Hey Everyone,
I’m looking to get a 2021 RAV4 XLE and this is what I have been offered:
MSRP: $29,324
Selling price: $26749
MF: 0.00236
Residual: 66%
36 Months
12,000 Miles
Zero Down
This is in TX.
Is this a good deal?
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 (Blog | 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, 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.
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Texas? @derekoh1991 if you want to save yourself time. Otherwise, the advice above is your best bet. GLWT
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@derekoh1991, 100% honest TX dealer. Give him a chance, great guy. Not just saying this because I owe him KBBQ.
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Hi, so all the Toyota residuals on almost every vehicle went down 2 points from last to this month. It does look like a decent deal, but I wouldn’t call it a LH deal.
From what I see on the calculator, I see that it’s not $0 down.
I can do the lease for only $299 DAS with $299 x 35 months (Thus 36/12k miles lease)
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Consider Venza. It’s more car for less money.
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Leasing in TX is 100% MSRP Tax. ick.
The Deal is with $0 down, $304DAS. Thanks for the comment.
Venza is in the low $400s, I am looking to lease a vehicle in the low $300s.
I am looking at Venza LE at $266 - $0 down and all fees and 7% tax included + MSDs.
It’s actually 100% selling price tax (at the state rate of 6.25%), which is an important distinction. “Ick” is correct though.
Sent you a message
So $299 DAS with $299 won’t work?
Sent you a message.
Got the message, and replied. Thanks
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Such a great SUV, my brother has one and loves it!
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