One of my friend leased a brand new Toyota Sienna fully equipped for $0 down. He's paying $400 a month for 3 years.

Is it a good deal? or too much?

$400 a month, considering no drive off seems too much for me.

Regardless, car looked awesome!

 

It's hard to say if that lease is a "good" deal only going off that information. You have to consider where he's going to be when the lease ends. If he plans to buy it in three years, how much is he going to have to finance? If he wants to just return it to the dealer, did he go over his allotted miles? Did he keep up with maintenance? What additional repairs are they going to charge him? You have to remember that if the lease ends with 36,000 miles on the vehicle and the scheduled maintenance says to flush the trany, replace the brakes, replace the tires, whatever; the dealer requires that to be completed before you return the vehicle or they charge you for those services and do it themselves.
Leases are never that great of a deal, you're basically paying for the depreciation of a vehicle.
If you're friend is happy, although I'm not sure how happy one can be in a minivan, then yes he got a good deal; if he's hating life then no, no he didn't.

 

Hey Flyin, thanks for your reply.
He's a married man w/ 2 kids who really needed extra seats and space, so I'd say he was pretty happy with his new mini van.
I did not know the dealer charges for whatever maintenance needs to be done before the lease ends.
That actually gives me clear idea why I shouldn't be going with long term lease.

Thank you again for your information. That was really helpful!