You want a car for personal or office use, but the price is too high for you to purchase it in cash. What options do you have? Most car dealerships have arrangements with manufacturers to provide brand new cars on affordable financing or leasing terms. Financing means you purchase a vehicle, make a down payment (in some cases), and make small monthly payments for a given period. When the period ends, you will assume ownership of the vehicle. On the other hand, leasing involves making small monthly payments so that you can use the car for a given period, usually 36 months. There are several Toyota Sienna lease deals, which you can use to get your favorite car.
Should You Buy or Lease a Toyota Sienna?
Whether you should buy or lease a car can be confusing. This guide can help you make the right choice on how to get a car. Buying a car means you agree to pay the entire cost of the vehicle. You may pay for it upfront or get a car loan from a financial institution. A car loan or financing involves interest, which makes it more expensive in the long run.
On the other hand, leasing a car means you pay only for a portion of its value representing depreciation. For example, if the lease deal is for 36 months, the down payment and monthly payments include the expected depreciation for that period plus interest.
Benefits of Buying a Car
Buying a car means it becomes your once you finish paying for it. If the purchase is in cash, you will drive away with the vehicle and its title in your name. Financing, on the other hand, means the car becomes yours after the last monthly payment. The following are the benefits of buying a car:
- You Own the Car: Purchasing a car means you own it from the get-go, especially if you do it in cash.
- No Restrictions: With buying a car, you do not have to operate within certain mileage limits. You can drive the vehicle anywhere you want.
- Customization: Buying a vehicle makes it possible to customize it anyhow you wish. You can install various add-ons so long as you do not breach the warranty requirements.
- Resale Value: If you maintain your car correctly, it will retain a high resale value. Therefore, you can sell it at a good deal. That’s why you should only maintain your car at a manufacturer-authorized facility.
Demerits of Buying a Car
In as much as buying a car is good, it also comes with some disadvantages, which include the following:
- Up-Front Costs: Buying involves the payment of up-front costs, including a down payment. The lending company calculates the down payment based on your credit rating. If you have good credit, you’re likely to put down a smaller amount.
- Depreciation: The vehicle depreciates as soon as you leave the dealer’s premises. So, if you sell the car after a short period, you’re likely to make a considerable loss.
- More Expensive Monthly Payments: Buying a car means you’re paying for the vehicle’s total value. Therefore, the monthly payments are likely to be much higher.
Benefits of Leasing a Car
Leasing a car is quite different. The lessee doesn’t own the car but gets to use it for several months while the lease lasts. The following are the benefits of leasing a car:
- Cheaper Monthly Payments: Leasing a car means you pay for the vehicle’s depreciation value for a given period, say 36 months. Therefore, the payments are much cheaper than buying.
- No Worries about Resale: With a lease, you do not have to worry about selling the vehicle in the future. On the expiry of the lease, the car dealership repossesses the car freeing you from the burden of having to resale it.
- Easy Vehicle Upgrade: If you love driving the latest vehicles, leasing is the best option for you. You can lease a car with the newest tech gadgets every few months.
- Driving a Better Car: Leasing makes it easier to drive a fancier car than you can afford. That puts you at a higher status in society.
Demerits of Leasing a Car
- Ownership: The car belongs to the dealership. What you’re doing is renting the car for a given period.
- Restrictions Apply: Car leasing comes with several limitations, including a mileage limit within which you must operate.
- Possibility of Extra Costs: Violating any lease restrictions exposes you to extra charges, making leasing a car expensive.
Advertised Toyota Sienna Lease Deals
The current Toyota Sienna lease deals result in additional monthly payments, depending on the lease period. For the 2021 version of the vehicle, the average monthly payment is $521 per month for 36 months with $2,000 down. The mileage limit on that lease stands at 12,000 miles. Those who wish to take the 24-month or 48-month option will pay $620 per month or $498 per month, respectively.
If you want the 2022 version of the Toyota Sienna, a 36-month lease starts from $495 for the base LE model, $666 for the XLE model, and $799 for the Limited model. While these prices are available nationally, they may vary depending on your location. The following are the latest Toyota Sienna lease deals:
|Year||Model||Monthly payment||Lease period||Down payment||Mileage limit|
|2022||Toyota Sienna LE||$495||36 months||$1,000|
|2022||Toyota Sienna XLE||$666||36 months||$1,000|
|2022||Toyota Sienna Limited||$799||36 months||$1,000|
|2022||Toyota Sienna XLE||$612||36 months||$1,000|
|2022||Toyota Sienna Limited||$796||36 months||$1,000|
|2022||Toyota Sienna LE||$500||36 months||$1,000|
|2022||Toyota Sienna LE||$526||36 months||$1,000|
|2022||Toyota Sienna LE||$502||36 months||$1,000|
|2022||Toyota Sienna LE Hybrid||$470||36 months||$3,120||12,000|
|2021||Toyota Sienna||$672||24 months||$2,000||10,000|
|2021||Toyota Sienna||$620||24 months||$2,000||12,000|
|2021||Toyota Sienna||$650||24 months||$2,000||15,000|
|2021||Toyota Sienna||$674||24 months||$2,000||18,000|
|2021||Toyota Sienna||$512||36 months||$2,000||10,000|
|2021||Toyota Sienna||$521||36 months||$2,000||12,000|
|2021||Toyota Sienna||$540||36 months||$2,000||15,000|
|2021||Toyota Sienna||$563||36 months||$2,000||18,000|
|2021||Toyota Sienna||$487||36 months||$2,000||10,000|
|2021||Toyota Sienna||$494||36 months||$2,000||12,000|
|2021||Toyota Sienna||$507||36 months||$2,000||15,000|
|2021||Toyota Sienna||$530||36 months||$2,000||18,000|
Why should You Choose the 2022 Toyota Sienna?
Toyota intentionally gave the hybrid 2022 Sienna the looks of an SUV rather than a minivan. Of course, it has the traditional minivan sliding doors. However, the muscular body sides, a flat hood, and roof rack make it look like the Toyota Highlander, a midsize SUV. Under the hood, the car has a 2.5-liter, 243 hp, four-cylinder engine, which is incomparable to the Highlander’s V-6 engine. It boasts of one of the best fuel economies, delivering 36 mpg on average. It is available at an MSRP ranging from $34,560 and $50,000.
2022 Toyota Sienna Models
The 2022 Sienna is a vehicle worth considering, with any of its six trims a good option. You can choose between LE, XLE, XSE, Woodland Edition, Limited, and Platinum trims. All of these vehicles have a 2.5-liter, 243 hp, four-cylinder powertrain. If you’re on a tight budget, the LE is good enough to serve your needs. For heated seats, front and rear parking sensors, or second-row captain’s chairs, you can upgrade to the XLE. Even though pricey, the Limited and Platinum trims provide leg rests, ventilated seats, and leather upholstery. Below is a detailed description of each of the six Toyota Sienna trims:
- Toyota Sienna LE: With a $34,560 MSRP, the LE trim is available at $495 per month for 36 months on the advertised Toyota Sienna lease deals. It comes with impressive features such as a 9-inch touchscreen infotainment display, push-button start, remote keyless entry, tri-zone automatic control, cloth upholstery, and eight seats in three rows. Other features include a Wi-Fi hotspot, seven USB ports, Bluetooth, a six-speaker stereo system, satellite radio, Amazon Alexa, Android Auto, and Apple CarPlay.
- Toyota Sienna XLE: The MSRP for the 2022 Toyota Sienna XLE stands at $39,850. If you prefer leasing it, you will be required to pay $666 per month for 36 months. Apart from the features of the LE, this vehicle has second-row captain’s seats, synthetic leather upholstery, heated front seats, proximity keyless entry, and quad-zone automatic climate control. There’s also a power liftgate, fog lights, hands-free power sliding side doors, a moonroof, an eight-speaker stereo, HD radio, proximity keyless entry, front and rear parking sensors, and fog lights.
- Toyota Sienna XSE: The front-wheel-drive models of the 2022 Sienna XSE cost $42,100, while the all-wheel-drive models cost $42,860. If you decide to lease this vehicle, you will pay more than $680 per month for 36 months. Apart from the features offered by the XLE, the XSE has 20-inch wheels, an in-car intercom, and a navigation system.
- Toyota Sienna Woodland Edition: The Sienna Woodland edition has a $45,350 MSRP available only in all-wheel-drive. We couldn’t find any advertised lease deals for this model, but it should be nearly more than $700 per month for 36 months. Its features include wireless device charging, a 12-speaker stereo, and two 120-volt power outlets. Some optional features include a rearview mirror with an integrated camera and a rear-seat entertainment system.
- Toyota Sienna Limited: Front-wheel-drive model of the 2022 Toyota Sienna costs $46,800, while the all-wheel-drive model has a $48,800 MSRP. The advertised lease deals for this particular model stand at $799 per month for 36 months. It comes with all the features you would find in the Woodland Edition, together with a second-row leg, ventilated front seats, and leather upholstery.
- Toyota Sienna Platinum: The Platinum is the highest trim in the Sienna stable. Its front-wheel-drive models start at $50,000, while the all-wheel models cost $50,760. On a 36-month lease, the vehicle costs more than $800 monthly. Apart from the features of the Sienna Limited, this particular vehicle has a surround-view parking camera system, a heated steering wheel, heated second-row seats, and a head-up display.
The Bottom Line
The Toyota Sienna minivan is a spacious vehicle that carries up to eight people. It is available in six trims, providing you with the luxury of choice. You can either purchase this vehicle outright or take advantage of the advertised Toyota Sienna lease deals, mostly lasting for 36 months. However, easing is way cheaper than buying a car through car loan financing. Its SUV-like body makes it one of the most desirable minivans. Besides, leasing makes it easier for you to enjoy the latest tech features after every few years.
Frequently Asked Questions (FAQ)
How do you get the best price on a Toyota Sienna?
You can get the best price on a Toyota Sienna by purchasing directly from dealerships at the manufacturer-recommended MSRP. Paying the cash price is usually cheaper than financing since it doesn’t involve any interest.
Is there a 2022 Toyota Sienna?
Yes. There’s a 2022 Toyota Sienna, which comes in six trims – LE, XLE, XSE, Woodland Edition, Limited, and Platinum. There are several Toyota Sienna lease deals through which you can get this vehicle.
Is the Toyota Sienna reliable?
Yes. Toyota Sienna is reliable. J.D Power rates the 2022 sienna as “excellent” with four stars out of five. It comes with a three-year or 36,000-mile warranty and a five-year or 60,000-mile warranty.
How many miles will the Sienna last?
A Toyota Sienna can last more than 200,000 miles with proper, consistent maintenance. In some cases, the vehicle can last for more than 300,000 miles, making it one of the most long-lasting minivans.
Where is Toyota Sienna built?
In the United States, a Toyota Manufacturing Company factory in Princeton, Indiana, manufactures the Toyota Sienna. Therefore, you don’t have to worry about high prices occasioned by import costs.
Does the Toyota Sienna hold its value?
After five years, a Toyota Sienna is likely to have depreciated by 44%. Therefore, a vehicle with an MSRP of $42,100 will have a $23,576 value after depreciation over five years.