Price: Advertised vs Real World Cap

I’m in the market for a Camry Hybrid for my daily commute. Many dealers are advertising this car for 22k-24k with an MSRP of high 20s to 31k. Do dealers generally lease based on their advertised sale price? Or does the cap price negotiation start at MSRP? The Camry Hybrid residuals are absurd (71% over 24mo) so if they’ll lease based on advertised price, I’m looking at barely a $100/mo (tax inc) lease with under $1000 drive off. If that’s true I’m signing the papers ASAP.

Hi there,

Toyota has different incentives for leases and cash purchases. The advertised price you’re seeing includes those incentives.

What’s your zip code? I can look up the incentives.


Thanks for the reply Michael.

So for this Camry Hybrid, picked completely at random for example:

MSRP is $28,235 but their advertised price is discounted to $22,995 (their website actually has it for $21,990) They won’t lease it for a cap of $21,990? Or at least it would be very difficult?

My zip is 84404 but I’m military currently deployed and am willing to travel nationwide to get the best lease deal.


Could not find any incentives that are worthwhile here in S FL, or for that matter I’d take another state that is within 10 hour drive for substantially less.

Hi Tony,

The car you linked is a 2015 model, which has lower residuals and higher MF rates than the 2016. That said, the hefty discount may offset the poorer lease program numbers.

For a 2016 Camry Hybrid LE with 84404 zip, the incentives aren’t too different for lease or cash purchase:

Lease: $1,000 lease cash
Purchase: $1,250 cash OR $500 cash + 0% APR for 60 months

There’s an additional $500 rebate for military.