2010 Toyota Prius Lease Rates – February 2010

Published 2010/02/172012/01/10 by G

logo_toyota Update: I finally got a quote on the Prius and I got some bad news to report. On a Prius IV, the residual value is NOT 70% for 15k miles on a 36-month lease. Instead, you are looking at 61%. The money factor is 0.00145 if you have a credit score of 720 and above. If it’s slightly below that, your rate would be somewhere around 0.00155, which is listed here. In terms of sale price, the best offer they could come up with was $1500 off the MSRP. Which is pretty lame. I would never pay over invoice even without the problems Toyota is facing, so why would I do it now when all these recalls are happening? In their defense though, they did mention that due to the availability of the model with the “solar panel”, their ability to discount any further is limited. If I were to look at a model without the solar panel, then invoice would easily be attainable. Fair enough, but still doesn’t motivate me enough. Final numbers are $0 drive-off and about $410 a month, and of course, you have to pony up for that GAP which is around $500 bucks. If you live in the Southeast, these numbers probably don’t apply to you since your market is different.

For those looking for a Toyota…
http://usnews.rankingsandreviews.com/cars-trucks/best-car-deals/Toyota-Deals/

My Take: Wow, the residual/money factors are pretty dang good right now. Lets take a Prius V with a MSRP of $29,040. Then let us assume with the problems Toyota is facing, the dealer is willing to unload it for invoice plus 1% of the holdback. That would set you at about $27,055 minus $290 or $26,760. Assuming you pay all of your inception fees at signing, your payments would come down to about $251 per month + tax. Should you decide to roll in all of your fees, and have a $0 drive-off, my best guess would be a $290 per month, plus tax. Not too shabby huh? Remember that Toyota doesn’t have GAP, therefore you have to buy it. I am making assumptions here,so I am in no way shape or form claiming that a Prius V goes for $26,760. Depending on your negotiation skills and the region you live in, you may or may not hit that sweet spot. But regardless, even if you were to get invoice or slightly above it, you would still be looking at a payments around high $200 to mid $300s, which isn’t all that bad.

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2010 Toyota Prius

Lease rates provided by LeaseCompare.com

2010 Toyota Prius Lease Rates – July 2009

Published 2009/07/202012/01/10 by G

logo_toyota My Take: MF rises .00010 points from June, so things got a bit more expensive than last month. Seems like the Prius is selling well, which could explain the sudden rise in MF. I would recommend passing on this car this month. Maybe next month will be better.

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2010 Toyota Prius

2010 Toyota Prius Lease Rates – June 2009

Published 2009/06/252012/01/10 by G

logo_toyota UPDATE Here are the rest of the 2010 Prius lease rates. The residuals are just insanely high. Imagine a car that holds 50% of it’s value over a 5 year period! I guess we’ll see if that’s the true resale value of the Prius in the next few years.

My Take: Toyota is not exactly offering a “deal” on these Priuses due to the high demand. Despite the crap economy, Toyota is still pumping out the better hybrid that people want (sorry Honda). In any case, gas prices are going up (I filled up at $3.19 per gallon last friday and it cost me $55 bucks to fill the tank, damn), which reminds us that we could hit $5.00 gas once again. However, overpaying for a hybrid is not really a great idea.

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2010 Toyota Prius

09 Toyota Prius Lease Rates – May 2009

Published 2009/05/132012/01/10 by G

logo_toyota My Take: Moving on to the Prius…I wouldn’t lease this ride solely on the money factor being so high. I do not wish to pay 6.6% APR on a lease when there are cars out there going for less than 1%. The residual are extremely attractive, but I get the sense that those are somewhat inflated. If you want to buy, go right ahead, there is a $500 rebate available to customers so be sure to take advantage of that. Keep in mind that the 2010 Prius is out, so you can probably save some cash by going for the 09 model. In any case, gas prices here in the US have gone up about 40% in the last few weeks, so the Prius could potentially have very good resale value if our prices start climbing up into last years $4-$5 range. Something to think about…

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2009 Toyota Prius

09 Toyota Prius Lease Rates for February 2009

Published 2009/02/242012/01/10 by G

My Take: The money factor is terrible on the Prius, but the high residual value makes up for it. Remember, when you lease, you are paying for the estimated depreciation of the vehicle for the term of your lease. So the higher the residual, the lower the base payments. Ideally, you want a lower money factor (interest). If you don’t mind paying 6.84% interest on the depreciation of lease, the Prius isn’t a bad choice for a lease. Of course, I’d rather have the MINI Cooper S. There is $500 cash back on the Prius, so be sure to factor that in during your negotiations.

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			At Invoice		At MSRP
Make/Model	Invoice	MSRP	24-month	36-month	24-month	36-month
2009 Toyota Prius	$22,478	$24,095	$364	$322	$436	$371

NOTE: Estimates assuming the following conditions:

Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) will be paid at signing.
Local Taxes not included.
24-month/15k and 36-month/15k terms.
All cars are stock, without any options.

2009 Toyota Prius

DO NOT LEASE

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09 Toyota Prius Lease Rates for January 2009

Published 2009/01/232012/01/10 by G

My Take: The Prius has a $500 rebate available to customers, which makes this car slightly cheaper to lease than in the past. You probably won’t get this car at invoice + the $500 rebate, but you will certainly get it at $500 under MSRP. The residual value is fairly strong which will help keep the your payments lower than most cars despite the fact that the money factor is high. Just watch out for the options, this ride gets expensive quick.

On another note, I’ve updated the January 2009 DO NOT LEASE list with more cars. I figure I’d get those out there soon since we’re near the end of the month.

			At Invoice		At MSRP
Make/Model	Invoice	MSRP	24-month	36-month	24-month	36-month
2009 Toyota Prius	$22,478	$24,095	$364	$322	$436	$371

NOTE: Estimates assuming the following conditions:

Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) will be paid at signing.
Local Taxes not included.
24-month/15k and 36-month/15k terms.
All cars are stock, without any options.

2009 Toyota Prius January Lease Rates

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October 2008 Lease Rate for 09 VW Jetta, Acura RDX and Toyota Prius

Published 2008/10/222012/01/10 by G

My Take: Couple of things…the Prius lesses well because of the high residual value, but the money factor is pretty high in my opinion. Lower than Honda’s standard lease rate, but high nonetheless, so watch out for that. The RDX looks like it needs further money factor reduction to make it more attractive. It isn’t horrible, but I the lower residual value doesn’t help keep the costs down. Lastly, the Jetta TDI (for those who live in states that have them) seems like an excellent lease with a .00148 mf and fairly high residual values. Remember to lease it for no more than 36 months because VW’s Warranty is only 3 years.

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QUICK LINKS:

LEASE CALCULATOR (requires MS Excel)
THE LIST, monthly list of car rankings on monthly payments

2009 Volkswagen Jetta TDI Wagon
24 Month – Residual 64% of MSRP – .00148 Base Rate
36 Month – Residual 57% of MSRP – .00148 Base Rate
48 Month – Residual 50% of MSRP – .00188 Base Rate

2009 Acura RDX Wagon
24 Month – Residual 59% of MSRP – .00128 Base Rate
36 Month – Residual 50% of MSRP – .00128 Base Rate
48 Month – Residual 42% of MSRP – .00290 Base Rate
60 Month – Residual 33% of MSRP – .00290 Base Rate

2009 Acura RDX Wagon Tech
24 Month – Residual 58% of MSRP – .00128 Base Rate
36 Month – Residual 49% of MSRP – .00128 Base Rate
48 Month – Residual 41% of MSRP – .00290 Base Rate
60 Month – Residual 32% of MSRP – .00290 Base Rate

2009 Toyota Prius 5dr HB
24 Month – Residual 71% of MSRP – .00265 Base Rate
36 Month – Residual 64% of MSRP – .00265 Base Rate
48 Month – Residual 55% of MSRP – .00265 Base Rate
60 Month – Residual 45% of MSRP – .00265 Base Rate

Rates provided by Tarry Shebesta from Leasecompare.com