I am shopping for a lease on a 2017 Toyota 86 (formerly called the Scion FR-S). There is only one trim level – “base” – and I am planning to get the automatic transmission. (Manuals are great, but I will spend quite a bit of time stuck in traffic.)
This is the best deal I have been quoted so far on a 2yr lease with 12000mi/yr:
MSRP: $27,840
Selling price: $25,140
Residual: 69%
Money factor: 0.00130
I am thinking of seeing whether any of the dealers in my area would do the above deal with a selling price of $24000. Some of the inventory has been sitting on the lot for quite a while.
Thoughts? Ideas on whether this is a good deal, and how to do better?
P.S. It’s hilarious how bad Subaru’s lease program is. For a nearly identical car (Subaru BRZ), they are offering a residual of 61% and a MF of 0.00340.
You could get the Toyota MF basically down to 0 with MSD’s. You shouldn’t have too much trouble getting an 86 for closer to your 24k than the $25k listed but you should just check True Price for your area.
Why is Subaru’s 61% residual and .000340 MF bad again? That is an incredibly low money factor and generally high residual for a sport car (albeit only 2 year I assume).
To your question:
The Toyota 86 and Subaru BRZ are produced in a joint project by Toyota and Subaru. They are essentially identical, but one has a Toyota badge and the other has a Subaru badge. I just find it funny how different the lease terms are between these cars.
For Toyota is MF=0.000130 a reasonable number before adding MSDs? Or, can I negotiate lower on the MF prior to adding MSDs?
MF mentioned is likely the best you can do (assuming Tier 1/1+) and at even at 0.000130 that translates to a 0.3% APR. You could add a maximum of 2 MSDs to bring the MF to 0.00001 (you can’t go negative )
)