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
2010 Toyota Prius I
24-month | 15k miles | residual 77% | .00155 base money factor
36-month | 15k miles | residual 70% | .00155 base money factor
48-month | 15k miles | residual 62% | .00245 base money factor
60-month | 15k miles | residual 53% | .00245 base money factor
2010 Toyota Prius II
24-month | 15k miles | residual 77% | .00155 base money factor
36-month | 15k miles | residual 70% | .00155 base money factor
48-month | 15k miles | residual 62% | .00245 base money factor
60-month | 15k miles | residual 53% | .00245 base money factor
2010 Toyota Prius III
24-month | 15k miles | residual 77% | .00155 base money factor
36-month | 15k miles | residual 70% | .00155 base money factor
48-month | 15k miles | residual 62% | .00245 base money factor
60-month | 15k miles | residual 53% | .00245 base money factor
2010 Toyota Prius IV
24-month | 15k miles | residual 77% | .00155 base money factor
36-month | 15k miles | residual 70% | .00155 base money factor
48-month | 15k miles | residual 62% | .00245 base money factor
60-month | 15k miles | residual 53% | .00245 base money factor
2010 Toyota Prius V
24-month | 15k miles | residual 77% | .00155 base money factor
36-month | 15k miles | residual 70% | .00155 base money factor
48-month | 15k miles | residual 62% | .00245 base money factor
60-month | 15k miles | residual 53% | .00245 base money factor
Lease rates provided by LeaseCompare.com
@all
FYI (save some $)
I’m a fan of GAP INS. but to pay $595 seems high, my INS company offers it for around $125 a year, so in a 3 year lease it’s almost half. But this is in mass. not sure all offer this?
Unfortunately for me, my insurance doesn’t offer it, so I have no choice but to buy it from Toyota, should I choose to lease one of their cars. I am in the process of getting an actual quote on a Prius right now. Wife test drove it today and was surprised as to how cheap the inside of a Prius feels. Haahaa. But if the payments are low, I think she might consider it. Right now the Jetta Wolfsburg is being offered to use for $368 per month (with 9.75% LA Tax) with $0 drive-off. That’s catching her attention right now.
Wow.. This is a great lease. 70% residual on a 36 month term? This is unbeatable. Opt for a very basic Prius II and payment should be around $230 with CA TAX!
A great find, G!!
hypothetically, it would be pretty awesome. I’m still waiting on quotes. it’s really amazing i have to say. you would think Toyota would be more responsive to their customers, but wow! I call for a quote and 24 hours later, still nothing. What gives? Those issues aside, WOW, Toyota cut costs and it shows! the leather is so cheap! hell everything feels cheap in the Prius.