lease deal

katie_reynolds

Is this a good lease deal? We live in zip code 35805.

2019 Toyota Highlander XLE AWD
Monthly payment $0
Down Payment $15,600

What should the residual value be? What should the end of the lease purchase amount be?
We will lose the downpayment of $15,600 if the car is totaled?

Michaell

katie_reynolds said:

Is this a good lease deal? We live in zip code 35805.

2019 Toyota Highlander XLE AWD
Monthly payment $0
Down Payment $15,600

What should the residual value be? What should the end of the lease purchase amount be?
We will lose the downpayment of $15,600 if the car is totaled?

What lease term and how many miles per year?

The residual is based on the MSRP - do you know what that is?

Did you negotiate a selling price below MSRP?

Was this all down payment, or was this a "one pay" lease? I suspect the latter, as I don't think you can do an all down payment structure to have a $0 monthly payment.

If this is a one pay lease, the money is held in escrow and paid monthly. In return, you should get a break on the money factor. Also, if the car is totaled or stolen, you will get the unpaid payments back from the escrow account.

katie_reynolds

36/15,000 miles for a total one payment of $15,600.
The MSRP is $42,509 but with with discounts and rebates is $37,059.00.
It is a one pay lease.

Is this a good deal?

katie_reynolds

We were told the residual value is $26,700.

Michaell

katie_reynolds said:

36/15,000 miles for a total one payment of $15,600.
The MSRP is $42,509 but with with discounts and rebates is $37,059.00.
It is a one pay lease.

Is this a good deal?

katie_reynolds said:

We were told the residual value is $26,700.

The base money factor is .00216, and the 36/15 residual is 65%

Because you live in the SouthEast Toyota region, I do not know what discount, if any, there would be to the money factor for the one-pay.

$433/mo looks to be an average deal, but if it's signed for and you've taken delivery, not much you can do about it now.

Congrats, however, on the new Highlander!

katie_reynolds

Thanks for your help!

We have not signed so we plan to negotiate for a better deal. Any advice would be appreciated.

Michaell

katie_reynolds said:

Thanks for your help!

We have not signed so we plan to negotiate for a better deal. Any advice would be appreciated.

Only way to improve it is to negotiate a lower selling price. Oh, and keep an eye out on the MF; dealers love to mark it up for extra profit.

ducati3

2019 Toyota Highlander Limited Platinum V6 AWD 93401 MSRP $49,433
36/15
Could you please provide me the MF/Resid and any incentives. Thanks!

Michaell

ducati3 said:

2019 Toyota Highlander Limited Platinum V6 AWD 93401 MSRP $49,433
36/15
Could you please provide me the MF/Resid and any incentives. Thanks!

.00270 and 58%
No lease incentives

Cinder1226

2019 Toyota Highlander SE
$40,000
10k/36months
zip code 60462
What is residual value?

Michaell

Cinder1226 said:

2019 Toyota Highlander SE
$40,000
10k/36months
zip code 60462
What is residual value?

FWD or AWD?