1. The site is migrating to a new server this week, so there will likely be some downtime during that process. You can follow along here for updates.

24 Month Leases on Prius Plug-In?

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

Page 1 of 2
  1. Crankykentucky

    Crankykentucky Junior Member

    Joined:
    Aug 28, 2010
    65
    8
    0
    Location:
    Midwest
    Vehicle:
    2010 Prius
    Model:
    III
    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
     
    #1 Crankykentucky, Jul 23, 2013
  2. -1-

    -1- Don

    Joined:
    Jan 16, 2013
    1,247
    434
    8
    Location:
    Chester, Virginia
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Advanced
    :)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.
     
    #2 -1-, Jul 23, 2013
  3. ItsNotAboutTheMoney

    ItsNotAboutTheMoney EditProfOptInfoCustomUser Title

    Joined:
    Jul 18, 2009
    2,287
    460
    0
    Location:
    Maine
    Vehicle:
    2010 Prius
    Model:
    II
    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.
     
    #3 ItsNotAboutTheMoney, Jul 23, 2013
  4. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    105,422
    47,822
    0
    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    it's all about the money, isn't it.
     
    #4 bisco, Jul 23, 2013
  5. Crankykentucky

    Crankykentucky Junior Member

    Joined:
    Aug 28, 2010
    65
    8
    0
    Location:
    Midwest
    Vehicle:
    2010 Prius
    Model:
    III
    Yeah, this is crazy. The leases actually look better that conventional financing!
     
    #5 Crankykentucky, Jul 23, 2013
  6. Dan Cathy

    Dan Cathy Junior Member

    Joined:
    Jul 17, 2013
    126
    9
    0
    Vehicle:
    2012 Prius
    Model:
    Three
    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.
     
    #6 Dan Cathy, Jul 23, 2013
  7. markabele

    markabele owner of PiP, then Leaf, then Model 3

    Joined:
    Mar 27, 2012
    5,084
    1,782
    1
    Location:
    Nebraska
    Vehicle:
    2018 Tesla Model 3
    Model:
    N/A
    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.
     
    #7 markabele, Jul 23, 2013
    3PriusMike likes this.
  8. Lourun

    Lourun Member

    Joined:
    Apr 8, 2011
    289
    35
    0
    Location:
    Glen Rock NJ
    Vehicle:
    2013 Prius Plug-in
    Model:
    Plug-in Base
    If I were a millionaire, I won't have to lease.
     
    #8 Lourun, Jul 23, 2013
  9. markabele

    markabele owner of PiP, then Leaf, then Model 3

    Joined:
    Mar 27, 2012
    5,084
    1,782
    1
    Location:
    Nebraska
    Vehicle:
    2018 Tesla Model 3
    Model:
    N/A
    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.
     
    #9 markabele, Jul 23, 2013
  10. Lourun

    Lourun Member

    Joined:
    Apr 8, 2011
    289
    35
    0
    Location:
    Glen Rock NJ
    Vehicle:
    2013 Prius Plug-in
    Model:
    Plug-in Base
    Yes, but its so nice to have a new car every 3 years.
     
    #10 Lourun, Jul 23, 2013
  11. markabele

    markabele owner of PiP, then Leaf, then Model 3

    Joined:
    Mar 27, 2012
    5,084
    1,782
    1
    Location:
    Nebraska
    Vehicle:
    2018 Tesla Model 3
    Model:
    N/A
    And that's fine, as long as you know you are paying a crap ton of money for that luxury.
     
    #11 markabele, Jul 23, 2013
    ewxlt66 likes this.
  12. Lourun

    Lourun Member

    Joined:
    Apr 8, 2011
    289
    35
    0
    Location:
    Glen Rock NJ
    Vehicle:
    2013 Prius Plug-in
    Model:
    Plug-in Base
    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.
     
    #12 Lourun, Jul 23, 2013
  13. markabele

    markabele owner of PiP, then Leaf, then Model 3

    Joined:
    Mar 27, 2012
    5,084
    1,782
    1
    Location:
    Nebraska
    Vehicle:
    2018 Tesla Model 3
    Model:
    N/A
    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.
     
    #13 markabele, Jul 23, 2013
  14. Dan Cathy

    Dan Cathy Junior Member

    Joined:
    Jul 17, 2013
    126
    9
    0
    Vehicle:
    2012 Prius
    Model:
    Three
    That explains why some people are the 1% and some are the 99%
     
    #14 Dan Cathy, Jul 23, 2013
    mmmodem likes this.
  15. Lourun

    Lourun Member

    Joined:
    Apr 8, 2011
    289
    35
    0
    Location:
    Glen Rock NJ
    Vehicle:
    2013 Prius Plug-in
    Model:
    Plug-in Base
    Dan so which am I?
     
    #15 Lourun, Jul 23, 2013
  16. Dan Cathy

    Dan Cathy Junior Member

    Joined:
    Jul 17, 2013
    126
    9
    0
    Vehicle:
    2012 Prius
    Model:
    Three
    Most of the 1% don't lease, they own
     
    #16 Dan Cathy, Jul 23, 2013
  17. Crankykentucky

    Crankykentucky Junior Member

    Joined:
    Aug 28, 2010
    65
    8
    0
    Location:
    Midwest
    Vehicle:
    2010 Prius
    Model:
    III
    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
     
    #17 Crankykentucky, Jul 23, 2013
  18. bisco

    bisco cookie crumbler

    Joined:
    May 11, 2005
    105,422
    47,822
    0
    Location:
    boston
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    my head hurts.:confused:
     
    #18 bisco, Jul 23, 2013
  19. ItsNotAboutTheMoney

    ItsNotAboutTheMoney EditProfOptInfoCustomUser Title

    Joined:
    Jul 18, 2009
    2,287
    460
    0
    Location:
    Maine
    Vehicle:
    2010 Prius
    Model:
    II
    :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.
     
    #19 ItsNotAboutTheMoney, Jul 23, 2013
    bisco likes this.
  20. retired4999

    retired4999 Prius driver since 2005

    Joined:
    Aug 11, 2011
    2,652
    624
    15
    Location:
    Eau Claire, Wi.
    Vehicle:
    2012 Prius Plug-in
    Model:
    Plug-in Base
    Which part the 1% or the 99%. :D
     
    #20 retired4999, Jul 23, 2013
    bisco likes this.
(You must log in or sign up to post here.)
Page 1 of 2
Loading...
Similar Threads - Month Leases Prius
  1. tgpii

    0% for 84 months?

    tgpii, Apr 21, 2020, in forum: Dealers & Pricing
    Replies:
    13
    Views:
    6,826
    FroggyTaco
    Jan 27, 2022
  2. azzieo

    24 month lease 2014 Prius 2 - $245/month

    azzieo, Dec 30, 2013, in forum: Dealers & Pricing
    Replies:
    11
    Views:
    2,077
    JC91006
    Dec 31, 2013
  3. eileen2134

    sale this month

    eileen2134, Sep 24, 2013, in forum: Dealers & Pricing
    Replies:
    17
    Views:
    1,580
    Michael33
    Sep 27, 2013
  4. lolabelle

    SoCal 2008 Prius, Package #6, 3-year-lease up to $450/month -- Good deal or not?

    lolabelle, Aug 26, 2007, in forum: Dealers & Pricing
    Replies:
    20
    Views:
    6,934
    skyking9
    Jul 30, 2009
  5. SteveMPotter

    24 month lease monthly payment?

    SteveMPotter, May 21, 2007, in forum: Dealers & Pricing
    Replies:
    2
    Views:
    7,796
    Uddhas08
    Dec 20, 2007