I have a 2016 Camry SE that I’m leasing for $255 (I put $0 down on it). The lease ends in January. I went looking at a 2018 Civic EX and a 2019 Camry SE this past weekend and the prices they were asking for a monthly lease were crazy.
For the Civic they wanted $3500 down at $341 a month and for the Camry $2500 down at $350 a month. They both told me the reason why the prices were so high was because my current lease is only worth $14,000 (even though I only have 15,000 miles on it). If they were to buy it out and the payoff amount is $18000 on the vehicle. So it looks like they are adding the additional $4000 to my new lease at this time. I was told it would be best to make my final lease payment on the 2016 Camry in December and then come back later that month where they can give me a much better offer. Do dealers typically have aggressive years end deals? The Toyota sales guy told me the reason I got such a good deal on my 2016 Camry was because I leased it on the final day of their fiscal calendar and the dealer ate $5000 and added the $1700 they wanted as a down payment to the buyout offer at the end of the lease.
I’m only really looking to put $0 down, do you think it’s possible to get a Civic ex at under $240 in December with $0 down? My credit score is near perfect FYI. I really like the Civic ex more than the Camry se but the Civic ex is also about $4k cheaper than the Camry so I really would want to get it at around $221 a month with zero down.
This sales guy is full of BS. They did not eat $5000 and they cannot adjust the residual/ buyout offer. He is just trying to make excuses to get you into a poor lease. Wait until your lease is up and shop in December
Thank you! I read on here the rule of thumb for a good deal is zero down and 1% of the msrp a month for a lease which is what I got my current Camry for. I have no clue how these dealers are telling me my 2016 Camry se with only 15,000 miles on it is worth $14,000. I would think they could sell that vehicle for about $20k or $21k, they would be making a profit buying it out from me.
Realistically speaking, for someone with my credit score and no car lease to make final payments on, what do you think I can get for a monthly lease on a Civic ex and Camry se?
Not sure where you get $20-21k for a Camry from considering some people negotiated purchase prices of 2016 Camrys that low in December 2015. The most they could sell it for is probably $18k and that includes the cost of the CPO warranty so they’re only getting $17,500 or less. The cost to recondition the car can be significant and they have to pay to have it on their lot. $14k is more than fair for trade in. As to what you should pay… It isn’t December yet so nobody knows. Your lease isn’t up so there’s no point in shopping now unless an amazing deal comes up
Thanks for the clarification. Yeah I’m going to shop around late December (the week before or after X-mas). My main goal is to stay at or under $250 a month with zero down. If I’m desperate I’ll put $500 down if I can get a Civic ex at $220-$230. I think the 2019’s come out that month.
I was wrong, it was zero down I think at $350 a month and $250 a month with $2500 down I think.
The sales man said “Well the Civic holds a 56% residual value so you can always trade in your car every year!” I told him you want me to pay 54% of the vehicle over 3 years, that’s a huge ripoff. I’ll keep my current Camry for now.
It might? I don’t know I just did quick math lol. Bottom line was it isn’t a good time to make a deal until my final 3 payments on my lease are paid off, one of which I have to make this week.
Come back here in December since the “deals” change every month due to different bank terms and manufacturer rebates. At that time, look at some of the example deals that are in the forums and we can help you lol. No reason to trade your lease in or eat a single dollar.
You may also want to consider buying lightly used/CPO with high residual value since you don’t use all of the miles that you’re paying for. 15k miles over 3 years at $255/mo = $0.61/mile.
i don’t think “overpaying” is the right term because both deals are good. $215 is better than $255 but I think $255 is a respectable offer with zero down for a Camry SE.
I didn’t overpay at all. You got an extremely good deal which was probably very hard to find, not to mention we live in entirely different states. You really can’t compare. I also traded in my 2013 camry which had 4 payments left on it with a $350 disposition fee that the dealer paid off. I’m very happy with my deal.
The dealer didn’t pay anything off. Absent pull ahead rolled those payments into your lease. The disposition fee wasn’t paid off, its waived if you get another Toyota.
I don’t believe so. $215 with zero down on a $25k car is very good, the person who shared the screen looks like it’s from the dealers end although he may of just snapped a pic.
