2021 Highlander Lease - is this a good lease ?

tinman1412

Hi - I see this advertised at my local dealer. Please let me know if this is a good deal and how much room I can negotiate

2021 Highlander L FWD
10,000 miles/yr
36 months
$232/mo with $2999 due at signing. Additional fees include doc fee $220 and acquisition fee of $695

Thanks in advance

Michaell

tinman1412 said:

Thanks - based on MSRP what would be a good selling price? . I would think somewhere at invoice would be good?

You can look here to research pricing:
https://www.edmunds.com/new-cars/

kyfdx

tinman1412 said:

Hi - I see this advertised at my local dealer. Please let me know if this is a good deal and how much room I can negotiate

2021 Highlander L FWD
10,000 miles/yr
36 months
$232/mo with $2999 due at signing. Additional fees include doc fee $220 and acquisition fee of $695

Thanks in advance

What is the MSRP?
Selling price?
Adjusted CAP cost?
Location?

Ads are not offers. Expect it to change, considerably

tinman1412

I’m new to leasing so apologies in advance.

MSRP is showing $40,774 on their ad.
Location is Detroit,MI

I don’t know selling price or adjusted Cap Cost. How do I get these?. Or is what I have above to say if this is a good or bad deal?.

Thanks

kyfdx

tinman1412 said:

I’m new to leasing so apologies in advance.

MSRP is showing $40,774 on their ad.
Location is Detroit,MI

I don’t know selling price or adjusted Cap Cost. How do I get these?. Or is what I have above to say if this is a good or bad deal?.

Thanks

When you get an actual offer from a dealer, ask for those numbers.

On the face of it, the ad looks like a good deal. Get an actual offer and see how close they come.

tinman1412

Thanks - based on MSRP what would be a good selling price? . I would think somewhere at invoice would be good?

tinman1412

Ok I have the residual value info. They won't give me the money factor. Here is the latest.

2021 Highlander L FWD
10,000 miles/yr
36 months
$232/mo with $2999 due at signing. Additional fees include doc fee $220 and acquisition fee of $695
MSRP: 36,563
Residual Value: $26,450

Please let me know your thoughts on this deal?

Thanks

Michaell

tinman1412 said:

Ok I have the residual value info. They won't give me the money factor. Here is the latest.

2021 Highlander L FWD
10,000 miles/yr
36 months
$232/mo with $2999 due at signing. Additional fees include doc fee $220 and acquisition fee of $695
MSRP: 36,563
Residual Value: $26,450

Please let me know your thoughts on this deal?

Thanks

That's a good deal.

tinman1412

Thanks. I realized I needed AWD and asked for sign-and-drive out price.

MSRP is $37,903 and residual is $26,153 with months payment at $320/mo.

Do you think this is still a good deal with the AWD option?

Michaell

tinman1412 said:

Thanks. I realized I needed AWD and asked for sign-and-drive out price.

MSRP is $37,903 and residual is $26,153 with months payment at $320/mo.

Do you think this is still a good deal with the AWD option?

How much, total, is due from you on that quote?

tinman1412

$0 due at signing.

Michaell

tinman1412 said:

$0 due at signing.

Nada, zip, zilch?

Take that deal and run.

tinman1412

Ok - I’m going to pull the trigger tomorrow.

Thanks for your help.

tinman1412

I forgot to ask another question. They are offering a optional “Wear and Tear” coverage for $750. Is this necessary? If yes is $750 a fair price to pay?

Thanks

Michaell

tinman1412 said:

I forgot to ask another question. They are offering a optional “Wear and Tear” coverage for $750. Is this necessary? If yes is $750 a fair price to pay?

Thanks

Skip it - if you take even average care of your vehicle, you won't need it.

Toyo777

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

Michaell

Toyo777 said:

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

What trim?
FWD or AWD?

I wouldn't start the lease using $3500 of trade equity.

Ask them for a copy of their lease worksheet.

Toyo777

Michaell said:

Toyo777 said:

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

What trim?
FWD or AWD?

I wouldn't start the lease using $3500 of trade equity.

Ask them for a copy of their lease worksheet.

AWD. Why not, it will cover the sales tax and keeps my payments lower. I get that cash is lost when the car is salavage, but otherwise I think it's fine.

Michaell

Toyo777 said:

Michaell said:

Toyo777 said:

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

What trim?
FWD or AWD?

I wouldn't start the lease using $3500 of trade equity.

Ask them for a copy of their lease worksheet.

AWD. Why not, it will cover the sales tax and keeps my payments lower. I get that cash is lost when the car is salavage, but otherwise I think it's fine.

What trim level?
What is the adjusted cap cost?
You pay sales tax on the monthly payment in CT, not up front.

I'd still ask for a copy of the lease worksheet.

Toyo777

Michaell said:

Toyo777 said:

Michaell said:

Toyo777 said:

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

What trim?
FWD or AWD?

I wouldn't start the lease using $3500 of trade equity.

Ask them for a copy of their lease worksheet.

AWD. Why not, it will cover the sales tax and keeps my payments lower. I get that cash is lost when the car is salavage, but otherwise I think it's fine.

What trim level?
What is the adjusted cap cost?
You pay sales tax on the monthly payment in CT, not up front.

I'd still ask for a copy of the lease worksheet.

Platinum with Remote start option.
I am only using the equity in a trade.
Yeah, I understand , I don't have a worksheet, that why I am asking here, thus should be enough information to determine if the numbers make sense.

Michaell

Toyo777 said:

Michaell said:

Toyo777 said:

Michaell said:

Toyo777 said:

Hi. I need help. The dealer in Connecticut is making a deal on a vehicle they do not have in stock:

MSRP $51K
Sale Price $47,000 ($1000 rebate included)
My trade in value is $12k and I owe $8500.
They told me it's going to be $526/m x 36m x 10k mil.
0 Down, I just give the my trade.

Are these number correct?

What trim?
FWD or AWD?

I wouldn't start the lease using $3500 of trade equity.

Ask them for a copy of their lease worksheet.

AWD. Why not, it will cover the sales tax and keeps my payments lower. I get that cash is lost when the car is salavage, but otherwise I think it's fine.

What trim level?
What is the adjusted cap cost?
You pay sales tax on the monthly payment in CT, not up front.

I'd still ask for a copy of the lease worksheet.

Platinum with Remote start option.
I am only using the equity in a trade.
Yeah, I understand , I don't have a worksheet, that why I am asking here, thus should be enough information to determine if the numbers make sense.

Are you putting in any cash beyond the trade equity?

Frankly, doesn't seem like that great of a deal with $3500 upfront.

The more information you can get from the dealer, the more we can help you.