Leasing an FR-S

[JD121]

So bummed that there will no lease program on this car. Now looking at GTI's since they are offering great lease prices! I'm talking about $220 a month for 36 months $2500 down. Anyone else have info on if or when scion with add it to the pure lease program they have?

[tdoggy57]

Weird, I leased mine... I liked having the option after 3 years, more money in the mean time, and I can just save the money that I was going to pay forward and decide what to do with it when the lease is up.

I leased for 3 years, $384 payments ($396 including my parking lot ding protection), and only $1500 down. Maybe try another dealership?

[Liquidsnake]

My lease came out to $360 per month + tax. like $390 or something. $1,500 down.

I write off a portion of my lease, and have been leasing for 15 years now. Couldn't be happier. I may buy the next one in 3 years when I can get a sick FRS, with a body kit and all ready to go out the dealer door.

[tdoggy57]

Originally Posted by Liquidsnake

My lease came out to $360 per month + tax. like $390 or something. $1,500 down.

I write off a portion of my lease, and have been leasing for 15 years now. Couldn't be happier. I may buy the next one in 3 years when I can get a sick FRS, with a body kit and all ready to go out the dealer door.

Interesting we have similar numbers, my assumed higher interest rate is cancelled out by taxes I guess.

I didn't even consider leasing until I got to the dealership....Seems to be a much more flexible way to do things.

[Liquidsnake]

Originally Posted by tdoggy57

Interesting we have similar numbers, my assumed higher interest rate is cancelled out by taxes I guess.

I didn't even consider leasing until I got to the dealership....Seems to be a much more flexible way to do things.

Let me tell you my experience, I have never leased a car that after 3 years I wish I bought. That's right around the time expensive services start, and I have always felt that right around 36-40 miles I got the best the car had to offer. I get tired of the same car, and like to switch up every couple years. I rent the car use and abuse it, and then get a new one 3 years later. Its worked for me so far. One day I will buy. It will just have to be a real special car.

Lease history
06 Civic
09 Civic
2002 Jaguar X-type
2006 Infiniti G35
2009 370Z
2013 FRS


2015 FR-S Turbo with full TRD body kit. (god willing)

[icemang17]

I leased mine on Fathers Day.....tier one, zero down, 36 months, 67% residual ($16698) was $366 a month (almost 9% tax).......total drive off was in the mid $600's

[ruskymx]

I leased mine too and just received my first statement in the mail today too. My dealership made changes to our menu's and posted price so I was able to get it for invoice. It worked out because we didn't have another FR-S coming in within 30 days so we could change our pricing and not violate the Scion Covenant.

I'm paying $315 per month, 12k per year and I put $1000 that covered start ups and a little more that brought the payment down a few dollars. I was Tier 1 and the money factor is .00210.

I am still going to mod the car, but I am going to make sure that I keep all my original parts in case I don't buy it at the end or even before the lease matures. Maybe in 2015 Toyota will release the GT86 or have a TRD version of the FR-S or something cooler. I haven't been able to keep a car longer than 3 years anyway since 2000 so leasing will work great for me.

Ruskymx

[Hbomb]

That's nuts! I put $ 2800 down on a 36 month lease at 15,000 miles per year. Payments $311.00. Check the residual and look for other junk fees and profit stuffers. If all else fails call Kings Toyota in Cincinnati ask for Bruce Ihle. Straight shooters. No games. Great to work with. Tell him you were recommended by the guy that bought the black FR-S on May 30. Good Luck! This car rocks!!!

[Tanuki]

Originally Posted by ruskymx

I leased mine too and just received my first statement in the mail today too. My dealership made changes to our menu's and posted price so I was able to get it for invoice. It worked out because we didn't have another FR-S coming in within 30 days so we could change our pricing and not violate the Scion Covenant.

I'm paying $315 per month, 12k per year and I put $1000 that covered start ups and a little more that brought the payment down a few dollars. I was Tier 1 and the money factor is .00210.

I am still going to mod the car, but I am going to make sure that I keep all my original parts in case I don't buy it at the end or even before the lease matures. Maybe in 2015 Toyota will release the GT86 or have a TRD version of the FR-S or something cooler. I haven't been able to keep a car longer than 3 years anyway since 2000 so leasing will work great for me.

Ruskymx

With some major changes potentially in the future of this car, a 3 year lease almost seems perfect. What do we have to pay you to do our negotiating?

[ruskymx]

I actually had to explain to my general manager that we can change the price, but just had to have it posted on our website and showroom. He was just under the impression that it was not possible. The only way I see these being discounted is if some knucklehead dealer installed a bunch of accessories to their car and it sits for a while. Once they realize their mistake, they will lower the price to try and sell the car.

There is not a lot of profit in the car to begin with, which is in-line with the rest of the Scion line up. $1,196 of mark up which is about 5%. No holdback on Scions either unlike Toyotas and other makes.

Ruskymx

[Razz]

I figured with 3k down it should be closer to 277/mnth.

Now I see you posted Scion has it at 264/mnth

[enigmaaron]

Originally Posted by ruskymx

I leased mine too and just received my first statement in the mail today too. My dealership made changes to our menu's and posted price so I was able to get it for invoice. It worked out because we didn't have another FR-S coming in within 30 days so we could change our pricing and not violate the Scion Covenant.

I'm paying $315 per month, 12k per year and I put $1000 that covered start ups and a little more that brought the payment down a few dollars. I was Tier 1 and the money factor is .00210.

I am still going to mod the car, but I am going to make sure that I keep all my original parts in case I don't buy it at the end or even before the lease matures. Maybe in 2015 Toyota will release the GT86 or have a TRD version of the FR-S or something cooler. I haven't been able to keep a car longer than 3 years anyway since 2000 so leasing will work great for me.

Ruskymx

Is there a variance in the money factor from dealer to dealer? I'm still waiting on mine (should be in port tomorrow) but based on the numbers I'm getting I calculated a money factor of .00228 and I'm Tier 1. At least I should be Tier 1, they showed me the credit check they ran with my score being 810.

[ruskymx]

Originally Posted by enigmaaron

Is there a variance in the money factor from dealer to dealer? I'm still waiting on mine (should be in port tomorrow) but based on the numbers I'm getting I calculated a money factor of .00228 and I'm Tier 1. At least I should be Tier 1, they showed me the credit check they ran with my score being 810.

Technically, any dealer can charge whatever they want for a money factor as long as it's their posted rate. All the dealers around me have the same rate posted, which I show below. I would check your dealer's website for their Scion brand and see what is posted. A score of 810 actually gets Tier 1+ which should be .00200. When doing your calculations, make sure and don't forget about the acquisition fee of $650. That's from Toyota Financial and not the dealer. It's the same on all Toyota leases.

Scion All Other Vehicles Max Term 60 months - Tier 1+=.002, Tier 1= .0021, Tier 2 =.00255, Tier 3=.00345, Tier 4=.0041, Tier 5=.0049, Tier 6=.0055, Tier 7=.0067

Ruskymx

[enigmaaron]

Originally Posted by ruskymx

Technically, any dealer can charge whatever they want for a money factor as long as it's their posted rate. All the dealers around me have the same rate posted, which I show below. I would check your dealer's website for their Scion brand and see what is posted. A score of 810 actually gets Tier 1+ which should be .00200. When doing your calculations, make sure and don't forget about the acquisition fee of $650. That's from Toyota Financial and not the dealer. It's the same on all Toyota leases.

Scion All Other Vehicles Max Term 60 months - Tier 1+=.002, Tier 1= .0021, Tier 2 =.00255, Tier 3=.00345, Tier 4=.0041, Tier 5=.0049, Tier 6=.0055, Tier 7=.0067

Ruskymx

I can't find any lease rates posted on their site, just financing rates.
http://scion.delautogroup.com/financing/pricing.htm

Here's what the guy sent me:
$25,025 Price of the FR-S (includes trunk mat)
36 month Lease
12,000 miles per year
$0 cash down
$384.23 per month payment
$16,698 Residual at the end of the lease

So I calculated based on a total cost of $25,900 adding in the $650 like you said plus $225 as a rough estimate for tags. I think I saw you post somewhere that it was something like $217 and I'm actually not too far from you so I assumed it should be about the same. Maybe I did the math wrong but I came up with .00228.