Year, Make, Model, and Trim: 2021 Toyota Camry SE Sedan
MSRP: $26.500
Selling Price: 26.500
Monthly Payment: $ 457
Drive-Off Amount: $ 0
Months: 36
Annual Mileage:10k
MF:0.0094
Residual:
Incentives: 0
Region: MD
I’m pretty new to lease hacking and don’t know how to evaluate this deal, any help is appreciated.
This is a full sticker price deal from the looks of things. That’s not good.
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
You need to put in a lot more work if this is the best you came up with, or get a quote from @Jrouleau426, he is only a few hours away and can put together an aggressive deal on a Camry
2 Likes
IThat’s an atrocious down right bad bad bad bad bad bad deal. $450+ for a camry SE, I don’t care how low inventory is, step far far far Farrrrr away from that payment. Dealers are really trying to fu#k the consumer these days due to low inventory. Don’t get stuck with a 450 dollar a month payment because in reality that car is worth at most $265 a month with 00000 due at signing.
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Md tax is high but I’ll be under 400 all in
With 29k msrp also…
Loaded Xle won’t even hit 450
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You know whats going to happen. A broker is going to see your 457 offer and say I can do better and drop you a camry SE for $375 a month, Don’t fall for the BS. Wait out this low inventory garbage and wait till the price is in your favor. If you don’t need a car don’t try in this market, you aren’t going to get far.
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Under 400 all in??? For a camry SE??? Come onnnn. This car isn’t worth anything more than $300 and that is considered too high.
Worth and current valuation are 2 different things. You should know this. Also I’m at a $3000 higher msrp… ha
Would I pay 400 for a Camry se? No. And my fault is I will be honest and tell my clients that…
6 Likes
I can sell you one at 15-20% off msrp. That’s the better deal for Maryland anyway. Text if interested
Jim
215-359-6836
1 Like
Really makes no sense to lease in a state that taxes the selling price at 6%
2 Likes
Going to be interesting these next few months watching people pay $500 a month for Camcords
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