2021 Toyota Venza Lease Nearly As Expensive As A Lexus

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - November 9, 2020

While the all-new Toyota Venza hybrid may be sleeker and more fuel-efficient than the previous generation, those looking to lease one ahead of Black Friday may find it to be nearly as expensive as a Lexus. In fact, our analysis of dealer incentive bulletins finds that Toyota's first Venza lease can be a relatively lousy value.

Here in Southern California, the 2021 Venza is listed at $399 for 36 months with $1,999 due at signing. That's based on an MSRP of $33,914, an allowance of 12,000 miles per year, and equates to an effective cost of $455/month. However, a closer look finds that shoppers could upgrade to a Lexus NX for just $17.

At the same time, the 2021 NX 300h is listed at $389 for 36 months with $2,999 at signing, or $472/month. While the Venza is larger and more powerful, the NX lease is based on an MSRP of $45,405. As a result, you may be able to upgrade to an SUV that's almost $11,500 pricier for about the price of a large pizza.

So why is the NX such a better value? Apart from a bigger discount ($1,250 vs. just $500 for the Venza), the NX has a substantially lower interest rate equivalent to 0.3% APR (vs. 4% with the Venza). To help sweeten the deal, Lexus's December To Remember Sale offers a complimentary lease payment (up to $700).

That said, there are some important details worth knowing about. For example, the offer on the NX is based on 10,000 miles per year (vs. 12,000 for the Venza). Secondly, the Venza is still a relatively new arrival and could be harder to find. Offers can differ in some parts of the country, so be sure to check local prices.

If you're set on taking home a Venza, you may to buy rather than lease. Although last month's unadvertised discount is gone, Toyota Financial is offering rates as low as 1.9% for 60 months. Unfortunately, that's still nowhere close to some of the latest Black Friday deals like 0% APR for 84 months on select GMC models.

Current Toyota offers end on November 30.

Top Black Friday Car & SUV Deals »

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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