Last post on Nov 11, 2013 at 10:37 AM
You are in the Toyota Prius
What is this discussion about?
Toyota Prius, Car Leasing, Hybrid Cars
#51 of 473 Re: lease with trade in with neg equity [mistermugsy]
Mar 07, 2010 (8:00 am)
In general, with strong credit, you should be able to "pay" up to a certain percentage (115%?) of MSRP and build that it into a lease.
Not sure how a manufacturer-subsidized program plays into this, though.
Mar 07, 2010 (7:54 pm)
According to the numbers on the current $199 per month offer, the residual on a Prius II is 72% for 36m / 12000 miles. Can anyone confirm that this is the case across all the Prius range? From this board, I can see someone got offered 70% on 36m /15000 miles.
My local dealer is insisting on 63% and no reduction from sticker price. I want to get a confirmation on the residual before trying to get deals from other, more far-flung dealers.
#53 of 473 Prius V
Mar 07, 2010 (9:26 pm)
How are you? Glad to see you're still giving advice because I need some. Looking for MF and residuals for a 2010 Prius V / 12K / 3yr. lease. Also looking same way for the Hyundai Tucson LTD 4WD. Seems that Toyota is eager to deal as I was walking by a Toyota showroom and a salesperson literally dragged me in. I see that current lease deals for the Prius are good till 4/5. Does Toyota's MF change on the 6th of the month or earlier? I was hoping you could shed light if you think Toyota will discount deeper as we get into March, April.
#54 of 473 Re: Residual [cluedweasel]
Mar 08, 2010 (3:14 pm)
I have an email quote on a Package II for 15,000 miles and the residual was 66.58%. 12,000 was 68.49%. I assume this was due to Toyota's unique policy of not residualizing some options. So I was given a residual dollar amount and worked the percentage backwards.
#55 of 473 Re: 2010 Prius Lease in NJ [cluedweasel]
Mar 08, 2010 (4:31 pm)
Cluedweasel - Thanks for the input and I was expecting the 70% residual based on working the math backwards on the advertised lease on buyatoyota.com, however the dealerships around me in NJ seems to be confused as they have all provided different residuals, so my thinking is that the high residual may only apply to the base model and not the Prius 3 through 5.
Hopefully the edmunds moderator can chime in here to clarify the Prius lease program for March before it goes away.
The best offer so far is around $300/month with $1300 due at signing for the Prius III with the solar sunroof package. That's OK, but certainly not a really special deal.
Mar 08, 2010 (5:53 pm)
What is the 36 month lease going for on a Prius IV Solar Roof w/ Nav Package?
Want to know Residual, MF, etc.
#57 of 473 Playing Hardball
Mar 08, 2010 (6:24 pm)
The guys at Santa Monica Toyota quoted me this today:
Residual 16,400 (69.6%)
How hard can I hit them?
The national advertisement out now is 229 month, w/ 879 due.
That's $9,123 for 36 months, well over the $7,150 depreciation of a non haggled price.
I'm thinking of walking if they don't give me 22,500. What i'm curious about is how much interest/moneyfactor I should allow them. I have perfect credit and don't think they should be able to ask for jack down.
22500 - 16400 = 6100 / 36 = 170 before tax or mf.
I think I can get 200/month (Tax incl), nothing down, 36 months.
Am I crazy?
Also, there is another major Toyota dealer 5 miles away. So i can play them off each other.
#58 of 473 Re: Playing Hardball [saturnius]
Mar 08, 2010 (9:06 pm)
Are you crazy? No. Can you do much better? Maybe. Unless the NTHSB comes out and really "Datelines" Toyota with some hard hitting investigative reports as to what is wrong with these Toyotas, I would say about $200 or maybe $300 under invoice is the absolute bottom price on a base Package II, FOR NOW. I am currently $150 under invoice in my negotiations and have asked via email for $300. Should get a reply tomorrow.
All the negative press lately has really opened up the lease deals for these Toyotas. Normally their lease rates are the absolute worst in the industry (around 7-8%.) The Prius is currently 1.8%. Nice! I have always laughed at leasing from Toyota. Sale price of OVER MSRP and high lease rate used to equal = $400 a month for a BASE Prius, no thanks. You could have bought one for less than leasing in the past. Now with the current lease rates and their willingness to sell at under sticker price, it actually makes sense to lease. I'm hoping to get $220 a month on a 12,000 mile 36 month lease.
This is what happens when demand is low and supply is high. My local dealer has 54 Prius II. I am thinking about waiting and hoping for a rebate AND the low lease rate. I wonder if they will cut a hole in the floorboard for me so I can "Fred Flintstone" it when it accelerates out of control? Baaarrrrnnnneeeeyyy! No brakes!
#59 of 473 Re: 2010 Prius Lease in NJ [civhybrid07]
Mar 08, 2010 (10:33 pm)
I've got a $290 per month (36m /12K) for the Prius III with solar. That's on a $28580 sticker, $27000 selling, 0.00085 MF and 63% residual. You may be right about the high residual being on the Prius II only. I hope not. My wife is really stuck on the III.
#60 of 473 Re: Playing Hardball [indianajohns]
Mar 08, 2010 (10:36 pm)
Thanks for the advice, I'll try and get them under invoice when I go to battle it out.
This would be my first lease, do you get GAP insurance with your leases? Do you do it with with the leaser or with your own insurance company?