Leasing a 2009 Camry LE

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Old 09 Mar 2009, 10:18 pm   #1 (permalink)
oparr
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Default Leasing a 2009 Camry LE

Got this flyer from a Toyota dealer advertising a 36 month lease where
they pay the first 12 months and you only pay for 24 months. The fine
print indicated that the maximum paid for the first 12 months would be
$2400. Okay, so this is basically a $2400 money back offer without any
indication of the deposit amount or the monthly payment.

Long story short....I go in and request that they fill in the blanks
and this is what they offered;

1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
which they value at $1000....Equivalent to a $3600 deposit.
2. They pay for the first six months and I pay $226 for the next 30
months....Equivalent to $189 for 36 months.

The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
my question is whether $3600 deposit plus $189 a month for 36 months
is a ballpark lease amount for this Camry or is this a raw deal?

Thanks!
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Old 09 Mar 2009, 10:24 pm   #2 (permalink)
johngdole@hotmail.com
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Default Re: Leasing a 2009 Camry LE

www.edmunds.com shows the dealer trade-in value at about $2300, but
it's a generic valuve without all the other info you put in (dents,
mileage, options etc).

Yeah, I know Toyotas don't hold their values very well but at $1000
I think you're getting a raw deal.

In this economy they should be able to do better than that.


On Mar 9, 8:18*pm, oparr <op...@hotmail.com> wrote:
> Got this flyer from a Toyota dealer advertising a 36 month lease where
> they pay the first 12 months and you only pay for 24 months. The fine
> print indicated that the maximum paid for the first 12 months would be
> $2400. Okay, so this is basically a $2400 money back offer without any
> indication of the deposit amount or the monthly payment.
>
> Long story short....I go in and request that they fill in the blanks
> and this is what they offered;
>
> 1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
> which they value at $1000....Equivalent to a $3600 deposit.
> 2. They pay for the first six months and I pay $226 for the next 30
> months....Equivalent to $189 for 36 months.
>
> The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
> my question is whether $3600 deposit plus $189 a month for 36 months
> is a ballpark lease amount for this Camry or is this a raw deal?
>
> Thanks!


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Old 09 Mar 2009, 10:28 pm   #3 (permalink)
mikewestvale
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Default Re: Leasing a 2009 Camry LE

On Mar 9, 11:18*pm, oparr <op...@hotmail.com> wrote:
> Got this flyer from a Toyota dealer advertising a 36 month lease where
> they pay the first 12 months and you only pay for 24 months. The fine
> print indicated that the maximum paid for the first 12 months would be
> $2400. Okay, so this is basically a $2400 money back offer without any
> indication of the deposit amount or the monthly payment.
>
> Long story short....I go in and request that they fill in the blanks
> and this is what they offered;
>
> 1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
> which they value at $1000....Equivalent to a $3600 deposit.
> 2. They pay for the first six months and I pay $226 for the next 30
> months....Equivalent to $189 for 36 months.
>
> The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
> my question is whether $3600 deposit plus $189 a month for 36 months
> is a ballpark lease amount for this Camry or is this a raw deal?
>
> Thanks!


Do the math 189x36 + 3600 = 10,804 Now add the buy out and if that
adds up to less than the list price that's what the deal is worth to
you. How much less or more is what makes the deal.

Basically to judge this deal you have not given enough facts. i.e.
buyout and interest rate. Remember you still have to add taxes to the
lease and buyout and there are in all likelihood a few hidden charges
as well.

Mikewestvale
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Old 10 Mar 2009, 08:41 am   #4 (permalink)
oparr@hotmail.com
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Default Re: Leasing a 2009 Camry LE

> Yeah, I know Toyotas don't hold their values very well but at $1000
> I think you're getting a raw deal.


Actually, that's the only part of the deal I'm comfortable with.
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Old 10 Mar 2009, 09:21 am   #5 (permalink)
oparr@hotmail.com
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Default Re: Leasing a 2009 Camry LE

> Do the math 189x36 + 3600 = 10,804 Now add the buy

Assume I'll be leasing another car at the end of the lease.

On Mar 9, 11:28*pm, mikewestvale <mikewestv...@gmail.com> wrote:
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Old 10 Mar 2009, 02:10 pm   #6 (permalink)
SMS
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Default Re: Leasing a 2009 Camry LE

oparr wrote:
> Got this flyer from a Toyota dealer advertising a 36 month lease where
> they pay the first 12 months and you only pay for 24 months. The fine
> print indicated that the maximum paid for the first 12 months would be
> $2400. Okay, so this is basically a $2400 money back offer without any
> indication of the deposit amount or the monthly payment.
>
> Long story short....I go in and request that they fill in the blanks
> and this is what they offered;
>
> 1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
> which they value at $1000....Equivalent to a $3600 deposit.
> 2. They pay for the first six months and I pay $226 for the next 30
> months....Equivalent to $189 for 36 months.
>
> The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
> my question is whether $3600 deposit plus $189 a month for 36 months
> is a ballpark lease amount for this Camry or is this a raw deal?


You could sell the 1997 Camry around here for at least $5000. But it
still may be a good deal.

Since you tend to keep your vehicles for a long time, leasing usually
doesn't make sense on vehicles that have high resale value like a Camry.
If you were doing this on a Ford, GM, or Chrysler vehicle which have
extremely poor resale value, then a lease might make sense.
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Old 10 Mar 2009, 03:30 pm   #7 (permalink)
mrdarrett@gmail.com
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Default Re: Leasing a 2009 Camry LE

On Mar 10, 12:10*pm, SMS <scharf.ste...@geemail.com> wrote:
> oparr wrote:
> > Got this flyer from a Toyota dealer advertising a 36 month lease where
> > they pay the first 12 months and you only pay for 24 months. The fine
> > print indicated that the maximum paid for the first 12 months would be
> > $2400. Okay, so this is basically a $2400 money back offer without any
> > indication of the deposit amount or the monthly payment.

>
> > Long story short....I go in and request that they fill in the blanks
> > and this is what they offered;

>
> > 1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
> > which they value at $1000....Equivalent to a $3600 deposit.
> > 2. They pay for the first six months and I pay $226 for the next 30
> > months....Equivalent to $189 for 36 months.

>
> > The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
> > my question is whether $3600 deposit plus $189 a month for 36 months
> > is a ballpark lease amount for this Camry or is this a raw deal?

>
> You could sell the 1997 Camry around here for at least $5000. But it
> still may be a good deal.
>
> Since you tend to keep your vehicles for a long time, leasing usually
> doesn't make sense on vehicles that have high resale value like a Camry.
> If you were doing this on a Ford, GM, or Chrysler vehicle which have
> extremely poor resale value, then a lease might make sense.



Sell a '97 Camry for $5k? Where is "here"?

I've got a '96 Camry, 163k miles, good-fair condition, looking to
sell, but Edmunds says it's worth maybe $2,000 tops. Resigned to
pretty much getting $1k for it from the dealer, or just keep driving
it till 180k miles or so.

Thanks,

Michael
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Old 10 Mar 2009, 05:26 pm   #8 (permalink)
SMS
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Default Re: Leasing a 2009 Camry LE

mrdarrett@gmail.com wrote:
> On Mar 10, 12:10 pm, SMS <scharf.ste...@geemail.com> wrote:
>> oparr wrote:


>> Since you tend to keep your vehicles for a long time, leasing usually
>> doesn't make sense on vehicles that have high resale value like a Camry.
>> If you were doing this on a Ford, GM, or Chrysler vehicle which have
>> extremely poor resale value, then a lease might make sense.

>
>
> Sell a '97 Camry for $5k? Where is "here"?


The Kelly Blue Book retail value for a 1997 Camry LE in excellent
condition in my area is $4940 (with 157K miles and no extra equipment).
People routinely way overpay for used Hondas and Toyotas in northern
California, so getting $5000 would not be too difficult. If not for the
sales tax and registration costs, you could make a living buying new
Camrys from the dealer and reselling them used for more than a buyer
could buy one for new.

Even turning it in to a dealer the KBB trade in value, which is
artificially low, is $2,050.
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Old 10 Mar 2009, 06:01 pm   #9 (permalink)
Mark
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Default Re: Leasing a 2009 Camry LE

AS others have probably mentioned, you need to factor in end-of-lease costs.
Even if you plan to lease again in 3 yrs, you could have additional costs
just to end the current lease, or have no 'equity' for trade. Also, if
you've driven 157,000 in a 97, that would be about 13,000 miles/yr. How
many miles are included in the lease. If it's the standard 12K, and you
have to pay 20 cents per mile over that, you're looking at another e-o-l
cost...

Most experts will suggest that a lease isn't a good deal in most situations.
Even if you decide to trade in again in 3 years, if you work a good deal now
on the new car and take care of it over the 3 yrs, a Camry will probably be
worth more than the payoff in 3 yrs.


"oparr" <oparr@hotmail.com> wrote in message
news:26e765f7-0e4a-46c5-bfea-4ce8d86e3243@e38g2000yqa.googlegroups.com...
> Got this flyer from a Toyota dealer advertising a 36 month lease where
> they pay the first 12 months and you only pay for 24 months. The fine
> print indicated that the maximum paid for the first 12 months would be
> $2400. Okay, so this is basically a $2400 money back offer without any
> indication of the deposit amount or the monthly payment.
>
> Long story short....I go in and request that they fill in the blanks
> and this is what they offered;
>
> 1. I pay $2600 deposit plus trade in my 1997 Camry (157,000 miles)
> which they value at $1000....Equivalent to a $3600 deposit.
> 2. They pay for the first six months and I pay $226 for the next 30
> months....Equivalent to $189 for 36 months.
>
> The Blue Book trade-in value for a 1997 Camry like mine is $1,025 so
> my question is whether $3600 deposit plus $189 a month for 36 months
> is a ballpark lease amount for this Camry or is this a raw deal?
>
> Thanks!


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Old 10 Mar 2009, 06:44 pm   #10 (permalink)
oparr@hotmail.com
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Default Re: Leasing a 2009 Camry LE

> Even turning it in to a dealer the KBB trade in value, which is
> artificially low, is $2,050.


KBB returns $1025 for mine in fair condition and in ***my neck of the
woods***. We're talking 4Cyl BTW. Also, it's been in two accidents,
several dents and dings, front end needs overhauling....Yeah, I'll
take $1000.

On Mar 10, 6:26*pm, SMS <scharf.ste...@geemail.com> wrote:
>

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