Please, I will appreciate a lot if somebody can tell me about what is the residual value on Camry (2018 or 2019)?
What is the difference between the models in Camry, and which one is better.?
What do I need to look at the best deal for a brand new Camry (features)?
All about to know to get the best deal in a lease...

Thanks a lot

 

The process of leasing a car can be easy but it's complicated. The dealer who is an expert at leasing (and selling cars) can leverage this complicated process to their advantage.

What do you want in terms of a lease? How long a lease do you want in terms of years? What is YOUR criteria for a good lease? Is this based on the monthly payment amount or upfront costs you need to pay before taking the car? The dealer can adjust the lease to YOUR needs and monthly payment, but you may be paying for this somewhere in the lease in terms of a higher total lease cost.

Dealers can engage in a process of asking how much you can afford to pay per month the adjust the lease terms to meet this. The situation here is this monthly payment can reflect a good or bad lease for you.

Try your best to understand the lease, all the terms, conditions, requirements, etc!

A lease has a LOT of terms and some have dollar figures attached to them, all of which can be confusing. The dollar amounts attached to these terms can be adjusted to meet your needs but also to maximize dealer profits.

The lease has a lot of conditions attached to it one being what is normal wear and tear. If the car has more than say 36000 miles on it at the end of the lease, you may be required to pay xx cents per mile over that amount. If the tires have less then XXX amount of tread left you may need to pay for the cost of new tires. Ditto for dents, cracked windshield, major scratches, etc. If the lease extends beyond the cars warranty find out who will pay for repairs. Perhaps here an extended warranty is something to consider. If these repairs are not done, you may need to pay for them at the end of the lease.

As such at the end of lease you may need to pay for what is considered more then normal wear and tear.

Residual value is a generated value. It's an estimated value of what the car will be worth at the end of the lease. This being the difference between the new cars value and the value of depreciation and wear and tear. It can or cannot reflect the actual value of the car at the end of the lease. Note that your payments will include this difference as someone needs to pay for this lose in value. Residual valve can be negotiated. Dealers can increase residual valve to lower your monthly payment but this is not without issues to you. Cars.com has a program to help determine residual value.

You may or may not be able to purchase the car for the residual value price. However the lease will have an end of lease purchase price on it.

Get as MUCH information as you can on car leases and understand them before going to a dealer. Under lease, all the terms, conditions, requirements, etc!

Cars.com has a program to help determine residual value.

Get as MUCH information as you can on car leases and understand them before going to a dealer.

Might review the info at the link below:

https://www.dmv.org/how-to-guides/leasing.php

As to the actual car. Suggest you start out understanding what you want in a Camry, what's available and what the price is.

Toyota did a major redesign of the 2018 and tends to stick with that design for a few years. Barring a few minor things the 2019 should be the same as the 2018. One issue for some buyers is the possible availability of Apple CarPlay which had not be available in the past, if you use such.

Which car is better the 2018 or 2019, probability equal. Although the 2019 of course is newer. This would affect the price and residual value. If you go with the 2018 you want the price and residual to reflect a car that although new, started out as one year old in your lease.

Suggest you decide what you want in the car such as engine, trans, stereo, etc. Camry comes in various trim package levels such as LE, XLE, XLE V6, SE, XSE, etc. Each package is different. Go to the Toyota site and edmonds.com and find out the differences and what you are looking for.

There are websites that can provide dealer realistic prices, profit margins, etc.

The dealer may or may not be able to find the exact car you want depending on the year you are leasing. You might get a better deal if leasing a car off their lot.

In closing, the dealer is an expert at leasing cars to their advantage and you may not. Try to get up to speed BEFORE engaging in a lease negotiation.

 

I bought my Toyota Auris by taking a loan. The previous car I insured at a good company. So I thought to take this loan at the same company. I pay 600 monthly, three years. How does it work? This will give you an idea of how much you will need to borrow. If you have any savings, you could use some of this to pay towards a deposit in order to make the size of your loan smaller. Money expert has a 10% deposit. I searched for some more companies but their deposit seems to me too high. The process is easy-peasy, read the contract, and sign it out.

 

So, I agree with you that getting a loan is the best option for owning a car instead of leasing. BTW, I insured my car due to your recommendation.