Good Lease Deal?
 

Hello all,
Current owner of a Honda hybrid and thinking of getting a Prius. The local dealer is offering the following. This sounds good to me. Any input?

Prius with package #2
$259 per month for 36 months
$1999 due at signing

Offer good on 2007 Prius 5-Door Liftback Model 1224 – ECVT transmission, vehicle skid control, backup camera, smart key system,AM/FM/CD changer/MP3 with 6 speakers, carpeted floor mats and cargo mat, rear bumper appliqué, and more! $259/Mo. – 36 Month Lease. $1,999 due at lease signing. Includes $1,190 Customer Down Payment + First Month’s Payment/$259 + Acquisition Fee/$550. $300 security deposit waived to qualified buyers subject to approved credit through Toyota Financial Services. Good on Tier I PLUS only. 36-month payments total $9,324 – excludes state and local taxes, tags, registration and title, insurance, and dealer charges. Lease Factor .00024. Closed-End Lease. Lease-end purchase option $12,990. The manufacturer’s suggested retail price for the 2007 Prius 5-Door Liftback Model 1224 is $24,234. Includes destination charge, but excludes state and local taxes, tags, registration and title, insurance, and dealer charges. Adjusted Capitalized Cost is $22,011 based on dealer participation. Other options and dealer charges extra. Lessee may be charged for excessive wear based on Toyota Financial Services/Toyota Lease Trust (TLT MI & OH) standards for normal use and for mileage in excess of 36,000 miles at the rate of $0.15 per mile (low mileage lease). Your payment may vary depending on final price. Tax credit limited to new purchases only. Used vehicles sales and leased vehicles are not eligible to claim tax credit. Amount of tax credit is subject to IRS regulations in effect at the time of purchase and change subject to changes in applicable Federal Tax Laws. Delivery must be taken from new 2007 dealer stock by 2/28/07 and is subject to availability. Available to qualified customers through Toyota Financial Services. Effective 02/01/02 Ohio requires sales tax to be collected at lease inception. Individual dealer prices may vary. See participating dealers for details.

Re: Good Lease Deal?
 

There is no such thing as a good lease deal. Leasing is just renting a vehicle. So unless you can write it off, it doesn't make sense.

Re: Good Lease Deal?
 

True, unless... I want the 2009 model Prius, but would like to help the enviroment now, and get the car I want in 3 years

Re: Good Lease Deal?
 

Then why not just sell the car is 3 years?

Re: Good Lease Deal?
 

New user here, I work in F&I systems - Resist is right. Unless you're really sharp with the ins and outs of computing payments (and I mean F&I manager sharp), there is no good lease deal.

This looks like the same factory financing that Toyota is offering in some regions through February 28 - the retail rates are 0.0 for 24 months, 1.9 for 36, 2.9 for 48 and 3.9 for 60 months on credit tiers 1, 2, and 3 with no dealer markup. Why not ask the dealer if you qualify for one of those?

Re: Good Lease Deal?
 

Thanks for all the input. I am in a holding pattern for now. Those APR's sound real nice but my dealership only has the below for Prius. :(

http://www.tmsbuyatoyota.com/imgs/sp...detail_dot.gif3.9% APR for 36 Monthshttp://www.tmsbuyatoyota.com/imgs/sp...detail_dot.gif4.9% APR for 48 Monthshttp://www.tmsbuyatoyota.com/imgs/sp...detail_dot.gif5.9% APR for 60 Months

Re: Good Lease Deal?
 

thats a good lease offer, but i wouldnt put money down. see if they will do $299/mo no money down. btw, you would never get that low of a payment while financing, and if you did stretch it out long enough to get it that low, you would have a hell of a time getting out of the loan in a couple years...

Re: Good Lease Deal?
 

Actually that is a pretty good lease deal. I normally wouldn't recommend a lease on a Prius due to the great resale, which makes purchasing the car very attractive, but with that deal you go in with lower payments and still knock $10k off the purchase price, should you decide to buy it at the end. If you do that it is a pretty sweet deal, even without the $1500 tax credit.

Re: Good Lease Deal?
 

There is a 24 month 0% interest deal going on right now, so pass on a lease.

Re: Good Lease Deal?
 

what's the payment on a 2 yr loan, like $800/mo lol