Is this a good lease deal on a 2007 Toyota Camry?

Question

315/ month including tax
36 month
1,500 down
12,000 residual value
15,000 miles/ year
selling price: 19245+Tax and license etc
The dealer said he cant offer any better, what do you think?

Answer 1

It's fair, but leasing really limits you. If anything happens to the car, you'll have to have it repaired at a certified Toyota garage, you'll have to really watch your mileage or you'll be stuck paying when you turn it in.
I leased a car, had to replace the front bumper. Dealer garage wanted $750, a smaller, independently owned garage wanted $200. EXACT same bumper. Go figure.

Answer 2

It seems like a good deal... If this is in Canadian dollars! Honestly, I wouldn't lease a car, unless you have some circumstance that requires you to get rid of your car in 3 years, I would buy a car. It is also important to realize that Japanese Car dealerships are known to hard sell. If you bought a one year old car, financed it at 8%, for 36 months, you would pay the same per month, and own the car at the end of the term, for you to sell or keep. I made a lot of assumptions when calculating this though, so you need to do the calculations your self. It seems like a pretty mediocre deal to me, however.

Also, important to remember, make sure that the Title and Registration fee is not higher than $289, and also remember that there are laws against adding extra services after an agreement is made, such as "undercoating" or "VIN etching." Also, remember to ask for a 3 day "cool down" period, its not required by law in most states, and if you are unsure, or decide you don't like the car, than you can do this. This shouldn't cost extra.

Answer 3

Check out this site first. Look at Hyundi
http://autos.msn.com/home/reliability_ratings.aspx

Answer 4

It's fair.