Pruis leasing?

[azzieo]

Has anyone leased their Prius and if yes - what's the residual and financing % on it?
Thx!

[azzieo]

Bump in case somenone with a lease missed this...

[maknowlton]

I think the reason you're not getting a response is that there are not many (if any) Prii leased in the US. I did a little looking, before I took the plunge and bought mine, and there was very little information. A brief squib here:
http://www.soultek.com/clean_energy/hybrid...hybrid_cars.htm
seems to confirm this.

Buy one. Especially if you can get one before the tax credit is halved after September 30th. Shop around, find a good auto loan (try credit unions, in particular), and go shopping.

Wish you luck... and if you're dead set on leasing, try calling dealers (it'll take quite a few, I'm sure) and eventually you should be able to find one.

[RichBoy]

leasing is NOT a good deal.

[azzieo]

<div class='quotetop'>QUOTE(RichBoy @ Aug 15 2006, 10:41 PM) [snapback]303894[/snapback]</div>

leasing is NOT a good deal.
[/b]

Well... that's both untrue and irrelevant to the topic. There's bad purchase deals and there's bad lease deals, and there's good ones. It seems that lease is harder for people to negotiate and/or understand, which results, generally, in people more often getting screwed by the car dealers, which results, generally, in your "leasing is NOT a good deal" opinion. Other then that - it's just math, same as regular financing, and if the numbers are good - the deal is good too.

[InfideNino]

<div class='quotetop'>QUOTE(azzieo @ Aug 11 2006, 07:00 PM) [snapback]301547[/snapback]</div>

Has anyone leased their Prius and if yes - what's the residual and financing % on it?
Thx!
[/b]

I ordered my first Prius from my lease company yesterday. Probably not much help to you since I live in The Netherlands, but I thought I'd post it anyway. I'm not sure what residual and financing % mean, but I'll tell you what I'm paying. New price for the car is €33,937.25 ($43,100). This is the Prius Tech Edition (with nav and IPA ) with metallic paint, including VAT and everything the dealer does. Lease costs are €1,049.32 ($1,333) per month including VAT and fuel and everything, based on 30,000 km per year for 42 months. This might seem expensive to you, but keep in mind fuel is around €1.45 / liter ($7 / gallon) here.

[eagle33199]

<div class='quotetop'>QUOTE(azzieo @ Aug 16 2006, 01:29 AM) [snapback]303952[/snapback]</div>

Well... that's both untrue and irrelevant to the topic. There's bad purchase deals and there's bad lease deals, and there's good ones. It seems that lease is harder for people to negotiate and/or understand, which results, generally, in people more often getting screwed by the car dealers, which results, generally, in your "leasing is NOT a good deal" opinion. Other then that - it's just math, same as regular financing, and if the numbers are good - the deal is good too.
[/b]

just out of curiosity, how is leasing a good deal? it seems to me that, with the fairly high resale value many are getting with the prius, it will overall cost less to buy the car and later sell it... from my experiences, leasing deals will generally have you paying about the same per month as financing, and in the end you have to give the car back!

Even ignoring the potentialy turbulent sales prices for used cars, which is better: leasing and having to give the car back after shelling out a ton of money, or shelling out the same amount of money but keeping the car twice as long and running it into the ground?

Also, it's not irrelevant to the topic - the topic is "Prius Leasing". it simply didn't answer your question.

I'd love to see this math you use to show that leasing is a good deal.

Also, check out: http://www.toyotafinancial.com/estimator/t...14#displayPoint

Toyota provides a side by side comparison of financing versus leasing payments. When you consider the fact that financed, you can keep the car for 10 years with a low probability of anything going wrong (and you have the extended warrenty if it does), the financing costs really are lower than the leasing.

for a 3 year lease on a $22k prius, you pay 64% (14k) of the cost of the vehicle... and yet they can turn around and sell the car for a KBB of $19k! Financing instead, you pay a total of $25k, and at the end of three years have a KBB trade in value of $14k, for a total cost of ownership of $11k... or a private party KBB of 16k, for a total cost of ownership 9k.

Heck, even after 5 years ownership, you can still get a trade in value of $10k, and yet the difference between financing payments and leasing payments is only 6k...

So, where's your math?

[riva]

The best leasing deals are usually subsidized by the manufacturer, and Toyota is not offering any leasing support on the Prius at this time.

Another reason leasing rates are not good for the Prius is because the residual is well below 50%, from what I discovered. Not sure why there's such a disconnect between the Prius residual and it's (currently) high resale value. Anyway given the low residual and standard cost/money factor (which will vary on your credit rating of course), I think most people will agree that there are no good leasing deals available for the Prius at this time. Of course some people may find other advantages to leasing, vs buying, but that's a whole other topic. My 2 cents.

[azzieo]

<div class='quotetop'>QUOTE(eagle33199 @ Aug 16 2006, 08:52 AM) [snapback]304031[/snapback]</div>

So, where's your math?
[/b]

eagle33199, it's not really MY math... it's a formula that I'm sure you can google yourself. Certain conditions are needed for that formula to produce a "good deal"

- high residual (very often, as Riva mentioned, that's an artificially inflated or deflated by the financing company number, which has little to do with the real residual value. If Toyota Financing uses 40% for the Prius, obivously that won't come out as a good deal, and it simply says that Toyota wants to discourage people from leasing. In other cases.. e.g. Jeep - the manifacturer "sponsors" that number, so even though a car may have 30% real value after 3 yrs, the one used for the lease calculation may be 55%)

- healthy difference between the MSRP and the actual price (the residual value is based on MSRP, so for example my Camry had 22K msrp, and 54% residual, but I negotiated 18K price. I'd have to pay the diffrence of 18K-11.8K=6.2K, which in fact is less then the actual depreciation of that car.....)

- good financing - car dealers use "money factor" when they talk about lease, and I've seen many people being screwed by their assumption that money factor is APR.. it's not. 5.9 "money factor" is 14%+ apr..

- no "lease fees".. some have those and some don't...

anyway... - it seems like Prius isn't doing well on any of these so it'll have to be a purchase.

[azzieo]

<div class='quotetop'>QUOTE(riva @ Aug 16 2006, 11:47 AM) [snapback]304149[/snapback]</div>

The best leasing deals are usually subsidized by the manufacturer, and Toyota is not offering any leasing support on the Prius at this time.

Another reason leasing rates are not good for the Prius is because the residual is well below 50%, from what I discovered. Not sure why there's such a disconnect between the Prius residual and it's (currently) high resale value. Anyway given the low residual and standard cost/money factor (which will vary on your credit rating of course), I think most people will agree that there are no good leasing deals available for the Prius at this time. Of course some people may find other advantages to leasing, vs buying, but that's a whole other topic. My 2 cents.
[/b]

Thanks Riva...Probably they use such low % because they don't need to take any chance. With the high demand out there, they can transfer all risks to the buyers. Realistically - we can't use the numbers from the past 4-5 years to predict the value of a 2006 Prius in year 2010... There are so many new hybrids and there'll be more. Hopefully - there'll be plugin hybrids by then. Maybe Bush will find oil in his backyard, and price of gas will go back to $1. I don't know... And when I don't know, I'd rather have someone else take the risks, but Toyota seems to have come up with the same thought