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Toyota Highlander Lease Questions

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Comments

  • 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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  • Greetings acacia379. Toyota is not currently providing any lease support on the new 2008 Highlander. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. I haven't seen its standard lease money factor for your specific area recently, but I suspect that it is currently around .00250 to .00275 for consumers who qualify for its Tier 1+ credit tier. TFS' current 36 month, 15,000 mile per year residual value for an '08 Highlander Limited AWD is 58%. Keep in mind though that TFS only publishes residual value percentages for base vehicles. It places restrictions upon which options can be residualized, making it difficult to calculate actual dollar residual values for specific vehicles.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hello jim53. Toyota is not currently providing any lease support on the new 2008 Highlander. As a result, if you were to lease one through Toyota Financial Services, you would have to use its standard lease program. I haven't seen its standard lease money factor for your specific area recently, but I suspect that it is currently around .00250 to .00275 for consumers who qualify for its Tier 1+ credit tier. TFS' current 36 month, 12,000 mile per year residual value for an '08 Highlander Sport AWD is 60%. Keep in mind though that TFS only publishes residual value percentages for base vehicles. It places restrictions upon which options can be residualized, making it difficult to calculate actual dollar residual values for specific vehicles.

    Sixty months is way too long to lease any vehicle for. Not only will your truck's basic warranty have expires by the end of your lease, forcing you to pay to fix any non-powertrain problems that your vehicle has out of your own pocket or possibly have to pay an excess wear and tear penalty, but a lot can happen over the course of five years. Your commute for work could change causing you to go way over your mileage limit or waste miles that you have paid for, gas prices could skyrocket causing you to want a more fuel efficient vehicle, you could just plain become board with your vehicle, etc. I always advise consumers to stick to 36 to 39 month leases, 48 months at the longest.

    Car_man
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  • I just got a money factor of 2.14 on a 48 month lease, 42% residual on a 2008 Highlinder--I don't have a good frame of referrence, can you help? Thanks

    Regards, dessland13
  • svofan2svofan2 Posts: 440
    any news on lease numbers in the Northeast?....residual,money factors etc?....any news on Toyota providing any subsidies for the Highlanders?..
    Thanks anyone..
  • I am planning to lease a 08 HL Limited with Nav and DVD. Can someone help me out. Prices are all over the place.

    Anyone from Iowa who got a good deal? One dealer asked for $5000 down (included tax,title, etc) with $590/M. It was Limited, DVD, Nav, Moon Roof, i.e. fully loaded. I backed off as it appeared too high to me.

    As there is no lease offers on 08 from Toyota, what is the best way to calculate the right price?

    Thanx.
  • lolyloly Posts: 1
    I am in a similar situation of suvgal, in 2006 got into a 5 yr (ludicrist now I realize) lease for a 4cyl Hylander, payments are $425, it has 20,000 miles on it, and we did buy the 14,000 mile per year option just in case, now we realize the mistake we made and would like to get rid of this lease but don't know how to do it or if it would be a crazy thing to do, first I did check with the bank and the pay off figure is $25,136., also checked the value here in the edmond website and is aprx $18,000, don't know what to do, don't want this car any longer, and do feel we were taken by this dealership. Not a very happy camper AT ALL !!! :mad: :sick: :cry:
  • alkricalkric Posts: 9
    I want to lease HL 2008 Limited. The price for Limited is $34.100. The question is why should I buy additionally package a ($3000) or package B ($6000)? Why Toyota can’t lease HL 2008 Limited for 34.100?

    Thanks
  • Hi dessland13. So you mean a money factor of .00214? If so, that is a very attractive rate. It is lower than any of the money factors that I have seen mentioned for the 2008 Highlander lately.

    Car_man
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  • Hello svofan2. Are you in the New York area? If so, you're in luck because Toyota is providing lease support on the 2008 Highlander in your area. Its current buy rate special lease money factor there for consumers who qualify for its top credit tier is .00259.

    Car_man
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  • Hello iowabuyer. $590 per month with $5,000 is crazy for a 2008 Toyota Highlander. Sure the redesigned version is a nice truck, but we're not talking about a BMW, Mercedes-Benz, or a Lexus here. Yikes.

    The best way to get a good deal on the Highlander that you are interested in is to negotiate as low a selling price as possible and then have the dealer that gives you that price calculate your monthly payment using its buy rate lease money factor. Try stopping by the .eea7277 discussion to see how much other community members have paid for similar trucks, price-wise.

    After you arrive at a selling price that you are comfortable with, have the dealer calculate your monthly payment using Toyota Financial Services' buy rate lease money factor. Its lease program varies by region, but I do not believe that Toyota is currently providing any lease support on the '08 Highlander in your neck of the woods. If this is the case and you were to lease one through TFS, you would have to use its standard lease program. Its buy rate standard lease money factor is probably around .00285 or so for consumers who qualify for its top credit tier.

    Car_man
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