$17,500 off by 1 Dec 2014, Production Ended August 2014

[TonyWilliams]

Ouch, it cost me $5200 down to get $299/month. Biggest cost was paying tax on Toyota's $15000 rebate.

Don't "total" it, or get it stolen!! That $5200 will be gone forever!

Yeah I know. For some reason the dealer was giving me crappy quotes if I did 0 down. I should have looked into it more, but I rolled the dice a little. I'll get $2500 back, so I'd only really be out $2700. Which would still suck.

Actually, you'd have to pay that $2500 back, since you didn't keep the car for 36 months in California.

 

[longrangeview]

... Or, it's $415 per month with zero down at basically 0% interest (lease money factor of 0.0001 multiplied by 2400 = interest rate) for 12,000 miles per year of use.

Make that lease rate .00001 NOT .0001

12k per year example = 415 per month *36 months = $14,940.
If you decide to purchase at lease end at residual of $20,916 + tax/license/doc (approx 10% = $2,091.6)...

Then you have spent $37,950 for that "49,800" car

Payments of $14,940 + Residual of $20,916 + Tax/Lic/Doc of $2,091.6 = $37,947.6

Actually 415 less than that since your first month lease payment is made in advance from the 15,400 subvention cash in the "0" down example

Thanks for breaking it down. Do I understand correctly that if the lease money factor comes to about 2% or $1200, that the money is charged once, at lease signing? Or is the charge to be paid each year during the term of the lease?

 

[cossie1600]

Your interest on the lease is 20 dollars in total over three years built into the payment. You pay interest if u buy the car after at 20k if u finance it.

 

[amfca]

... Or, it's $415 per month with zero down at basically 0% interest (lease money factor of 0.0001 multiplied by 2400 = interest rate) for 12,000 miles per year of use.

Make that lease rate .00001 NOT .0001

12k per year example = 415 per month *36 months = $14,940.
If you decide to purchase at lease end at residual of $20,916 + tax/license/doc (approx 10% = $2,091.6)...

Then you have spent $37,950 for that "49,800" car

Payments of $14,940 + Residual of $20,916 + Tax/Lic/Doc of $2,091.6 = $37,947.6

Actually 415 less than that since your first month lease payment is made in advance from the 15,400 subvention cash in the "0" down example

Thanks for breaking it down. Do I understand correctly that if the lease money factor comes to about 2% or $1200, that the money is charged once, at lease signing? Or is the charge to be paid each year during the term of the lease?

No. Effective interest rate is .024%
Thats charged on the monthly depreciation. About .56 per month. So about $20 over the entire 3 years in total !!

The monthly rental charge (interest portion of monthly payment) is figured by the following formula. (Adjusted Cap Cost + Residual) X money factor

 

[longrangeview]

Hi,

Has anyone been shopping for 2013 RAV4 EV lease using the $15,400 rebate cash until 9/30? I have surveyed a few dealers in the San Jose area and the drive-off amount is varying a lot. I have gotten offers from $4K down to $6K down and $299+Taxes for 36K miles lease. No one offered less than $4K. Appreciate any updates if you have leased recently.

pkris.

Did you contact Dianne Whitmire of Carson Toyota? See if you can get a deal you like. She posted some figures on the Dealer ads part of this forum and several forum members recommended her because they liked the deals she gave them.

I am contacting her too, since some forum members explained to me that she can ship the car here inexpensively or I can drive it back from West Los Angeles with ample charging stations available (2 days trip add in hotel or do an overnite visit with a friend).

Let me know. Check back for my posts. I hope to have bought an EV by Friday September 27, 2013. Good luck!

 

[longrangeview]

You need to spend more time doing the actual math than reading articles. I hope you know Toyota is offering the lease at .00001, which is essentially 0% for the three years of the lease ($20 over three years). Most dealers will sell you the car for about $48K. If you pay more, that is your fault (Dianne is here to get you that price). Factor in the $15K you get back from Toyota, the cap cost for the car is around $33K + $2K in fees and taxes. If you purchase, I don't think you get any additional cash rebate as you get the 0%. Unless the programs have changed and you get the $7500 or $10K rebate, which I didn't hear. 0% is nice, but you would still be financing $53K after you figure in taxes. I mean you do get the $7500 in federal tax credit at the end, but that's assuming you have that much to claim.

I had a trade in, so I just bought it locally. I got the deal done within two hours at Palo Alto.

Hey! That price you got of $48,195 is great! Is that salesperson still willing to do that again? Is that Lisa of Palo Alto Toyota? So far she has not called me back...

 

[longrangeview]

http://www.buyatoyota.com/Specials/SpecialOffers.aspx

Offer Ends 9/30/2013:

****************

CURRENT ADVERTISED PURCHASE OFFER

No stated Toyota discount, but typically $7500

0.0% APR for 36 months, 0.0% APR for 48 months or 0.0% APR for 60 months. Includes ToyotaCare

0.0% APR includes 36 monthly payments of $27.78 per $1000 borrowed. 0.0% APR includes 48 monthly payments of $20.83 per $1000 borrowed. 0.0% APR includes 60 monthly payments of $16.67 per $1000 borrowed.

For example 10% down. Down payment varies with credit. Available through Toyota Financial Services to qualified Tier 1 + (plus), Tier 1, Tier 2 and Tier 3 credit customers. Available on a new 2013 RAV4EV purchased out of dealer stock by midnight 9/30/2013. Offers cannot be combined. See your Toyota dealer for details.

*********************************

CURRENT ADVERTISED LEASE OFFER

$299 a month plus tax for 36 months, limited miles
$329 a month plus tax for 36 months, Special Payment for Unlimited Mileage
$3,499 Drive-off
After $15,400 Lease Cash is applied

NOTE: July 2013, this was called "$15,400 TFS Subvention Lease Cash" Apparently, you get to pay sales tax on the discount!!! CAVEAT EMPTOR

Sales tax not included and is calculated (estimated at $1,600) before lease cash is applied. Includes ToyotaCare

Lease Cash must be applied to lease down payment. Lease available only through Toyota Financial Services to qualified buyers. Offer excludes applicable taxes and fees. No security deposit required. You pay excess wear and tear, plus $.15 per mile over 36,000 miles at lease end. Lease payments may vary from dealer to dealer based on final negotiated price and equipment chosen. Lease offer is example only and applies only to new 2013 Toyota RAV4 EV Model #4480. Example vehicle may not be available at all dealers. Must be leased from new car dealer stock by midnight 09/30/2013. Lease example requires dealer contribution. Individual dealer lease terms may vary.

********************

TYPICAL PURCHASE deals for NEW (not used) should look like this:

New Rav4 EV (not used)

$2000 - $4000 typical dealers discounts (the dealers are getting 2% "holdback", and the salesperson gets $1000 from Toyota USA and the sales manager get $500... don't worry about hammering them on a good deal)

$50,870 Retail MSRP (inc floor mats and destination, add $395 for "Blizzard Pearl" white paint)

($2,000-$4,000) Dealer Discount

($7,500 - $10,000) Toyota Cash with 0.0% interest for up to 60 months

$80 doc fee

$36,870 - $41,370 net cost plus tax and license. This is what you will pay in the dealership without tax or shipping from California to your out of state location

$5,000 sales tax and license plates in California. Your state may vary wildly

$500 - $1,000 shipping to you from the dealer, if applicable


Then:

($7,500) Fed Tax Credit (you will get this with your taxes with IRS form 8936)
($2,500) CA State Rebate (you will get this when you mail in a form)

CAVEAT EMPTOR: The dealer may try to sell you a low mileage "used" car so that they can claim and keep the government incentives.


$26,870 - $31,370 Total Net Cost plus tax/license/shipping to you, if applicable

********************************

When I get a quote of $38,000 to $40,000, where do I start to negotiate it down? The leases have so many "moving parts"!
I am looking for Total Net Cost of $26,870-$31,370 (with my taxes that would be about 9% of $48,600 a sample price + 9% of $20,916 typical residual.
Total Taxes: $6600 approx) so my total amounts (including taxes, license, etc) would be $34,000-$39,000. Has any one seen deals in this range in September?

 

[cooljw]

So with the hefty lease incentive and no incentives (except 0% financing) for outright purchases, is anyone still considering purchasing over leasing anymore?

 

[longrangeview]

So with the hefty lease incentive and no incentives (except 0% financing) for outright purchases, is anyone still considering purchasing over leasing anymore?

Probably not. Here is another lease quote with good numbers from Lisa of Palo Alto Toyota. Another forum member reported a good lease deal with her.

2013 Toyota Rav4 EV

Blizzard Pearl White

MSRP:$51280

Selling Price:$48095 + $395 for pearl white = $48490

36 months lease

12k year

$3999 down

$299 + tax a month



With $0 down

$417 + tax a month





It was a pleasure speaking with you. My direct Cell number is 415-308-7158. I have all colors in stock.





Kindest Regards,





Lisa La

Internet Sales Director



[email protected]



650-494-2100 X 4008

650-494-0897 Fax number

Toyotapaloalto.com

 

[TonyWilliams]

36 months lease

12k year

$3999 down

$299 + tax a month

This is exactly the Toyota USA advertised deal. Nothing special from any other Rav4 EV certified dealer.

 

[portishead]

Actually, you'd have to pay that $2500 back, since you didn't keep the car for 36 months in California.

It says resale may be allowed on a case-by-case basis. So it's unclear if you'd get to keep the credit. With an accident, I believe you're technically selling the vehicle to the insurance company. It includes "unforeseen & unavoidable circumstances" clause so I'd imagine they already thought about that, and you'd probably still get to keep the credit.

 

[saintyohann]

You have to return a pro-rated amount of the credit. I had a Leaf that was bought back and I had to pay back 22 months worth of the $2500.

 

[portishead]

What was the reason for the return? Has anyone else had an accident or knew of someone who wrecked an EV who had to return the credit?

 

[saintyohann]

Software update went bad and Nissan basically refused to do anything to try to fix it.

As to the return of the CVRP monies; the way it was explained to me was whenever the CA DMV gets a transfer of ownership form with a VIN linked to the CVRP, they'll notify the utility/organization linked to that VIN. So when Nissan took the Leaf back, I had to sign a transfer form (Tan form about the size of half a sheet of paper), about three weeks later I got a letter from CCSE (handles the CVRP for San Diego Gas and Electric; your utility may go through someone else) requesting the pro-rated amount be paid back within 30-days. The original CVRP agreement said you needed to pre-auth any sale or return, so you may want to get ahead of it and contact whomever you got your rebate from...

...I would guess that a severe accident where the car is totaled would have you transfer the car to the insurance company for the payout triggering the return request. There was some legalese about the repercussions about not paying it back too, but I had already sent them a check, so I didn't read it.

 

[longrangeview]

Lisa Ma Palo Alto Toyota
"Price $48,095 2013 Toyota Rav4 EV
36 months lease

12k year

0$ down 0%APR interest

$417 + tax a month"



Tony Williams wrote: "This is exactly the Toyota USA advertised deal. Nothing special from any other Rav4 EV certified dealer."

longrangeview wrote:
The deal above prices the car at $48,096 but the deal below prices it at $48,588. So isn't the cheaper price better when both deals give the usual Toyota offer of $15,400 cash rebate, 0$down and 0%interest APR for 12K miles per year?

Dianne Whitmire at Carson Toyota September 2013 Deals
"leave the credit cards and checkbook at home - ZERO- 0000 cash needed.

This lease good thru Sept 30th, 2013.

In CA state, $444-459 a month + tax. UNLIMITED MILEAGE! (payment varies based on sales tax and transport)
And, CA residents get $2,500 cash back from the state of CA a few weeks later too.
To do the 12K annual, it's about $30 bucks a month cheaper.
This is a no-cash needed lease.

Thru 9/30, no extra charge for the usually $360-higher pearl white paint choice thru me personally.

And, whether your pricing is $48,588 vs. $48,888 will depend on how fast you act and what color car you select."

 

[rav4buyer]

Longrange,

Just go with Dianne's lease deal. Many people have gone through her on this board (including myself), and her lease deal is very close to if not the best out there. You can run around in circles all day trying to find the best deal, calling different dealers, etc. I'm not sure I fully understand your math in regards to this $48,096 (looks like is only 12K miles?). Instead of trying to hold out for the best price using fuzzy math with random dealers, just go with the tried and true. And If you happen to pay a couple hundred bucks more over the lowest price anyone has ever paid for the RavEV over a three year lease, then so be it, it will still be a fantastic deal.

 

[TonyWilliams]

... I'm not sure I fully understand your math in regards to this $48,096 (looks like is only 12K miles?)

He is not comparing apples to apples.

 

[cossie1600]

All the work for 400 bux over three years, I give up.

 

[longrangeview]

All the work for 400 bux over three years, I give up.

With a local dealer one gets the convenience of having your dealer nearby so you can drop in with any questions and concerns. Also, one skips having to pay a shipping fee. And of course all the taxes and fees are calculated over and over on that $400.00+ for 36 months and again on the residual if you buy...But never fear. Due to my timing issues, I bit the bullet and signed a Southern California dealer lease through Dianne. So I joined the group of long distance lessees...

 

[rav4buyer]

Also, one skips having to pay a shipping fee.

You mean Dianne didn't give you the free shipping like she did for me?









I'm Kidding. Congrats!