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Toyota Highlander Lease Questions

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Comments

  • mdl1mdl1 Posts: 2
    I am going to lease this car on Monday and need to know if it is a good deal.
    It is a Base HL with after factory added leather. All other options I think are standard-6 CD changer..no power seats-or 3rd row.

    Sticker is just over 29K (don't remember exact #)
    48mos/12K miles yr/2k down total which includes 1st month payment-tax-tags etc/$315 per mos includes tax and a 48 mos extended Toyota warranty.

    I need to stay close to $300 a month in monthly payments-so this is in my price range.
    Vin # JTEDS41A782027220

    It sounds good and I'll get into a car a really like--but is it a good deal?
    Any help or opinions would be greatly appreciated
  • mdl1mdl1 Posts: 2
    I am going to lease this car on Monday and need to know if it is a good deal.
    It is a Base HL with after factory added leather. All other options I think are standard-6 CD changer..no power seats-or 3rd row.

    Sticker is just over 29K (don't remember exact #)
    48mos/12K miles yr/2k down total which includes 1st month payment-tax-tags etc/$315 per mos includes tax and a 48 mos extended Toyota warranty.

    I need to stay close to $300 a month in monthly payments-so this is in my price range.
    Vin # JTEDS41A782027220

    It sounds good and I'll get into a car a really like--but is it a good deal?
    Any help or opinions would be greatly appreciated
  • insearchinsearch Posts: 22
    Omaha, NE

    New April 2008 Money Factors quoted for a 2008 Limited Highlander.

    Tier 1+ .00082
    Tier 1 .00092
    Tier 2 .00137

    He was unsure of residuals. Seems as though this is a large difference from last month? Lets get this forum going again and get some new lease quotes posted. I am currently working a deal on a limited with navigation, I will post the numbers once I receive them.
  • Actually, those residuals are much lower than last month's for Limited models. Most regions had nothing on Limited's as the rates hovered between .00235 - .00285.
  • insearchinsearch Posts: 22
    Here is a deal that a salesman quoted me on a deal he had just finished for another customer. He was to lazy to get another quote for me.

    Highlander Limited
    Sticker Price $40,409
    Selling Price $37,000

    $2,000 down (not sure what that included)
    3year / 36,000 Mile
    Tier 1+
    Money factor .00082
    Lease End Value $19,900
    $544 per month (which includes 7% tax)

    Another dealer quoted me:

    Limited
    $42,938 Sticker (includes NAV & DVD)
    $39,869 Selling Price
    Nothing out of pocket
    3Year / 36,000 Mile
    Tier 1+
    Money Factor .00082
    Lease End Value $20,247
    $650 per month (Which includes 7% tax)

    These still seem high even with the new lower money factors?
  • I've learned a lot fron this forum on leases, and I wanted everyones thoughts on if this is a decent deal. Here's what my option is:

    Sticker Says:
    2008 Highlander Lease
    Base model - $27300
    Convenience Package - roof rails, tonneau Cover - 240
    2 Row seats - -$740.00
    Carpet Mat/Cargo mats - $230
    Delivery - $685
    Upgraded Chrome rims package and Leather (2 Row Seating) - $2495
    ProPack Vehicle Theft (etching) - $299
    Door Guards - $89
    Total Sticker Price: $30598

    Lease Deal I have negotiated:

    36 mos, $406 with $500 total drive-off (includes first month payment)

    Details of the lease:
    Cap Value: 27626.68
    Money Factor: .00148 (3.5%APR)
    Residual Value: $16334 (54.54% of MSRP)

    How does this stack up with what others have seen? I'm in Ventura County, California (Close to LA)
  • motor2motor2 Posts: 3
    I have to do some more reading to learn what is what on lease deals. Local dealer here sent me this info:
    $4,140 residual enhancement - all teirs, 48 months
    money factor .00184
    $279/month for I assume a 'base' Base model (not a sport) though don't know for sure

    $2,465 residual enhancement - all teirs, 36 months
    money factor .00184
    $339/month for I assume a 'base' Base model (not a sport) though don't know for sure

    Currently have a 07 highlander limited hybrid with leather added (no sunroof nor nav).

    Can anyone tell me if this new offer which is good 4/1 through 4/21 is better or worst then what toyota has offered in prior months???
    Not really sure what precent a buyer is being charged with the money factor of .00184

    thanks
  • Sound like offers from the Southeast region.

    Residual enhancement means just that... an "inflated" residual. The numbers they posted are simply being added to a particular vehicle's "true" residual value. This is known as subventing/subsidizing the lease.

    All tiers means that (Tier 1+) through (Tier 3) qualify for this lease offer.

    .00184 = ~4.4%

    Since the inception of the new Highlander, only base and sport models have carried incentives, but for the month of april, we're now starting to see limited models being included.
  • insearchinsearch Posts: 22
    car man ,

    Any thoughts on some of the recent posts with the new April money factors? I think the residuals still seem to make this car very expensive to lease. What are your thoughts please?
  • mtnman1mtnman1 Central OhioPosts: 431
    I spoke with the salesman I've been dealing with this afternoon about the Residual Enhancement. He said they don't know anything about that here in Columbus Ohio. Has gotten nothing about that from Toyota. His money factor is .00137 or 3.29% and residual is 52%, Can someone please explain the different tiers that I see in this thread? I'm also considering a loaded Saturn Outlook. Their deal is a 63% Residual, but a high money factor of 6.25% or .0026.
    2012 Highlander Limited AWD V6 and 2015 Ford Fusion Hybrid SE
  • mtnman1mtnman1 Central OhioPosts: 431
    I asked this question in the prior post, but got no response. What part of the country is offering the residual enhancement? There is no such animal being offered in Ohio.
    2012 Highlander Limited AWD V6 and 2015 Ford Fusion Hybrid SE
  • It is most likely in the Southeast region. SET (southeast toyota) has their own independent finance entity and thus why you will typically see things not offered by TFS.
  • docvoxeldocvoxel Posts: 1
    I received a quote today on a Blizzard Pearl Hybrid Limited, loaded with a MSRP of 48,812.

    I was quote a cap cost of 43,700 with MF of .00137. 12,000 a year. This is in NY.

    All taxes and fees in the lease except 1st and DMV.

    At signing 993.24

    Monthly 765.74

    What do you guys think? Do you think May will be a better month for leasing this thing?
  • monkee08monkee08 Posts: 4
    Sounds like you got a great deal, I am shopping around for a similarly equipped 08 HL Sport, I would appreciate it if you could email your pricing info, Thanx!
  • insearchinsearch Posts: 22
    Could we PLEASE get some insight on the new deals in April. I have to buy a car this week and would really appreciate some of your thoughts on the current and possible future residuals and money factors. Thanks in advance.
  • Is it really possible to make up the premium you are paying on a hybrid during a lease period? From what I have read, it takes a long time (sometimes 5 years or more) to recoup the premium in gas mileage/ pump price savings.

    So why pay for a hybrid, pay less per month and over the term of the lease.
  • bigdadi118bigdadi118 Posts: 1,207
    08 Highlander Base 4x2, with PKGS of Day Time Light, Cold, Convenience.

    3 years / 12-K mi. per year

    No money down / $315 per month (tax incl.) / $700 due at signing
    $700 = 1st payment 315, adm fee 298, Reg/plate 87.
  • bigdadi118bigdadi118 Posts: 1,207
    The gas saving per year can be estimatted roughly as below, based on 12-K miles all city driving, saved 9 MPG (hybrid city: 27 - nonhybrid 4x2: 18)

    Hybrid gas consumed : 12,000 miles / 27 MPG = 444 GAL
    Non-Hyb gas consumed : 12,000 miles / 18 MPG = 667 GAL

    Money Saving on Gas per Year is between 669.00 to 725.00
    equal to monthly lease payment of $62.00
    667 GAL - 444 GAL = 223 GAL per year
    223 GAL x $3.00 = $669.00
    223 GAL x $3.25 = $725.00
  • Can you give us more details on this: what cap cost, residual and MF did they offer you? tnx
  • bigdadi118bigdadi118 Posts: 1,207
    MSRP : 27,965
    SELL PRICE : 22,488
    The deal is off due to trad-in problem.
    I didn't even ask the residual because Toy dealer offered trade-in 15,000 on MSRP 26,000 ... 07 Honda Odyssey LX w/7,300 mi.

    Can't believe Odyssey has a depreciation of 11,000 for just 9 months. They want to make a big profit on the ODY trade-in. Kelly Blue Book is 21,000
  • I am trolling dealers by email for a quote on '08 Highlander , Sport, 4x4, with leather and navigation. Most vehicles they have quoted are packaged with other options I don't really need, e.g. sunroof, tow package. In any case, I am being quoted an average price around $35,500 which is quite higher than Edmunds' TMV of about $34,800 and invoice of $33,545. I am hoping to lease rather than finance and my questions are:

    a) What kind of lease terms would be considered good for a highlander in this price range?
    b) Should I haggle with the dealers about the price first, and then work out the lease, or just try and get lease terms that are acceptable to me. I am new to leasing and am unfamiliar with its nuances.
  • svofan2svofan2 Posts: 442
    Hi, all, here I am again trying to find out what lease deals are available in the northern Nj area in leasing an 08 Highlander Limited with dvd and nav....These forums were very helpfull to me in getting a good lease on my 2008 Sienna Limited.
    Any help and advice from other expiriences will be greatly appreciated.
    Please provide delership and sales person if it is posible...
    Thanka a bunch.
  • Do NOT buy in NJ!!! See my deal below:

    I have found this forum very helpful so I hope my experience helps:

    Highlander Base 4x4 with options for an MSRP of $31,500
    36 month
    12 k mileage / year
    GAP insurance

    Purchased in PA but title, tax for NJ (do not buy in NJ they will not deal, I saved over $800 plus I got more options-- I was told in NJ you can't get a base model with a power driver seat--- simply not true!!!)

    $200 down, $398 / month.

    I'm pretty sure this is an amazing deal. I don't think I could have done any better. They "lost" money on this.

    I contacted dealers in 4 different states to get this deal. The dealerships on the mainline outside of philadelphia were the best.

    Good Luck!
  • bbutashbbutash Posts: 6
    Can anyone post the current MF and Residual for a 2008 Highlander Limited?

    Thanks

    - B
  • bigdadi118bigdadi118 Posts: 1,207
    from Manufacture www.toyota.com

    Shopping Tool > Local Specials > Enter ZIP "GO" > MAY Special Offer on Left side, click Highlader - Lease > Can print out the offer

    Lease a new 2008 Toyota Highlander for just $269.00 a month. 36-month closed end lease on Highlander model #6948. $1999.00 due at signing which includes first month’s payment of $269.00, acquisition fee of $550.00, customer capitalized cost reduction of $1,180.00, and security deposit of $0 with the following optional equipment: 50 State Emissions, Convenience Package, Cold Weather Package, Engine Immobilizer, Daytime Running Light Package. $25,442.00 adjusted capitalized cost assumes dealer participation, which may vary. MSRP $29,925.00 includes destination charge. 36 base monthly payments total $9,684.00. Your payment may vary depending on final price. Base monthly payments of $269.00 does not include tax. Taxes, license, title, insurance, regionally required equipment, and other dealer’s charges are extra, and are not included in the amounts shown. Lessee pays maintenance, excess wear and tear and $0.15 per mile charge for all mileage over 12,000 miles per year. Lease end purchase option $16,775.00. Program only available to customers with well qualified credit through Toyota Financial Services. Not all customers will qualify. Delivery must be taken from dealer stock by 6/2/2008 and is subject to availability. Customer's final payment may be higher or lower, depending on final transaction price. Offer cannot be combined with other special offers. See your participating Toyota Dealer for more details.
  • jmcclenahanjmcclenahan Posts: 15
    ocautoseeker,

    I found this post from Jan where you said you could get the exact TFS residual for a given VIN. Can you get me the (36m/12k mile per year) residual for JTEES42A782035658 ?

    Thanks!
  • Hi insearch. Toyota's lease program for the 2008 Highlander varies by region. In many areas, Toyota Financial Services' current buy rate for it is .00137 for consumers who qualify for its "Tier 1+" credit tier, but some areas have better rates than this. The lowest money factor that I have seen for this truck right now is .00067. If you let us know what state you are in, I am sure that either myself or another knowledgeable community member would be happy to try to give you an idea of what this vehicle's buy rate is in your neck of the woods.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi bbutash. Toyota's lease program for the 2008 Highlander varies by region. In many areas, Toyota Financial Services' current buy rate for it is .00137 for consumers who qualify for its "Tier 1+" credit tier, but some areas have better rates than this. The lowest money factor that I have seen for this truck right now is .00067. If you let us know what state you are in, I am sure that either myself or another knowledgeable community member would be happy to try to give you an idea of what this vehicle's buy rate is in your area.

    As far as this truck's residual values go, they vary by term, mileage allowance, and trim level so you are going to have to be more descriptive for us to give you an accurate idea of what they are right now. To be honest with you, Toyota Financial Services' residual value percentages are not that useful for consumers to know anyhow. This is because that TFS places restrictions upon which options can be residualized making it tough for anyone other than dealers to calculate models actual dollar residual values.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rrherrrrherr Posts: 1
    Thanks for all the great input. Can anyone post MF and residual value for HL Sport in Atlanta area. Looking for a lease, likely 48 months.

    One dealer offered $477/month including tax, no money down for 48 mo, 12k mi/yr lease of Highlander Limited with options, no nav. This sounds pretty competitive. I would really like to be under $400/mo including tax and figured the Sport with leather may be a way to get there. Is it possible?

    Also, we put very few miles on our car (20k on current 36 month lease ending this month) and would consider 10K miles/yr. Will this help lower the monthly payment enough to make a difference (assuming a dealer will offer it)?
  • dmilanidmilani Posts: 3
    I was quoted 37171.10 for a Limited with NAV (MSRP is 40816). I got Tier 1 MF of 0.00067, but the Residual for 36/12,000 is 19974.00.

    Does that seem way too low? I'm in MA.

    Thanks.
This discussion has been closed.