Prius Available for Lease

what are the benefits of leasing? i see no benefit in 100 percent interest...

"renfro >" I'm interested in leasing a Toyota Prius for 2-3 years? Is the cara

"renfro >" I'm interested in leasing a Toyota Prius for 2-3 years? Is the cara

IIRC, you can lease a car through a bank or credit union, as well as a dealer. Basically, the lessor buys the car and leases it to you for a fixed period of time. Then they sell it (possibly back to you).

Jeff

"renfro >" I'm interested in leasing a Toyota Prius for 2-3 years? Is the cara

I see no reason why the Prius would not be available for lease. If a dealer told you this, check with another.

The primary benefit of leasing is the lower cost of using the same vehicle than if you bought it. In other words leasing is a lower cost way having a new vehicle to use and should never be considered as an alternate way of owning a new vehicle. One should only acquire a short term lease, two to three years maximum and never with a mileage rate lower than what you will actually accumulate.

When you lease you expend less capitol than buying a deprecating asset that costs more to operate and maintain as it ages, by only paying for the time and mileage that you use the vehicle. A secondary benefit is you can get a lot "more vehicle" to use for the same monthly amount of capital. NEVER make the mistake buying a vehicle you have leased. The cost of buying your used vehicle is higher than simply leasing another new vehicle.

When I was in retail a lot of shoppers had one and two year balances on their two and three year old cars and they were looking to buy another new vehicle. They would end up carrying the large balance over to the cost of their next loan. Many buyers look for a monthly payment, that suits their budget, and not the total cost of owning that new vehicle.

For a person that wants a new vehicle every three years, leasing is a viable alternative to buying. For a much lower monthly payment one can lease the same vehicle and not need to worry about a year or two of more payments to refinance. With a short term lease the vehicle is always under warranty and all one need do is buy fuel and change the oil four to six times. I do not understand you 100% interest comment however. The only way you can own the same vehicle you lease is to pay around three times the amount of money monthly over the same number of years. Why would you want to do that just to end up owning a used car, when for much less money every month you can always be driving a new car?

mike

If there's any relation, I know fleet leasing companies lease them out to corporations/companies as fleet vehicles.

-Dave

They should be able to lease it just like any other car - but why do you want to lease?

The only time leasing makes sense is if it's to be a Company Owned Car for business use - then all the lease expenses are deductible against the profits of the company, and you aren't making a capital expenditure, it's a 36-month rental car. And even then talk to your accountant, companies can buy durable equipment, depreciate it down over a period of years and then sell it, and come out smelling like a bed of roses.

Toyota's hold their resale value so well that it isn't much of a gamble to buy one, after four or five years you'll get most of your investment back on trade-in. The only reason for an individual to lease is if your credit is totally destroyed - and even at that, you can usually find someone to float you a car loan. Do the math, but even high interest rates on a purchase will still be better than a lease.

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I just looked at a couple of sites for Prius lease quotes - cars.com residual values page, and lease compare, and neither of them list the Prius. A friend of mine recently leased a Prius from a Toyota dealer, but he ended up paying much more than he should have. The residual value in his 3 year contract was about $5000 less than the trade in value for a 3 year old Prius, so he's paying $5000 more for depreciation than he should. Plust they hit him for an initiation fee of $500 and a doc fee of $200 which all seems a bit excessive.

If you're not familiar with leasing, check out

You'll most likely save money bybuying the Prius with a loan, and selling it or trading it in 3 years. Good luck,

-chasfs

Well, this is exactly the reason why. My co. offered me to pay for lease payments up to $500 per month instead of giving me a raise. Naturally I'm searching for a short-term lease (u don't want to be in the hooks for a long-term lease) with no downpayment and as little expenses (low gas) as possible. That's why I'm looking for a 2Y lease for a cheap MPG vehicle like Prius.

I would rather lease directly from a Toyota dealer. If not, then my options are leasetrader.com or leaseswap for short-term leases.