I’m a total newbie to leasing. I’ve been looking to buy a used car and everything I was seeing that fit my needs was out of my budget or much older and higher mileage than I wanted. I thought I did OK considering it was my first ever negotiation, but after reading some posts here I’m not so sure…thoughts?
2021 Toyota RAV4 LE
MSRP: $29843
Selling: $29343
36 Months
10k mi/yr
66% residual
.00115 MF**used from a comment I read elsewhere as I’m not sure how to find this myself?)
MSDs: 0? 1? I read about this but not sure I understand…I put down a deposit today because it was too late to take the car home, but not sure that’s the same as an MSD…?
Down payment: $2000
$500 incentive (untaxed I think but not positive…)
Acquisition: $650
Dealer: $499
Govt Fee: couldn’t find this so I used calculator base of $137.25
Sales Tax: 6.625% NJ
Calculator is putting me at $304 with tax and $2437 drive off so close but a little more than what I signed. (Is it good if the calculator is close, or does it mean I got the average deal?)
I’m truly new to this and should have done more research…is the goal to have the sell price be as low as possible from MSRP? Their first offer was $360 with $3k DAS plus first month at first so would that mean the sale price is over MSRP?
Also In case it seemed like they made one offer and then I took the 2nd without negotiations. They actually came back to the table 3 more times on offers before they got down to these figures. And I almost walked on the last bid until we got here so I thought that was a good sign. lol. Is it all just smoke and mirrors?
Oh well. I needed a car and used market was not faring any better for me. I’m still happy with terms in comparison to my budget and the RAV4 is perfect for my current lifestyle. But it’s a little disheartening.
It happens, at this point don’t sweat it. You know better for next time now. I’m know plenty of us here got burned our first time round. Enjoy the new ride!
Newbie Here: I am planning to lease a rav4 hybrid by end of Nov or end of the year. I asked brokers here for a quote It’s around $350 / month for a zero down , 10K. in NY Long island zip with 800+ credit score.
Toyota is running toyotathron this month and the offer on their website : Lease a 2021 RAV4 Hybrid for $209 for 39 Months.
Qualified lessees can lease a new 2021 RAV4 Hybrid RAV4 LE Electronic-AWD 2.5L 4-Cyl. Hybrid Model 4522 for $209 per month for 39 months with $2,999 Due At Signing. Based on 10,000 miles/yr. Security Deposit waived. Lease includes $500 cash incentive and excludes tax, title, license, registration fees, and dealer options and charges.
looks good if I divide the 3K down payment into 39 months and adding to $209 to that. It’s below $300.
Please enlighten me, I know it’s a bad thing to put down $3K in case of accident.
After adding these it will quickly not be under 300. These ads are usually pretty rubbish deals. If you want to shop for your own deal I suggest familiarizing yourself with leasing terminology and how to calculate a lease. Then get the MF, RV, and incentives from edmunds and put together a target deal with a specific dealer discount you’re going to aim for. If you don’t want to put in those hours then go with one of the reputable brokers/dealers on this site, there are plenty who do Toyota.
Putting $3,000 down is about $100 in monthly payment reduction. Then add all the taxes, DMV fees, and dealership fees and there’s easily another $1,500-$2,000 which translates into another $60-70 per month.
So $209 plus about $160-170 per month to achieve $0 DAS and you end up with $370-380 per month.
In addition to what @Sonic19 said about taxes etc, are you comparing the same terms?
The ad was for 39m/10k miles… what did the broker quote you?
We’ve also had at least one broker on LH say their offer for the RAV4 hybrid was similar to the regional ad. So perhaps this is one of those vehicles where a broker can offer convenience but not materially better pricing.
I don’t know if this helps anyone in this thread, but just negotiated a $44k MSRP '21 Venza Limited for $3900 Drive-Off, $390 a month 36/10. Definitely not the deal of the Century, but it’s the model she wanted. XLE AWD Rav’s were coming in around that same monthly, with just 1st at drive-off. The Venza is definitely a step above, if you can find one on a lot.
