The lease on my '13 Persona (Black Cherry Pearl) is ending next month with a residual of $16,800. It has only 22k miles. I really like this car and I'm seriously considering buying it. I think the residual seems high. Has anyone ever been able to negotiate the price with TFC? Do you think it is worth the price?
why not look around, to see what they are selling for? seems like a decent price to me, especially since you know the cars history, which is virtually impossible with a pre owned.
One important thing to consider is, what kind of interest rate they are going to charge you if you do buy. I think the price may be in the ballpark if you buy it outright.
"They" would be anyone or any financial institution you choose to finance with... So shop around for the best rate should you choose to buy out your lease...
Truecar has two Persona listed within 250 miles of me at $18000 with about that mileage. Your residual looks likes a good price and you know the car's history.
I'm pretty sure I am going to buy it. I'm going to try to negotiate with TFC but I've heard the residual is etched in stone.
I just got this email for my local Toyota dealership. $299 a month lease with $2500 down for a 2016 two! Not bad..
You've already done the fleece, so you might as well pay the residual drive the car for 6-7 years and let it start paying you back. 16.8 is a little high, but you know the car's history, and gas is probably more expensive than $1.39 where you live, and so it pays even more to drive the Prius. Besides.....the BCP is probably one of the better colors for the G3. Get a finance quote from a Credit Union or a small bank BEFORE you buy out the fleece. My CU is lending money on a 3 year old car for.................... (let me check)............. 1.99%....and whoever said that the residual was etched in stone might not have been accurate. Everything is negotiable. Toyota's already made their money on this car - but it will still be cheaper for them to sell it to you than it will be to wholesale it to another buyer, or prep it for retail. Really. Buy the car. DON'T buy any attached geedunk (warranty, service plan, etc) Get pre-approved and haggle with them. Aggressively. Like......leave the car at the dealership and tell them that you're going to shop for a Hyundai aggressively. If I'm right? They won't let you leave....but be prepared to leave anyway. They'll call you. If they think that you're not prepared to walk away from the car then you might as well toss your wallet on the desk and tell them to be gentle with you (they won't!) Good Luck! EDIT: Ooooo. I don't like to bum-dope people, so I just did a little light reading on Toyota fleeces, sicne I'm not a big fan of this process. I was right about the negotiating, but in this case, this should have happened at the beginning of the fleece process. On the back side? I think you're better off just paying the asking residual with pre-approved financing from a CU, and avoiding the add-ons. The good news is that the Prius is a frugal, dependable car. If you're wise, when it's time to sell (NOT trade!) you won't have to lease your next car. Again.... Good Luck!
