Greetings everyone
I got an offer to lease 2021 Toyota Corolla LE for $258 a month 36/10000 with 100 down and all other fees included, Is this a good deal? If so what would be a good price? I live in socal and this is my first time leasing. Questions and tips on how to not get screwed over are welcome. Thank you in advance.
It’s a terrible deal. Save yourself the trouble and just contact @Cody_Carter for a Toyota deal in SoCal.
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 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, 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.
Hello Jon, Thank you for the reply, What would be an appropriate price? Thanks
Go look at @Cody_Carter’s site which has all the details.
Agree with Jon. Just go to Cody and call it a day