New 2010 Corolla S - Toyota Nation Forum : Toyota Car and Truck Forums

sm30 · 11-11-2010, 04:21 PM

Hi,

I was just offered the following below. I am currently on a lease for 4 years and this month is the 2 year mark. They are taking back the current lease and giving me the following.

Is this a good deal?

2010 Corolla S with Moonroof package
60 month lease
$500 downpayment
Also they are adding something called "Bonjovi" for the sound system. I assume something like an amp to make the sound better.

$300 taxes in per month

Thanks in advance for your replies.

wilsonman02 · 11-11-2010, 06:09 PM

60 month lease for 300 a month? Then you give it back? If you just bought a 2010 S model your payments would be around 300 a month for 60 months then you would own it or could sell it. Just food for thought.

thestone11 · 11-11-2010, 06:13 PM

That's too expensive for a lease term.

RBK · 11-11-2010, 06:28 PM

Quote:

Originally Posted by wilsonman02

60 month lease for 300 a month? Then you give it back? If you just bought a 2010 S model your payments would be around 300 a month for 60 months then you would own it or could sell it. Just food for thought.

300 x 60 = 18000. Cmon man.

thestone11 · 11-11-2010, 06:41 PM

Quote:

Originally Posted by RBK

300 x 60 = 18000. Cmon man.

And this is already his second year on the lease, so he paid more than that.....

sm30 · 11-11-2010, 06:46 PM

Quote:

Originally Posted by thestone11

That's too expensive for a lease term.

What would be a good range for this lease?

Regarding your 2nd post. I currently am in a 4 year lease. What the dealer offered me was to take back my current car and offer me this new lease with a new 2010 corolla.

***FlawedLegacy*** · 11-11-2010, 06:50 PM

Lease in general would not fly with me, but that does sound like you got bent over

***SuperchargedMR2*** · 11-11-2010, 09:33 PM

I live by a simple rule when it comes to cars.....I never lease.

I just don't like paying all that money with nothing to show for it. I buy a car I like & keep it for many years so leasing would get too expensive. It's like renting a house & having nothing to show for it.

JayDawg · 11-12-2010, 01:06 AM

Quote:

Originally Posted by SuperchargedMR2

I live by a simple rule when it comes to cars.....I never lease.

I just don't like paying all that money with nothing to show for it. I buy a car I like & keep it for many years so leasing would get too expensive. It's like renting a house & having nothing to show for it.

What he said! A 5 year lease? I purchased my Corolla and my payments are just slightly higher than those lease payments. Plus what would your residual be after 5 years and you already paying 18k for the car that was probably 18-19k new.

***FlawedLegacy*** · 11-12-2010, 05:46 AM

I am paying $199.48/month for my car and own it

sm30 · 11-12-2010, 07:51 AM

Thanks for all the replies. In my case leasing is a better option as I can write it off as an expensive every month.

Also I am in Ontario Canada so the pricing is much higher then the pricing you guys are getting in the US. The MSRP according to Toyota.ca is $22,245.

The residual after 5 years they offered is $6896.

06tacosport · 11-13-2010, 10:33 PM

I just leased the exact same car for 3yrs at 268/month with 500 down at 1.3%. My buyout if I choose is like 10600.