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Toyota Highlander Lease Questions



  • golicgolic Posts: 714
    The residual value and the money factor or not some "grand" secret. Your dealer has these values and they are required to disclose to you.

    If they will not disclose this to you, then I would suggest you look for another dealer.

    I have put together an excel spreadsheet to calculate lease payments. If you email me and tell my how sales tax is charged on a lease in PA, I will send the spreadsheet for you to check.

    I have found, that unless you ASK for the current special lease money factor they will try to unload a much higher money factor on you.

    Also, shoot an email to Car_man he is often able to get current residuals and money factors for vehicles.

    Good luck.
  • getbizzygetbizzy Posts: 11
    CarMan or anyone:

    I got a deal pending on a Highlander LMT with airbag, leather/heated, Nav, tow, extra value package for $ 32,434.
    Is this a good deal? Also, what are these additional charges TDA ($ 716) Dealer Holdback ($ 637) and Whsl Financial reserve ($ 318)?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Chuck. The lease calculator that is available here at and the formula that is outlined in the following article, Calculate Your Own Lease Payment, are very accurate. The problem is that Toyota Financial Services calculates leases differently than all of the other banks that lease vehicles. Most manufacturers' residual values represent a percentage of vehicles' full MSRPs, including the MSRPs of any factory installed options. TFS on the other hand places a limit on which options can be residualized and puts caps on the amount of money that can be residualized. As a result, its lease payments are often more expensive than the ones that normal lease calculators come up with.

    Toyota is not currently providing any sort of lease support on the 2006 Tacoma. As a result, if you were to lease one through TFS, you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor for consumers who qualify for its Tier 1+ credit tier was .00265. This truck's residual value will vary depending upon how long you lease it for and how many miles per year you are allowed to drive it. If you were to do a typical 36 month, 15,000 mile per year lease on an '06 Tacoma Access Cab 4WD through TFS right now, its residual value would be 65%.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Golic is absolutely right, Chuck. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Highlander would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. You can still trade in your current vehicle when leasing your Highlander if you wan, just have the dealer cut you a check for all of it instead of using part of the proceeds as a capitalized cost reduction.

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  • Hi! I was quoted $31,611 (MSRP $33,680) on a base model 2WD 2006 Highlander Hybrid. If I don't pay any money down, what would be my estimated monthly payment for a 36 month lease? Any help is appreciated! Thanks! J. Smith
  • cartime1cartime1 Posts: 2
    I want to lease a Highlander with a 3rd row with
    LA- Leather Seat Package
    GY- Side Curtain Airbags
    TO- Towing Prep Package

    I want to know what invoice price I should be negotiating. Can you also walk me thru the lease calculations factoring in the special lease rate? What is the money factor and residual value for this model? I live in MA.
    Thank you from a lease-challenged mother!
  • su80su80 Posts: 3
    Pls forward your spreadsheet for calculating lease price. My sales tax is 8% and must be paid up front (NY). Thanks
  • sap1sap1 Posts: 4
    Is it possible to have a your lease assumed or bought out buy another party with out major penalties? I am currently leasing a Highlander thru toyota financial services.
  • kyfdxkyfdx Posts: 60,704
    If you want golic to e-mail you his spreadsheet, then click on his user name, and his e-mail address will be listed in his profile...

    Then you can e-mail him with your request, and won't have to wait for the next time he visits this forum.

    That way, you don't have to put your e-mail address in your post (which is against forum rules).



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  • rmlinnrmlinn Posts: 21
    Hi - I am looking to lease a Highlander Limited with 3rd Row, including leather (LA),Value pack 2 (VV),Side curtain airbags (GY), and heated seats (HD) for 36 months/12k per year. I am in southeast Florida where there is a "special" administrative/dest fee of 795. MSRP for above is 34160 including dest. There is 1500 cust cash. TMV is 32102 so I am looking to get a cap cost of 31000, Can you give me residual/money factor? Is there any other lease incentive? Any idea what might happen in May? Thanks!!
  • otis1otis1 Posts: 142
    TFS on the other hand places a limit on which options can be residualized and puts caps on the amount of money that can be residualized.

    Is there a list somewhere that shows which options can be residualized or what the residual is on specific options are?
  • jpappasjpappas Posts: 16
    Can someone provide me with the current MF and Residuals on the Highlander Hybrid 4x4 lease special. Specifically looking for 12K and 15K terms, and I reside in Pittsburgh PA.


  • otis1otis1 Posts: 142
    2006 Toyota Highlander 4WD 4dr Wagon Hybrid

    24 mo/15k mi – Residual Value 66% of MSRP – .00075 Base Money Factor Rate
    36 mo/15k mi – Residual Value 58% of MSRP – .00075 Base Money Factor Rate
    48 mo/15k mi – Residual Value 46% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 33% of MSRP – .00245 Base Money Factor Rate

    36 mo/12k mi – Residual Value 60% of MSRP – .00075 Base Money Factor Rate
    48 mo/12k mi – Residual Value 48% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 45% of MSRP – .00245 Base Money Factor Rate

    2006 Toyota Highlander 4WD 4dr Wagon Hybrid LTD

    24 mo/15k mi – Residual Value 65% of MSRP – .00075 Base Money Factor Rate
    36 mo/15k mi – Residual Value 57% of MSRP – .00075 Base Money Factor Rate
    48 mo/15k mi – Residual Value 45% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 32% of MSRP – .00245 Base Money Factor Rate

    36 mo/15k mi – Residual Value 59% of MSRP – .00075 Base Money Factor Rate
    48 mo/15k mi – Residual Value 47% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 34% of MSRP – .00245 Base Money Factor Rate
  • worcester1worcester1 Posts: 20
    Do these apply to the 2WD version as well? Also, are these numbers still valid in May?

  • rmlinnrmlinn Posts: 21
    Southeast Toyota has some interesting programs in place. I am considering both the 2WD Hybrid and non hybrid LTD with third row and Nav in south Florida. Any info on MF/residuals as well as customer cash? Edmunds indicates $500 but only for military? And SE Toyata indicates $2000 cash back, whatever that really means. It seems like people are doing a little better than TMV and the dealers seem to have a lot of cars on the lot. Any help would be appreciated.
  • cashtexascashtexas Posts: 5
    I was just quoted this moments ago:

    San Francisco Toyota
    2006 Highlander Sport 4x4 + Leather + Htd Seats + NAV
    Base price: $33,939
    MF: .00068
    Residual: $17,511
    Mo. Payment: $563

    Good deal? Bad deal? This is based on $0 down and Tier 1+ credit from TFS.

  • I just leased a 2006 Highlander
    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
    With $750 cap cost red, $426 /mon, 36 month, 15k/yr.

    I beat the dealer down pretty good and he said that my calculations (standard lease calcs) were no good and that they are not making any money on the lease. Can I assume that this is a good price?
  • cidchriscidchris Posts: 9
    Hi, I was wondering if anyone could provide the June 06 lease rates (MF & residuals) for Highlander Hybrid 4WD? I live in MA.

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi xrunner123. If you share what this truck's selling price was with me I would be happy to give you my opinion on this lease.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello cidchris. This truck's lease program varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. For now, I will assume that you are interested in a common set of terms - 36 months with 15,000 miles per year. Let me know if you want something different. You reside in Toyota's Boston region. If you were to lease a 2006 Highlander Hybrid base 4WD in that area right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00075 and 58%, respectively assuming that you qualify for its Tier 1+ credit tier.

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  • cidchriscidchris Posts: 9
    Thanks Car_man, that was exactly what I was looking for!!
  • mokiavellimokiavelli Posts: 55
    Car_man, I live in San Diego and am looking to lease either a 4 or 6 cylinder 2WD Highlander NON-Hybrid, could you give me the money factor and residual percentage on those 2 vehicles? I am looking at 36 months, with 12,000 miles per year.

    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.
  • jmcmbzjmcmbz Posts: 42

    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!
  • jmcmbzjmcmbz Posts: 42
    The dealer here in Mass has quoted me an unbelievable MF of .0001 for 36Mos w/ 12K miles and residual of 60% for a payment of $221/month. The MSRP is $28345.00 (base 4cyl w/ Sunroof, Alloy wheels, Mud Flaps, Privacy Glass and NE Emissions)and quoted CAP is $24500.00 (selling price). Drive off fees quoted at $930 and includes a $400 bank fee, $309 for Registration and $221 first payment. I am not sure if there is a security deposit but think it is waived. We are trading a 96 Jeep Grand Cherokee with 162K miles and using the equity for drive off fees so it's 0.00 out of pocket. Should we jump on it?
  • Well I probably got screwed but here's the info. It differs slightly from what I posted before.

    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
    Thank so much
  • Car_man, Can you check out my lease and let me know how it looks?

  • mokiavellimokiavelli Posts: 55
    2WD Base Highlander Hybrid in San Diego

    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?
  • jmcmbzjmcmbz Posts: 42
    We ended up getting the Highlander for the $221 per month (as posted above) with 0 out of pocket. At the last minute we were suprised with a finance manager saying that Gap Insurance would be an additional $11 per month. I have leased many cars (but no Toyota's) and this is the first time Gap has not been included. We ended up getting it for $9 per month for a total payment of $230 per month (including Mass 5% tax) but I was not happy that this was not disclosed to me. Also the fact that the price was negotiable made me wonder what the true cost is. Anyway, I hope we did OK. I know the MF of .0001 was unbelievable and the CAP of $24500 was good. This CAP price was in lieu of the $1200 rebate as I was told (and shown documentation from Toyota) that this was not applicable with the special MF. It was more difficult for me to negotiate this lease as this was not an advertised lease that I could check up on. We are pretty happy overall.
  • reorgreorg Posts: 3
    Can anyone give me the numbers on a 2006 Highlander Hybrid Ltd 2wd Texas lease? Dealer has stated that they will give us invoice on the vehicle (just bought a fully loaded Prius from them three days ago). Looking at a 60 month lease and 12K per year.
  • mokiavellimokiavelli Posts: 55
    I don't have the exact numbers on a 5 year lease, but Toyota is currently offering a special money factor of .00075 on a 36 months lease. So, right now, a 3 year lease might have lower payments than 5 year lease, plus you are not tied to the car as long.

    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.
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