2015 Toyota Highlander Lease Questions

temjeito · July 2015

Hi, I'm looking for MF and residual for a 2015 LE AWD in MA, 36/12. Thanks!

Michaell · July 2015

temjeito said:
Hi, I'm looking for MF and residual for a 2015 LE AWD in MA, 36/12. Thanks!

69% and .00170

temjeito · July 2015

Michaell said:

temjeito said:
Hi, I'm looking for MF and residual for a 2015 LE AWD in MA, 36/12. Thanks!
69% and .00170

So...

My wife just leased this car, and they used a residual of 69%, but by my calculations the money factor was .0612 (gross capitalized cost = $32,158.81; residual = $22,446.00; rent charge= $3334.51), or 147% APR. Can that possibly be right (or legal)?

kyfdx · July 2015

temjeito said:

Michaell said:

temjeito said:
Hi, I'm looking for MF and residual for a 2015 LE AWD in MA, 36/12. Thanks!
69% and .00170
So...

My wife just leased this car, and they used a residual of 69%, but by my calculations the money factor was .0612 (gross capitalized cost = $32,158.81; residual = $22,446.00; rent charge= $3334.51), or 147% APR. Can that possibly be right (or legal)?

Your amount financed is not the difference between the CAP cost and residual, it's the average of the CAP cost and residual... (also, it's for three years, so don't forget to divide the $3334 by 3, if you are trying to estimate an APR)

temjeito · July 2015

Sorry, I don't follow. Here's what I get when I use your numbers:

MSRP $32,530.00
agreed value $31,508.81
ccr -$119.00
acquisition fee $650.00
gross capitalized cost $32,039.81
Residual (%) 0.69
Residual ($) $22,445.70
dep & amort $9,594.11
money factor 0.0017
APR (%) 4.08
Rent $92.63
total base $9,686.74
Lease term 36
base monthly $269.08
tax $16.82
total monthly $285.89

But on my wife's lease, the Rent is $3334, leading to a monthly of $100 more. Everything else is the same.

temjeito · July 2015

Never mind. I didn't realize the rent number was monthly. Math is not my strong suit.

kyfdx · July 2015

temjeito said:
Sorry, I don't follow. Here's what I get when I use your numbers:

MSRP $32,530.00
agreed value $31,508.81
ccr -$119.00
acquisition fee $650.00
gross capitalized cost $32,039.81
Residual (%) 0.69
Residual ($) $22,445.70
dep & amort $9,594.11
money factor 0.0017
APR (%) 4.08
Rent $92.63
total base $9,686.74
Lease term 36
base monthly $269.08
tax $16.82
total monthly $285.89

But on my wife's lease, the Rent is $3334, leading to a monthly of $100 more. Everything else is the same.

Rent charge is $92.63 per month, not just $92.63...

john420 · July 2015

2015 Toyota Highlander XLE AWD 36/12 or 36/15 NJ.

john420 · July 2015

Residual and money factor for the above.
Thanks

Michaell · July 2015

john420 said:

2015 Toyota Highlander XLE AWD 36/12 or 36/15 NJ.

john420 said:

Residual and money factor for the above. Thanks

.00170 and 66% for 36/15. Add 2% for 12k

SehKonNJdude · July 2015

You can lease a QX60 ($51225) MSRP for $515/month(7% NJ tax) 39,months 12k miles with only 1500 out of pocket in NYC - NJ area so why on earth would you pay the same for a Highlander?

jim31322 said:
I'm in NY state and I'm not getting the MF and residual listed above.

Here's the 3 year/12k mi/yr lease offer I have:

XLT AWD w/ 2nd Row Captain's Seats and Tow Hitch
MSRP = $39,335
Adjusted price with $599.99 tow hitch = $37,729
Plus doc fee, 7% sales tax, and non-tax fees = $38,768.91

Residual = $25,806 (66%?)
Money Factor (Tier 1+) = .0018

$505 down
$506/month

Is this a good deal? Why don't the residual and MF match what's listed above?

Thanks!

Michaell · July 2015

SehKonNJdude said:
You can lease a QX60 ($51225) MSRP for $515/month(7% NJ tax) 39,months 12k miles with only 1500 out of pocket in NYC - NJ area so why on earth would you pay the same for a Highlander?

jim31322 said:
I'm in NY state and I'm not getting the MF and residual listed above.

Here's the 3 year/12k mi/yr lease offer I have:

XLT AWD w/ 2nd Row Captain's Seats and Tow Hitch
MSRP = $39,335
Adjusted price with $599.99 tow hitch = $37,729
Plus doc fee, 7% sales tax, and non-tax fees = $38,768.91

Residual = $25,806 (66%?)
Money Factor (Tier 1+) = .0018

$505 down
$506/month

Is this a good deal? Why don't the residual and MF match what's listed above?

Thanks!

No Infiniti dealers close by?

Preference for Toyota?

Lots of reasons why folks choose the cars they do .. and some of them may have nothing to do with price.

tjohnstone3 · July 2015

Curious to know the mf and residual on a 2015 Limited (and Limited Platinum) in Des Moines, IA. Thx

tjohnstone3 · July 2015

AWD on the above

Michaell · August 2015

tjohnstone3 said:
Curious to know the mf and residual on a 2015 Limited (and Limited Platinum) in Des Moines, IA. Thx

tjohnstone3 said:
AWD on the above

MF is .00170. What lease term and how many miles per year are you looking for?

tjohnstone3 · August 2015

Michaell said:

tjohnstone3 said:
Curious to know the mf and residual on a 2015 Limited (and Limited Platinum) in Des Moines, IA. Thx

tjohnstone3 said:
AWD on the above
MF is .00170. What lease term and how many miles per year are you looking for?

Sorry, 36 month and 15k miles. Thanks!

Michaell · August 2015

tjohnstone3 said:

Michaell said:

tjohnstone3 said:
Curious to know the mf and residual on a 2015 Limited (and Limited Platinum) in Des Moines, IA. Thx

tjohnstone3 said:
AWD on the above
MF is .00170. What lease term and how many miles per year are you looking for?
Sorry, 36 month and 15k miles. Thanks!

I'll assume AWD since you are in Iowa.

Limited - 63%
Limited Platinum - 61%

bsyah · August 2015

Could I please have the MF and Residual for a 2015 Limited Platinum AWD in NY for 36 mo/15k?

Thanks

bsyah · August 2015

Sorry could I also get the MF and Residual for a 2015 Limited Platinum AWD in NY for 24 mo/15k?

Michaell · August 2015

bsyah said:
Could I please have the MF and Residual for a 2015 Limited Platinum AWD in NY for 36 mo/15k?

Thanks

bsyah said:
Sorry could I also get the MF and Residual for a 2015 Limited Platinum AWD in NY for 24 mo/15k?

.00170 MF for both lease terms

24/15 residual - 70%

36/15 residual - 61%

bsyah · August 2015

Michaell said:

bsyah said:
Could I please have the MF and Residual for a 2015 Limited Platinum AWD in NY for 36 mo/15k?

Thanks

bsyah said:
Sorry could I also get the MF and Residual for a 2015 Limited Platinum AWD in NY for 24 mo/15k?
.00170 MF for both lease terms

24/15 residual - 70%

36/15 residual - 61%

Thank you!

harrisrydal · August 2015

Looking for the MF and Residual on all three models at 36/12 and AWD. LE Plus, XLE, and Limited

Michaell · August 2015

harrisrydal said:
Looking for the MF and Residual on all three models at 36/12 and AWD. LE Plus, XLE, and Limited

.00170 MF

LE Plus - 67%

XLE - 68%

Limited - 65%

dms99 · August 2015

Looking for theMF and residual on the XLE FWD for southern Southern California for 36/12.

Michaell · August 2015

dms99 said:
Looking for theMF and residual on the XLE FWD for southern Southern California for 36/12.

.00170 and 67%

kck10 · August 2015

How does the RV and MF of the Higlander 2015 XLE AWD compare to the Honda Pilot 2016 EX-L AWD?

kck10 · August 2015

kck10 said:
How does the RV and MF of the Higlander 2015 XLE AWD compare to the Honda Pilot 2016 EX-L AWD?

And I am in PA if this matters

Michaell · August 2015

kck10 said:

kck10 said:
How does the RV and MF of the Higlander 2015 XLE AWD compare to the Honda Pilot 2016 EX-L AWD?
And I am in PA if this matters

What lease term and how many miles per year?

.00170 MF for the Highlander

kck10 · August 2015

36 months and 12k . Thanks!

kyfdx · August 2015

kck10 said:
36 months and 12k . Thanks!

68% residual

strubes3 · August 2015

Ok. I'm totally new here. Looking at highlander XLE in NJ. MSRP 40000. Trading in minivan for blue book trade in value of 7800. Lease term of 36/12. MF of .0017 and residual of 68%. Working these numbers I am getting a depreciation payment of $140 + $101 from the MF plus NJ 7% sales tax for a total monthly payment of $258? Is that correct? Seems pretty low to me or is it because I am putting almost $8k down?

robert_r1 · August 2015

I am looking for monthly lease payments on 2015 XLE with MSRP of 38169 and sale price of 35,000. 12k / 15k for 24 and 36 months. Thank you

robert_r1 · August 2015

I am in texas. Zero DP.

Michaell · August 2015

strubes3 said:
Ok. I'm totally new here. Looking at highlander XLE in NJ. MSRP 40000. Trading in minivan for blue book trade in value of 7800. Lease term of 36/12. MF of .0017 and residual of 68%. Working these numbers I am getting a depreciation payment of $140 + $101 from the MF plus NJ 7% sales tax for a total monthly payment of $258? Is that correct? Seems pretty low to me or is it because I am putting almost $8k down?

Yeah, the $8000 down is knocking off over $200/mo.

We do not recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money. Instead, have the dealer cut you a check for the trade equity and use that money to help with your monthly payment.

Michaell · August 2015

robert_r1 said:
I am looking for monthly lease payments on 2015 XLE with MSRP of 38169 and sale price of 35,000. 12k / 15k for 24 and 36 months. Thank you

robert_r1 said:
I am in texas. Zero DP.

FWD?

.00170 and 74% for 24/15 and 65% for 36/15. Add 2% for 12K.

Using your MSRP and selling price, I calculate a pre-tax payment of $389/mo for 24 months or $385/mo for 36 months - both are with 15K miles per year.

Be advised that Texas assesses sales tax against the entire selling price of the vehicle.

jmr14 · August 2015

I recently made a deal which has not been completed on a 2015 Highhlander LE Plus. 3000 down at 309 a month before taxes. The msrp is 35,800. The residual value is 24000 which seems high to me. It is a 36 month 12k per year lease. When I asked about high residual value for purchase the sales manager stated toyota charges 2700 dollars finance or interest charge. From what I can see other makes don't do this on a lease. I live in Pennsylvania. This puts cost if I purchase the vehicle at well over 38000 I am more concerned about not having any equity moving into another lease or paying so much over sticker at term end if I decided to purchase. Is toyota known for charging this extra fee, or maybe because they know it would sell anyways so that fee covers less money coming in initially due to lease special?

Michaell · August 2015

jmr14 said:
I recently made a deal which has not been completed on a 2015 Highhlander LE Plus. 3000 down at 309 a month before taxes. The msrp is 35,800. The residual value is 24000 which seems high to me. It is a 36 month 12k per year lease. When I asked about high residual value for purchase the sales manager stated toyota charges 2700 dollars finance or interest charge. From what I can see other makes don't do this on a lease. I live in Pennsylvania. This puts cost if I purchase the vehicle at well over 38000 I am more concerned about not having any equity moving into another lease or paying so much over sticker at term end if I decided to purchase. Is toyota known for charging this extra fee, or maybe because they know it would sell anyways so that fee covers less money coming in initially due to lease special?

The MF on the Highlander is quite high - .00170, or just over 4%. The residual on the LE Plus is either 66% (FWD) or 67% (AWD) - also pretty high.

We do not recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money.

Leases are not structured for you to have equity in them at the end; you pay for what you use during the lease term - no more, no less.

What is the selling price?

jmr14 · August 2015

33550. I put the 3k down per advertised lease to get 309 monthly rent. How much higher would payment be with 0 down? Thanks!

Michaell · August 2015

jmr14 said:
33550. I put the 3k down per advertised lease to get 309 monthly rent. How much higher would payment be with 0 down? Thanks!

$84/mo

dwill2 · August 2015

Can I please get MF and residual for 2015 Limited Platinum and 2015 Hybrid Limited Platinum on a 36 month/12,000 mile lease? Thanks.

Michaell · August 2015

dwill2 said:
Can I please get MF and residual for 2015 Limited Platinum and 2015 Hybrid Limited Platinum on a 36 month/12,000 mile lease? Thanks.

.00170 MF and 63% for both

koctailz · August 2015

what is the lowest mileage increment for a lease with Toyota? my wife drives less than 10k/year. More like 7k/yr.

Michaell · August 2015

koctailz said:
what is the lowest mileage increment for a lease with Toyota? my wife drives less than 10k/year. More like 7k/yr.

Not 100% certain that Toyota offers 10K per year leases; could be a regional offering. I know 12k is available.

idocwalt · August 2015

HI, looking at Highlander LE Plus in NY (Long Island). Told of high demand, low inventory.
Quoted possible $425/month for 36/12k, $0 cap cost reduction. Decent? Did not get the "sales price"/MF/residual yet, going back tomorrow for more info.
Can you give e current residual/MF numbers?

kyfdx · August 2015

idocwalt said:
HI, looking at Highlander LE Plus in NY (Long Island). Told of high demand, low inventory.
Quoted possible $425/month for 36/12k, $0 cap cost reduction. Decent? Did not get the "sales price"/MF/residual yet, going back tomorrow for more info.
Can you give e current residual/MF numbers?

.00170 MF and 67% residual.

trentster · August 2015

So we are looking at a trade lease deal. Trade value is $4k, leasing Highlander XLE AWD on a 24mo lease, 12k miles, at $243/mo tax included. $37,074 discounted price. We live in Indiana. What should I know regarding MF and residual when looking at this deal? Other than payment difference, is there an advantage of 24 vs. 36mo at the end of the lease? Thanks!

Michaell · August 2015

trentster said:
So we are looking at a trade lease deal. Trade value is $4k, leasing Highlander XLE AWD on a 24mo lease, 12k miles, at $243/mo tax included. $37,074 discounted price. We live in Indiana. What should I know regarding MF and residual when looking at this deal? Other than payment difference, is there an advantage of 24 vs. 36mo at the end of the lease? Thanks!

.00170 MF and 77% for 24/12. 68% for 36/12.

We do not recommend using trade equity as a down payment - if the car is stolen or totaled, you lose that money.

You'd have to run the numbers on 24 v. 36 months - no difference that I'm aware of at lease end.

trentster · August 2015

Michaell said:

trentster said:
So we are looking at a trade lease deal. Trade value is $4k, leasing Highlander XLE AWD on a 24mo lease, 12k miles, at $243/mo tax included. $37,074 discounted price. We live in Indiana. What should I know regarding MF and residual when looking at this deal? Other than payment difference, is there an advantage of 24 vs. 36mo at the end of the lease? Thanks!
.00170 MF and 77% for 24/12. 68% for 36/12.

We do not recommend using trade equity as a down payment - if the car is stolen or totaled, you lose that money.

You'd have to run the numbers on 24 v. 36 months - no difference that I'm aware of at lease end.

Thanks, so do I want to make sure they are using this MF and residual that you post? I am new to this MF and residual lease component.

Michaell · August 2015

trentster said:

Michaell said:

trentster said:
So we are looking at a trade lease deal. Trade value is $4k, leasing Highlander XLE AWD on a 24mo lease, 12k miles, at $243/mo tax included. $37,074 discounted price. We live in Indiana. What should I know regarding MF and residual when looking at this deal? Other than payment difference, is there an advantage of 24 vs. 36mo at the end of the lease? Thanks!
.00170 MF and 77% for 24/12. 68% for 36/12.

We do not recommend using trade equity as a down payment - if the car is stolen or totaled, you lose that money.

You'd have to run the numbers on 24 v. 36 months - no difference that I'm aware of at lease end.
Thanks, so do I want to make sure they are using this MF and residual that you post? I am new to this MF and residual lease component.

Residual is set by the bank and cannot be altered; MF can be marked up by the dealer. Tell them you won't sign a deal with a marked up MF.

idocwalt · August 2015

Looking at LE Plus. 36mo/12k lease. Went to 3 LI dealers. First one quoted $425/mo, assuming tier 1+ credit, before taxes, but had to be the one in stock, going fast. Didn't care for the Ash interior, too light a color with kids, coffee, etc. Second dealer, none in stock, we'll locate one or order your color from the factory. $0 down, taxes included, Can't go lower than $429 again assuming tier 1+. third dealer, one in stock, 6 coming in(not all LE Plus) tomorrow (Saturday). Best price $434 again assuming 1+. I know we're not 1+, but let's see.
2 or 3 sold before we even made the deal! Took a black/black LE Plus, with $1297 worth of factory options (Roof crossbars, cargo cover, body molding, door edge guards, and rear bumper plate - chrome), bumped to tier 1, at $454/mo. Love the car, any thoughts?

2015 Toyota Highlander Lease Questions

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