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Toyota Highlander Lease Questions
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I was quote a cap cost of 43,700 with MF of .00137. 12,000 a year. This is in NY.
All taxes and fees in the lease except 1st and DMV.
At signing 993.24
Monthly 765.74
What do you guys think? Do you think May will be a better month for leasing this thing?
So why pay for a hybrid, pay less per month and over the term of the lease.
3 years / 12-K mi. per year
No money down / $315 per month (tax incl.) / $700 due at signing
$700 = 1st payment 315, adm fee 298, Reg/plate 87.
Hybrid gas consumed : 12,000 miles / 27 MPG = 444 GAL
Non-Hyb gas consumed : 12,000 miles / 18 MPG = 667 GAL
Money Saving on Gas per Year is between 669.00 to 725.00
equal to monthly lease payment of $62.00
667 GAL - 444 GAL = 223 GAL per year
223 GAL x $3.00 = $669.00
223 GAL x $3.25 = $725.00
SELL PRICE : 22,488
The deal is off due to trad-in problem.
I didn't even ask the residual because Toy dealer offered trade-in 15,000 on MSRP 26,000 ... 07 Honda Odyssey LX w/7,300 mi.
Can't believe Odyssey has a depreciation of 11,000 for just 9 months. They want to make a big profit on the ODY trade-in. Kelly Blue Book is 21,000
a) What kind of lease terms would be considered good for a highlander in this price range?
b) Should I haggle with the dealers about the price first, and then work out the lease, or just try and get lease terms that are acceptable to me. I am new to leasing and am unfamiliar with its nuances.
Any help and advice from other expiriences will be greatly appreciated.
Please provide delership and sales person if it is posible...
Thanka a bunch.
I have found this forum very helpful so I hope my experience helps:
Highlander Base 4x4 with options for an MSRP of $31,500
36 month
12 k mileage / year
GAP insurance
Purchased in PA but title, tax for NJ (do not buy in NJ they will not deal, I saved over $800 plus I got more options-- I was told in NJ you can't get a base model with a power driver seat--- simply not true!!!)
$200 down, $398 / month.
I'm pretty sure this is an amazing deal. I don't think I could have done any better. They "lost" money on this.
I contacted dealers in 4 different states to get this deal. The dealerships on the mainline outside of philadelphia were the best.
Good Luck!
Thanks
- B
Shopping Tool > Local Specials > Enter ZIP "GO" > MAY Special Offer on Left side, click Highlader - Lease > Can print out the offer
Lease a new 2008 Toyota Highlander for just $269.00 a month. 36-month closed end lease on Highlander model #6948. $1999.00 due at signing which includes first month’s payment of $269.00, acquisition fee of $550.00, customer capitalized cost reduction of $1,180.00, and security deposit of $0 with the following optional equipment: 50 State Emissions, Convenience Package, Cold Weather Package, Engine Immobilizer, Daytime Running Light Package. $25,442.00 adjusted capitalized cost assumes dealer participation, which may vary. MSRP $29,925.00 includes destination charge. 36 base monthly payments total $9,684.00. Your payment may vary depending on final price. Base monthly payments of $269.00 does not include tax. Taxes, license, title, insurance, regionally required equipment, and other dealer’s charges are extra, and are not included in the amounts shown. Lessee pays maintenance, excess wear and tear and $0.15 per mile charge for all mileage over 12,000 miles per year. Lease end purchase option $16,775.00. Program only available to customers with well qualified credit through Toyota Financial Services. Not all customers will qualify. Delivery must be taken from dealer stock by 6/2/2008 and is subject to availability. Customer's final payment may be higher or lower, depending on final transaction price. Offer cannot be combined with other special offers. See your participating Toyota Dealer for more details.
I found this post from Jan where you said you could get the exact TFS residual for a given VIN. Can you get me the (36m/12k mile per year) residual for JTEES42A782035658 ?
Thanks!
Car_man
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As far as this truck's residual values go, they vary by term, mileage allowance, and trim level so you are going to have to be more descriptive for us to give you an accurate idea of what they are right now. To be honest with you, Toyota Financial Services' residual value percentages are not that useful for consumers to know anyhow. This is because that TFS places restrictions upon which options can be residualized making it tough for anyone other than dealers to calculate models actual dollar residual values.
Car_man
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One dealer offered $477/month including tax, no money down for 48 mo, 12k mi/yr lease of Highlander Limited with options, no nav. This sounds pretty competitive. I would really like to be under $400/mo including tax and figured the Sport with leather may be a way to get there. Is it possible?
Also, we put very few miles on our car (20k on current 36 month lease ending this month) and would consider 10K miles/yr. Will this help lower the monthly payment enough to make a difference (assuming a dealer will offer it)?
Does that seem way too low? I'm in MA.
Thanks.
The residual was exactly the same - $19,974. Money factor is .00117 and payment is $599 per month.
I am in lower CT (NYC area).
So I think your price of $37,171 is good and the money factor is great (is this TFS or another lessor? Rates do vary by region so maybe they are better in MA), but how much do they want out-of-pocket? Be careful they don't try to add-on bogus fees.
Highlander for 289/mo with 3399 down.
Does not include tax, title, lic.
So that basically means I would have to come up with the 3399 plus say 2300 more? 5500+ out of pocket seems to be a bit much no??? Can I expect to do any better than this?
I want to do no or little out of pocket, so does that mean I will be paying 500 a month? Yikes
Thanks
For a car with a 40k MSRP, residual value has been quoted by one dealer at $19196 or about 48%, and another at $18564 or about 46.5%.
These are very, very low numbers and I can't seem to be able to negotiate them. I have never seen this before. Can anyone shed any light on this subject?
I've also been told that Toyota Finance does not include GAP insurance for its leases and was quoted $525. Sound right?
Also can the $550 aquisition fee be negotiated away or is it a must?
Toyota sets a different residual value on each vehicle based on it's options - it's not a set 50%, 55%, 68%, etc. like some manufacturers. Whatever residual value they are quoting is what they have - it's non-negotiable.
I've also been told that Toyota Finance does not include GAP insurance for its leases and was quoted $525. Sound right?
Yes, but negotiate that somewhere between $200 - $400.
Also can the $550 aquisition fee be negotiated away or is it a must?
No, this is a one time fee that goes to TFS for originating the lease. Dealers can and have been known to mark this up, so be sure that it stays at $550. You can pay it upfront or cap it into your lease payments.
MSRP: $ 27679.00
Sale price :$25350.00---cap cost w/acquisition fee: $25,945.00
36 months w/15000 miles yr.
money factor .00219
residual rate .48
monthly pymt. $377.17
up front money at time of signing :$393.67
I really like the deal, but my figures show that the payment should be closer to $420 before taxes. What gives?
Only $393.67 due at signing? Cheap registration in your state??
Thanks.
As was mentioned above, keep in mind that TFS places restrictions upon what options can be residualized and caps on the ones that it allows. This makes it difficult to calculate the actual dollar residual values for specific units from the percentages.
Car_man
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toyota guy would not give me a residual percentage but rather a dollar amount of 14,400 (decent). 36m 12K was around 394.00 with taxes with about 500.00-600.00 down. According to my calculations should be around 405.00-410.00 a month. Just outside of Philadelphia, so I am not sure either.
Any chance you have the current stats on the same car for Northern California/Bay Area?
Highlander Ltd, 2wd and/or awd, 36mo lease w/12k/yr miles.
Thanks much!
Cate
Interested in the current residual, money factor and any incentives on a lease in northern NJ for a 2008 Highlander 4WD at 36 months and 12,000 miles per year. Interested in the Limited andLimited Hybrid.
Many thanks.
What will happen to the residual values on the 08 highlander when the 09 hits the lots? Is that a number set by toyota based on the calendar or the year model.
Our 05 XC90 lease is up at the end of the month and because of the near zero money factor on the volvo lease we haven't been able to get as much SUV for our dollar.
I have been looking for deals but haven't seen a lot of promise on the pilot or highlander.
We're most likely going to extend the volvo in hopes that better deals come up as the end of the year approaches.
TFS' residual value for an otherwise identical lease of a 2008 Highlander Hybrid 4WD is 57%, but not surprisingly Toyota is not currently providing any lease support on it. That means if you lease a hybrid version through TFS, you will have to use its standard lease money factor. The last time that I saw it, TFS' standard was .00265 for Tier 1+ customers.
Car_man
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Car_man
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I live in San Diego and am interested in Highlander Limited 2WD or Sport 2WD, for 36 months at 12k or 15k per year. Is TFS running a similar money factor in my region on the 2008s? Should I wait for the 2009s?
Thanks!
Do you know the residual and MF for a 2008 Limited AWD in Colorad region?
Thank you very much!
I will be leasing or purchasing a 2008 Highlander LTD or Hybrid LTD on Sept. 20 in either Tuscaloosa, Ala. or Atlanta, Ga. Can you please provide me with TFS's third quarter money factor and residual for each assuming a 36 mo/12k lease term? Earlier in this forum I saw you posted a .00001 MF on the LTD but that seems too good to be true. Was that a typo?
I was also told by the dealer in Atlanta to expect a $3000 cash back incentive to be announced on Sept. 3, and was wondering if this applied to leases as well as cash/financing?
Thanks in advance.
MSRP: $42,350
My price: $39,537
Residual: $18,669
MF: .00001
Zero down, monthly payment (excludes taxes) is $642.
Question: Is this a good deal? And should I consider trying to get a lower price and buying instead?
Thanks!
I was just quoted by my local Toyota dealer:
2008 Highlander LTD 2WD:
36 mo/12k 43% resid., .00279 MF
48 mo/12k 37% resid., .00279 MF
2008 Highlander Hybrid LTD:
36 mo/12k 49% resid., .00279 MF
48 mo/12k 39% resid., .00279 MF
My calculation is as follows:
Depreciation = $20,868 / 36mths = $579.66/mth + 7% tax of 40.58 = 620 / mth. That's assuming MF is .00001.
If I can get Cap cost down to 37,000 or 37,500 would be happy. Will post results ... assuming don't go w/ an XC90.
I think that the dealer you spoke with was overly optimistic about the Highlander's cash incentives. According to the latest information that I have seen, Toyota is currently providing $1,500 customer cash on the '08 Highlander in your area in September.
Car_man
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Thanks for this forum. I am about to lease an 08 Highlander Limited. What is the current MF in FL for this vehicle? Are there any hidden costs I should be aware of?
Here are the specs on my vehcile:
Base: 32900
Options: 6198
Handling: 745
Options:
tow prep
rear a/c
Mats w/o SDAT
spoiler
heated seats
power rear door
sunroof
roadside assist
navigation
MSRP is $39,893, quoted MF is .00229 on 365 months
I think my sales price should be around $36,500, what do you think and what should I expect for a realistic MF?
2008 Highlander Base 4wd Option B
MSRP 31,655
Cap Cost 28,655
Residual 15,794
MF 0.00001
Inceptions/Fees/First month Payment: 1595
Monthly Payment:$361
Tax is $966, paid up front
So far the best deal I have been quoted. I am wondering if dealers are willing to go less than that on Cap Cost, According to Edmunds invoice on this car is 27854, so they make about 801 on the car plus their fees. Is it unreasonable given the low demand for SUV's now to get invoice pricing?