End of lease, trading for new lease

PAAes335PAAes335 Member Posts: 4
edited May 2021 in Toyota
Hi- new member to the forum, my son highly recommended it. I have a lease expiring at the end of the month on 2018 Highlander. I'm thinking of leasing a 2021 Highlander, the 2018 has 27K miles, I'm under the mileage (12K/yr-3 yrs) Wondering what I might expect for lease deal on the 2021.

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  • MichaellMichaell Moderator Posts: 251,966
    PAAes335 said:

    Hi- new member to the forum, my son highly recommended it. I have a lease expiring at the end of the month on 2018 Highlander. I'm thinking of leasing a 2021 Highlander, the 2018 has 27K miles, I'm under the mileage (12K/yr-3 yrs) Wondering what I might expect for lease deal on the 2021.

    A few questions:
    What is your location?
    What trim level for the 2021 Highlander?

    You should get quotes from Vroom, Carvana and CarMax for your 2018 Highlander.

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    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • PAAes335PAAes335 Member Posts: 4
    Thanks- My Iocation is Maine USA, trim level: LE
  • MichaellMichaell Moderator Posts: 251,966
    Michaell said:

    PAAes335 said:

    Hi- new member to the forum, my son highly recommended it. I have a lease expiring at the end of the month on 2018 Highlander. I'm thinking of leasing a 2021 Highlander, the 2018 has 27K miles, I'm under the mileage (12K/yr-3 yrs) Wondering what I might expect for lease deal on the 2021.

    A few questions:
    What is your location?
    What trim level for the 2021 Highlander?

    You should get quotes from Vroom, Carvana and CarMax for your 2018 Highlander.
    36/12
    2021 Highlander LE AWD
    .00089 and 64%
    No incentives

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • PAAes335PAAes335 Member Posts: 4
    Hi- I have a lease expiring this week on 2018 Highlander LE. I'm thinking of leasing a 2021 Highlander, the 2018 has 28K miles, I'm under the mileage (12K/yr-3 yrs) Wondering what I might expect for lease deal on the 2021. Location is Maine USA
    Please note this is an update of an earlier post back in May, I ended up extending the current lease.
  • MichaellMichaell Moderator Posts: 251,966
    PAAes335 said:

    Hi- I have a lease expiring this week on 2018 Highlander LE. I'm thinking of leasing a 2021 Highlander, the 2018 has 28K miles, I'm under the mileage (12K/yr-3 yrs) Wondering what I might expect for lease deal on the 2021. Location is Maine USA
    Please note this is an update of an earlier post back in May, I ended up extending the current lease.

    You've picked the wrong time to replace your lease.

    What trim level are you looking at for the 2021?

    Have you contacted Carvana, Vroom or CarMax to determine the value of your 2018? You might have more equity in it than you think.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • PAAes335PAAes335 Member Posts: 4
    The 2021 would be LE AWD, I did check Carvana, Vroom on the 2018 and got $27K-$28K for value.
    Tell me why it's wrong time to replace the lease? I know inventories are pathetic at least where I am.
    A local dealer offered new lease on 2021 Highlander LE AWD, list at $40K would take about $4K off that but that's over the phone so not sure what they'll offer for tradein value yet. They also mentioned putting $3K in to make payment lower, I ain't cool parting with funds on a lease deal.
  • MichaellMichaell Moderator Posts: 251,966
    PAAes335 said:

    The 2021 would be LE AWD, I did check Carvana, Vroom on the 2018 and got $27K-$28K for value.
    Tell me why it's wrong time to replace the lease? I know inventories are pathetic at least where I am.
    A local dealer offered new lease on 2021 Highlander LE AWD, list at $40K would take about $4K off that but that's over the phone so not sure what they'll offer for tradein value yet. They also mentioned putting $3K in to make payment lower, I ain't cool parting with funds on a lease deal.

    Low inventory gives the dealer the advantage in negotiations, so payment quotes are much higher.

    We don't track pricing; use the Price Checker link below.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

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