Year, Make, Model, and Trim: [2017 Toyota Corolla LE]
MSRP: [$20,044]
Selling Price: [$17,225]
Rebates: [$1000 lease cash]
Trade-in: [$0]
Months: [36]
Annual Mileage: [12,000]
MF: [.00064] (.00002 after 9x MSD of $175 each)
Residual: [$11,826]
Security Deposit: [$1575]
Total Due At Signing: [$1,735.45]
Monthly Payment (incl. tax): [160.45]
Zip Code: [63105]
Sales Tax Rate: [8.613%]
Total Due At Signing includes the MSDs, right?
Correct, I only made my first payment plus the refundable MSDs upon delivery.
$160.45 monthly payment + $1575 refundable MSD = $1735.45
Why don’t you get 2016 Kia Optima for a few dozen bucks more ?
In SoCal : received an offer of $156/mo with $0 drive off. All fees rolled into monthly payment.
Similar MSRP, same $1000 lease cash.
36mo/12k
MF : 0.00001
Is that MF correct?..
Which dealership is that?
Hamer Toyota in Missions Hills CA
Prefer a smaller vehicle and wanted the Toyota Safety Sense suite of features (Forward Collision, Lane Keep Assist, Auto High Beams). I was going to get a Hyundai Ioniq Blue which I was able to negotiate down to $205/mo with ZERO down however wanted something with forward collision and that I can transfer when Model 3 comes out. Also, insurance was significantly higher on the Ioniq as it is so new and underwriters don’t have many points to go off. Finally, someone in my household had a Lexus lease to get out of and this also allowed us to get around the dispo fee on the Lex lease.
This is in the greater St. Louis area…I came here from Boston and it is definitely less competitive for consumers so presumably dealers have much higher grosses and move lower volumes of units. The programs in this region (Kansas City) are not as rich.
Do you get Loyalty cash on this deal since you are returning a Lexus ?
No loyalty lease cash on a Corolla per the dealer. I doubt many people go from a Lexus ES to a Corolla.
Toyota Safety Sense is the key here, no other car manufacturers will put that as standard feature. Rent a Corolla for a road trip earlier, I was very impressed, the adopted cruse control works very well(works better than my i3, which cost more than twice of the MSRP sticker), and the lane keep assist bring the car back when i leave my hands off the steering wheel. the LED headlight is a big plus too. Corolla aim for practicality, not how cool it really looks. Great car to go A to B, so you can focus on what the matter the most in life. Just called, no loyalty cash for returning a Lexus.
Wow, I am coming from an i3 myself! I had a 2014 BEV (Mega Solar Orange, only option heated seats), but needed something imminent and did not want to drop $1000+ for the new tires my vehicle needed both for safety and barely passed AutoVIN inspection. After only driving hybrids and two BEVs for the past decade it’s definitely an adjustment but only an interim step. I have a deposit down for a TSLA Model 3 and am waiting for Bolt both be available in this area and have more aggressive deals. Back home in MA it seems they are piling up on the dealer lots even with the MOR-EV $2500, the Bolt doesn’t have much lease cash. Far from ideal, but I figured the Corolla would be fairly easy to flip and is so cheap that I could justify having two cars once one of the EVs I want becomes available.
Now the only challenge is understanding what the implications of the MSD with Toyota are for a lease transfer. My guess is it transfers to the transferee but like I said even if I can’t get out of this it is such a small part of my financial world that I can justify keeping it through the term and it is a nice little car.
You’re going to be at the tail end of model 3 distribution fyi. You won’t see cars until Q2 2018.
yea, after my fiat 500e and i3 REX, I decided to go with something that’s easier to run, fighting over charging station isn’t very fun and now a days people don’t move their car once they are done charging which is very frustrating. I think Toyota’s MSD is the same concept as BMW’s, but I mean even without the MSD it’s $160 already a very low bill. Can’t really go wrong either way. I am also waiting for the Model 3, but most likely we won’t see it until Q2 2018, so still a long wait to go. If I didn’t jump on the Cruze last month, I would totally jump on this Toyota Corolla. It has so much more standard feature than the Cruze. The LED headlight is just like our i3’s LED headlight beside it won’t turn but it illuminate the road like no one else. I just asked, for 36mo/15k it’s 164 a month, with 0 due at sign, which is terrific deal but Toyota Financial does not includes GAP insurance though, something that need to think about.
Payment was ~$180 before MSD with the .00064 MF
So you too went from i3 to ICE. Curious what Cruze trim and what payment? Guessing you are in So Cal. As I said St. Louis is a terrible place to buy a new or used car, there is a cadre of about four “family owned” household names that people in this area flock to all of which are high grossing but lower volume. There aren’t 1000 unit month Longo type dealers let alone Autonation or high volume publicly traded outfits that blow out units. I was prepared to go to Chicago or Atlanta but found a dealer locally that wanted to move metal, don’t think I’d save that much more and my time is more valuable than a long road trip.
Order placed 03/2016 but I suppose you’re right.
I’m actually in SF Bay Area, My Cruze was $700 due at sign(DMV fee, doc fee, etc) and $156 a month with wear and tear protection. I want to drive it like a rental car, don’t want to worry about it too much. i3 scares me with the plastic body, after only 1 month of owning it, I saw so many little scratches, and the narrow tire around my area worries me too. Feel like Bay Area does not deserve BMW i3, too many potholes and bumps. If today I live in somewhere with super smooth road. then I’ll love my i3 even more with no doubt.
Can you tell me which dealer offered 16X.00/mo for 15k miles?