July 2008 Lease Rate for 09 Toyota Corolla

My Take: ’09 Corollas will probably be difficult to get at invoice. Edmund’s TMV reports only about $300 off MSRP. Then again, I take Edmund’s TMV with grain of salt. Here are the numbers on a very well equipped ’09 Corolla LE.

  • MSRP $20,805
  • Invoice $18,449
  • Standard inception fees plus taxes
  • Rates in BOLD

Monthly Payment $218 at invoice, $288 at MSRP, $275 at TMV.

If you tack on your local taxes, you’ll be paying over $300 a month over 36 months at MSRP and TMV. Would I lease it? Probably not, I’d rather buy it since it’s a relatively inexpensive car.

Toyota Corolla LE
36mo/15k – residual 61% – money factor .00188

July 2008 Lease Rate for 08 Toyota Tundra

My Take: Looks like Toyota is trying to push their Tundra trucks on leases. The 24mo and 36mo rates seem to be the winners here. I’ve never been a big fan of trucks. Is not that I don’t find them useful, they are very practical after all. The main issue is that when you become a truck owner, and everyone you know knows this, you become the designated “mover” or “truck lender” among your friends and family. Eh, no thanks. So lets take a look at the numbers shall we?

  • Limited 4dr CrewMax Cab SB (5.7L) with moonroof, running boards, tow mirrows and TRD offroad pkg.
  • MSRP $40,140
  • Invoice $36,367
  • Using rates in BOLD
  • Standard inception fees apply, taxes not included.

24 Month Payments: $585 at invoice, $744 at MSRP
36 Month Payments: $479 at invoice, $586 at MSRP

Wow, never knew trucks could cost so much. In any case, the 36-month lease seems to look significantly better than the 24-month lease. You can probably opt for a “cheaper” model and the payments should drop further.

2008 Toyota Tundra CrewMax 5.7L 2WD
24 Month – Residual 58% of MSRP – .00066 Base Rate
36 Month – Residual 51% of MSRP – .00066 Base Rate

48 Month – Residual 40% of MSRP – .00255 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

July 2008 Lease Rate for 08 Infiniti FX35

My Take: Just when we thought the Lexus’ residuals were low, Infiniti’s FX seems to take it one step lower. Unexpectedly, it doesn’t seem like there is any lease support for these vehicles. Lets see what the numbers look like on a FX35 AWD with Tech, Sport and Towing hitch.

  • MSRP $48,045
  • Invoice $43,769
  • Terms in BOLD, below
  • Standard inception fees apply, taxes not included.

24 Month Payments: $835 at invoice, $1004 at MSRP
36 Month Payments: $723 at invoice, $852 at MSRP

WOW! this hurts just typing it. The slightly better news is that you can probably get this car for under invoice…how much? Not sure, but Edmunds’ TMV shows around $3200 under invoice (in So Cal). Keep in mind that Edmunds’ TMV varies from zip code to zip code and also takes in consideration purchases, not just leases. Assuming TMV, the payment range is around: $675 for 24 months and $627 for 36 months. That’s much  better, but not quite a “deal” since taxes are not included.

2008 Infiniti FX35 2WD
24 Month – Residual 58% of MSRP – .00240 Base Rate
36 Month – Residual 47% of MSRP – .00240 Base Rate

2008 Infiniti FX35 AWD
24 Month – Residual 59% of MSRP – .00240 Base Rate
36 Month – Residual 49% of MSRP – .00240 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

July 2008 Lease Rate for 08 Lexus ES350

My Take: The ES350 has some low MF’s for July. The Residual is fairly low though, so any savings you may have gotten from the low MF is pretty much offset by depreciation. Lets take a ES350 (with Premium Plus & Navi) and see how the numbers look:

  • MSRP $40,075
  • Invoice $35,366
  • Standard Inception Fees
  • Using terms in bold for ES350 sedan, see below.

24 month payments: $574 at invoice, $775 at MSRP
36 month payments: $476 at invoice, $611 at MSRP

The more expensive the car, the bigger the range. Clearly, the 36mo terms are better on the ES350. Just be careful if you decide to go with the ES350, there many options on this car and fairly expensive ones, so payments can get out of control very quickly.

2008 Lexus ES350 Sedan
24 Month – Residual 57% of MSRP – .00090 Base Rate
36 Month – Residual 50% of MSRP – .00090 Base Rate

48 Month – Residual 41% of MSRP – .00190 Base Rate
60 Month – Residual 32% of MSRP – .00245 Base Rate

2008 Lexus ES350 Ultra-Luxury Sedan
24 Month – Residual 55% of MSRP – .00090 Base Rate
36 Month – Residual 48% of MSRP – .00090 Base Rate
48 Month – Residual 39% of MSRP – .00090 Base Rate
60 Month – Residual 30% of MSRP – .00245 Base Rate

July 2008 Lease Rate for 08 Toyota RAV4

My Take: Looks like the RAV4 is looking like a good lease this month. Specially the 4WD V6 model. Here’s a estimation of payments using a fully loaded Limited 4WD V6 model.

  • MSRP: $33829 ($32829 with $1000 customer rebate)
  • Invoice: $30123 ($29123 with $1000 customer rebate)
  • Term: 36mo/12k

Monthly Payments Range: $245 (plus tax) at invoice + rebate, $352 (plus tax) at MSRP + rebate. (Plus inception fees).

Not too bad. Good $100 range depending on your negotiation skills.

2008 Toyota RAV4 4WD Limited V6
24 Month – Residual 68% of MSRP – .00093 Base Rate
36 Month – Residual 61% of MSRP – .00093 Base Rate
48 Month – Residual 53% of MSRP – .00255 Base Rate
60 Month – Residual 45% of MSRP – .00255 Base Rate

2008 Toyota RAV4 4WD Sport V6
24 Month – Residual 68% of MSRP – .00093 Base Rate
36 Month – Residual 61% of MSRP – .00093 Base Rate
48 Month – Residual 53% of MSRP – .00255 Base Rate
60 Month – Residual 45% of MSRP – .00255 Base Rate

2008 Toyota RAV4 4WD V6
24 Month – Residual 70% of MSRP – .00093 Base Rate
36 Month – Residual 63% of MSRP – .00093 Base Rate
48 Month – Residual 55% of MSRP – .00255 Base Rate
60 Month – Residual 47% of MSRP – .00255 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms

** Rates provided by Tarry Shebesta from Leasecompare.com

July 2008 Lease Rate for 08 Nissan Rogue

My Take: The residual value looks a bit inflated (good thing), while the MF looks rather “standard” (higher than I’d personally prefer). Assuming the following:

  • Rogue S AWD, fully loaded. (seems to be the better rates).
  • 36mo/12k term
  • MSRP $22195, $21695 after $500 rebate.
  • Invoice $21073, $20573 after $500 rebate.

Monthly payments should be around: $286 (plus tax) at invoice – rebate, $320 (plus tax) at MSRP – rebate, plus inception fees (1st month + fees).

2008 Nissan Rogue S 2WD
24 Month – Residual 71% of MSRP – .00250 Base Rate
36 Month – Residual 59% of MSRP – .00250 Base Rate

2008 Nissan Rogue SL 2WD
24 Month – Residual 68% of MSRP – .00250 Base Rate
36 Month – Residual 57% of MSRP – .00250 Base Rate

2008 Nissan Rogue S 4WD
24 Month – Residual 73% of MSRP – .00250 Base Rate
36 Month – Residual 61% of MSRP – .00250 Base Rate

2008 Nissan Rogue SL 4WD
24 Month – Residual 69% of MSRP – .00250 Base Rate
36 Month – Residual 58% of MSRP – .00250 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

July 2008 Lease Rate for 08 Honda Pilot

2008 Honda Pilot VP 4WD
24 Month – Residual 56% of MSRP – .00370 Base Rate
36 Month – Residual 48% of MSRP – .00270 Base Rate
48 Month – Residual 39% of MSRP – .00255 Base Rate
60 Month – Residual 33% of MSRP – .00270 Base Rate

2008 Honda Pilot SE 4WD
24 Month – Residual 57% of MSRP – .00370 Base Rate
36 Month – Residual 48% of MSRP – .00270 Base Rate
48 Month – Residual 39% of MSRP – .00255 Base Rate
60 Month – Residual 33% of MSRP – .00270 Base Rate

2008 Honda Pilot EX 4WD
24 Month – Residual 56% of MSRP – .00370 Base Rate
36 Month – Residual 48% of MSRP – .00270 Base Rate
48 Month – Residual 39% of MSRP – .00255 Base Rate
60 Month – Residual 32% of MSRP – .00270 Base Rate

2008 Honda Pilot EX-L 4WD
24 Month – Residual 54% of MSRP – .00370 Base Rate
36 Month – Residual 47% of MSRP – .00270 Base Rate
48 Month – Residual 38% of MSRP – .00255 Base Rate
60 Month – Residual 31% of MSRP – .00270 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

My Take: As you can see, Honda isn’t exactly offering any incentives to lease the 08 Pilot anymore. Buying seems to be the ongoing theme this month. Low APR financing is making its way in from pretty much every manufacturer for all 08 models. You just might do a bit better leasing a 09 Pilot than an 08 Pilot.

July 2008 Lease Rate for 08 Volvo XC90

2008 Volvo XC90 3.2L 5-Passenger 2WD
24 Month – Residual 52% of MSRP – .00436 Base Rate
36 Month – Residual 43% of MSRP – .00406 Base Rate
48 Month – Residual 35% of MSRP – .00378 Base Rate

2008 Volvo XC90 3.2L 5-Passenger Sunroof 2WD
24 Month – Residual 52% of MSRP – .00436 Base Rate
36 Month – Residual 43% of MSRP – .00406 Base Rate
48 Month – Residual 35% of MSRP – .00378 Base Rate

2008 Volvo XC90 3.2L 7-Passenger Sunroof 2WD
24 Month – Residual 52% of MSRP – .00436 Base Rate
36 Month – Residual 43% of MSRP – .00406 Base Rate
48 Month – Residual 35% of MSRP – .00378 Base Rate

2008 Volvo XC90 3.2L 5-Passenger AWD
24 Month – Residual 53% of MSRP – .00436 Base Rate
36 Month – Residual 44% of MSRP – .00406 Base Rate
48 Month – Residual 36% of MSRP – .00378 Base Rate

2008 Volvo XC90 3.2L 5-Passenger Sunroof AWD
24 Month – Residual 53% of MSRP – .00436 Base Rate
36 Month – Residual 44% of MSRP – .00406 Base Rate
48 Month – Residual 36% of MSRP – .00378 Base Rate

2008 Volvo XC90 3.2L 7-Passenger Sunroof AWD
24 Month – Residual 53% of MSRP – .00436 Base Rate
36 Month – Residual 44% of MSRP – .00406 Base Rate
48 Month – Residual 36% of MSRP – .00378 Base Rate

2008 Volvo XC90 V8 7-Passenger AWD
24 Month – Residual 53% of MSRP – .00436 Base Rate
36 Month – Residual 44% of MSRP – .00406 Base Rate
48 Month – Residual 36% of MSRP – .00378 Base Rate

2008 Volvo XC90 V8 Sport AWD
24 Month – Residual 53% of MSRP – .00436 Base Rate
36 Month – Residual 44% of MSRP – .00406 Base Rate
48 Month – Residual 36% of MSRP – .00378 Base Rate

* Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
** Rates provided by Tarry Shebesta from Leasecompare.com

My Take: Wow, I haven’t seen such bad residuals and money factors before. Ford really does try to “impress” nowadays. There is $500 in loyalty cash available (like that helps?!?), special financing for purchases 0% for 36mo, 1.9% for 48mo, 2.9% for 60mo and 3.9% for 72mo. Finally, there is $4500 worth of dealer cash “available”, meaning, that’s given out at dealer discretion. Which more than likely means the dealer will be willing to give you a substantial portion of it if you buy the car, instead of leasing it.