End of lease, trading for new lease

PAAes335

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.

Michaell

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.

PAAes335

Thanks- My Iocation is Maine USA, trim level: LE

Michaell

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

PAAes335

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.

Michaell

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.

PAAes335

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.

Michaell

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.

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