Toyota Slashes 2021 Venza's Lexus-Like Pricing

Dec. 13, 2020 5:45 PM ET by Jay Traugott Pricing / 4 Comments

Something had to be done.

The reborn Toyota Venza is expected to be a top seller for the Japanese brand thanks to smart packaging, premium feel, and a design that's unique compared to its RAV4 corporate cousin and platform mate. We had high praise for the crossover during our time behind the wheel but a troubling report came in last month. In some parts of the country, leasing a new 2021 Venza could be quite expensive, as in Lexus NX expensive. It seems Toyota took note of the problem and has done something about it.

CarsDirect has noted a significant leasing price cut in the same region (Southern California) where it discovered the Lexus-like pricing in November.

For December, the price has been cut by $50 per month. A 2021 Venza LE is being offered at $349 a month for 36 months with $1,999 due at signing and a 12,000-mile yearly limit. Last month, the lease was $399 per month with all other details being the same. Thanks to the price cut, the Venza is now better competitively priced against its non-luxury rivals, though it's still $55 more than a RAV4 Hybrid but $50 less than Highlander Hybrid.

If you're not committed to leasing a Venza or any other Toyota crossover, there's also the highly regarded 2020 Honda Passport Sport.

Assuming you're eligible for the $1,000 loyalty discount, leasing a new Passport can cost as little as $209 a month for 36 months with $2,999 due up front. An effective price comparison between the Venza ($405 a month) and the Passport ($292) is quite significant in this case. Saving $113 a month for three years means you'll keep $4,068 in the bank.

But if your heart is set on a new Venza, then now is probably a very good time to lease or buy because of the end-of-year sales push.