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Toyota Highlander Lease Questions

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  • I went out car shopping this weekend (Labor Day) and found a 2006 HYBRID Toyota Highlander Limited w/Leather at Hamer Toyota in Mission Hills, CA that they were going to lease to me for 3 years, 15k miles per year, $3000.00 down and a monthly payment of $469.00 per month
    which included tax & licensing. Is there a better leasing deal than
    that out there? Is it possible to get a navigation system included
    for that price or even less? If you have any thoughts about this
    please respond to this post. Thank you.image
  • I'm looking to lease a 4x4 highlander in NY for no more than $300.00 a month. I prefer to lease for 36 months, but would lease for 48 months if I could get the deal I want. I can only put down $1000.00. I have excellent credit. Is this something that seems even possible? I went to dealership near me and was quoted around $470.00 a month. That seems crazy to me. I feel like I should be leasing a mercedes for that price. Any help would be appreciated. Thanks!
    Desperate for a highlander
  • billmvbillmv Posts: 146
    How did you arrive at $300 per month max?
  • brenjcbrenjc Posts: 2
    Hi, new to site..but need major help..I want to lease a toyota Highlander hybrid limited model...what should I be looking for in terms and price...I would like to go into the dealer some idea....I haven't leased in many years...MF???...I am in the new england area...
  • Anyone have an idea of residual values on 36 month/12k miles on 06 limited highlander (no nav or dvd)? Money factor?
  • Hello Carman,

    Trying to help my father-in-law with a lease ('06 leftover).

    Here is what I know: $32,960 MSRP, $27,130 Selling Price

    The dealer told him the payemnt will be around $350/mo for 36 months, 12000 miles, & $0 down. Nothing in writing.

    What is the residual & money factor for this car? How can I find out so that he can use a lease calculator.
  • Can anyone tell me the latest residual and available money factor for the Highlander hybrid for 36 months?

    Thanks!
  • Hi djkcpa. A lease of a Toyota Highlander counts as a sale for dealers, just as if you had financed or leased one. You should be able to negotiate the same selling price for a Highlander that you want to lease as you would be able to negotiate on one that you were paying cash for or financing, with one exception. This exception is that Toyota's customer cash incentives are not compatible with its special lease program.

    Car_man
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  • Hello ejdago. Toyota's special lease money factor on the 2007 Highlander often varies by region, but in all of the areas that I have seen its lease program for this month its buy rate special lease money factor for this truck is .00175 for all models, regular and hybrid.

    Car_man
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  • Welcome brenjc. Toyota Financial Services' special lease money factor in your area, its Boston region, for the 2007 Highlander Hybrid is .00175 for consumers who qualify for its Tier 1+ credit tier. You should be able to get an idea of how much you should pay for this truck right now by visiting the following discussion: "Toyota Highlander: Prices Paid & Buying Experience". Let me know if you have any other questions.

    Car_man
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  • Hi izzydog. Toyota is no longer providing lease support on the 2006 Highlander. It does have a special lease program on the 2007 model though. If you really want to lease, you probably will be better off leasing an '07. Toyota Financial Services' money factors vary by region, but in most areas its special buy rate lease money factor for the '07 Highlander is .00175. TFS' 36 month, 12,000 mile per year residual value for the 2007 Highlander Limited 4WD is 58%. this is only the residual value for a base model though. TFS places restrictions on what options can be residualized and caps on the values of the ones that it does allow. This makes calculating lease payments on leases through TFS very difficult unless you are a dealer. Dealers are given lists of the actual dollar residual values for the vehicles that they have in inventory.

    Car_man
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  • Hello blackexv6. Toyota's lease program varies depending upon which one of its twelve regions one is in. As long as you are not in Toyota's Southeast region, and I don't believe that you are, Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Toyota Highlander 4WD with 12,000 miles per year are .00175 and 60%, respectively. Normally, one could plug a bank's money factor and residual value into a lease calculator, along with a vehicle's MSRP and selling price, and figure out what its monthly payment should be. Unfortunately, it is not that easy to calculate leases through TFS. It places restrictions upon which options can be residualized and caps on the prices of ones that it allows. Calculating the residual values of Toyota models is so complicated that TFS actually provides dealers with a list of the dollar residual values for vehicles that they have in inventory. So these are the numbers, but they won't help you much in your calculations.

    Car_man
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  • Greetings automophile. Toyota's lease program varies depending upon which one of Toyota's twelve regions one is in. Having said this, the 2007 Highlander Hybrid's lease program seems to be fairly consistent outside of the Southeast region right now. As long as you aren't in the Southeastern U.S., this is what this truck's lease program should look like. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Toyota Highlander Hybrid 4WD (not the Limited model) with 15,000 miles peer year are .00175 and 57%, respectively. Unfortunately, TFS calculates vehicles' residual values differently than other banks do, making it difficult to estimate what their monthly payments are. The residual value percentages that it publishes are for "base" models without any options. It places restrictions upon which options can be residualized and caps on the ones that it allows. Calculating the actual residual values for Toyota vehicles is so complicated that TFS actually provides dealers with a list of the actual dollar residual values for every vehicle that they have in inventory rather than having them calculate residuals themselves. So those are the numbers, but unfortunately, they won't help you estimate what this truck's payment should be.

    Car_man
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  • mehrishismehrishis Posts: 13
    does any body can tell me what is the best price to lease toyota highlander? I live in long island NY.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mehrishis. When you ask what the best price is for this truck in your area, I suspect that you are talking about its monthly payment. This truck's lease payment will vary depending upon what trim level you get, how long you lease it for, what mileage allowance you need, and how low a price you are able to negotiate on it. In its New York region right now, Toyota is advertising a lease payment of $289 per month for 36 months with $1,999 due at lease signing for an '07 Highlander 4WD with 12,000 miles per year. If you are interested in a similar truck, there is a good chance that you will be able to negotiate a lower selling price than the one that this lease is based upon. If so you will be able to beat this payment by a few dollars per month.

    Car_man
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  • tmodestotmodesto Posts: 3
    Hi Carman:

    I want to lease a basic Highlander, I just wonder what is current TFS leas programs (36 m/12K/year/ California) and if I should wait 2-3 months till new models coming and price of '07 going down?

    Thanks,
    Tom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tom. Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2007 Toyota Highlander 2WD with 12,000 miles per year in Southern California are .00175 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier. Unfortunately it is difficult to use TFS' lease program to estimate vehicles' monthly payments because the residual values that it publishes are for base vehicles. It places restrictions upon which options can be residualized.

    I personally don't think that you have much to gain by waiting a month or two to lease your Highlander. Toyota's special lease program on it hasn't changed in a while and I do not personally anticipate it being enhanced in the next month or two. Plus in a competitive market like California one can probably get an '07 Highlander for pretty close to dealer invoice already. As a disclaimer, it is difficult to predict exactly what manufacturers will do with their future incentive programs with 100% accuracy ;).

    Car_man
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  • Greetings:

    I recently entertained the idea of purchasing a 2007 Toyota Camry Hybrid (can't beat those mpgs!) but realized between carrying around all my work gear, the trips to Costco and the weekend camping trips for Scouting that the 10 cu. ft of trunk space wouldn't do it! I would like to lease the 2007 THH Limited w/3rd including leather, navigation, moonroof for 24-36 months since the new THH version is due Fall 2007 (I'll let them work out the bugs!). What I would like to know is how is Toyota Financial Services for a leasing company (I've only dealt with BMWFS) and should I immediately disclose that I'll be leasing or should I negotiate for the lowest price first and then tell them I'll be leasing? I know that the invoice w/options is $33,835 and the MSRP is $37,795. I also know that these prices include a 3% markup due to Holdback (2%) and Wholesale financial reserve (1%). My taxable rate is 6.75% Kendall County (IL) Would it be in my best interest to lease with the intent of turning it in for the newer model or to purchase and hopefully trade-in or sell in 2-3 yrs. My credit score is excellent and my financing options are 4.5-5.6% APR. I see that I could also be eligible for 1.9% or $1500 rebate cash to customer. Have you heard of James Bragg and fightingchance.com ? :surprise: Can you give me a breakdown of the lease (money factor, etc.). Thank you for your attention to this matter. I look forward to your reply.
    :surprise:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Natl. Toyota Financial Services is a good bank to lease through. I haven't seen any consumers complain about working with them. The only problem with TFS is the way that it calculates vehicles' lease payments. It is difficult to estimate how much a vehicle should cost to lease through TFS because the residual value percentages that it publishes are for base vehicles. It places restrictions upon which options can be residualized. The way that it calculates vehicles' residual values is so confusing that it provides dealers with actual dollar residual values for every vehicle that they have in stock.

    There's nothing wrong with telling the dealer that you are working with that you want to lease your new Highlander, jut make sure that you negotiate the lowest possible selling price on it rather than letting the dealer try to get you to focus on just the payment.

    Toyota Financial Services' lease program varies by region. I have not seen its specific program for its Chicago region recently, but in most areas its buy rate lease money factor for the 2007 Highlander Hybrid is .00175 for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • Hello Car_Man

    Could you please provide current lease programs in New England for Limited 4WD, loaded including navigation. MSRP is 42k and change. 48 month lease, 12k/year (my father in law insists on 48 month lease even though I have advised him against a lease that long). Dealer quoted $34,500 for purchase but the lease payments they are quoting are rediculous; $500-$600/month. Are residuals for 48 months that low?

    Thanks a million.
  • roho1roho1 Posts: 317
    I recently shopped for a 07 HL at my local dealer. Drove one and discussed financing with the salesman. There supposedly was a lease special on 07 HL for 299/m thru the week. I went back on friday and signed the papers and left a deposit. I had a delvery date of this Monday, 6/11 all set up.

    On Saturday my salesman calls me up and says the GM of the dealer caught my sale and says I can't have the HL for the agreed on deal. He says the lease rates changed and I need to agree with $20/m more. Needless to say I'm upset. I have never had a dealer once a signed agreemnent was made back out of a deal.

    I expressed my disgust and the salesman said he would look into it again and call me back. I never heard back from him again.

    any comments on this out there?
  • bayoutxbayoutx Posts: 4
    07 Highland

    Green

    Packages:
    EJ, FE, NE, PE, RL, VP, CF and two after factory add-ons that listed for a total of $715 on the sticker.

    MSRP 29909
    Invoice 27043

    Price 27500 Buy or Lease

    Lease Terms:

    Money Factor .00185
    Residual: 49% ( I found out the Highland has the lowest residual of all Toyota's SUV Line. I was hoping for at least 55%).
    No Cap. Cost Reduction

    Lease Monthly Cost: $434.86

    Did not take offer. Felt I could have gotten a Pilot with more features (leather and such) for a better price. I was looking for a great deal on the last 07 Highlander on the lot, 31st of the month, end of model year and a very wet day in Louisiana.

    Might kick myself in the morning. I was really surprise at the 49% residual factor.
  • bayoutxbayoutx Posts: 4
    Reply to myself.

    Aug 1. Looked at another Highlander minus the sunroof and upgraded CD player.

    Residual dropped to 47.5%.

    Went with the Honda Pilot.
  • bodidbodid Posts: 87
    08' Highlander in both Limited and Sport editions out of NY.

    36 mo. / 15K miles

    Thanks,
    Bo.
  • bodidbodid Posts: 87
    Anyone getting money factors and residuals for Highlander Limited 4x4 for 36/15K? I got a mf of .00245 and 50% residuals as of today from an NJ dealer. I got a decent deal on a 08' Highlander limited 4x4. MSRP 42,319. Sell price of 38,500. I think I can get it down to 38K without too much trouble.

    Bo.
  • I'm in Greensboro NC, about 20 minutes from the VA border. I understand that NC is in Southeast Toyota territory. Will I be better off leasing from a dealership just over the border (say, Danville) than one of my local guys? What's a lease on a $33-$34k Highlander going for these days, on a monthly basis?
  • Just starting the process...any help would be appreciated. Looking at a 15,000 36 month lease. Two dealers close to home but I dont mind a 50+ mile range to shop.

    No NAV or Entertainment package....where should I be with a value on this vehicle? Silver Metallic...also what MF and residual should I use.

    Thanks,
  • jim53jim53 Posts: 109
    what is the money factory and residual % for a 2008 Highlander Sport assuming 12K miles per year for both a 36 (or 39 month if available) and 60 month lease.
  • Hey Bo. Toyota is not providing lease support on the new 2008 Highlander. That means if you want to lease one through Toyota Financial Services, you will have to use its standard lease program. I haven't seen its standard money factor for your area lately, but I suspect that its buy rate for Tier 1+ customers is probably around .00275.

    TFS' current buy 36 month, 15,000 mile per year residual value for the 2008 Highlander Limited or Sport 4WD is 58%. Keep in mind though that unlike most banks, Toyota only publishes residual values for base vehicles. It places restrictions upon what options can be residualized. This makes calculating actual dollar residual values for Toyota models difficult, so much so that it provides its dealers with actual dollar residual values for the vehicles that they have in stock rather than having them use the residual percentages to calculate them.

    Car_man
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  • Hi ratbastid. I am not a big fan of Southeast Toyota. They tend to add unnecessary packages to vehicles to pad their prices. I personally would rather purchase from a dealer outside the Southeast region if possible, however I do not know if you are allowed to do so. Most dealers use the state of residency as the basis to determine the regional incentives that consumers qualify for. Toyota is a little different in that SE Toyota is an independent distributor so you might be able to get away with purchasing out of your region. Unfortunately, I don't know how this works. Try e-mailing a dealer or two outside of your area and ask them how it works. I'd love to know what you find out if you wouldn't mind stopping back and sharing with us.

    Car_man
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