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24 Month Leases on Prius Plug-In?

Discussion in 'Dealers & Pricing' started by Crankykentucky, Jul 23, 2013.

  1. Crankykentucky

    Crankykentucky Junior Member

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    This might be old news to many of you, so I apologize for any redundancy here. But, what are your thoughts about a short lease like this on a Plug-In?
    Fred
     
  2. -1-

    -1- Don

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    :)I assume a 24 month lease is available. Sounds perfect for anyone contemplating a new Prius Plug In. With the Generation 4 Prius due as a 2015 or 2016 model, assumed greater EV range, makes sense. Also consider some great deals on used Plug Ins.
     
  3. ItsNotAboutTheMoney

    ItsNotAboutTheMoney EditProfOptInfoCustomUser Title

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    Your state's sales and excise tax rules determine whether 24 month leases are particularly expensive. It's a new car every two years.

    Toyota's not generally as aggressive on the leases as other plug-in manufacturers, so unless you're absolutely wedded to the PiP compare it to any Volt (or CMax depending on driving distances) deals you could get.
     
  4. bisco

    bisco cookie crumbler

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    it's all about the money, isn't it.
     
  5. Crankykentucky

    Crankykentucky Junior Member

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    Yeah, this is crazy. The leases actually look better that conventional financing!
     
  6. Dan Cathy

    Dan Cathy Junior Member

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    The lease may look better but you don't own the car at the end of the lease. From my understand, when you lease a car, it's like renting a car for long term, you're paying for the depreciation of the car plus other charges. You don't own it unless you decide to buy it at the end of the lease.
     
  7. markabele

    markabele owner of PiP, then Leaf, then Model 3

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    Consider this....

    80+% of millionaires buy instead of lease. You may say this is because they can better afford to buy but I think the real logic would tell you because they understand money and finances better, hence their wealth.
     
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  8. Lourun

    Lourun Member

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    If I were a millionaire, I won't have to lease.
     
  9. markabele

    markabele owner of PiP, then Leaf, then Model 3

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    You could also make the argument....

    If you have to lease and can't afford payments on a new car...should you really be buying or leasing a new car? Much smarter to buy used anyway.
     
  10. Lourun

    Lourun Member

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    Yes, but its so nice to have a new car every 3 years.
     
  11. markabele

    markabele owner of PiP, then Leaf, then Model 3

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    And that's fine, as long as you know you are paying a crap ton of money for that luxury.
     
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  12. Lourun

    Lourun Member

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    I don't see it that way, I'm paying 15,740 over 3 years to drive a $ 33,000 car, and don't have to worry about long term Maint. And replacement parts.
     
  13. markabele

    markabele owner of PiP, then Leaf, then Model 3

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    So it costs you 35 cents per mile to drive it.
    At that rate when someone bought a new PiP at $30k it would be worth $0 before 86,000 miles.

    You are paying for a luxury. There is absolutely no other way to look at it.
     
  14. Dan Cathy

    Dan Cathy Junior Member

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    That explains why some people are the 1% and some are the 99%
     
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  15. Lourun

    Lourun Member

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    Dan so which am I?
     
  16. Dan Cathy

    Dan Cathy Junior Member

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    Most of the 1% don't lease, they own
     
  17. Crankykentucky

    Crankykentucky Junior Member

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    Hey, this is a fantastic thread. I really appreciate the input. Ok, most of these points were brought up to the finance manager a highly rated (Angie's List, for one) Toyota dealer. He said he normally likes financing and would steer a member of his family that way, except in the case of the Prius and Camry Hybrid money Toyota allows on leases. I think the big campaign on the Camry Hybrid might be over, but there was some big money on their leases on top of the tax rebate deal described above. The finance manager said that the idea of a good lease is to put the least amount down and pay the lowest payments for the duration of the lease. Then, you are out before "baby needs new shoes!"
    My original dealer says he can get me close to new car finance rates on my 2010 and I can just keep her. But, we haven't tossed around the numbers yet. I need to research some things--hence the CMax interest.
    A friend of mine went off of the lease wagon and bought a certified used Mini Cooper at the end of his lease. He said he will eat the mileage difference because the used Mini was lower price than his leased car to buy.
    So, if I go the used route, do I stick with a Toyota dealer or go over to Carmax where they will buy my 2010 at the same time I buy something off of their line. I have some work that involves rental cars and I know too much about how they are treated, so I don't want another rental car return.
    Thanks again!
    Fred
     
  18. bisco

    bisco cookie crumbler

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    my head hurts.:confused:
     
  19. ItsNotAboutTheMoney

    ItsNotAboutTheMoney EditProfOptInfoCustomUser Title

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    :D

    Well, there's also the known, limited financial commitment with the potential to avoid a big resale hit when a in 2 years time the Gen 4 or Volt 2.0 are released. Oh, crap. There I go again.
     
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  20. retired4999

    retired4999 Prius driver since 2005

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    Which part the 1% or the 99%. :D
     
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