Is this a good deal? What is the "catch"? I'm not familiar with leasing - I see that when a monthly payment is posted, then people as for the "residual". Is the residual the lease-end purchase option? Or a fee at the end if you *don't* buy the leased vehicle? Sorry for my naiveté/ignorance. Thanks! From Broadway Toyota website: (Prius Plug-In Lease) $288.31 per month for 36 months $2,000 due at signing Disclaimer: Lease a new 2012 Prius Plug-In (Model: 1235) for $288.31 a month for 36 months with $2,000 due at signing plus $3,150 Bonus Cash, which includes $4,786.69 down payment, $288.31 first month's payment, $0 security deposit and $75 administration fee. Based on model #1235. Base MSRP including freight is $32,985. Monthly payments of $288.31 total $10,379.16. Capitalized cost of $31,725.87 based on down payment and dealer participation. Lease-end purchase option is $17,600. $350 disposition fee due at lease end unless customer purchases vehicle or decides to re-finance through Toyota Financial Services. Total lease cost is $15,240.85. Lease includes license and title fees. $650 acquisition fee included in the payments. Closed-end lease. Valid on stock #1050019. Payment may vary depending upon final transaction price. Customer is responsible for maintenance, excess wear and tear and $0.15 per mile over 12,000 miles per year. To qualified Tier I+ customers through Toyota Financial Services. Offer expires: 9/4/2012
I was about to lease a gen3 with 8k down for 36mts, worked a killer deal for 170/mt. Then aug 1st they came out with the new program on the PIP, so i got same deal on a base PIP for 178/mt! So now im getting a PIP for 8 bucks more per month. Residual is higher ofcourse(17,600 PIP VS 15,800 for NON PIP) If i like it I plan to buy car out after 36mts....the 3150 off the top from toyota is a great incentive to get the PIP!
It is a good deal. Only catch is make sure your mileage will fit the 12,000 year and that note it is the "stripped down" PIP without some of the options.
I think so....all i know is with the new PiP lease program, and many 12s left on the dealer lots locally, the dealers are willing to deal bigtime. 178/mt with 8k down at one dealer actually beat the same lease on a NON PiP three model at another dealer. My paperwork shows $29,761 is the number they worked with(sticker is $33,045) and the residual is higher on the PiP VS the non PiP three model i was originally going to lease. so that about 2k resid and 3+ K in cash back from toyota, which brings payment down near same as non pip. Pretty excited as most my daily typical drive is around 15 miles, but then all the road trips just will be same as normal prius at 50mpg. Hard to beat 8 dollars more per mt only. I might end up only using HV on roadtrips.
Have you tried Luv Toyota in Lakewood NY? That's where I bought mine. Kelly Sanfilippo was my salesperson
I am in WNY(Buffalo/Niag area) I have a few dealers locally and it was funny getting them all to quote me a lease price...and as soon as one said 178, they all said they would beat the other dealer...I think the 178 deal i got with large down payment is pretty much down to their bare dealer cost at that point. I was just so happy as I was all ready to buy the NON pip three model by end of July, but as I'm waiting to sell my car i wasn't ready to buy til august, So the new lease programs came out for Aug and my sales guy called me and said i could have a new PiP for near same as i was gonna pay for the NON pip (170 for non pip three)....i do think the lease program got better on the THREE model too, but the way i see it is Im getting a pip now for about same as I nearly paid for three model last week, if i had got it before the new programs. Now that im researching the pip im very excited!.....I hope if all goes I should have my Grey pip in about 7-10 days!
Yeah, I know you're in the Niagara Falls/ Buffalo area. Read your location on the left of your post. You're just north of Lakewood. Alrighttt! Welcome to the Pip family
Odd, ive never heard of LUV toyota, Im wondering where it is? Lakewood, I thought that might be just below Buffalo near Hamburg but I have a feeling its much further. Ill google up that dealer to see where hes located. I see your Mich...the guy buying my GTI is coming from Mich(North of Sarnia/Detroit) to buy my GTI next week sometime. thanks for the welcome, I'm very excited!
think he said hes up around Saginaw/Bay city Mich.... I just googled Luv Toyota....I see they are down near Jamestown NY. Thats about 2 hrs south of me. What made you end up down there? One thing i like coming from VW world to Toyota is we have alot of dealers here WNY. So they are all pretty good at beating up eachother. LOL
When I signed up online at the Pip website last November. I put my address in and Luv Toyota was the closest Dealer to Michigan. Sarnia is across from Port Huron. He's probably crossing over the Blue Water Bridge in Port Huron and zipping across Canada.
yep he will cross ontario.....think we figured 5 hrs from him to me. I have a friend who is from near you(Detroit suburbs) and she now lives here, but she goes back and forth alot to visit family. She goes thru Ohio once in awhile and she says it adds about 2 hrs! I used to head to London Ont alot myself, not far from Sarnia ect.
