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Prius Three 2013 Lease Deal...tell me if you think is a good deal

Discussion in 'Dealers & Pricing' started by kpence73, Mar 8, 2013.

  1. kpence73

    kpence73 Junior Member

    Joined:
    Aug 1, 2010
    15
    0
    0
    Location:
    Georigia
    Vehicle:
    2010 Prius
    Model:
    III
    Ok, So I have a 2010 Gen III right now and my lease is up in 4 months. I will go over my miles in 2 though. So I am looking now so that I don't feel pressured and trapped on what I need to do (too late..read on).

    My local dealer has worked up a lease package and I would like your input on whether it is a good deal. First let me explain the new Georgia vehicle tax law that went into effect on March 1, 2013. You know how on a lease you pay the sales tax on your monthly payment. The monthly payment is based on about 30% of the sticker price spread over 36 months so sales tax is only $16 for me right now. My current payment is $269+16 = $285/month. Up until 2 weeks ago, you had to pay the state of Georgia about $300 every year on your birthday for what they called the Ad Valorum Tax. The new law gets rid of that and now you have to pay a flat 6.5% sales tax on the ENTIRE sticker price for a lease even though your total lease period payment totals about 30% of the sticker price. The leasing company has to pay the state up front and then it is split over your lease period.

    Ok, so this is the deal they came up with:
    • A check for $1750 to me to pay the remaining months on my lease (they have of course rolled that into the new deal)
    • 2013 Prius Three. with nav system but no sun roof
    • $0 down
    • $280/month plus the state tax brings my monthly payment to $329
    • I pay first month payment out the door.
    I can wait until my current lease is up in 4 months, but I don't know what the lease incentives will be. Right now they are in the "march madness" for Toyota...even though I know there is a April Madness, May Madness, June..... So I am torn right now on this. Looking at other makes and models would be pretty much the same deal. This deal is only $11 more than my current payment, but the tax is so much higher making the monthly check higher.

    I also checked my gas purchase history in the last 5 months to see if I am in fact saving money on gas. I have spent approximately $52 a month in gas over the last 5 months, but lately have been driving much more than 1000 miles/month...thus my issue with going over my mileage limit.

    Other hybrids are too high (Jetta, Fusion, Sonata) or are the same sticker as the car I am looking at. The tax issue will happen no matter what make I get.

    Input? thoughts?
     
  2. varun

    varun Junior Member

    Joined:
    Feb 26, 2012
    25
    2
    0
    Location:
    Phoenix,AZ
    Vehicle:
    2013 Prius v wagon
    Model:
    Three
    My rav4 lease just got over ,but bought my car because residual and mileage was low, will sell it to private party.TFS has $1000 lease coupon for my next lease ,because of12k miles limit looking at buying Prius V 3 and take 1.9% Apr 36/60 months offer .


    cm_tenderloin ? HD
     
  3. Prius x Gawd

    Prius x Gawd New Member

    Joined:
    Jun 20, 2012
    10
    0
    0
    Location:
    San Pedro, Los Angeles , USA
    Vehicle:
    2013 Prius
    Model:
    Persona
    Looks like you already got your Prius V ? :)
     
  4. varun

    varun Junior Member

    Joined:
    Feb 26, 2012
    25
    2
    0
    Location:
    Phoenix,AZ
    Vehicle:
    2013 Prius v wagon
    Model:
    Three
    Yes 1 week old 52mpg luv it ;)
     
  5. Prius x Gawd

    Prius x Gawd New Member

    Joined:
    Jun 20, 2012
    10
    0
    0
    Location:
    San Pedro, Los Angeles , USA
    Vehicle:
    2013 Prius
    Model:
    Persona
    Highway , city, combined?