Not sure where to put this, so if it needs moved, so be it.. So I'm shopping around for my first prius. I have come to the conclusion that I am NOT going to get a decent somewhat trouble free prius for $6500 cash... I know in the long run I will pay dearly, but I am wanting to keep my payments under $300/month. And I want to expierence the joys of having my own car that doesn't have over 75kmiles on it when I buy it. What I was thinking of doing is doing a 36month lease on a 2011 prius. The terms are: $239.00 per month for 36 months $2499.00 due at signing I do NOT know the sticker price etc, I just found this online at the local dealer. I am just wondering after 36months, how do I figure how much I would have to finance to purchase the car but yet still keep the payments under $300/month. The reason why I want the payments under $300 is because I know, my wife will be utterly ticked off, if I come home with a new car and refuse to allow her one. (even though her's isn't even 5yrs old yet.)
If you lease, with the idea of a later purchase, then you pay sales tax twice, no? You are right, you will be hard pressed to find a good 2004+ Prius for $6500. One with 75K miles or less is probably $10K and up, unless it is salvage title.
First you should never buy a car on a monthly payment. All dealers are scumbags and they will play games with the numbers to meet your target and you will lose. They will finance your car for 10 years to meet a number. Find out what features you want and can afford and use an on line amazation tool to figure out your monthly payment. It is not that hard to put together. The biggest problem with a lease is it forces you to buy a new car every three years. You are way better off buying a Prius and keeping it more than three years. Toyotas are the most reliable cars in the world. It will last. Last do not let the dealer sell you anything more than the car. No insurance on your loan, no rust proofing, no super wax coat on the finish, No special coating for the seats and worse do not buy the extended warranty or the extended service contract.
No one can do this for you - the only way is to get the information from some dealers and figure it out. The cheapest way normally is to purchase and keep the car a long time -- but if you change cars often then leasing can be less expensive. I have leased cars and then bought them -- I have even done "one payment leases" ... Manufacturers subsidize leases just like they provide rebates and finance rates. But it changes all the time with each car. With Toyota running hefty discounts and 0% for up to five years -- buying is most likely cheaper -- but more then $300.00m The dealer can give you the money factor (finance charge in a lease) and the residual value -- just make sure you ask about the lease fee and buyout fee. You pay tax on the lease payment -- on states that charge tax that way.
