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Toyota Highlander Lease Questions

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  • Hi, I'm an old car nut, used to buying cash and normally for old beat up cars. 1st kid on way and wife wants a new SUV. Decided to lease a 2012 Highlander SE 4cyl and have been looking for a lease for the first time. Here is the best quote I have gotten, please let me know what you think.

    Credit Score: 790, 500 down, 380/month, 36 months @ 12k miles a year. Any thoughts? When I go in what type of rude awakening should I expect? What other information should I demand before going in or be armed with when I do go in. Thanks for your help and patience.

    -Eddie in Miami
  • Hi Car_Man,
    Looking for Nov. money factor and residual value for 2012 Highlander Limited AWD with 10k miles per year for 36 months. I'm close to making a deal but have no way of knowing if the lease terms are valid.
    Just out of curiosity, is this info available ANYWHERE else online?
    Thanks!
  • Still trying to find out lease info on the 2012 Highlander Limited, 36 months/10k miles per year. My dealer (Long Island, NY) says there is no 10k option on the 2012 Highlander, but that doesn't seem right to me. He's quoting 62% residual and .00100 MF for 12k miles/year. Anyone had similar experiences? Doesn't seem like this board is very active, possibly not monitored? Oh how I wish this info wasn't such a secret, held by a small few! :confuse:
  • am1199am1199 Posts: 10
    Hi Car_Man,

    Can you please post the December residual and money factor for a 36 month, 12K/year lease of the 2012 Highlander SE V6 4WD

    Thanks
  • 2012 4WD base

    Got an offer: (this is what they told me):

    Sticker: 32122
    Sale: 29072 plus TTT (approx 1=K - 3%VA tax)
    MF: 00075
    Res: 61%
    12K/yr
    1st months and taxes up front
    ends up being 335/mo.

    Thoughts?

    Appreciate it!!!
  • lasailorlasailor Posts: 9
    edited January 2012
    Would like the same lease information - 2012 Highlander SE V6 - only with the January 2012 MF and residual.
    Thanks!
  • Yes, I'm also looking for the residual and MF for the 2012 Highlander SE V6. I'm also considering the 2012 Highlander Limited V6. Would the residual and MF on the Limited model be the same as the SE?

    Thanks.
  • Hi,
    Does anybody know the current lease incentives in the NYC area?

    Thanks.
  • I just got off the phone with a dealership and he told me that the current (January) money factor on the SE V6 is 0.00065

    He wouldn't give me the residual over the phone, but I think it's either 61-62%.
  • Does anybody know the correct residual for January 2012? I went to one dealer and he showed me a residual that would equal about 59.5%. That seems low since 2 months ago it was 61%. I think I'm being jacked.

    Also, does anybody know if the residual is always a pre-determined percentage of the MSRP for each model or if adding dealer-installed options changes the percentage? I thought that the residual was pre-determined percentage off sticker no matter what?

    Thanks for the help
  • Hi orangeman99. Toyota Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2012 Highlander 4WD with 15,000 miles per year in its New York region are .00065 and 60%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The problem with these numbers is that unlike most banks, TFS places restrictions upon which options can be residualized. This makes its published residual values look artificially high and it makes it difficult for consumers to work up payments on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for the info Car man.

    I think that's why the residuals they are giving me sre different. Maybe the rates they are quoting are correct.

    BTW- what are the numbers for a 12,000 miles/yr lease?

    Thanks again.
  • kyfdxkyfdx Posts: 29,161
    12K residuals are almost always 2% higher than 15K

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Hi,

    I would like the same information for the Seattle, WA area. I am interested in the residual value for the 2012 Highlander 4WD V6 SE. On $39471, my dealer quoted me a residual of $20,055 with $3,000 down payment. At 51%, that's low compared to what others say they are getting?
  • orangeman99orangeman99 Posts: 37
    edited January 2012
    51% seems way low. The difference between 51% and lets says 60% residual on your car is about 3500. Divide that by 36 and that's about a $100/month higher lease payment.

    I'm sure Car Man will give you accurate numbers soon.
  • orangeman99orangeman99 Posts: 37
    edited January 2012
    Car Man,
    In light of what you said earlier about some options not being residualized, how do you know if the residual the dealer is giving you is correct?

    The Highlander that I'm looking at has an MSRP of about $39,300, and they are telling me that the residual is 22,800. That's about 58%. I'm looking for a 36mo/12k lease, so it should be around 62%. That difference wil mean an extra $40/month.

    How do I know if they are correct?

    THANKS
  • You're very welcome orangeman99. As kyfdx already mentioned, the money factor is the same for a lease with only 12,000 miles per year, but the residual value gets a 2% bump.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi momoffour177. In most of the regions that I have seen Toyota's special lease money factor for the 2012 Highlander in, it was .00065 for consumers who qualify for its top aka "Tier 1+" credit tier.

    As orange mentioned, the residual value for a 36-month, 15,000 mile per year lease of a 2012 Highlander 4WD is 60%...however TFS calculates residual values are different than most other banks. The percentages that it publishes are for base vehicles. It places restrictions upon what options can be residualized. As a result, its functional residual values are actually lower than its published percentages appear. I wouldn't be surprised if the residual value restrictions for options on a truck like the Highlander knocked several points off of the vehicle's effective residual value...perhaps even as much as you are experiencing. Dealers really don't have the ability to alter vehicles' residuals, so what you were quoted is probably correct. The process of calculating vehicles' residual values for leases through TFS is so complicated that it provides dealers with a list of the actual dollar residual values for every unit that they have in stock rather than relying upon them to calculate them on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • That's an excellent question, orange.

    Unlike with money factors which can sometimes be marked-up to add additional hidden, back-end profit to leases dealers don't usually have the ability to alter vehicles' residuals, nor any incentive to do so. So what you are quoted for a residual value on this truck is probably correct.

    The process of calculating vehicles' residual values for leases through TFS is so complicated that it actually provides dealers with a list of the dollar residual values for every unit that they have in stock rather than relying upon them to calculate them on their own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Good info. Thanks Car man, I really appreciate the time you take to help us.
  • Hi car_man,
    Could you please advise on this lease deal? I want to negotiate further if possible. Thanks for your help.

    Toyota HL SE v6 with leather and bluetooth, 36 month 15k , 0 down,

    MSRP $36,823
    Base Cap Cost $34,400
    Acquisition fee $525 (estimated, not sure if I have to pay this)
    Lease Terms and Taxes
    Residual Value $21,979 (59.68xx%)
    Money Factor 0.00065
    APR 1.6%
    Term of Lease 36
    Sales Tax 7.4%

    Monthly Lease Payment $396.60
    Sales Tax on Lease Payment $29.25
    Total Monthly Lease Payment $425.85
  • Car Man,
    Can you post the residual and MF (tier 1+) for Highlander SE V6 4X4 for 36/12k.

    Thanks.
  • Hi
    I have a sheet published by Toyota for SE 4X4 v6 with leather and technology package and the value is 21979 for 36m/12k
  • dima1dima1 Posts: 17
    I am in NYC, and always leased from NY dealers. If I lease the Highlander from NJ dealer, can the dealer build in NY taxes and register it in NY State? Please share your experiences.
    Thank you.
  • ilanailana Posts: 13
    I am from NY and always bought from NJ. They can register the car for you in NY but you will need to come and get the plates. I was never able to transfer my plates always got new plates. But this is due to the old car being leased/financed otherwise they might be able to transfer. The fees are a little higher for the registrations thru NJ dealer then NY dealer. The for sure will take NY taxes as it goes by where the car is registered
  • You're very welcome orangeman99.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hey suberman1. The money factor that you were quoted looks good. The selling price looks reasonable as well. If you like the Highlander, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey orangeman99. Toyota Financial Services' February buy rate lease money factor and residual value for a 36-month lease of a 2012 Highlander SE V6 4WD with 12,000 miles per year in its New York region are .00065 and 62%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    Keep in mind though that TFS places restrictions upon what options can be residualized, so its effective residual value for this truck will likely be lower than its percentages make it appear.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • orangeman99orangeman99 Posts: 37
    edited March 2012
    Hi all,
    I got a quote from a local dealer in NYC. I'm looking at an SE V6 4x4.

    The base MSRP is 36,260 and the Residual is 21,979 (61%).

    After adding some dealer installed options, the MSRP is $39,236, the residual is still 21,979 (56%).

    Is this possible that the residual stays the same? So basically, I'm buying all these options but can only use them for 3 years. WTF?

    Thanks for any insight.

    BTW-The money factor (Tier 1+) for March for 36mo/12k went down to .00040
  • Hi all,
    Have any of you ever calculated your own lease price and matched the dealer's?

    They must add some crazy fees to the selling price to get their numbers.

    I spoke to a dealer today and got a lease payment quote. He gave me the selling price, residual, and MF he used. When I plugged it into the formula, I got $469/mo, but he got $518. He basically said it doesn't matter what the formula is, they go with the "Toyota computers". Their computers must be smoking some good stuff. But funny how each dealrship comes out with different numbers for the exact same car using the same exact "Toyota computers".

    Can somebody check my numbers:
    Sale price 36,644
    Residual 21,979
    Money factor 0.00040
    NYC sales tax 8.875% (rolled into the lease)

    THANKS IN ADVANCE
This discussion has been closed.