Leased a new 2010 Corolla S!

[Corners]

Hey guys. Just saying hi. I just leased a new 2010 Corolla S this weekend. The lease deals are great right now, and fit my situation wonderfully. I'm a bit of a car guy, and usually have some sort of project car in my possession, but as it is right now, we just purchased a foreclosure and we have our second kid on the way due in October, thus I have ZERO time to attend to any sort of project vehicle. I needed something that's reasonably priced, low maintenance, good looks, good fuel economy, and can fit a rear facing car seat into. So, I sold my 1994 Mustang GT with a Vortech Supercharger. I'm down about 250 hp now. It was fun, but was a perpetual project. Also, you cannot fit a rear facing car seat into that car. Not that I do that everyday or anything (we have a Sienna for our family car), but there's always a time or two where I either need the van, or need to take my daughter, and now soon to be son, out somewhere.

I spent 12 hours shopping last weekend. My Sister just leased a Corolla S a few months ago, so I knew I liked her car, but wanted to see what was out there. I drove a Corolla, Mazda3, Mazda6, Forte, Elentra, Lancer, and Sentra. My favorite was the Mazda3, but they weren't budging on price (wanted $250/mo at $1,000 down for 42 months). The Corolla was my second choice, but for the lease deals going on (at least around here), it was a no brainer. Corolla S it is!

Running the numbers, the lease saves me money at the end. I want something new to drive that I don't have to touch as far as repairs go for the next few years, until which I'll probably look for another Mustang (2011 GT please???). Got a Corolla S, put $1000 down, and my payments are $171 after all taxes. Pretty sweet. Here's my analysis and how it broke down for me in my situation leasing vs buying a new Corolla for 36 months and trading it in. And as an added bonus, I don't have to go to the DMV or mess with anything; just pay my money and keep on driving...

Purchase Price $17,200
Sales Tax (8%) $1,376
Payments (60 month, 0% financing) $310/mo
Payments on purchase for 36 months plus sales tax $11,145.60
Balance owed on purcahse $7,430.40
Trade in value after 3 years $9,800.00 (KBB trade in value of 2007 Corolla S)
Cash after trade $2,369.60
Total Lease Payments for 36 months $7,156 ($171 x 36 months, plus $1,000 down)
Additional payments over lease $3,989.60
Cost Savings of Lease $1,620.00

Anyways, here's to 3 years of trouble free travels in a very nice car. The car looks great and is pretty fun to drive, as long as you keep your cornering momentum up. Here she is...

[FlawedLegacy]

very sweet. Wish my ride had the wheel controls and optima or whatever the cooler gages are.

Slowly working on turning my LE into an S. Got fogs, spoiler, now working on wheels.

Congrats on your new rice!

[roberto1187]

not bad, i too have the corolla S..put 1,000 down paying about 240 a month..all i did was give in my previous ride 2007 nissan sentra w/ the remaining lease payments which were terminated n toyota took over.

As far as my car goes..it pretty much has the same mods w/ the exception mine has the sun roof and remote starter..over all a good car..but the pick up on the corolla is ehh..your paying a good price 171 enjoy the ride

[Corners]

Originally Posted by roberto1187

r..but the pick up on the corolla is ehh.

Yeah. It is kinda funny that our Sienna is quite a bit quicker and faster than the Corolla S.

[Londonguy]

That seems like a pretty decent trade in value for the 07 S. I don't know if the values in Canada right now would be as good.

[ekimnal]

i soo badly want the optitron guage

congrats dude

[Corners]

Originally Posted by Londonguy

That seems like a pretty decent trade in value for the 07 S. I don't know if the values in Canada right now would be as good.

That's just makes the lease more attractive.

[got-rice]

The S is probably the best model in the Corolla line right now (I own an XRS). When the time is up on your lease, go get that Mustang GT (with Brembo package no less). I know that would be on my short list of cars if I could get rid of my Corolla and get something else.

[blue02rolla]

That Corolla S looks sweet! I have a 2002 Corolla S that I'm having serviced next week for bad blue smoke and massive oil burn.

Ironic, I just got in the mail today a voucher for $500 and market value for my car as a trade in on something new. I was checking out the website for the dealer, and they have a 2009 Corolla XRS for $12,995. Sweet deal, but I wonder what's wrong with it???

http://www.toyotadirect.com/certifie...96b46d8f51.htm

[got-rice]

Originally Posted by blue02rolla

That Corolla S looks sweet! I have a 2002 Corolla S that I'm having serviced next week for bad blue smoke and massive oil burn.

Ironic, I just got in the mail today a voucher for $500 and market value for my car as a trade in on something new. I was checking out the website for the dealer, and they have a 2009 Corolla XRS for $12,995. Sweet deal, but I wonder what's wrong with it???

http://www.toyotadirect.com/certifie...96b46d8f51.htm

IMO, that price on that XRS is a steal. If I were you, I'd use that $500 right away, since it is also a TCUV (certified vehicle).

[TLeong13]

Originally Posted by got-rice

IMO, that price on that XRS is a steal. If I were you, I'd use that $500 right away, since it is also a TCUV (certified vehicle).

+1 the reason y the price is what it is, is because of the mileage 45k miles in 2yrs is too high, and also because it has 2 prior owners with one only lasting 18 days (to carfax and to some people they think that because of the last owner got out of it too quick, there must be something wrong with the car) even if there is the CPO warranty would cover it...btw CPO is a joke, dont think the car is good just because its certified...my friend sold his 08 civic to the dealer, been in 1 small accident and 1 major accident (smashed the whole side into a wall) also had some tranny problems (downshifting and smashing hella hard on it and other stuff) did a quick fix on the tranny and the dealership missed both accident and everything and paid him above bb for the car and certified it.

[blue02rolla]

Thanks TLeong13. Good info to know. After reading up on the XRS, I'd rather just get a newer S.

Sorry, not trying to hijack your thread, Corners, but seeing that sweet ride got me to thinking about something newer. I'm not interested in a lease, but that's one heck of a deal you got there. I'd probably take that deal on a lease if it was offered to me

[RBK]

Originally Posted by got-rice

The S is probably the best model in the Corolla line right now (I own an XRS).

How'd you come to that conclusion?

[Dimaoala]

Congratulations! Car looks great!

[got-rice]

Originally Posted by blue02rolla

Thanks TLeong13. Good info to know. After reading up on the XRS, I'd rather just get a newer S.

For that price, I would give this XRS a closer look before you go back to looking at an S. This is the cheapest XRS I've seen so far that is certified.

Originally Posted by RBK

How'd you come to that conclusion?

I bought my XRS because it offered the most performance of all Corollas. It was down to this and the S model, and the XRS did make sense financially so I went for it (also considered other Toyotas because of employee discount, but price was a factor).

The things I appreciate most about my Corolla are the options, such as the moonroof and JBL/Bluetooth. However, I'm not so crazy about the engine. It's on the thrashy side, and could do better on the MPG, which is what the S offers. Sure it has better pick and go performance than the 1.8, but I use my car more for getting around and what not, so the MPG is seemingly important. As far as handling, I doubt there is any major difference. For me, the S would've done just fine because it offers the same options as the XRS, even if it doesn't have the bigger wheels, rear discs and strut bar. Just look at SCMR2's S, you can easily upgrade the little things. For me now, be comfortable in my Corolla is paramount over performance (because that isn't what the Corolla is about).