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Toyota Highlander Lease Questions

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  • fsufanfsufan Posts: 35
    Car Man, would appreciate the money factor and residuals for a 36 month 12k per year lease in NJ. Assuming Cap cost on the SE of $32,352 - MSRP-$34,730 what kind of payment would I be looking at with 0 down. 7% tax. Thanks.
  • Hey car-man,

    Any clue as to whether it would be a good idea to lease a 2009 highlander as opposed to a 2010 (for example better money factor/lease cash)?

    I've found a couple of 2009 and am wondering if they would be a better deal.

    Thanks!
  • shpuntshpunt Posts: 7
    Visited a delearship nearby and was told that the current MF for NY is 0.00255.
    Anyone heard otherwise?
  • I am looking to buy or lease a 2010 Limited AWD Highlander with package #7 and rear ent package and tow package. I was wondering if you can provide any numbers on a lease. I want to put zero down (I will pay the usual first and last and taxes upfront). I have been so discouraged by the lease deals out there that I am considering buying - possibly a 2009 with very low mileage. I see there is a few thousand between MSRP and what people are paying. Just wanted to know what to expect when I hit the dealers this month and try not to get hosed.

    Thanks for any help you can provide. I am in New York and coming out of a BMW
    X3 lease in March. Had a good lease deal on that - currently pay $465 (hoping to pay a little less on this one or around the same) on a X3 with premium package and privacy glass. Nice car, but I need a 3rd row and more storage room.
  • I went to look at a 2010 Higlander LTD 4WD with ent package and package #8 etc.
    The sticker price was 41,000 and some change. My husband and I walked out on the guy after he first came out with the number on a lease of $589 (36 months no money down) and then went to 485 with us putting $2,000 down - He kept telling me he came down a hundred dollars which is bull since he's getting 2K from me so I know he only came down about $40 off the payment. My current lease is 465 and I am looking to pay around the same or lower. Anyone recommend a good dealer on Long Island, NY. I am getting tired of the run around and wish I could get a decent answer when I ask what the sales price of the auto is.
  • mdhuttonmdhutton Posts: 195
    You wanted no money down on a $41K+ car for 36 months and are surprised at $589/mo lease? That's right where it should be.
  • carman, do you have any california money factors for the 2010 SE and the Limited?
    thanks!
  • Does anyone know if the money factor and residual value would be the same for a new left-over 2009 Highlander (when compared to a comparable 2010?)

    Thanks!
  • Yeah maybe thats the right price for 41k, but I am not looking to pay sticker so it wasn't a good deal for me. Maybe they would deal with people now with the huge recall going on. I will be purchasing a GMC Acadia, much more room and same options for a price that was right for me.
  • Hi porsche911c4s. Nor surprisingly, Toyota is not providing lease support on leftover 2009 models any longer. If you can still find one, you probably still can lease it through Toyota Financial Services. In order to do so you will have to use ist standard lease money factor. TFS current buy rate standard lease money factor is .00255 for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual values for 2009 Highlanders are definitely lower than the resids for 2010 models. If you provide me with a detailed description of the exact truck that you want I should be able to give you an idea of what TFS' current residual value percentage is for it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tredvr6tredvr6 Posts: 10
    I am in the Northeast Region and considering leasing a 2010 Highlander SE 4WD for 36 months with 15k per year. Does anyone know what the money factor and residuals are for March?
  • tredvr6tredvr6 Posts: 10
    Here is the lease deal I've worked up on a Highlander SE 4WD. These numbers are for 36 months with 15k per year. I believe MSRP is $34730.

    Cap Cost $31687
    Residual $20019
    Money Factor 0.00115
    Monthly Payment $383
    Total due at signing $1331
    (includes $298 doc fee, $650 acquisition fee and 1st month payment)
  • Hi Tredvr6,

    Could you possibly provide me with the name of the dealership/state? Looking to score a deal and that looks pretty good!

    Thank you!
  • hondo11hondo11 Posts: 2
    Tredvr6,

    I would really like the dealer name and location also. Looks like a great deal!
    Thanks!
  • tredvr6tredvr6 Posts: 10
    The dealership I am working with is Boch Toyota in Norwood, MA.
  • ksuh2000ksuh2000 Posts: 5
    edited March 2010
    tredvr6,
    Is your payment of $383 inc tax or excl tax?
  • tredvr6tredvr6 Posts: 10
    The $383 payment excludes tax. Although the dealer is in MA, I live in NH and we don't have sales tax.
  • Hey Car_man,

    Please provide the MF and residual % based on a 36 month, 12k/yr lease for a 2010 AWD Highlander Limited with Extra Value Package 8.

    Thanks in advance!
  • hondo11hondo11 Posts: 2
    I just did this very same lease this past weekend. This was in NJ so not sure if MF is the same everywhere. I got .00115 MF with residual of approx 54.5%. My MSRP was $40,512 and res was 21,655. I ended up settling on a price of $35,900. Hope this helps.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey nickdetomaso. This vehicle's lease program varies by trim region. Generally speaking, Toyota Financial Services' March buy rate special lease money factor for Highlander Limited models is around .00100 to .00115 in most areas.

    TFS' current residual value for a 36 month lease of a 2010 Highlander Limited AWD with 12,000 miles per year is 57%. The problem with this percentage is that it is for base vehicles. TFS places restrictions and caps upon what options can be residualized. This not only makes lease payments difficult to estimate, it also makes its effective residual values lower than its percentages appear.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I had negotiated a lease deal on a base 4WD Highlander about a week ago and completed a buyer's order and left a deposit. Dealer did not have one in stock and was currently in process of locating. I didn't have very specific parameters as we were comfortable with multiple color options. Spoke to the dealer mid-week and they were still trying to locate.

    They did not return my call over the weekend and now the lease special has expired. I couldn't get into the dealer yesterday as I was out of town for work. Due to the deposit and signed buyer's order which clearly indicates final monthly payment price, will they honor? Or should I say, "should" they honor? Or do I need to get my deposit back and get a Honda Pilot?
  • shpuntshpunt Posts: 7
    Beardown2 - I wouldn't be concerned with lease special. I just received a call from a dealer that I visited on Saturday, confirming that alll lease programs remained exactly the same as for the period that ended April 5th.
    This is in Westchester County, NY State, but it sounds that it's a nationwide program.
  • jaswjasw Posts: 1
    A Toyota dealership in North Jersey quoted me a
    36 months, 12K, .0015 MF on a 2010 Highlander Sport, AWD, Leather, and Sunroof for $1,500 down and $439 monthly. Is this reasonable?
    I am returning a 07 Highlander Limited off lease.
  • garriegarrie Posts: 1
    I am looking at a 2010 AWD Highlander Ltd fully loaded with the third row of seats.
    What would be a good $$$ figure per mo on a 36 mos, 12k lease? My dealership is offering me $520 / mo with $4K down...that seems very high with 0% financing. Thanks for any help or advice. PS: Am I right in considering this car relative to Honda?
  • imgdocimgdoc Posts: 30
    I am shopping for lease and got this offer:

    FWD base model, 12K 36months
    $383 +tax a month with only 1st payment due at signing.
    Is this a good deal?
  • infosysinfosys Posts: 1
    That would not be a good deal in the New York, NJ, CT area. Toyota is now offering a 36 month lease for $269 a month, with $2,730 down and a purchase option at $18,071 for model #6948. The total of that is $30,485. 12,000 miles a year, then 15 cents.

    Your payments total $13,788 - not $12,414 above.

    I note that Toyota Dealers do not like this deal and make it hard to get, as they make nothing from Toyota and rather get a kick back from a leasing company.
  • imgdocimgdoc Posts: 30
    Just got another quote for 2WD V6, base, Model Number: 6946C Total retail price $29,430 lease for 36 months, 12K for $355 (includes 7% tax) with only 1st payment due at signing. How does this sound?
  • The deal is done...now I need to hear from the masses on whether I got a decent deal or not. My tactic certainly was against the advice of many in that I did approach this from a monthly payment perspective and I used my trade-in as a down payment. My starting point was from the specials they were advertising for March and April. I traded a 99 Accord with 130K which they gave me $2800 for (more than i thought, even though I am sure they made up for it by not reducing the sale price). I leased the Base Model 4WD Highlander with MSRP of $31420.00. Sale price on contract was 29080. Final all in after taxes and using my old Accord as the only money down, my monthly payment is $342.00/month on a 36/12 Lease. It took a couple days to get to this point after a few stalemates. It was probably their 3rd/4th offer. I did call a couple other dealers to see if they could beat it or match it if they could provide a specific color choice as these were in short supply in my area. Both said they couldn't match the price, so I feel pretty good about it. Any thoughts or better approaches I should take next time? Kinda new to the leasing world. Thanks.
  • r_thorntonr_thornton Posts: 2
    edited May 2010
    I was given a range from different dealers on an SE for $440 a month to $490 a month. I offered nothing down, and I asked for prices to include GAP insurance and Sales Tax (MA 6.25%). After also negotiating on my girlfriend's car, just by growning at the price of $325 a dealer gave us for a CIVIC, he instantly came back with $225.

    With confidence, I offered the Toyota dealer $399 a month for the Highlander, all starting fees, sales tax include and GAP additional. They accepted! I got the SE with addon blue tooth for $415. MSRP was around 35k, I believe the sale price was around $32000 (I don't have the paperwork in front of me).

    Bottom line, totally igonore what they tell you. When you see their number, go crazy...Give them any number you want that is reasonable to you. My girlfriend got 33% marked off her monthly lease payment because I pointed to the dealer's price and grunted. CRAZY!!! What a business.
  • homer426homer426 Posts: 3
    Does anyone know what the money factor and residual values they are using on that lease deal for model #6948 and what the differences are for a 15,000 mile per year lease?
This discussion has been closed.