Often Overlooked, Toyota Venza is an Incredible Lease Value: $276/Month, $0 Down
We all know Toyota’s RAV4 — America’s best selling crossover SUV. The hybrid version, which improves on the performance and fuel economy of the regular RAV4, is one of the quickest-selling vehicles today, averaging just 19.3 days on dealer lots before being sold.
But did you know that Toyota also sells a similarly sized, 40 MPG, all-wheel drive crossover called Venza?
All-new for 2021, Venza shares the same underpinnings and powertrain as RAV4 Hybrid, but differentiates itself with a Lexus-like design, upgraded features, and a higher starting price by $4,000. However, thanks to a strong lease program, the oft-overlooked Venza can actually be cheaper to lease than its mainstream sibling, RAV4 Hybrid.
Here’s what you need to know to lease one.
High Residual Value and Low Money Factor = Good Lease
When you lease, you’re paying for the depreciation that occurs during your use of the vehicle. All things equal, a car with a high residual value will be cheaper to lease than a car with a lower residual value (8 Things You Should Know Before Leasing A New Car).
For February 2021, Toyota Financial Services (TFS) has set strong residual values for Venza, as high as 66% of MSRP for a three-year, 10,000 mile per year lease on the LE trim:
| 2021 Toyota Venza AWD - 36 Month Residuals (TFS) | |||
|---|---|---|---|
| 10,000 mi/yr | 12,000 mi/yr | 15,000 mi/yr | |
| LE | 66% | 65% | 63% |
| XLE | 62% | 61% | 59% |
| Limited | 60% | 59% | 57% |
TFS has also set a low money factor — essentially the finance rate on a lease — for Venza. In California, the money factor is .00083 (equivalent to 1.99% APR), while in the Northeast Tri-State region and parts of the Midwest, the money factor is .00087 (equivalent to 2.09% APR). TFS varies the money factor by region.
TFS offers a Multiple Security Deposit (MSD) program that lowers the money factor in exchange for a security deposit. By using the MSD program to its fullest extent, the money factor drops to as low as .00011 (equivalent to 0.26% APR).
A high residual value lowers the depreciation cost of your lease, while a low money factor keeps the finance charge low. Combine them together and you get a great lease!
How do I get this deal?
The deal featured here assumes an ambitious but feasible dealer discount of $2,500, or 7% off MSRP, on a $34,015 2021 Toyota Venza LE, before incentives. (We find that dealers are discounting Venzas more heavily than RAV4.)
Your exact selling price will depend on factors like location and inventory. We recommend contacting a few dealers by email and asking for their best price.
There may also be additional conditional incentives, such as $500 Toyota loyalty, $500 military cash, and $500 recent college grad bonus, that you may qualify for. Additionally, non-captive lenders like US Bank and credit unions may offer competitive programs as an alternative to TFS.
Get started! Current program is valid through March 1, 2021.
Use Leasehackr Calculator to customize your own inputs, such as the MSRP and selling price. The link below will take you to a sample deal of a 2021 Toyota Venza LE ($34,015 MSRP) through TFS assuming $2,500 off MSRP, excellent credit, California registration fees and taxes (Southern California), $0 down payment, 10,000 miles per year, and Multiple Security Deposits.
It translates to $276 per month ($297 per month after tax) and $805 in drive-offs, plus security deposit.
Not keen on negotiating a lease deal on your own?
Not a problem! Find a deal on the Leasehackr Marketplace, where dealers and brokers post excellent off-the-shelf deals that require zero negotiation, including deals on 2021 Toyota Venza.