sonatamain

Replacing the G – Round Two

I’m not quite sure how many rounds I will need in order to narrow the list down to my “top five” choices, but I can tell you that I have come much closer thanks in part to the 2010 OC Auto show and the test drives I have done so far. Here is an update of my “Wish List” along with some extra comments:

The Large SUV Group

  • Honda Pilot – This is barely making the cut right now.  Not overly impressed nor extremely disappointed.
  • Mazda CX-9 – It’s nice, it’s roomy and depending on the test drive, it could really be a contender.
  • Chevy Traverse – This car is relatively new, but it feels aged compared to Chevy’s newer offering. Even the GMC Acadia, which is practically the same SUV feels newer.
  • Toyota Highlander – Cheapness, is it’s weakness. Even a newly redesigned exterior can’t overcome the cheapness.
  • Ford Explorer – Much uglier in person, but I didn’t get to see the interior since they didn’t have a display model on the floor for people play with. Either way, I don’t think the lease will be attractive enough for it to warrant any consideration at this point. I may consider revisiting it down the road if an attractive lease pops up.

Overall, this group is starting to look really bad. I suspect the Pilot might get booted due to it’s styling and less-than-exciting interior, leaving the CX-9 as the top choice in this category.

The Compact SUV Group

  • Toyota RAV4 – Cost-cutting has really made this SUV hard to love. The hard plastics reeks of cheapness and the interior dash is uninspiring. Even if its inexpensive to lease, I don’t think I want one since Toyota’s lease program leaves much to be desired.
  • Ford Edge – This is a well-built SUV with a better-than-average interior. I haven’t seen any special leases on it, but it’s still early in the model year.
  • Infiniti EX35 – Test drove it a few weekends ago and my impression is that it’s a  solid crossover. It’s smooth over bumps, powerful, quiet and it drives like a G with higher ground clearance. There is also a lot of dealer cash on this car right now, which potentially knocks off a lot off the MSRP, making it a really good lease. Unfortunately I think it falls really short in two areas, cargo and MPG. It is still fairly practical since folding down the rear seats exposes quite a bit of cargo room, but I think of this car as a hatchback with poor MPG more than a true crossover.
  • VW Tiguan – Saw it at the show and I’ve driven it before; my folks also own one. Cargo wise its slightly better than the EX, but not by much. No Wolfsburg edition planned just for 2011 (yet) so my only choices would be the S and the SE trims.
  • Acura RDX – Test drove this as well and found it to be a serviceable crossover. I will not wow you, but it is all you should expect from Acura; Roomy and reliable with above average performance. The 4-banger turbo does not have a very noticeable lag which is impressive. Comes well-equipped, but it doesn’t have it all unless you go with the Tech. In my case, I can’t justify the cost. The exterior styling doesn’t really impress me much, but I think having an excellent lease program does.
  • Subaru Forester – I think it has a slight edge against the Outback. After looking at them side by side, I like it a little better.

If I had to guess, the Forester, Tiguan and the RDX will end up battling it in the payment department. I just don’t think Ford provides enough lease incentives to make the Edge a contender.

The Wagon Group

  • Audi A3 – I am a big fan of  TDI model, but I am willing to settle for a FrontTrak Premium. It’s driving dynamics shouldn’t be too different than my wife’s Jetta so I think it will end up coming down to a price war between the other finalists.
  • VW Jetta Sportwagen – Saw the TDI version at the show, love the Pano sunroof. Thankfully, it retains the nicer interior of the older Jettas, which is a plus. I did see the “new Jetta” and if you have seen “older” models, you will notice a difference. The interior materials haven’t been downgraded much, but the cabin certainly feels more “simplified”. The exterior styling isn’t too bad, but it feels more “vanilla” compared to the outgoing model.
  • VW Golf TDI – As nice as expected, looks like a more civilized version of the GTI and gets crazy gas mileage. Big fan, hopefully the lease rates will look good when the time comes.
  • VW GTI – I have to say, I am not a big fan of those cloth seats, but I love everything else.
  • Subaru Outback – I like it, but I have to admit that there are better cars. AWD certainly helps it’s case.

The Wagon group shows a lot more promise due to the more reasonable payments, practicality and fuel economy. My first choice would be the A3, but at this point any of these are a possibility.

The Sedan Group

  • Acura TSX – Acuras hold a special place in my heart, so this is a no brainer. I will likely opt for the Tech, but it all depends on the price.
  • Acura TL – Ditto on the TL. If a TSX with Tech were to be around the same as a TL base, I’d take the TL.
  • Hyundai Sonata – Saw the 2.0 Turbo and the Hybrid at the show, lovely inside and out. I got around to test drive the Limited model and I came away impressed. Quiet, smooth and with ample power. It’s no G37, but I didn’t expect it to be. Inexpensive, well-built and easy on the eyes. The closest thing to a win-win situation if there was one.
  • Infiniti G37 – I’ve been plagued with battery issues on my G37 this past year, with yesterday being the latest incident (I couldn’t get my car started for the 3rd time this year and I didn’t even leave any of my lights on). I think I will be skipping Infinitis this time around.
  • Nissan Maxima – Being the G37’s cousin dooms it’s chances. See above.

This is the “fall-back” category. I don’t think I would pick a sedan over the other categories due to my need for “room”. However, money talks and sedans have better lease programs than anything out there right now. The Sonata is a perennial favorite here, with the 2.0T being my top choice. My fall back would be the TSX, with the TL close behind.

g37main

Replacing the G – Round One

I know I am jumping the gun by doing a write-up about my “next ride” considering I have another 10 months left on my lease. However, my wife has began dropping hints about what my next ride should be. “Something practical, something bigger…something that will keep your paws off my Jetta” she says.  Sadly, it looks like my G37 has become rather impractical and the wife has finally put me on notice.

I can’t say I blame her because in recent months, her car has become the designated “airport shuttle”. If that wasn’t bad enough, we have also been using her car to haul some furniture from Office Depot and weekly trips to Costco. Unfortunately, it seems that life has finally caught up with me and I can no longer ignore the other “needs” in life.

So now I am faced with a dilemma….what exactly can I get that will fulfill the following requirements…

  • seating for at least five people
  • practical cargo space
  • above average performance
  • similar or better MPG than the 18/24 I am getting now
  • costs no more than what I currently pay ($1300/$424 per month), preferably, less!

After careful consideration over the past month, I’ve come up with a general “Wish List” of potential cars/SUVs that may satisfy my needs.

The Large SUV Group

Honda Pilot
Mazda CX-9
Chevy Traverse
Toyota Highlander
Ford Explorer

The Compact SUV Group

Toyota RAV4
Ford Edge
Infiniti EX35
VW Tiguan
Acura RDX

The Wagon Group

Audi A3
VW Jetta Sportwagen
VW Golf TDI
VW GTI
Subaru Outback

The Sedan Group

Acura TSX
Acura TL
Hyundai Sonata
Infiniti G37
Nissan Maxima

For the next few months, I will take the time to do some test drives in order to narrow down the list some more. Keeping in mind the requirements listed above, I would love to hear your opinions and any recommendations you may have.

09 Toyota RAV4 Lease Rates – June 2009

logo_toyotaMy Take: This isn’t too bad of a lease right now. Just look at the residual values. The MF a bit high, but I think the residual value helps keep the monthly costs lower. You might be able to do some MSDs to further lower the MF (consult your dealer). In terms of styling, I prefer the Honda CRV a bit more, but the RAV4 isn’t half bad since the lease rates seem to be better on the RAV (than CRV) in most months.

2009 Toyota RAV4

2009 Toyota RAV4 AWD
24-month | 15k miles | residual 68% | .00183 base money factor
36-month | 15k miles | residual 61% | .00183 base money factor
48-month | 15k miles | residual 52% | .00255 base money factor
60-month | 15k miles | residual 43% | .00255 base money factor

2009 Toyota RAV4 Sport AWD
24-month | 15k miles | residual 66% | .00183 base money factor
36-month | 15k miles | residual 59% | .00183 base money factor
48-month | 15k miles | residual 50% | .00255 base money factor
60-month | 15k miles | residual 41% | .00255 base money factor

2009 Toyota RAV4 Limited AWD
24-month | 15k miles | residual 66% | .00183 base money factor
36-month | 15k miles | residual 59% | .00183 base money factor
48-month | 15k miles | residual 50% | .00255 base money factor
60-month | 15k miles | residual 41% | .00255 base money factor

09 Toyota RAV4 Lease Rates – May 2009

logo_toyotaMy Take: The residuals on the RAV4 are so high that it really does a good job offsetting the higher money factor. Just remember that high residuals makes for poor buyouts once your lease ends. This means that you will likely overpay should you try to buy the car out OR lose money if you try to end the lease early by trading it in or selling it. With that in mind, the RAV4 is an excellent alternative to the Honda CRV, which boasts a ridiculous .00250 MF. Toyota is also offering $500 cash back to customers, so whatever the dealer offers, minus $500 should be your sale price. If you are in the military, add another $400. If you are a college graduate, add another $1000. That’s $1900 if you qualify for all these rebates. Nice huh?

At Invoice At MSRP
Make/Model Invoice MSRP 24-month 36-month 24-month 36-month
09 Toyota RAV4 AWD $21,868 $23,700 $309 $272 $388 $326

NOTE: Estimates assuming the following conditions:

  • Inception fees (1st month payment, DMV, doc fee, bank fee, tire tax and possible security deposit) due at signing.
  • Local Taxes not included.
  • 24-month/15k and 36-month/15k terms.
  • All cars are stock, without any options.
  • No rebates/incentives applied

2009 Toyota RAV4

2009 Toyota RAV4 AWD
24-month | 15k miles | residual 68% | .00183 base money factor
36-month | 15k miles | residual 61% | .00183 base money factor
48-month | 15k miles | residual 52% | .00275 base money factor
60-month | 15k miles | residual 43% | .00275 base money factor

2009 Toyota RAV4 Limited AWD
24-month | 15k miles | residual 66% | .00183 base money factor
36-month | 15k miles | residual 59% | .00183 base money factor
48-month | 15k miles | residual 50% | .00275 base money factor
60-month | 15k miles | residual 41% | .00275 base money factor

2009 Toyota RAV4 Sport AWD
24-month | 15k miles | residual 66% | .00183 base money factor
36-month | 15k miles | residual 59% | .00183 base money factor
48-month | 15k miles | residual 50% | .00275 base money factor
60-month | 15k miles | residual 41% | .00275 base money factor

October 2008 Lease Rate for 09 Toyota RAV4

My Take: The money factor on the RAV4 is pretty weak this month. Sure, the residual is high, but why on earth would you want to pay 6.36% APR on a car nowadays? Think about it, the Fed Rate is 1.5%!!!! Anyway, just so food for thought in case you where looking to lease a 2009 RAV4.

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QUICK LINKS:

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

2009 Toyota RAV4 Sport AWD
24 Month – Residual 69% of MSRP – .00265 Base Rate
36 Month – Residual 62% of MSRP – .00265 Base Rate
48 Month – Residual 54% of MSRP – .00265 Base Rate
60 Month – Residual 46% of MSRP – .00265 Base Rate

Rates provided by Tarry Shebesta from Leasecompare.com

0% financing on 11 Toyota models

PRESS RELEASE:

Toyota Announces Zero-Percent Offer

TORRANCE, Calif., Oct. 2, 2008 – Toyota Motor Sales (TMS), U.S.A., Inc., today announced a zero-percent interest rate offer on eleven Toyota models for qualified buyers. Expiring November 3, 2008, the loan offer varies by model, with terms ranging from 36 to 60 months.

Taking aim at the credit squeeze which has sidelined many of today’s new-car buyers, the attractive offer is unprecedented for Toyota.

“Not only do we have the inventory of today’s sought after fuel-efficient models, but we have the capacity through Toyota Financial Services to finance or lease them,” said Toyota Division General Manager Bob Carter.

The Toyota models qualifying for this offer are: Matrix, Corolla, Camry, RAV4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma and Tundra.

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