Toyota brings back Socal car rental offers

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Social rental agreements are back on Toyota’s lineup after a huge 7-month absence amid the global chip shortage. However, a rental bulletin from regional dealerships reveals that newly announced rental promotions are expensive and may be poor value ahead of the upcoming 2022 Presidents’ Day holiday.

The brand’s cheapest lease is for the 2022 Corolla LE at $229 for 39 months with $2,999 due at signing. The agreement includes an allowance of 12,000 miles per year and has an effective cost of $306/month. That’s only $5/month more expensive to lease than the cheapest lease on the 2022 Honda Civic LX ($301).

But is it really a good deal? Before Toyota stopped advertising leases last summer, the same car was advertised for just $199 with $1,999 signing or $255/month. That’s a difference of $51/month and no doubt represents the steep price increases we’ve seen following a stock-out.

We’re seeing similar price increases elsewhere in Toyota’s lineup, resulting in some pretty awful deals. For example, the 2022 RAV4 LE is listed at $319 with $2,999 at signing or $402/month. That’s the same price Mazda advertises on the 2022 CX-9 Sport, a $36,000+ SUV model with three rows of seats.

Unfortunately, a closer look reveals that Toyota limits Southern California leases to models such as the Corolla, Camry, RAV4, and Highlander. Newer vehicles like the redesigned 2022 Tundra and Corolla Cross are excluded. This could make it harder to get a deal if you plan to buy around Presidents Day.

Toyota halted advertising leases in Socal last July based on dealer feedback. While it’s encouraging to see offers again, Toyota’s Southern California inventory hasn’t really recovered. For example, at Longo Toyota, one of the largest dealerships in the country, you will only find one Corolla advertised online.

Consumers should be aware that actual prices are determined by dealers based on market demand. Therefore, while there may be manufacturer incentives and advertised lease deals, there may be no real guarantee that new car buyers will even be able to get Toyota’s advertised prices.

Best Toyota Lease Deals and Discounts

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