December buyers

first time poster here also in the market to get into a 2010 Prius... This was the lease offered to me today:

2010 Prius II
36m
$1350 down
$392 (tax included)

Is this a good lease for a $22000 car? I mean, the Prius is cool and all, but cloth and no CD changer? I haven't had a car this bare boned since my 87 Civic! Any advice would be greatly appreciated.

 

i'm not sure why you want to wait... if the dealer has the car you want, and you can get the price you want... then buy it? i got a Prius IV for $1,350 under MSRP and i didn't wait have to wait.

if you're at $500 below MSRP, what will it take to get you to buy? $1000 below MSRP? more?

just curious.

 

I never lease -- cars stay in the household for well over a decade, often two decades -- so don't know the going rates. But to do a financial analysis, you'll have to include the residual value.

 

Anyone know the Residual Value of a 2010 Prius II? I know I should have asked but I totally spaced...

 

Not a good deal..... you will be paying $3060 too much plus the tax. Your payment should be aprox $305.00 per mo. with a residual value of $11,000.00 What did they say you could purchase the car for at the end of the lease? Your payment equal $15,462.00 If you buy at the end of the lease... you will pay $26,462.00

If you have to lease get what you want for options etc. Don't get a bare bone III would be better. You will get your CD player and better audio system.

This is a poor lease. You can do better. Most leases are cut at 106% of MSRP

 

Friend of mine in Philly is getting her 2010 P-IV for $1000 under msrp. She's picking it up later this week.

 

I'm gonna buy too. I think I've convinced my sister too as well. I went to the Wondries Toyota in Alhambra and they had about 20 on the lot! This is my month for suresies. Let me know where you plan to buy or if you know of any other dealerships with a big inventory. I think right after Chirstmas is perfect. I think most people overspend and don't want to extend themselves into car payments. And I did the math. The Prius will save me more than $100 bucks in gas a month, easy. That makes my payment that much easier to take! I want to buy one tomorrow but am enjoying that last few weeks with my car before we part.....

 

My 2007 Prius just proved an old axiom - 2 objects cannot occupy the same space at the same time. Unfortunately, the young girl in the jeep commander didn't know that rule as she proceeded to try to go through my car while making a left turn across traffic. So now I'm going to be in the market for a 2010 lease 6 months earlier than expected. I'm looking for a IV with sunroof and was wondering what people are paying for 3 year 15K leases.
BTW - the side airbags work great. Everyone was amazed I walked away without a scratch.

 

Oh God, Rich! I'm glad you're ok. The car can be replaced. (And, if you wanted an upgrade that badly, there are better ways to go about getting one. )

 

Everyone seems to be defining MSRP differently on the forum. So when you say 500 off MSRP can you give a figure? Thanks

 

If everyone is thinking your logic, which by the way makes good sense, then supply will outweight demand yet again. I say go for it now!

 

It just goes to show, you've got to be nuts to pay OVER MSRP on a Prius (or any car for that matter).

 

Then 500 off MSRP isn't that great of a deal. I got my car in Oct and paid 1200 off MSRP for a package II by your standards.

 

Just got my new Prius II.
It was a lease deal....
I have been leasing for 20 years with no problems...Why do I lease? - Because I like to drive more car than I can afford and I like to change my cars often...I was taught that if you are not willing to drive your car 1-year beyond your last payment you should have leased in the first place.
For those who are lost in the financial complexity of leasing and simply take advertized offers I offer my rules for leasing...I am not a banker so always seek the financial advice of other more qualified than me but following these rules I sleep at night:
Rule 1 - Always ask for a true 0 money down sign and drive. Even if one is not advertised one can always be created.
(This eliminates a lot of number complexity when evaluating the deal.) Remember a 0 money down sign and drive lease means everything including first month payment and taxes is included in that monthly payment.
Rule 2 - Lease only if you have good credit!
Rule 3 - In my opinion upping the milage from 12K is usually not worth it..do the math first.
Rule 4 - Set a monthly lease payment goal: First I check the cost to purchase on a 6 year loan with 0% down. Use Edumnds or Kbb to get vehicle purchase price with options then I use Edmunds auto loan calculator to figure out payments with tax and plug in $0 down.
What I look for on a 0 money down sign and drive lease is a monthly payment of about 85% of the payments on a 0 money down 6 year purchase.
Rule 5 - Dont forget to look at disposition fee and purchase option costs and fees...these are always negotiable too! My last lease I eliminated the $350.00 disposition fee (remember this is basically a trick to replace the first payment you rolled into the lease).
Rule 6 - Take decent care of the car after you lease it. You will need to turn the car in with good tires so replace them and get some good safe driving wear on them...dont run them to bald. Wax and clean the car as if you owned it..just because you are renting the clothes dont walk around in them dirty. Normal wear and tear is acceptable and leasing companies want you to lease again...Minor dings and scratches are usually ok and don't loose anything. headreasts etc.

 

So how did you do?

 

You guys in SoCal should go to Toyota of Hollywood and check in with their internet guys, Ali Sepehri and Reza Laleh before you buy anywhere else. They were very straightforward with me, no hard sell to try to get me to buy something I didn't want, and gave me a GREAT deal well below MSRP. And we made the deal in July when other dealers were not budging on the price at all and were also lying to me about the MSRP, one dealer told me it was $2000 more than it was! Took four months for Toyota to make the car I wanted, and I still got the same deal. I really had a great experience at Toyota of Hollywood. Tell them I (Nina) sent you and they should hook you up.

And I wouldn't lease a car. You end up really losing money, just buy it.