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Toyota Highlander Lease Questions
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it is a 4wd; local tax is 7.5%; title about $75.
Toyota is offering from 8/1 to 8/31 two (2) incentives:
Financing 2.9% for 36 month and Leasing monthly payment at $389 for 36 month term, w/ $2000 due at signing for a 2006 Hybrid AWD (model 6964) with option FE (aka Package 1).
HOW DO THESE 2 INCENTIVE WORK? CAN I GET BOTH? :confuse:
Humbly lost and awaiting clarity, linda
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Thank you for the info.
Ok, I understand now that Toyota is offering from 8/1 to 8/31 two (2) incentives: Financing 2.9% for 36 month and Leasing monthly payment at $389 for 36 month term, w/ $2000 due at signing for a 2006 Hybrid AWD (model 6964) with option FE (aka Package 1).
My main lease purpose is to keep my monthly payment as low as possible for 3 years and then buy the car.
What can expect the montly payment to cost on leasing being offered for a qualifying vehicle for a MSRP of $36,805, Invoice of $33,445, $2000 due at signing.
Can I get both incentives together?
Any hints on negoiating the terms of the lease would be extremely helpful!
Humbly lost and awaiting clarity, linda
I'm being offered the following deal in Minneapolis:
Highlander Hybrid AWD Limited
MSRP: 40,094
Selling Price: $36,939
Money Down: 4,000 for a trade in
Residual: 22,395
Money Factor: 0.00075
36 Month Lease, 12K miles
Payment of $405.22 (I believe that tax is 7%)
I come up with lower numbers when using lease calculators. What are your thoughts on this?
Thanks!
Highlander Hybrid AWD Limited
MSRP: 40,094
Selling Price: 36,939
Residual: 22,395
Money Factor: .00075
36 Month Lease, 12K miles
License and Fees: 467.75
Doc fee: 50
Taxes: 1,726.49
Money Due at Signing: $0
Payment: $520.54
Also, does anyone know who gets the tax incentive when you lease a hybrid? Is that something that we can claim?
I got the info from the following link:
http://www.hybridcars.com/tax-deductions-credits.html
It is under the heading 'basic rules' (third bullet):
"If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit."
There is also something about this on the IRS web-site (www.irs.gov). It says something similar, but the language is not clear.
http://www.irs.gov/newsroom/article/0,,id=157557,00.html
Even though a manufacturer has certified a vehicle, a taxpayer must meet the following requirements to qualify for the credit:
1. The vehicle must be placed in service after 12-31-05 and purchased on or before 12/31/10.
2. The original use of the vehicle must begin with the taxpayer claiming the credit.
a. The credit may only be claimed by the original owner of a new, qualifying, hybrid vehicle and does not apply to a used hybrid vehicle.
3. The vehicle must be acquired for use or lease by the taxpayer claiming the credit.
a. The credit is only available to the original purchaser of a qualifying hybrid vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.
b. For qualifying vehicles used by a tax-exempt entity, the person who sold the qualifying vehicle to the person or entity using the vehicle is eligible to claim the credit, but only if the seller clearly discloses in a document to the tax-exempt entity the amount of credit.
So, yesterday I signed a lease for a Highlander at Westchester Toyota, New York, and just want to verify if this is a decent deal:
V6, AWD, 3rd row, Leather package, Appearance package, Preferred package, Moonroof, Safety package, Fog lights, JBL stereo and a few other things. MSRP was around $35,000.
Leasing rate is $399 / month, with $0 down for 36 months, 12,000 miles/year.
I looked again at Toyota web site and saw there is $1,250 cash back available. I'm a bit unclear if I'm entitled to, it wasn't mentioned when I spoke to the sales guy (Note: My vehicle is on order as they didn't have the color combination I wanted, so the final paperwork signing with the finance guy is still to come).
I would appreciate your feedback.
I'm being offered the following deal in SE Pennsylvania:
Highlander Hybrid 2WD
MSRP: 37,000
Selling Price: $32,956
Money Down: $800
Residual: ?
Money Factor: 0.0008
36 Month Lease, 12K miles
Payment of $475
What are your thoughts on this?
Thanks!
The current lease deal being offered on the Highlander is a subsidized lease by Toyota Financial Services. It is basically a 0.0% lease similar to a 0% loan. If you were to take the loan, . . . you would not get the rebate, . . . so it is the same for the lease (provided the loan/lease deals goes through TFS). If you read the offer, . . . I believe it says ". . . rebate, . . . or 0% loan, . . . or lease".
As for the lease, . . . you should see a 'money factor' that is very low (I got 0.00001 in MA) in the disclosure. This would indicate that it is the special TFS lease for the HL (basically 0.024% on the lease money in my case). If you have a much higher money factor, . . . then you should dig much deeper. If they used a 3rd party lease provider, . . . then the rebate would apply just like if you bought the car and used a 3rd party financial institution for the loan (like a credit union).
Lease Details
If you lease through TFS a HL from a dealer, does this count as a "sale" of the vehicle and do the dealers get the holdback and any other incentives as if it was a "purchase".
I ask because if this is the case, then the base cap cost of the vehicle should be what the dealership is willing to "sell" the vehicle for. Thus, if a dealer lists a sales price for the HL (not including rebate) on the internet, this should be the cap cost.
Am I correct or is there something else going on in the background?
Thanks for your help
However, when I told them what options I wanted such as leather they said I could only get it on the Limited which are running about $37,000. Then I test drove one that listed for $32,000 (with a sunroom and the third seat which I don't want) and I thought the pick-up was weak and there was significant noise from under the vehicle, sounded like the transmission was struggling or the engine was rough. This was a 6 cylinder with 187 miles on it. Can't imagine driving a four cylinder.
It was pouring out and they said that was the reason for the noise so I may go back on a sunny day and drive another one. Any comments anyone? I will post this on some of the other Forums here also. :confuse:
Thanks in advance!
I would call a dealer and ask what the lease Money Factor is for what you are interested. They should tell you, . . . in my area, it was the same at all the dealers (subsidized lease program direct from Toyota Finanical Services). Price (base capitalized cost), however, was very different and you will still need to negotiate that.
Good luck!
which included tax & licensing. Is there a better leasing deal than
that out there? Is it possible to get a navigation system included
for that price or even less? If you have any thoughts about this
please respond to this post. Thank you.
Desperate for a highlander
Trying to help my father-in-law with a lease ('06 leftover).
Here is what I know: $32,960 MSRP, $27,130 Selling Price
The dealer told him the payemnt will be around $350/mo for 36 months, 12000 miles, & $0 down. Nothing in writing.
What is the residual & money factor for this car? How can I find out so that he can use a lease calculator.
Thanks!
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I want to lease a basic Highlander, I just wonder what is current TFS leas programs (36 m/12K/year/ California) and if I should wait 2-3 months till new models coming and price of '07 going down?
Thanks,
Tom
I personally don't think that you have much to gain by waiting a month or two to lease your Highlander. Toyota's special lease program on it hasn't changed in a while and I do not personally anticipate it being enhanced in the next month or two. Plus in a competitive market like California one can probably get an '07 Highlander for pretty close to dealer invoice already. As a disclaimer, it is difficult to predict exactly what manufacturers will do with their future incentive programs with 100% accuracy .
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I recently entertained the idea of purchasing a 2007 Toyota Camry Hybrid (can't beat those mpgs!) but realized between carrying around all my work gear, the trips to Costco and the weekend camping trips for Scouting that the 10 cu. ft of trunk space wouldn't do it! I would like to lease the 2007 THH Limited w/3rd including leather, navigation, moonroof for 24-36 months since the new THH version is due Fall 2007 (I'll let them work out the bugs!). What I would like to know is how is Toyota Financial Services for a leasing company (I've only dealt with BMWFS) and should I immediately disclose that I'll be leasing or should I negotiate for the lowest price first and then tell them I'll be leasing? I know that the invoice w/options is $33,835 and the MSRP is $37,795. I also know that these prices include a 3% markup due to Holdback (2%) and Wholesale financial reserve (1%). My taxable rate is 6.75% Kendall County (IL) Would it be in my best interest to lease with the intent of turning it in for the newer model or to purchase and hopefully trade-in or sell in 2-3 yrs. My credit score is excellent and my financing options are 4.5-5.6% APR. I see that I could also be eligible for 1.9% or $1500 rebate cash to customer. Have you heard of James Bragg and fightingchance.com ? :surprise: Can you give me a breakdown of the lease (money factor, etc.). Thank you for your attention to this matter. I look forward to your reply.
:surprise:
There's nothing wrong with telling the dealer that you are working with that you want to lease your new Highlander, jut make sure that you negotiate the lowest possible selling price on it rather than letting the dealer try to get you to focus on just the payment.
Toyota Financial Services' lease program varies by region. I have not seen its specific program for its Chicago region recently, but in most areas its buy rate lease money factor for the 2007 Highlander Hybrid is .00175 for consumers who qualify for its "Tier 1+" credit tier.
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Could you please provide current lease programs in New England for Limited 4WD, loaded including navigation. MSRP is 42k and change. 48 month lease, 12k/year (my father in law insists on 48 month lease even though I have advised him against a lease that long). Dealer quoted $34,500 for purchase but the lease payments they are quoting are rediculous; $500-$600/month. Are residuals for 48 months that low?
Thanks a million.
On Saturday my salesman calls me up and says the GM of the dealer caught my sale and says I can't have the HL for the agreed on deal. He says the lease rates changed and I need to agree with $20/m more. Needless to say I'm upset. I have never had a dealer once a signed agreemnent was made back out of a deal.
I expressed my disgust and the salesman said he would look into it again and call me back. I never heard back from him again.
any comments on this out there?
Green
Packages:
EJ, FE, NE, PE, RL, VP, CF and two after factory add-ons that listed for a total of $715 on the sticker.
MSRP 29909
Invoice 27043
Price 27500 Buy or Lease
Lease Terms:
Money Factor .00185
Residual: 49% ( I found out the Highland has the lowest residual of all Toyota's SUV Line. I was hoping for at least 55%).
No Cap. Cost Reduction
Lease Monthly Cost: $434.86
Did not take offer. Felt I could have gotten a Pilot with more features (leather and such) for a better price. I was looking for a great deal on the last 07 Highlander on the lot, 31st of the month, end of model year and a very wet day in Louisiana.
Might kick myself in the morning. I was really surprise at the 49% residual factor.
Aug 1. Looked at another Highlander minus the sunroof and upgraded CD player.
Residual dropped to 47.5%.
Went with the Honda Pilot.
36 mo. / 15K miles
Thanks,
Bo.
Bo.
No NAV or Entertainment package....where should I be with a value on this vehicle? Silver Metallic...also what MF and residual should I use.
Thanks,
TFS' current buy 36 month, 15,000 mile per year residual value for the 2008 Highlander Limited or Sport 4WD is 58%. Keep in mind though that unlike most banks, Toyota only publishes residual values for base vehicles. It places restrictions upon what options can be residualized. This makes calculating actual dollar residual values for Toyota models difficult, so much so that it provides its dealers with actual dollar residual values for the vehicles that they have in stock rather than having them use the residual percentages to calculate them.
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