2016 Toyota Highlander Lease Questions

s_hoch

Hi, I'm in Maryland - Looking for MF and residual for the following:

- 2016 Toyota Highlander XLE AWD - 36/15
- 2016 Toyota Highlander Limited AWD - 36/15

Thanks!

cheapjack

Just FYI... I was looking into Highlanders/Pilots and saw someone's post here suggesting to look into the higher priced 2015 Infinity QX60 which are actually working out to smaller payments than Highlanders/Pilots becuase of the aggressive discounts and MFs. I just ended up getting one yesterday for $8k below MSRP with a 0.00061 money factor. Might be something to look into. Head on over to the QX60 forum for the deals.

Michaell

s_hoch said:

Hi, I'm in Maryland - Looking for MF and residual for the following:

- 2016 Toyota Highlander XLE AWD - 36/15
- 2016 Toyota Highlander Limited AWD - 36/15

Thanks!

.00190 and 68% (XLE) or 65% (Ltd)

zeusmontes

What is the MF and RV for a Limited Platnum AWD in Monterey, CA?

36/12
36/15 

Michaell

zeusmontes said:

What is the MF and RV for a Limited Platnum AWD in Monterey, CA?

36/12
36/15 

36/15 - .00190 and 63%. Add 2% for 12K

Residual is good until 4/4/16; MF expires today, but I don't expect any changes for March.

dmicg25

Can you confirm if the MF and Residual has remained unchanged for March? AWD XLE in NJ 36/12

Michaell

dmicg25 said:

Can you confirm if the MF and Residual has remained unchanged for March? AWD XLE in NJ 36/12

No changes for March - .00190 MF and 70% for 36/12.

jimslade1

Hello, I'm looking at a 2016 Highlander AWD Limited Platinum in the Phoenix, Arizona area. Do you know what the MF and Residual are for a 36mo/12K lease? One of the local dealers quoting MF @ .002 and residual at 63%. The MF seems high, and the residual seems low. Does the MF change with A+ credit? Thank you.

Michaell

jimslade1 said:

Hello, I'm looking at a 2016 Highlander AWD Limited Platinum in the Phoenix, Arizona area. Do you know what the MF and Residual are for a 36mo/12K lease? One of the local dealers quoting MF @ .002 and residual at 63%. The MF seems high, and the residual seems low. Does the MF change with A+ credit? Thank you.

63% is the 36/15 residual, and we believe the standard MF is .00190, so it's marked up, but not by much.

Yes, the MF could go up based on credit score.

kyfdx

jimslade1 said:

Hello, I'm looking at a 2016 Highlander AWD Limited Platinum in the Phoenix, Arizona area. Do you know what the MF and Residual are for a 36mo/12K lease? One of the local dealers quoting MF @ .002 and residual at 63%. The MF seems high, and the residual seems low. Does the MF change with A+ credit? Thank you.

We show 65% residual for 36/12, for that model. 63% is the 36/15 residual.

MF is definitely in the .00190-.0020 range.

dmicg25

Hi. Looking for confirm if this is a good deal. Have not signed yet but considering going back tomorrow and signing.

2016 AWD XLE with All Weather mats/cargo liner. Protection Package, 2nd row Captains chairs.

MSRP- 40,203
Sale Price- 37,306 (this includes accessories above, destination charge, and TDA)
NJ MV Fee- 399
Acquisition- 650
Doc/dealer Fees- 395 (they won't move on this)
36/12
421 + 30 (7% NJ Tax) = 451
451 total due now (first month payment only) Fees above rolled in

Took a lot to get them down to here. Thanks for all your post it was very helpful

Michaell

dmicg25 said:

Hi. Looking for confirm if this is a good deal. Have not signed yet but considering going back tomorrow and signing.

2016 AWD XLE with All Weather mats/cargo liner. Protection Package, 2nd row Captains chairs.

MSRP- 40,203
Sale Price- 37,306 (this includes accessories above, destination charge, and TDA)
NJ MV Fee- 399
Acquisition- 650
Doc/dealer Fees- 395 (they won't move on this)
36/12
421 + 30 (7% NJ Tax) = 451
451 total due now (first month payment only) Fees above rolled in

Took a lot to get them down to here. Thanks for all your post it was very helpful

Given the high MF on the Highlander, it looks like a solid deal.

dmicg25

Thanks Michaell, I signed the deal above and drove off. Thanks all for your help.

jfontestad

Hello!

Any information on MF / Residual on 2016 Highlander XLE and 2016 Highlander Limited for Baton Rouge, La.?

I'm looking at a 2016 XLE
MSRP $41,511.
Sale price $37,890.
Down Pymnt $6,141.89

Sales Tax $1,683.41 <Being included in Gross CapCost, which I believe is incorrect since I am paying sales tax monthly with the lease payment>

Lic, Doc, Title $873
GAP Ins. $595

Gross CapCost $34,230.64

Term : 36
MF : .002
Residual : $27,473

Lease Payment $311.12
Tax 28.00 (9%)
Total p/ Month $339.12

Does this seem right? I have that it should be around $306 p/ month, as I shouldn't be being charged the $1,683.41 sales tax that they've included in the Gross Cap Cost.

Just want to make sure that they're no pulling a fast one on me.

Thanks!

kyfdx

jfontestad said:

Hello!

Any information on MF / Residual on 2016 Highlander XLE and 2016 Highlander Limited for Baton Rouge, La.?

I'm looking at a 2016 XLE
MSRP $41,511.
Sale price $37,890.
Down Pymnt $6,141.89

Sales Tax $1,683.41 <Being included in Gross CapCost, which I believe is incorrect since I am paying sales tax monthly with the lease payment>

Lic, Doc, Title $873
GAP Ins. $595

Gross CapCost $34,230.64

Term : 36
MF : .002
Residual : $27,473

Lease Payment $311.12
Tax 28.00 (9%)
Total p/ Month $339.12

Does this seem right? I have that it should be around $306 p/ month, as I shouldn't be being charged the $1,683.41 sales tax that they've included in the Gross Cap Cost.

Just want to make sure that they're no pulling a fast one on me.

Thanks!

Assuming the MF is around .00190, I agree with your calculations.

You'll have to ask the dealer about the tax. There will be some upfront tax, because of the large CAP cost reduction you are making, but at 9%, the $1683 number doesn't make sense.

Sometimes, total sales tax is disclosed, even though that amount isn't being added to the CAP cost.. Check all the numbers to see if this is the case.

ufaquarian

Hi, I am looking to lease a 2016 Highlander XLE AWD with MSRP of 39400. The dealer is offering a discount of 3000. What will be the MF / Residual and lease payment without tax in Minnesota ?

Michaell

ufaquarian said:

Hi, I am looking to lease a 2016 Highlander XLE AWD with MSRP of 39400. The dealer is offering a discount of 3000. What will be the MF / Residual and lease payment without tax in Minnesota ?

.00190 MF.

What lease term and miles per year are you looking for?

ufaquarian

36 month / 12,000 miles per year.

Michaell

ufaquarian said:

36 month / 12,000 miles per year.

70% residual.

Using the MSRP of $39,400 and a cap cost of $36,400, I get a payment of $367/mo before tax.

alymac1

Hello, checking to see if this is a good deal or not. Went into dealer yesterday, inquired about current Highlander lease offer in my area, finance manager and sales person "pretended" not to be aware of it, not sure how genuine that was or not. I found it quite surprising that they didn't know of a lease incentive on a top selling SUV, but that's another story. Here is what I was quoted, please advise if this seems like a good deal.
Las Vegas area. Thank you.

2016 Highlander XLE FWD
MSRP 41,402
Res 79% - 32,708
Selling price 37,972.99
Adjusted cap cost 36,393.30
MF 0.00210
24 month / 12k
Upfront fees 524.25
Taxes 806.22
Cash down due at drive off 3,299.00

Monthly pmt 323.00

The sheet also lists a "capped fee adds" of 650.00 - I think this is doc / destination fee?
Cash cap reduction listed at 2,229.69, I'm not sure what this refers to.

Thanks for any info, please let me know if I left out any info!

Michaell

alymac1 said:

Hello, checking to see if this is a good deal or not. Went into dealer yesterday, inquired about current Highlander lease offer in my area, finance manager and sales person "pretended" not to be aware of it, not sure how genuine that was or not. I found it quite surprising that they didn't know of a lease incentive on a top selling SUV, but that's another story. Here is what I was quoted, please advise if this seems like a good deal.
Las Vegas area. Thank you.

2016 Highlander XLE FWD
MSRP 41,402
Res 79% - 32,708
Selling price 37,972.99
Adjusted cap cost 36,393.30
MF 0.00210
24 month / 12k
Upfront fees 524.25
Taxes 806.22
Cash down due at drive off 3,299.00

Monthly pmt 323.00

The sheet also lists a "capped fee adds" of 650.00 - I think this is doc / destination fee?
Cash cap reduction listed at 2,229.69, I'm not sure what this refers to.

Thanks for any info, please let me know if I left out any info!

I get $299/mo before tax with those numbers ... seems solid, though the MF may be marked up a tiny bit.

alymac1

Thanks for your reply! I was wondering about the MF as it seemed higher than what others were listing. Can you tell me what the pmt would be with $0 down?
Thanks!

Michaell

alymac1 said:

Thanks for your reply! I was wondering about the MF as it seemed higher than what others were listing. Can you tell me what the pmt would be with $0 down? Thanks!

 Add about $28 a month for every $1000 you are not putting down. 

 The money factor of .00210 may be correct for your area; but, it could also be marked up slightly from the .00190 that we show

alymac1

Thank you!

socalgrl

sundeviloc
I pulled the trigger on the 2016 Highlander XLE in the Los Angles area. Current money factor for Highlander is .0020 in the LA Area. I ended up doing the max security deposits (9) for $3,150 and took the rate down to .00128. This is actually a great return on your money when you do the match. I am essentially getting a 17% return on my refundable security deposit. Definitely something to look at if you have money laying around not earning any sizable return. Many dealers are not familiar with the MSD program so you need to ask around to find someone that knows it and is able to put the deal together. This dealer sold me the car $343 below invoice. $350 per month on 12K 36 mo $1312 drive off and the $3150 refundable deposit.

sundeviloc said:

I pulled the trigger on the 2016 Highlander XLE in the Los Angles area. Current money factor for Highlander is .0020 in the LA Area. I ended up doing the max security deposits (9) for $3,150 and took the rate down to .00128. This is actually a great return on your money when you do the match. I am essentially getting a 17% return on my refundable security deposit. Definitely something to look at if you have money laying around not earning any sizable return. Many dealers are not familiar with the MSD program so you need to ask around to find someone that knows it and is able to put the deal together. This dealer sold me the car $343 below invoice. $350 per month on 12K 36 mo $1312 drive off and the $3150 refundable deposit.

Hi Sundeviloc...I'm also in the Los Angeles area and if possible I would love to know where you purchased your car.
Thanks

nano718

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Michaell

nano718 said:

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Not enough information - we'll need to know the MSRP and selling price.

Also, what is the breakdown of the $1367 - does it include all taxes and fees, or are some of them being added into the selling price?

36/12 numbers for the LE AWD are .00190 and 71%.

nano718

Michaell said:

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Not enough information - we'll need to know the MSRP and selling price. Also, what is the breakdown of the $1367 - does it include all taxes and fees, or are some of them being added into the selling price? 36/12 numbers for the LE AWD are .00190 and 71%.

Mspr: $33875
selling: $32975

fees include all taxes, fees and dmv fees

Michaell

W

nano718 said:

Michaell said:

nano718 said:

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Not enough information - we'll need to know the MSRP and selling price.

Also, what is the breakdown of the $1367 - does it include all taxes and fees, or are some of them being added into the selling price?

36/12 numbers for the LE AWD are .00190 and 71%.

Mspr: $33875
selling: $32975

fees include all taxes, fees and dmv fees

With those prices, I get $356/mo plus tax, so $389/mo is about right.

nano718

Michaell said:

W

Michaell said:

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Not enough information - we'll need to know the MSRP and selling price. Also, what is the breakdown of the $1367 - does it include all taxes and fees, or are some of them being added into the selling price? 36/12 numbers for the LE AWD are .00190 and 71%.

Mspr: $33875
selling: $32975

fees include all taxes, fees and dmv fees

With those prices, I get $356/mo plus tax, so $389/mo is about right.

It is a good or fair deal? This is from a non dealership guy who does leasing. I just only checked one dealership and they quoted me at $422. Will check more dealerships in a few days

kyfdx

nano718 said:

Michaell said:

W

nano718 said:

Michaell said:

nano718 said:

Hello. I got a quote from a guy who does leasing in NYC. Was refferred from a good friend. 

2016 toyota highlander LE AWD
payment is $389 per month. Fees: $1367 due at signing. Zero down. 3 yr/ 36k miles 

let me know if this is a good deal. 

Not enough information - we'll need to know the MSRP and selling price.

Also, what is the breakdown of the $1367 - does it include all taxes and fees, or are some of them being added into the selling price?

36/12 numbers for the LE AWD are .00190 and 71%.

Mspr: $33875
selling: $32975

fees include all taxes, fees and dmv fees

With those prices, I get $356/mo plus tax, so $389/mo is about right.

It is a good or fair deal? This is from a non dealership guy who does leasing. I just only checked one dealership and they quoted me at $422. Will check more dealerships in a few days

We don't follow transaction prices.

yortiz

Hi, I am looking for MF and RV for a FWD XLE 36 mo/15k please. Thank you.

Michaell

yortiz said:

Hi, I am looking for MF and RV for a FWD XLE 36 mo/15k please. Thank you.

67% and .00190

charles603

Hello. Leasing a Highlander and wanted to know how the numbers compare an share with the rest of the buyers. Highlander XLE 12k / 36 Mo in NJ. MSRP $40,200 / Purchase Price (lease) $37,520, Does not include GAP - everything else included (Tax / DMV / etc). I am paying $2500 out of pocket and $450 /Mo (MF.00190). Those numbers include turning in a vehicle lease with $1340 remaining in monthly payments and $1100 owed in excess mileage , + $350 disposition fee. Thoughts?

Michaell

charles603 said:

Hello. Leasing a Highlander and wanted to know how the numbers compare an share with the rest of the buyers. Highlander XLE 12k / 36 Mo in NJ. MSRP $40,200 / Purchase Price (lease) $37,520, Does not include GAP - everything else included (Tax / DMV / etc). I am paying $2500 out of pocket and $450 /Mo (MF.00190). Those numbers include turning in a vehicle lease with $1340 remaining in monthly payments and $1100 owed in excess mileage , + $350 disposition fee. Thoughts?

How is the $2400 of payments / mileage charges being handled? Are those costs being added into the selling price you've negotiated, or is it part of the $2500 out of pocket?

Why are you ending your current lease early? If you wait until the end of the lease, you'll only have the mileage charges to deal with.

charles603

Thank for the prompt response. The car is experiencing issues that are no longer under warranty and it's best to get out. Last week was $170 in faulty indicator lights, due to an electrical grounding issues, also needs tires around 5k miles ago. All payments for mileage / lease payments are included in the $2500 down / $450 mo. No additional out of pocket.

patrick427

I am in the somewhat stingy pacific northwest. Been offered a 2016 Highlander Ltd. Platinum MSRP $45,600
final offered price $43,000
MF .0019 (they initially tried .0020)
$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles
residual 12k lease it's $29,634 and for the 15k lease it's $28,722

Does this all seem reasonable?

Michaell

patrick427 said:

I am in the somewhat stingy pacific northwest. Been offered a 2016 Highlander Ltd. Platinum MSRP $45,600
final offered price $43,000
MF .0019 (they initially tried .0020)
$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles
residual 12k lease it's $29,634 and for the 15k lease it's $28,722

Does this all seem reasonable?

I get $581/mo assuming 9% tax and that the selling price is the cap cost for 15k miles.

How does the $3k break down?

patrick427

this is how they presented it to me. the tax rate by the way is 9.2% (ugh!) Can you elaborate on how it breaks down? They are obviously doing their best to only shoot me the numbers they think I deem relevant and not giving me a breakdown. I do know the state cap on doc fee is $150. Not sure what their Ac fee is.
they just said residual for a 12k lease is 29,634 and a 15k lease is 28,722.

Michaell

patrick427 said:

this is how they presented it to me. the tax rate by the way is 9.2% (ugh!) Can you elaborate on how it breaks down? They are obviously doing their best to only shoot me the numbers they think I deem relevant and not giving me a breakdown. I do know the state cap on doc fee is $150. Not sure what their Ac fee is.
they just said residual for a 12k lease is 29,634 and a 15k lease is 28,722.

There is the first months payment, the acquisition fee, dealer fees, DMV costs. Then there may be a down payment, which we don't recommend doing. If the new car is stolen or totaled, that money is lost.

patrick427

They elaborated a little more...

Selling price: $43,000

aquisition fee: 650

doc fee: $150

License Fee: 213

Tax will be about 8%

$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles/yr
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles/yr
Both payments include all taxes and fees.​

Michaell

patrick427 said:

They elaborated a little more...

Selling price: $43,000

aquisition fee: 650

doc fee: $150

License Fee: 213

Tax will be about 8%

$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles/yr
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles/yr
Both payments include all taxes and fees.​

So, of the $3K they are asking for, about $1K for fees, and I assume the rest is considered "down payment"

As noted before, we don't recommend that. Your payment will go up about $55/mo without the down (2000 / 36), but still less than the payment the dealer is quoting.

Something still seems off. Confirm that the selling price is the same as the net capitalized cost - if not, find out what the dealer has added.

charles603

charles603 said:

Thank for the prompt response. The car is experiencing issues that are no longer under warranty and it's best to get out. Last week was $170 in faulty indicator lights, due to an electrical grounding issues, also needs tires around 5k miles ago. All payments for mileage / lease payments are included in the $2500 down / $450 mo. No additional out of pocket.

Hi Michael, can you please advise? Thank you.

Michaell

charles603 said:

charles603 said:

Thank for the prompt response. The car is experiencing issues that are no longer under warranty and it's best to get out. Last week was $170 in faulty indicator lights, due to an electrical grounding issues, also needs tires around 5k miles ago. All payments for mileage / lease payments are included in the $2500 down / $450 mo. No additional out of pocket.

Hi Michael, can you please advise? Thank you.

So, if the $2500 up front covers the prior lease charges, are the acquisition / dealer fees being added to the negotiated selling price? What is the net cap cost, after all these additions?

$450/mo seems to be OK, but until we have all the details, it's all guesswork.

patrick427

Michaell said:

patrick427 said:

They elaborated a little more...

Selling price: $43,000

aquisition fee: 650

doc fee: $150

License Fee: 213

Tax will be about 8%

$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles/yr
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles/yr
Both payments include all taxes and fees.​

So, of the $3K they are asking for, about $1K for fees, and I assume the rest is considered "down payment"

As noted before, we don't recommend that. Your payment will go up about $55/mo without the down (2000 / 36), but still less than the payment the dealer is quoting.

Something still seems off. Confirm that the selling price is the same as the net capitalized cost - if not, find out what the dealer has added.

their breakdown for a $591 payment is as follows:
Selling price: $43,000
MF: .0019
Residual $29,634
Cash down: $600
License fee: $213
Taxes: $1902.59
Doc Fee: $150
Aquisition Fee: $650

Michaell

patrick427 said:

Michaell said:

patrick427 said:

They elaborated a little more...

Selling price: $43,000

aquisition fee: 650

doc fee: $150

License Fee: 213

Tax will be about 8%

$518/mo w $3k down. $592/mo with just 1st payment down. 12k miles/yr
$545/mo w $3k down $618/mo with just 1st payment down. 15k miles/yr
Both payments include all taxes and fees.​

So, of the $3K they are asking for, about $1K for fees, and I assume the rest is considered "down payment"

As noted before, we don't recommend that. Your payment will go up about $55/mo without the down (2000 / 36), but still less than the payment the dealer is quoting.

Something still seems off. Confirm that the selling price is the same as the net capitalized cost - if not, find out what the dealer has added.

their breakdown for a $591 payment is as follows:
Selling price: $43,000
MF: .0019
Residual $29,634
Cash down: $600
License fee: $213
Taxes: $1902.59
Doc Fee: $150
Aquisition Fee: $650

What state is this? If it's Washington, then tax is applied to the monthly payment, not charged up front.

Using $45,600 as the MSRP, $43,000 as the cap cost, 63% residual (36/15 for AWD Limited Platinum) and .00190 as the MF, I get $533/mo. Add 9.2% tax, and the payment goes to $582/mo.

So, closer to the $591/mo quote, but still about $325 difference somewhere.

If I subtract the $600 "down" from the $43,000 selling price, the payment drops to $562/mo with tax added in.

Numbers still aren't adding up to the dealer quote.

Ask the dealer specifically for the net capitalized cost - if different than the selling price, make them explain to your satisfaction what they've added.

sb1805sb

Can you please provide the MF and RV for a 2016 limited in California? 36 months, 12k/year. For FWD and for AWD.

Thanks!

sb1805sb

sb1805sb said:

Can you please provide the MF and RV for a 2016 limited in California? 36 months, 12k/year. For FWD and for AWD.

Thanks!

Maybe I should specify that this is for the Los Angeles area (if it makes a difference).

Michaell

sb1805sb said:

sb1805sb said:

Can you please provide the MF and RV for a 2016 limited in California? 36 months, 12k/year. For FWD and for AWD.

Thanks!

Maybe I should specify that this is for the Los Angeles area (if it makes a difference).

.00190 MF and 66% for FWD, 67% for AWD

sb1805sb

Michaell said:

sb1805sb said:

sb1805sb said:

Can you please provide the MF and RV for a 2016 limited in California? 36 months, 12k/year. For FWD and for AWD.

Thanks!

Maybe I should specify that this is for the Los Angeles area (if it makes a difference).

.00190 MF and 66% for FWD, 67% for AWD

Thank you!