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Toyota Highlander Lease Questions
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One dealer offered me a lease of $238 a month for 36 months and 12k miles per year on a 2WD 4 cylinder base, with a MSRP of $25,664. Drive off is about $1k. I wonder how that deal is.
Thank you so much for any help you can provide.
Would you kindly post the current Money Factors and Residuals on the NON-hybrid Highlanders? I am interested in the 4cyl AWD model for 36Month and 12K (or 15K) miles. As soon as you can would be great as I am looking to help my sister and family to get this vehicle in the next couple of days in Massachusetts. THANKS!
4-Dr LTD 4x4 V6 SUV
GY Airbags
HD heated seats
LA Leather seat
TD Tow prack
W JBL Premium CD
CF Mats
MSRP- $35,874
Agreed value $33,486
tax $914
Aq fee= $400
Gross Cap cost= $34,143.41
Cap cost red= $658
Adj cap red= $34,143
15k/yr, 36 mon
Residual value $19,410
monthy payment $428
Can you tell me if this is a good deal and maybe some analysis? I don't know the money factor and the residual %.
Also can you send me that spreadsheet to xrunner123@comcast.net
Thank so much
Thanks
MSRP 33,912
Z1- Preferred Accessory
Sale price: 29,950
Acq/Bank Fee: 400
Total Drive off: $1,500, includes DMV fees, tax, 1st payment and $750 cap reduction.
36 month, 12,000 per year
$325.XX + $25.XX tax =$350.XX
Residual: 56.5%
Money Factor: .00075
How does this lease sound?
Most people do not lease for 5 years. The conventioanl wisdom is to lease for the length of the bumper to bumper warranty (for example, 3 yr 36k miles for Toyota). You may consider financing it if you are planning to keep it that long. You would have paid most of the depreciation for Toyota in those 5 years, since they own the car during a lease. In financing, you may end up making larger payments in those 5 years, but after 5 years, the car will be paid off. In a lease, after 5 years, you may still owe about 45-50% of the original value.
This is only an example for illustration purposes to show the diff bet a 3 year and 5 year lease, with the special money factor on the 3 year. MSRP of $39,351 and a cap cost of $36,000. On a 3 year lease w/ residual at 57% and MF at .00075, the payment is about $400/mo plus tax. On a 5 year lease with residual at 34% and MF at .00245, payment is about $500 a month.
I believe on the Hybrid there is a special 3.9% financing for 5 years.
Here is the formular for calculation 36 months lease in California where tax is added to each month of payment (for my city, it is 8.5%)
Monthly payment = (rent + depreciation)*(1+tax rate)
Depreciation = (cap - residual)/36
rent = (cap + residual)*MF
MF - money factor. look like it is 0.00075 for Highlander Hybride which translated to 1.8%
Cap is the negotiated price for the vehicle+ all the misc. charge (document fee, license etc.) if it is not paid upfront.
For 664, you should be able to get a lexus RX350 instead.
Thanks In Advance, Bill G
2017 Accord Sport CVT Mod Steel Metallic
Do you know if the program has changed for July?
Massachusetts
3 Year
15K/year
Thanks!
3yr / 15K per year
MSRP is $25824
Dealer says invoice is $23,300 - Edmunds says $22954
Dealer says residual is $13592
Dealer says money factor is .00085 (another says .00075)
What are the programs that you know of and money factors, residuals, etc?
Thanks in advance!
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I would be happy to give you an idea of what this truck's current lease program is like if you tell me what state you are in. This is important because Toyota's lease program often varies depending upon which one of its twelve regions one is in.
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Thinking of a short term (3 yrs top) lease on a 4WD Highlander Hybrid (not LTD) from any NJ or NY dealership-- I am a Tier 1+ credit tier customer.
What should be aiming for? Any incentives in NY/NJ area? IF the incentives are better in another region and I travel to that region am I eligible for those incentives -- or are the incentives limited to the residency of the leasee? Many thanks.
Selling Price: 38,939
Money Factor: .00075
Residual: 21,240
36 month lease, 12k miles.
GAP not included
0 down
Drive off 916.15
Monthly Payments including tax 593.40.
Does this look like a good deal? If not what should be changed to make this a better deal?
Thanks in advance.
After running the numbers, I decided not to take it. Edmunds said Buy. My heart said Buy. Last night, I laid awake thinking about what it would have cost me to acquire the vehicle at the end as we normally keep our cars a very long time.
Funny thing: the bus mgr sounded so disappointed when we called to say we'd buy. Then I knew there must be more in it for the dealer than for me. BTW, who gets the rebate? Then I realized I'd probably been set up. We had called to say we were coming in; the mgr we were to see wasn't around. We announced ourselves and another salesman wandered over and started to chat us up about leasing and how with the low pymts we better invest our money. Then the mgr came by, greeted and turned us over to this same salesman. Maybe I'm paranoid, but...
Any idea what the best lease rates are for the NJ area? I am a Tier I credit individual.
Looking for 36 months, no money down, GAP included, prefer 15,000 miles a year.
This forums gives alot of information. Thank you.
I am planning to buy a HH 2wd or 4x4 and here's my problem
I have a 2004 Honda Civic 4dr and i was thinking of Trade-in for HH. Please advise and how much can i expect the Capital cost after Trade-in.
Any good New York Toyota dealer if someone can recommend.
Thanks
Arun
Please help before we commit...TFS approved us to assume a Hybrid lease, car is in Michigan and we are in NJ. My apologies for this long email.
Since we assume the exact Lease as original lease-holder, please tell me if the Lease was a good deal? :confuse:
CAR: 2006 LTD 4wd-i V6 (model 6966A)
NAV, Running Board, carpet/cargp, 50 state emission, leather, etc. Current miles: 7,200 since 8/27/05.
DEAL: The info below is from the 3 yr. & 12k mileage Lease Agreement:
MSRP $39,290 ($40,114 w/ Running boards & carpet/cargo mat set)
$2000 in down payment (cap cost $1075 + 1st monthly payment $657 + title fee $15 + license fee $8 + tax on cat cost reduction $64.52 + doc fee/tax $180.20)
Gross cap cost: $42,951
Agreed upon value of car: $42,551
Cap cost reduction: $1075.28
Adjusted Cap Cost: $41,875.72
Residual value: $25,639
Decreciation: $16,236.72
Rent charge:$8976.41
Monthly payment: $657 (including $37.99 Michigan tax) GAP NOT INCLUDED.
If we assume the payments on 9/2006- our total 24 month payments from 9/06 to 9/08 would be $14,880. ($620 x 24)
Many, many thanks. linda and paul
Thanks again.
We are in northern NJ interested in the same type deal and also have Tier1 credit.
Any leads in NJ for best lease rates? Any value in approaching a NJ dealership with 2 leases?
just thinking.... linda
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There's nothing wrong with trading in your current car when leasing a new one, however you would be better off having the dealer that you are working with cut you a check for your trade than using the proceeds from it as a capitalized cost reduction for your lease. I always advise community members against making large down payments on leased vehicles because if your leased car or truck is totaled in an accident or stolen and never recovered, your down payment essentially disappears.
As far as the capitalized cost off the Highlander that you are considering leasing goes, you should be able to get an idea of how much you will have to pay for it by visiting the following discussion: "Toyota Highlander: Prices Paid & Buying Experience".
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Just for me to be clear on your answer..there are no financing deals (money factor, cash incentives, etc) on Hybrids?
Thanks for the information and the links.
I tried the Market value and i got - $11,130/
Since i still have loan on my car around $13,000/- I will have negative equity after Trade-in Value and I was wondering if i can pay the diff as a down payment?
The dealer is telling me that for every $1,000 i put in the interest rate goes down by .25% is that possible?
and they r having a sale with $389/month of for 36 months.
I am getting this from Sunrise Toyota in Long Island,NY.
Please let me know if someone has any experience with this dealer?
Do you think its worth going for it?
Thanks
Arun
Am I in the ballpark or should I continue looking?
Appreciate your opinions.