2015 Toyota Highlander Lease Questions

abethegeek

Michaell said:

abethegeek said:

A couple of points to note:

Leasing in Texas is expensive; sales tax is assessed against the entire selling price of the car, which makes the payments higher than in other states.

Your credit may be affecting your payment; the base MF on the Highlander was .00170 last month. If the dealer is marking that up, the rent charge can be quite high.

Yes, reach out to a different dealer (or two, or three).

I knew about the sales tax and that rolling it in would make for a higher payment. Is there any way to determine the correct MF with my score (500, cosigner 809) taken into consideration? Do you think that range was high? Thanks!

abethegeek

Also, does my credit really cause me to lose out on tier1+? or are they just making that up?

kyfdx

abethegeek said:

Also, does my credit really cause me to lose out on tier1+? or are they just making that up?

Yes.. credit tier is all about your credit.. low score equals low tier.

abethegeek

kyfdx said:

abethegeek said:

Also, does my credit really cause me to lose out on tier1+? or are they just making that up?

Yes.. credit tier is all about your credit.. low score equals low tier.

I'm sorry, of course I understand about the tiers, but my cosigner score is 809. Does that not qualify the deal for tier1+? And if it doesn't what kind of bump in MF can I expect? I am just trying to negotiate as best I can.

kyfdx

abethegeek said:

kyfdx said:

abethegeek said:

Also, does my credit really cause me to lose out on tier1+? or are they just making that up?

Yes.. credit tier is all about your credit.. low score equals low tier.

I'm sorry, of course I understand about the tiers, but my cosigner score is 809. Does that not qualify the deal for tier1+? And if it doesn't what kind of bump in MF can I expect? I am just trying to negotiate as best I can.

I'm just guessing, but I would assume your credit gets you the low tier... but, without the co-signer, you wouldn't qualify for the lease, at all.

saratogasteve

it's almost as if a car dealer has 3 separate cost department. Car sales, Car service and then there's the finance department which will try to prey on people with good or bad credit and make a quick buck on what ever points they can stick you with despite your credit rating. Then there's the after market products they try to sell while doing the paper work. When I purchased my Highlander last month it was all about how expensive is to fix the electronics in the vehicle, while dealing with the finance guy, and how I should purchase the extended warranty. Or the maintenance plan for $1,700 that would have all maintenance covered up to 90,000 miles. They actually told me I'll spend $4,000 between now and the 90,000 mile level and for $1,700 up front it's all covered. It was full of so much fine print and false hoods it just insulted my intelligence. When I arrived at the dealership I had been pre-approved for a 1.49% auto loan through my local credit union. They couldn't even touch that. I really wanted to just put my feet up on his desk, chew on a cigar and tell him to chop chop - I want to get on the road! It's buyer beware and you need to be prepared to face all three cost centers who are trying to reach as far into your pockets as possible.

mgoldstein

Can I do better???

2015 Toyota Highlander Limited
$42,760 msrp
$39,900 sales price
0.0019 money factor
$27,008 (63%) residual 36 months, 36k miles

Michaell

mgoldstein said:

Can I do better???

2015 Toyota Highlander Limited
$42,760 msrp
$39,900 sales price
0.0019 money factor
$27,008 (63%) residual 36 months, 36k miles

I believe the base MF for the Highlander is .00170 .. that will save you a few bucks a month.

unbrokenpete

Would someone be so kind as to let me know the current MF and if there are any promo's or cash back or anything like that for a 2015 Highlander Limited? Also would like residual. Thank you.

Michaell

unbrokenpete said:

Would someone be so kind as to let me know the current MF and if there are any promo's or cash back or anything like that for a 2015 Highlander Limited? Also would like residual. Thank you.

.00170 MF. Residual based on lease term and miles per year - what are you looking for?

burr23

Looking for MF and residual rate on 2015 Toyota Highlander AWD V6 Limited and Limited Platinum. 36/10K only.
MF seems to be .00170 but wanted to double check.

Michaell

burr23 said:

Looking for MF and residual rate on 2015 Toyota Highlander AWD V6 Limited and Limited Platinum. 36/10K only.
MF seems to be .00170 but wanted to double check.

MF is .00170.

AWD Limited 36/10 - 66%. Subtract 2% for Limited Platinum.

saz1

Hi sharing my 2015 FWD LE V6 Highlander experience in Houston, TX based on my 750 credit score. 

Monthly payment of $418.21 for 36 months lease and 12k miles/yr 

Amount paid at signing $2k down + first payment of $418.21

Itemization of gross cap ($34186.25)
Agreed value $31300
MV sales / use tax reimbursement $1956.25
TTL fees $126
Acquisition fee $650
Doc $154

Purchase option at lease end $21060.

Let me know your thoughts!

 Thanks

saz1

Just looked at the paper work and the above model is actually called LE plus due to the V6 engine. 

kyfdx

saz1 said:

Just looked at the paper work and the above model is actually called LE plus due to the V6 engine. 

Congrats on the new Highlander!

Kirstie_H

If you traded in a hybrid for an SUV, a reporter would like to talk with you. Please email PR@edmunds.com no later than Friday, April 24, 2015 and be sure to include your daytime contact info and a few words about your experience with your vehicles.

titaniumtim

I just got quoted this for a 2015 Highlander Limited AWD: Nautical Blue/Almond

36mo/12k

MSRP: 42,660
Sell Price: 40,459
Residual (63.1%): 26,921
MF: 00114 (This is the lowest I've seen on the forum, is this correct?)

$800 due at signing (1st mo, docs, plate)
$503/mo after taxes and everything.

I'm asking about get that sell price lower, but the MF I was surprised at, also, is the residual value too low? I thought these are pretty much non-negotiable as Toyota makes them a firm fixed factor.

Please let me know your thoughts.

Michaell

titaniumtim said:

I just got quoted this for a 2015 Highlander Limited AWD: Nautical Blue/Almond

36mo/12k

MSRP: 42,660
Sell Price: 40,459
Residual (63.1%): 26,921
MF: 00114 (This is the lowest I've seen on the forum, is this correct?)

$800 due at signing (1st mo, docs, plate)
$503/mo after taxes and everything.

I'm asking about get that sell price lower, but the MF I was surprised at, also, is the residual value too low? I thought these are pretty much non-negotiable as Toyota makes them a firm fixed factor.

Please let me know your thoughts.

The base residual is 65% for 36/12 - Toyota doesn't residualize their options like other manufacturers do, so the 63.1% would be about right.

Can't explain why your MF is so low, but Toyota does occasionally run regional promotions that we don't know about.

Toyotas are tough to lease due to these factors, but it looks like you've got a good deal in front of you.

mgoldstein

Should I wait until May 2015 on a new Highlander Ltd Lease? Any chance we will see better money factors or any cashback incentives?

mgoldstein

titaniumtim said:

I just got quoted this for a 2015 Highlander Limited AWD: Nautical Blue/Almond

36mo/12k

MSRP: 42,660
Sell Price: 40,459
Residual (63.1%): 26,921
MF: 00114 (This is the lowest I've seen on the forum, is this correct?)

$800 due at signing (1st mo, docs, plate)
$503/mo after taxes and everything.

I'm asking about get that sell price lower, but the MF I was surprised at, also, is the residual value too low? I thought these are pretty much non-negotiable as Toyota makes them a firm fixed factor.

Please let me know your thoughts.

Where are you getting this deal? The money factor is great. Residual is about what I got. There may be a few hundred dollars you can squeeze on the sales price, but why bother with that money factor. Ask them to throw in wheel locks or some other accessory. Those things, when not in the sticker's MSRP, don't cost the dealership much.

Michaell

mgoldstein said:

Should I wait until May 2015 on a new Highlander Ltd Lease? Any chance we will see better money factors or any cashback incentives?

Our crystal ball is cloudy regarding the numbers for next month. Haven't seen much movement on the highlander numbers however. 

heywood1

Just leased a 2015 XLE AWD in Pittsburgh area
MSRP $39,060
Options: CF (Mats)

Lease Terms: 36 month/45,000 miles

Gross Cap Cost: $37,089 (includes $650 Acquisition Fee)
Down Payment $1,730 (equity from previous 2012 Highlander lease)
Adjusted Cap Cost: $35,359
Residual: $25,047
Money Factor: .00180
Payment: $430.74
(No gap insurance included; I get this from my auto insurance carrier).

Again, this lease is for 15K annual mileage.

Exact color combo I wanted (Jade/Ash), and it was in stock 20 miles from my home.
Entire dealer visit took 2 hours total of my time.
Probably could have shaved off another $500, but I wanted to get this done.
Overall, I am very satisfied with this deal.

sodakmom

I currently lease a 2012 Toyota Highlander base model. My lease is up in Sept. And I am looking for some advice. I stopped in to my local dealer and they have been trying to get me to lease a new one. I love the options, but want to make sure I am getting a good deal before I commit. These are the latest numbers on a 2015 Highlander XLE:

MRSP: 39065.00
Sale: 36500.00
Trade in allowance: 21000
Trade Equity: 854.96
Acquisition: 650.00
Adj Cap: 36295.04
Miles : 12000
Residual: 18,596.00
Lease Terms: 60 months
Est. Lease Payment: $399.78
MF: .0017

I should also mention that I am way over my mileage (currently at 57,000 miles)

One concern that I have is that a previous offer they gave me was a higher sale price, but $1000 more for my trade. I tried to question why my trade was worth more at the higher sale price but I didn't get a good answer. Is this typical?

Also, would you take terms for that long . I know in the long run I will pay more, but my current payment is 350 and I don't want to go too much higher than that. I do realize that I am getting so much more of a car though.

Yay or nay?

kyfdx

sodakmom said:

I currently lease a 2012 Toyota Highlander base model. My lease is up in Sept. And I am looking for some advice. I stopped in to my local dealer and they have been trying to get me to lease a new one. I love the options, but want to make sure I am getting a good deal before I commit. These are the latest numbers on a 2015 Highlander XLE:

MRSP: 39065.00
Sale: 36500.00
Trade in allowance: 21000
Trade Equity: 854.96
Acquisition: 650.00
Adj Cap: 36295.04
Miles : 12000
Residual: 18,596.00
Lease Terms: 60 months
Est. Lease Payment: $399.78
MF: .0017

I should also mention that I am way over my mileage (currently at 57,000 miles)

One concern that I have is that a previous offer they gave me was a higher sale price, but $1000 more for my trade. I tried to question why my trade was worth more at the higher sale price but I didn't get a good answer. Is this typical?

Also, would you take terms for that long . I know in the long run I will pay more, but my current payment is 350 and I don't want to go too much higher than that. I do realize that I am getting so much more of a car though.

Yay or nay?

I would never lease for 60 months..

sodakmom

kyfdx said:

I would never lease for 60 months..

I know it is very long, but the payment is about where I would prefer. Why would you avoid 60 month terms?

kyfdx

sodakmom said:

kyfdx said:

I would never lease for 60 months..

I know it is very long, but the payment is about where I would prefer. Why would you avoid 60 month terms?

For the same reason I wouldn't buy a car with an 84 month loan, just to get the payment down where I can afford it. It tells me I'm buying a car that is too expensive for my budget.

When you lease a car for 36 months, you are under warranty and your costs are fixed, more or less. You only have to see three years ahead to estimate your driving/vehicle needs. The longer you extend that time period, the more chance that things in your life will change and that lease contract may no longer be appropriate.

metahi

Looking for MF and Residual for LTD Platinum AWD in Massachusetts. - thanks!

Michaell

metahi said:

Looking for MF and Residual for LTD Platinum AWD in Massachusetts. - thanks!

.00170 and 61% for 36/15

saratogasteve

sodakmom said:

kyfdx said:

I would never lease for 60 months..

I know it is very long, but the payment is about where I would prefer. Why would you avoid 60 month terms?


At the existing money factor for a 5 year lease and you still have a residual of $19,000? you're paying too much for the car imo. Consider selling your car on your own - you could list it on CL just to see how much action you get - I'm guessing the dealer eats up a couple thousand of your equity just for the convienence of selling the car back to them.

metahi

XLE AWD MF and Residual % in MA - thanks agin!

Michaell

metahi said:

XLE AWD MF and Residual % in MA - thanks agin!

What lease term?

MF is .00170 for the Highlander.

metahi

36 months 12k

metahi

sorry should just ask for all at the same time - residual for XLE, Limited and Limited Plat

Michaell

metahi said:

sorry should just ask for all at the same time - residual for XLE, Limited and Limited Plat

metahi said:

36 months 12k

I'll assume AWD since you are in MA ...

XLE - 68%

Limited - 65%

Limited Platinum - 63%

metahi

so I am being told by the dealership that residual on the Platinum is 61% and MF "money factors go Tier 1+ for personal loans is .00180, for business it is .00190. That is with a personal score of 720+ and on a business side with a guarantor of the same. This is also set by Toyota and cannot be lowered."

I am an experienced lessor with Acura but have never dealt with Toyota before. Am I getting the run around here? I am in MA. Thanks

Michaell

metahi said:

so I am being told by the dealership that residual on the Platinum is 61% and MF "money factors go Tier 1+ for personal loans is .00180, for business it is .00190. That is with a personal score of 720+ and on a business side with a guarantor of the same. This is also set by Toyota and cannot be lowered."

I am an experienced lessor with Acura but have never dealt with Toyota before. Am I getting the run around here? I am in MA. Thanks

Check with a second dealer and see if you get the same information.

metahi

I got the same info from another dealer. Is it usual from Toyota to differ that much from your information? With Acura I never had such discrepancy.

Michaell

metahi said:

I got the same info from another dealer. Is it usual from Toyota to differ that much from your information? With Acura I never had such discrepancy.

Money factors from Toyota are regional. Could be a tad higher where you live. 

urnzway1

Can you please share the lease rates for May for AWD Limited and Platinum for 36/12?

Michaell

urnzway1 said:

Can you please share the lease rates for May for AWD Limited and Platinum for 36/12?

65% and 63%.

What state is this? We have limited money factor information for May at the moment.

urnzway1

I am in North Carolina. Please let me know if you have any thing on the Money factor side of things. Thanks

kyfdx

urnzway1 said:

I am in North Carolina. Please let me know if you have any thing on the Money factor side of things. Thanks

If NC is in the Southeast Toyota region, the money factor is .00197.

The only other MF we've seen around the country is .00180, so either way, it's high.

metahi

any updates on MF in Massachusetts?

Michaell

metahi said:

any updates on MF in Massachusetts?

Nope - I'd think the .00180 is the best you're gonna see.

mdwmd

Hello - could you please tell me the residual/MF for a 2015 Highlander Limited AWD with driver tech and Blu-Ray? Thanks!

Michaell

mdwmd said:

Hello - could you please tell me the residual/MF for a 2015 Highlander Limited AWD with driver tech and Blu-Ray? Thanks!

63% residual for 36 months, 15,000 miles per year.

MF is .00170

mdwmd

I'm sorry - I forgot to specify. What about 12K miles/year?

Michaell

mdwmd said:

I'm sorry - I forgot to specify. What about 12K miles/year?

Add 2% to the residual.

cliffpz

How does this deal sound - xle msrp $39.060. 10k/36 months. $0 down, $465 per month including taxes (nyc) and gap. Out of pocket - $465 + $299 (new plates) = $764. Didnt get selling price or residual.

Michaell

cliffpz said:

How does this deal sound - xle msrp $39.060. 10k/36 months. $0 down, $465 per month including taxes (nyc) and gap. Out of pocket - $465 + $299 (new plates) = $764. Didnt get selling price or residual.

Without the selling price, we can't model a payment.

MF is .00170 and 36/10 residual on the XLE is either 68% (FWD) or 69% (AWD)