Toyota Offering $149/month Lease Deal on Corolla

You can lease the Toyota Corolla LE, nicely equipped, for $149 a month (36 month lease, 36,000 total miles allowed, $1,999 due at signing). The $1,999 includes a $1,200 down payment, first month's payment, and a $650 acquisition fee.

A lower down payment means the monthly payment amount goes up. With $500 down, the payment goes to $169. No down payment (but include first month's payment and the acquisition fee) and the monthly payment goes to $182.

Why such great deals? The car's price has been discounted about $2,000, the lease-end residual value has been set higher than normal, and the lease money factor is .00002 (equivalent to a 0.5% APR interest rate.) All these factors combine for a very low monthly lease payment for this fine automobile.