad, but unless I can get this down to $300 range its not worth it to me. Does the residual seem low? I read post earlier for IV with NAV in CA and residual was in the $18k range. I also read Dyane's post that 68% of MSRP for residual. That puts it at $19,617. However, I am not sure if that applies to III with roof. Also, is there any way to get out of the lease inception fees. I hate paying fees when I am already paying interest to them. Money factor quoted was .00075 In NE Ohio. Thanks
#204 of 473 Re: Just signed on Prius IV + navi + mats [mdmdmd]
Jul 16, 2010 (8:56 am)
mdmdmd, may I know which dealer?
#205 of 473 Re: Just signed on Prius IV + navi + mats [mdmdmd]
Jul 16, 2010 (11:37 am)
I would be interested in which dealer as well... Thats a great deal!
#206 of 473 Re: 2010 Prius III lease - Need advices ASAP [beyond97]
Jul 16, 2010 (12:30 pm)
Have the dealer give you a break down of where all the money is going, Trying to work backwards to the selling price when fees and taxes are involved can be tricky. If they are on the level they will not mind giving you the numbers. If it looks good, then take them up on it.
#207 of 473 Re: Just signed on Prius IV + navi + mats [mdmdmd]
Jul 16, 2010 (9:43 pm)
Please tell us which dealer. I want the same deal...
#208 of 473 Re: Just signed on Prius IV + navi + mats [tjprius]
Jul 18, 2010 (1:37 pm)
Santa Monica, but it's possible you can get something similar from Manhattan Beach as well which was the original quote I got, but went to SM because it was closer.