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Toyota Highlander Lease Questions

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Comments

  • jnkohjnkoh Posts: 37
    Update, got a counter offer from another dealer,

    same highlander, base 4wd option B.
    Cap cost 28000
    1434 due at signing (all inceptions, fees, first month payment, and taxes)
    $368 a month.
  • MF yesterday I was quoted this by a dealer in the Tampa Bay area:

    36 mo./ 12K per year:

    MF - 0.00143
    Residual - 49%

    Personally I'm waiting several more weeks this dealer and several others had loads of 08's on their lots. With the 09's coming in, and the current economic times I think you'll see either rates coming down or dealers wanting to slash prices on 08's. Toyota's US sales, including the Highlander, are waning.
  • I have to agree with medtech's comment regarding the Highlander.
    I'm currently renting a car in Denver,CO while waiting for Toyota prices to come down on the 2008 models. Local Denver dealers are sitting with a major surplus of 2008's and I'm still continuing to get lease numbers for a 4WD Sport in the mid $500's per month for a 3 year lease/12-15K miles/2000-3000K down.

    The real problem is I can't find a 2008 Highlander Sport with Navigation and cloth interior, and power rear door. I was told multiple times that such option/configurations don't exist. I find this completely and utterly absurd. If I'm paying for something, I should get want I want.

    The dealers I've been dealing with have been offering me vehicles with options I DON"T WANT! I don't want a sunroof, tow package or leather.
  • Please tell me you didn't lease a Highlander for $650 a month.
  • jk764jk764 Posts: 17
    heck no!

    went with a volvo xc90. experience at volvo also far superior.
  • Crisis averted.
  • Does anyone have the new MF and residuals for a FWD Limited 08 Highlander for 15K miles for 24 and 36 months? Also do they do 18K miles? I am in Texas. Why does it seem that the deals in other parts of the country are better than here? Thanks in advance.
  • Hi -

    Please help me evaluate the following:
    2008 Highlander 4x4
    MSRP=$40,898
    Negotiated Price=$36,603
    Lease Terms:
    36 months
    15k miles/year
    $905 down (includes taxes, etc)
    $699/month payment

    Good, bad, ugly?

    Thanks!
  • $699/month payment

    OH MY!! PLEASE tell me you played your pass card on that. At that figure, you'd be better off buying, or going somewhere else.
  • I completely agree, tourguide. Seven hundred bucks a month for a Toyota Highlander is absolutely nuts. That's BMW, Mercedes-Benz, Lexus territory. Definitely pass on this "deal."

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • **OMG** Have I got a good one for you all. I am doing some preliminary shopping for Highlander, so I asked my local dealer to throw me some numbers for HiHy 12K/35 month - low to no money down and to throw me the same on a limited gasser. I wanted to just get a feel for where they were going to come in.

    Get this, for the HiHy - $975/month

    For the Sport (he said he couldn't find a limited) - $700/month

    No WAY would I accept those terms. EVEN at 7 franklins a month - I'd be owning that baby at the end.

    I may be looking for another dealer soon, when it comes time to get serious.
  • Just to give you an idea of what Lexus and Volvo are doing for leases. I have been looking at the xc90 and the rx350 (and decided to compare with the highlander tonight).

    2008 Volvo xc90 SE AWD (loaded with Navigation, backup camera, etc)
    $4500 down
    $515/mo

    2009 Lexus RX350 AWD (with Nav, etc)
    $3500 down
    $495/mo

    I don't see leasing a Highlander for $699 when you get get a much better deal on other suvs. Granted those are not hybrids but still.

    BTW - is the Highlander the same car as the Lexus GX470?
  • briegelbriegel Posts: 139
    The Highlander is essentially the same as the Lexus RX 350, or 400h as a hybrid.
  • Those monthly payments are more in line wiht what I'd expect to pay for a lease, though that is a LARGE amount of coin down. That helps reduce your monthly by quite a bit.
  • Holy Toledo, tourguide. Those are some crazy payments :surprise: . It's weird, too because Toyota's lease program on the '08 non-Hybrid Highlander is fairly attractive right now in most regions. Needless to say, you need to find a different dealer to work with. Thanks for the laugh.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm looking into leasing a '09 Highland Sport AWD in Virginia. MSRP is $37,280 and includes upgraded stereo, Homelink, leather, power hatch, dual front a/c, auto rr a/c, sunroof, and tow package. Edmunds shows this car at $32,724 invoice and $34,925 TMV. I'm want to have a low monthly payment even if I pay more upfront. This is the first time I've leased and don't know how much is too much upfront. I looked into a '08 LTD AWD ($38,900 MSRP, 43% residual) model at a different dealership and their original offer including a trade was an astounding $862/mo with $1800 down. I got them down to $535 with $4k down based on a $34k sales price, but that payment was too high for what I want. I'm hoping the Sport and a different dealership may give me a more favorable residual and sales price. Any opinions on how low of a monthly payment I can get? Another question is on taxes. In VA, they charge you the entire tax of the car upfront (3%) and build this in. It seems to be different from the lease calculators that I've seen that charge a regular sales tax based on the lease payment.

    Any help would be greatly appreciated!
  • The standard advice on this forum is DON'T put loads of money upfront. If something catastrophic happens to the vehicle, that money is gone. So in order for a lease to be worthwhile it should be less than what you can buy for. The figures you were quoted were the same type of rediculous quote I was given. Look back and see the numbers I was thrown - no way would I go for that, or anything like that.

    IMO these vehicles are NOT a good lease bet right now. Toyota is hammering the residual right down into the basement - likely a forecast of fuel prices, and realistically they are probably right in that. Leasing these things used to be a great deal. Four years ago it was no problem to get a lease on a Higlander for ~$300 a month with no hassle and little to nothing down. Compare that to what you are being offered and consider that you can finance one of these for purchase over five years for the same lease payment they are offering - less in fact. You can pay for one over five years for about $670 a month (using 5.75% and an OTD price of 35000).

    Leasing needs to be a better deal than that (WAY better IMO) and NO MONEY DOWN, or it ISN'T a deal in any sense of the word.
  • Could someone please provide most recent MF and residual for a 3yr 36k lease (No. Cal.)

    Thank you.
  • BCD31BCD31 Posts: 4
    hi Carman,

    Can you please post the MF and residual percentage for a 36 month lease at 12k per year for both a 2008 sport and base highlander 4wd? Is TFS providing the best lease package at this point? I am located in the Northeast (CT). Is their more incentive to lease a 2009 in terms of MF and residual? Probably wont get more of discount on a 2009 than a 2008 in terms of cap cost.

    Thank you!
    BCD31
  • BCD - I gave up on the Highlander - Toyota is not budging on MF or residuals. Best deal to be had right now is the actually the RX350 - cheaper lease than the Highlander. I can't figure out why the "luxury" edition of the identical Toyota is less, other than a projected residual of 54%.
  • wvgasguywvgasguy Posts: 1,405
    I considered the RX but then found that it is the "old" Highlander competition and not upgraded like the new model Toyota. Not sure why they were not upgraded in the same model year.

    It's always been discussed as to why anyone would pay more for the Lexus when the differences were little but now with the new Highlander, you really just are paying for the prestige. I liked the new HH better than the Lexus for 2009.
  • Hi spingrinder. Toyota is not currently providing any lease support on the Highlander Hybrid. As a result, if you were to lease one through Toyota Financial Services right now, you would have to use its standard lease program. TFS' current buy rate standard lease money factor is .00295 for consumers who qualify for its top aka "Tier 1+" credit tier.

    Its current 36 month, 12,000 mile per year residual value for a base 2009 Highlander Hybrid is 57%. the problem is that TFS places restrictions upon what options can be residualized. This makes is difficult to figure out the actual dollar residual value for vehicles. So much so, that Toyota provides dealers with lists of the dollar residual values for the specific units that they have in inventory rather than relying upon them to calculate the resids themselves.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pcantorepcantore South FloridaPosts: 110
    Hi Carman,

    I've got the following offer from a dealer for a 09 Model# 6942 Base 2WD 4 Cyl. Auto. with Towing Prep Pkg, Convenience Pkg, Manual Rear Air, Pwr Driver Seat, Daytime Running Light Pkg., Engine Immobilizer and 3rd Row Seat Pkg.

    Can you please provide the estimated monthly payment and TFS's Tier 1+ MF and residual percentage for a 48 month lease at 12k or 15k miles per year? I am located in the South (FL). Are there currently any incentives on 2009 Base 4 cyl.?

    Thanks for your help!

    PC
  • pcantorepcantore South FloridaPosts: 110
    This was the sale price offered: $26,950.
  • Hi pcantore. I see that you are located in Florida. Florida is the land of Toyota's independent distributor, SE Toyota. SE Toyota does not run leases through Toyota Financial Services. It uses its own captive finance company instead. Unfortunately, I have not seen SE Toyota Finance's lease program this month. sorry that I could not be of more help.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car man
    Can you please post the current lease numbers for Highlander Sport AWD in PA (Philadelphia area)? Also if there are any incentives for the 2008 left over there are quite a few in my area.
    Also was wondering is there any other incentives to purchase besides the 2K that is currently being offered. What kind of percentage rates will I be looking at?
  • AXM23AXM23 Posts: 64
    CAR MAN - can you tell me if the $2500 cash on the Highlander can go towards a lease? And is this cash only for 2008 models?

    What is the MF and Resid. on the Highlander Limited with Extra Value Package No. 1?

    36 months
    12k yr

    Thanks
  • AXM23AXM23 Posts: 64
    Is the reason why these posts on lease deals for the highlander dying because leasing rates are through the roof?

    I visited 2 local dealers in the northern NJ area for a Highlander Ltd. No nav
    Here are the quotes:

    36 months
    12k yr
    2000 out of pocket
    $689 w/ tax !

    2nd dealer:
    $639 a month

    Is anyone being quoted anything significanly different?
    Is the MF and residual this bad?
  • That's about right.....if you look at a 3 year loan for $30K @ 3.75%, the monthly payments are very close to that. My lease was no $$ down, for 36 months and 18K miles/year. Got them to throw in the maintenance, oil changes and tire rotations for the entire lease. My residual is 49.8% after 36 months and 54,000 miles. As one of the members said, which I will confirm that the Toyota Highlander LTD does NOT lease well....but I have had no issues with maintenance, I like the way it rides and drives. I doubt though, I will lease another. If you do decide to go with it, the Toyo 19" OEM tires are crap, and I had to replace them after only 16,500 miles.

    My .02 worth.....
  • AXM23AXM23 Posts: 64
    Thanks Houston Man. I am going to wait until March to see if there are any other better offers from Toyota. There is no way I am going to pay that kind of money on a lease for a Highlander.
This discussion has been closed.