QuestionA private individual is leasing a 2008 Toyota Camry hybrid. States due to a career change needs to sell. The price seems high and I don't know how to determine what is a fair price, a good deal. The vehicle has 8000 miles on it. How can I tell if it is a good deal. They have been advertising since the end of May, I don't know if that means anything. Thanks for all help.
Answer1) I can't tell you what a good price is on this car, because I can't see it in person, and I don't know what a Camry Hybrid generally sells for in your area. Check all the ads available in your area to get a feel what people are asking.
2) The person leasing the car can't sell it to you, because they don't own it- the leasing company does. They can negotiate how much they sell it to you for, but they have to purchase it from the leasing company first, get a title in their name and then sell it to you, and that might take months, depending on the state in which you live. Or, they might have the leasing company sell it directly to you, and the current lessee can make some profit. And that's the reason the price seems high, as I'm sure the lease balance is higher than what the car is worth (which it always is when someone wants to get out of a lease early.
3) Most importantly, is a hybrid right for you? The Camry Hybrid will get about 10-12 MPG more in constant city driving, but only about 3 MPG more than the regular 4-cylinder on the highway. Do you do nearly all your driving ONLY in the city? If so, then the hybrid is worth considering. But you can buy a regular Camry 4-cylinder for far less, and if a good portion of your driving is outside the city (and I mean constant stop-and-go, slow-speed Manhattan type of driving), then you won't be saving a thing by paying a premium price for a hybrid right now.
