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Toyota Highlander Lease Questions



  • mokiavellimokiavelli Posts: 58
    According to message #45, the residual is 34%, which means you would have helped Toyota pay 66% of the value of the car. The money factor in that message shows .00245.

    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.
  • reorgreorg Posts: 3
    Okay, just got off the phone with Toyota of Richardson. Price on a fully loaded 2WD Ltd Hybrid plus DVD is 37830. The tax rate is 1.2% (they are applying a credit to sales tax), 36 month lease, .00075 money factor, 20,839 residual on 15,000 miles per year. They tell me the payments are going to be $644/mo (nothing down). I ran the numbers on the calculator on this site and get $563 +/-. They want me to come in and show them the numbers. Does $644 sound right? :confuse:
  • I wish someone would post Toyota's way of calculating lease payments. It seems like the prices are all over the map.
  • topgun7topgun7 Posts: 412
    644 is way high for the price you are looking at with the money factor of 0.00075. I think they probably charge you MSRP or more.

    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.
  • gmanusmcgmanusmc SoCalPosts: 699
    CarMan (or anyone who has the info). Would like to know the MF & Residual for this vehicle's 36 month, 12k & 15k Lease. Also as some others have asked, anyone know how Toyota figures the residual they use to calculate their leases? Kinda frustrating after years of leasing Honda products where the pricing and leasing terms are much more simplified.

    Thanks In Advance, Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • mokiavellimokiavelli Posts: 58
    I just calculated w/ a cap cost of 37830+400 acq fee= 38230. w/ MF of .00075 and residual of 20839. Pmt is $527 + tax.
  • reorgreorg Posts: 3
    My calculations came to be $563.36 (they are giving us a 5.05% credit against the 6.25% tax (i.e., the tax rate is 1.2%).
  • cidchriscidchris Posts: 9
    Hi Car_man,

    Do you know if the program has changed for July?

    3 Year

  • dooley78dooley78 Posts: 5
    It looks like they have extended (in the northeast at least) the $199 36month 12k promotion. Are they still using the same depreciation/money factor numbers from las month?
  • po10lpo10l Posts: 1
    Looking to lease 2006 Highlander 2WD 4C in Wisconsin.
    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!
  • kcbsmbkcbsmb Posts: 1
    Does anyone know the lease information for a Highlander Hybrid Ltd. for Rhode Island? Is it the same as the Boston area? I am getting different answers from different dealers. One special ended on 7/5, now I am not exactly sure of the numbers.
  • No problem, cidchris.

    Prices Paid Forum
  • Hi mokiavelli. I believe that San Diego is in Toyota's Los Angeles region. If you were to lease a non-Limited, non-Sport, non-Hybrid 2006 Toyota Highlander 2WD through Toyota Financial Services in that area right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00075 and 57%, respectively assuming that you qualify for its Tier 1+ credit tier. I would be happy to give you my opinion on the specific offer that you have received if you let me know what selling price it is based upon. This is a very important number to know when leasing because it shows you how much of a discount you are being given.

    Prices Paid Forum
  • Hi jmcmbz. Toyota Financial Services' current 36 month, 15,000 mile per year buy rate lease money factor and residual value for a base 2006 Highlander AWD are .00075 and 57%, respectively for consumers who qualify for its Tier 1+ credit tier. This truck's 12,000 mile per year residual value would be 2% higher.

    Prices Paid Forum
  • Hey mokiavelli. The money factor that you were given is right in line with Toyota Financial Services' buy rate for this model. The selling price that you were given looks good too. I'd say that you got a good deal.

    Prices Paid Forum
  • Hi Bill. The way that Toyota Financial Services calculated vehicles lease payments is not as straightforward as the method that most other banks use. TFS' published residual values are for base vehicles. It limits the options that can be residualized and places caps on the values on the ones that it allows. As a result, its residuals are often not as attractive as they initially disappear.

    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.

    Prices Paid Forum
  • Hello cidchris. If you were to lease a 2006 Toyota Highlander Hybrid 4WD (not the Limited model) through Toyota Financial Services in its Boston region right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00075 and 56%, respectively assuming that you qualify for its Tier 1+ credit tier.

    Prices Paid Forum
  • Greetings po10l. Toyota Financial Services' current buy rate lease money factor for this truck is .00075 in your area for consumers who qualify for its Tier 1+ credit tier.

    Prices Paid Forum
  • Yes, kcbsmb, I believe that Rhode Island is in Toyota's Boston region. If you were to lease a 2006 Toyota Highlander Hybrid Limited 4WD through Toyota Financial Services in your 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 55%, respectively assuming that you qualify for its Tier 1+ credit tier.

    Prices Paid Forum
  • laristondolaristondo Posts: 12
    Mr. Car-Man

    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.
  • dsluckidslucki Posts: 8
    Carman - I'm in Southern California and I've been offered the following on a Highlander Hybrid Limited 2WD with NAV:

    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.
  • cmw829cmw829 Posts: 19
    Just bought a 2006 HL 4WD w/ 3rd row seat with Option Pkg A - MSRP 30,929 for 26,640. We were offered a no-down pymt lease 36 mo. 15K/yr, 400 acquisition and 52% of full MSRP residual. MF was many zeros and a 1 (.00001% or thereabouts interest rate). Delivery tomorrow!

    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...
  • kenrosenkenrosen Posts: 5
    The lease sounds fine but you can get a 2wd from in Northern CA for 2k less. It might be worth the drive.
  • russotomrussotom Posts: 3
    I am interested in leasing a Highlander Hybrid with Package #1 and other equipment, sticker is $37,082, invoice is $32,991 and wholesale is $32,302.

    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.
  • 54325432 Posts: 4
    Can anyone tell me what the money factor and residual would be for a Highlander Hybrid 4WD in MN?
  • Hi

    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.

  • I would say that is quite high. You can negotiate the price of the vehicle to lower your payment. I got a 2WD w/o Nav for $365 including tax in San Diego. Includes GAP. You should be able to get about 3,500-4000 off MSRP.
  • Car-man,

    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
  • Can I re-negotiate the existing terms of a fully signed Lease Agreement? Do I try to re-negotiate the MSRP with the current dealership or TFS?

    Thanks again.
  • Russotom,

    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
This discussion has been closed.