Deal Check Rav4 Prime- and advice

Ask the Hackrs
1

Located in norcal but open to travel. In the market for a new car with a budget of around 60k. Found a rav4 prime xse for 2600 of msrp totaling $48891.

Term is 36/10k $666/month with 13000 due at signing.

Ive never leased before always bought cars cash but toyota is offering 6500 lease cash which I wanted to take advantage of. The amount due at signing and monthly payments seem kinda high to me. (these were just the estimate from the dealer website, nothing official)

Looking for advice or any other cars anyone might recommend. We want a suv with awd and prefer a plug in hybrid.

2

this deal is unbelievably bad - is it really 13,000 or 1,300 due at signing?

If you want plug in PHEV - then look at Audi Q5e - you may actually get a better lease on those than these RAV4s

3

$1000 a month for a RAV4? Have you read leasing 101? I would get a broker try @Jeff_BeachCitiesAuto

4

I think he meant $1,300 DAS. And if so and no funky dealer add-ons then this is a great deal. Not as a lease but as a buy out. $2,600 off on a rav4 prime is very, very good.

edit: and depending on the MF, it may even be reasonable to keep it to term. This car should have meaningful equity at lease maturity because residual is pretty low IIRC. So this should meaningfully reduce effective monthly.

5

This is the WAY better deal Socal Hyundai + Kia Lease and Purchase Deals (October). VERY low EV/PHEV Leases ⚡ - #349 by Jeff_BeachCitiesAuto

give me a call to go over options 310-405-3507

6

I’m not a big fan of the RAV4 Prime. Probably my personal bias, but it still looks like a RAV4, so you’re paying $50k to drive a $30k car.

See if you can fill in the calculator here on Leasehackr to break down the deal, assuming you’re paying $1300 down and not $13,000, it’s not terrible. Roughly $25.5k over the 3 years. If they’re giving you $2600 off MSRP, your best bet is to lease and then buy the car out immediately (don’t tell the dealer that part). Think of it as a workaround to purchase the car, but still get the $6500 back with maybe $2000 in fees (some lease initiation stuff and a few months payments).

If you’re set on leasing, you can probably do better, why get something relatively boring (but reliable etc.) when you could go full electric on a Mercedes EQE, EQS, Audi Q8 etron, etc. for similar or just slightly higher monthly payments for cars that MSRP for nearly double the RAV4 Prime.

If it’s really $13k due at signing, RUN AWAY as fast you can.

7

Thanks for the replies, i have never leased and i did read some of the articles and saw the deals others are getting which is why I thought it was kind of a lot. I did in fact mean 13k (see below, maybe the number im seeing isnt what you guys are referring to?), not interested in full electric already have a tesla. Leaning toward toyota for the reliability as we are planning on keep it for a while and something with a little bit more space and can handle the occasional snow.

edit: i just want to add plug in hybrid is preferred but not a deal breaker, im on the list for a grand highlander hybrid but its been months so im seeing if theres a better deal and something i dont need to wait a long time for.

Cost of Vehicle

Base MSRP 5
$46,960

Installed Packages & Accessories6
$3,269

Delivery Processing and Handling7
$1,350

Total Suggested Retail Price8
$51,579

Dealer Adjustment 9
-$2,688

SmartPath Price10
$48,891

This is the dealer’s selling price

Optional Accessories 11
$0

Optional Protection Products 12
$0

Optional Non-Toyota Products 12
$0

Capitalized Taxes & Fees13
Exclude$4,046

Calculated based on Zip 94538 Edit

Taxes & Fees should be based on your residential zip

Down Payment
-$4,890

Net Trade-In Value
$0

Customer bonus cash
-$6,500

A cash incentive provided by the manufacturer
Estimated Net Capitalized Cost1
$39,318

This is the total amount your monthly payment is based off of

What’s required at Signing

First Month’s Payment 15
$666

Security Deposit Due 2
$0

Optional Protection Products 12
$0

Optional Non-Toyota Products 12
$0

Non-Capitalized Taxes & Fees3
$927

Down Payment
$4,890

Cash Out Of Pocket 16
$6,482

The amount you owe in cash when signing your lease

Customer bonus cash
$6,500

A cash incentive provided by the manufacturer

Net Trade-In Value
$0

Amount Due at Lease Signing 4
$12,982

8

Why a Rav4 Prime? Look at other options and save a ton.

9

definitely open to other options but the 6500 lease cash from toyota and the plug in option was appealing. any suggestions for an awd suv? plugin/hybrid preferred but not a deal breaker.

10

Check out

  1. Tesla Model Y
  2. Mazda CX90 PHEV
  3. Volvo XC60/XC90 PHEV
  4. Lexus NX/RX PHEV
11

Tucson Plugin hybrid Limited has a lower MSRP, more tech and luxury features and a great lease and huge discounts…

1 Like
12

60k budget I would look into a Lexus RX, Rav4 Prime premium over regular Rav4 Hybrid is a lot and to capture the lease credit you have to lease and then buy out which you would have to pay acquisition costs.

For occasional snow and reliability I would get a RX, I’ve taken various Rx to ski trips for many years, they have big discounts now and they are much nicer than a Rav4.

13

again thanks for the replies, really wanted the r4p for the reliability of toyota and the charging. we already have a level 2 charger and solar so a phev makes sense so thats why i was leaning toward the r4p plus tfs was offering 6500 lease cash. i like the rx450h+ but it starts at 70k, what kind of discounts are you seeing on them? i havent seen many on the rx here.

im not sure i can see myself in a kia/hyundai after seeing the issues with them and how easy they are to steal.

14

RX450h plugin is a new model, there aren’t any deals to be had

The Hyundai stealing issue isn’t on any new 23/24, a lot of their poor reputation is based on much older models. The new ones are a huge improvement

2 Likes
15

The Hyundai/Kia thefts are on older cars that require keys in the ignition to start. It’s not an issue on newer models with push button starts.

1 Like
16

PHEV is the worst of both worlds.

Full charge takes 18kwh. Assuming $.12/kwh, that’s $2.16 to go 42 miles.
Suppose RAV4 regular hybrid gets 30mpg and gas is $3.5/gal. That’s $4.9.

The price delta is $2.74. You save even less if you have some juice left in the battery.

Other PHEVs do substantially worse than this (smaller battery and/or worse efficiency).

In my experience, bothering with the plug to save maybe $1 gets old real quick. Many owners end up not charging at all.

Also, how much extra do you pay over a similarly equipped RAV4 hybrid? How many times do you have to charge to break even?

Plus, you need to maintain ICE and EV systems. Not having to think about oil change is more awesome than you might imagine.

RAV4 Prime kinda made sense when it was $43k and Model Y was $62k. Now, it’s makes no sense. Just buy a Model Y (or its competitors) especially if you have home charging.

/endrant

17

thanks for the post, i was thinking with the 6500 lease cash it would be about the same as a normal rav4 hybrid. i already have a tesla and am looking for something for longer trips so i dont need to worry about charging. also gas is around 5.5 here and electricity would be .28c off peak so id save 2 whole dollars!

18

If you’re looking to keep long term and buying out immediately it’s not a bad deal. It’s a quintessential transportation appliance with great reliability. But if you’re just keeping for the lease term there are indeed as others have said better options.

19

toyota
toyota766Ă—546 29.4 KB

ive changed the down payment to 0 and i think im reading this wrong, i think the 6500 das comes from toyatas lease cash so i wouldnt have to pay that correct? still around $820 a month which is a bit high but yes im planning to keep the car long term and buy out immediately.

20

Signed a lease for one last week at $660 monthly with nothing down except first months payment. $660 monthly with $660 at signing. My deal had a great amount of dealer discount but even without that it shouldn’t be $13k out of pocket. Might be the $4k in “taxes and fees” you show above.

4 Likes