ok finalize our deal... here are the rough numbers. New York Lease 2017 Highlander SE w/ winter matts First payment down 3years/36k $394 a month (includes Taxes, GAP + EWU) Our first lease so for $360 we took the EWU--- with no money down $172 for GAP was a no brainer.
Can get more specific numbers if it helps anyone.
@nemo104 Yes, would you please provide the specific numbers? Yours are close to what I've been seeing for an XLE which has an MSRP ~$2500 lower. Thanks!
Hello, can you please post MF and Residual for Toyota Highlander XLE in NJ ? I am looking for 24 and 36 months 15000 miles per year. Thanks in advance.
Hello, can you please post MF and Residual for Toyota Highlander XLE in NJ ? I am looking for 24 and 36 months 15000 miles per year. Thanks in advance.
71%/64% residual for AWD (subtract 1% for FWD) .00120 MF, if you are in the NY region.
So I am new to this, but wondering why the discussion is more on residuals than the invoice/sales price? Arent they both important?
Also, how useful is Truecar in terms of negotiation? I see "Truecar Price Curve" and wondered how accurate it is and if it is helpfulin saying someone got XX price for the same XLE.
So I am new to this, but wondering why the discussion is more on residuals than the invoice/sales price? Arent they both important?
Also, how useful is Truecar in terms of negotiation? I see "Truecar Price Curve" and wondered how accurate it is and if it is helpfulin saying someone got XX price for the same XLE.
Can't help you with any of the pricing information from other websites.
Just got quoted .0028 MF on a Highlander LE Plus in Sacramento, CA. 65% residual 36 months & 12k. This seems very bad to me. Total lease was $549/month!
Just got quoted .0028 MF on a Highlander LE Plus in Sacramento, CA. 65% residual 36 months & 12k. This seems very bad to me. Total lease was $549/month!
Seems bad to me, too.
We usually see .00220 as the highest rate on a Highlander. Do you have top tier credit? Did they even run your credit?
Received a quote today from a SoCal Toyota Dealer on lease. Seems RIDICULOUS to me after some simple math and based on other scenarios I'm seeing here. Can anyone provide insight? 2017 Highlander Limited FWD Vehicle Price: $45,209 Selling price: $42,781 Fees: $479 (doc fee/filing fee/ registration/ tire fee) Taxes: $3,360 (we're around 7.75%) MF: .00320 (!) Excellent credit (I'm 800+) 36 mo/12K miles $28,030 Residual Scenarios with $7,000 down: $524/month, $8,000 down: $492/month, $9,000 down: $460/month
Mentions the national $500 rebate but don't see that factored anywhere. Notes on "1st payment, tax on down, license, title, fees dues at delivery" Any help appreciated!
Received a quote today from a SoCal Toyota Dealer on lease. Seems RIDICULOUS to me after some simple math and based on other scenarios I'm seeing here. Can anyone provide insight? 2017 Highlander Limited FWD Vehicle Price: $45,209 Selling price: $42,781 Fees: $479 (doc fee/filing fee/ registration/ tire fee) Taxes: $3,360 (we're around 7.75%) MF: .00320 (!) Excellent credit (I'm 800+) 36 mo/12K miles $28,030 Residual Scenarios with $7,000 down: $524/month, $8,000 down: $492/month, $9,000 down: $460/month
Mentions the national $500 rebate but don't see that factored anywhere. Notes on "1st payment, tax on down, license, title, fees dues at delivery" Any help appreciated!
The tax figure is irrelevant. CA taxes the monthly payment. Base MF should be .00220
Find another dealer. Don't even consider making a big downpayment on a lease.
@kyfdx Thank you for the response, figured as much. Can you elaborate on CA taxes monthly payment? So sales tax based on selling price is irrelevant? Essentially Im looking for a max $425/month payment won a $42K Highlander. SO what "net cap cost" is appropriate?
@kyfdx Thank you for the response, figured as much. Can you elaborate on CA taxes monthly payment? So sales tax based on selling price is irrelevant? Essentially Im looking for a max $425/month payment won a $42K Highlander. SO what "net cap cost" is appropriate?
After the lease payment is calculated, the sales tax is applied.
For example, if the pre-tax payment is $400, and the tax rate is 8%, the total lease payment is $432.
Using the MF of .00220, 36/12 residual of 62% and an MSRP of $42,000, the cap cost would have to be around $36,500 to get a payment of $425/mo after tax.
To anticipate your next question, we do not recommend putting money down on a lease to get to a certain payment - that money would be lost if the car is stolen or totaled, and it doesn't really change the total cost of the lease.
Given the high MF, you may want to think about a less expensive model, or a car with better numbers. Can I interest you in a Pathfinder? MF is .00039, though the residual is a bit lower, as well.
Thanks Michael for your helpful insight. Makes sense on loss of money if car is totaled/stolen. I'm also reconciling the math on advertised lease amounts for $70K plus cars (for example) with little to no down and payments in the $650-$800/month range and how this relates to lesser priced cars. Seems the important factors are knowing the MF, the residual and also a "true" value of the car in question-in some cases, taking whatever the actual transaction of the model per region and working out how that payment works out over a lease term, which essentially could be your "overpayment" vs an advertised price/monthly payment from a promo. Or, looking at money down as prepaying a monthly payment taken over a lease term? I'm trying to make sense on a "net cap cost" to get a desired payment but WITHOUT putting substantial money down. Seems $2,000-$3,000 would be an "accepted" amount on a $45K model, but perhaps not? We're still looking, Pathfinder could be a possibility. Much appreciated
Thanks Michael for your helpful insight. Makes sense on loss of money if car is totaled/stolen. I'm also reconciling the math on advertised lease amounts for $70K plus cars (for example) with little to no down and payments in the $650-$800/month range and how this relates to lesser priced cars. Seems the important factors are knowing the MF, the residual and also a "true" value of the car in question-in some cases, taking whatever the actual transaction of the model per region and working out how that payment works out over a lease term, which essentially could be your "overpayment" vs an advertised price/monthly payment from a promo. Or, looking at money down as prepaying a monthly payment taken over a lease term? I'm trying to make sense on a "net cap cost" to get a desired payment but WITHOUT putting substantial money down. Seems $2,000-$3,000 would be an "accepted" amount on a $45K model, but perhaps not? We're still looking, Pathfinder could be a possibility. Much appreciated
The three numbers the bank can fiddle with on a lease:
MF (lower is better) Residual (higher is better) Lease cash (any is better than none)
Then, find a vehicle that is not popular, where you can negotiate a big discount from sticker, before applying the incentive.
The problem is that everybody wants an SUV, and the manufacturers' know this.
Rather than looking for the best deal, might I suggest test driving the ones you are interested in, then looking at the lease numbers?
Nothing more aggravating than to score an amazing lease deal on a car you hate driving.
Odd, this part fell off". Kindly reveal #s for: Highlander XLE. 36 15000 in MIchigan, metro Detroit, 700+ (or better) and if this is today only or into May. Thanks in advance, also comparing to non hybrid, extra cost against economy, so posting there, too, for XLE FWD and AWD.
Comments
Which state?
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Looking for MFs and residuals on 12k mile, 36 month leases on both a FWD Limited and FWD Limited Platinum. In Texas. Thanks in advance!
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No lease cash
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.00120 MF, if you are in the NY region.
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Thanks!
Add 6% for 24 months
Subtract 1% if FWD
.00133 MF
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Also, how useful is Truecar in terms of negotiation? I see "Truecar Price Curve" and wondered how accurate it is and if it is helpfulin saying someone got XX price for the same XLE.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
.00220 MF and 66% residual
$500 lease cash
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If not, what is it just outside of the Seattle area (Tacoma or Bellingham)?
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We usually see .00220 as the highest rate on a Highlander. Do you have top tier credit? Did they even run your credit?
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2017 Highlander Limited FWD
Vehicle Price: $45,209
Selling price: $42,781
Fees: $479 (doc fee/filing fee/ registration/ tire fee)
Taxes: $3,360 (we're around 7.75%)
MF: .00320 (!)
Excellent credit (I'm 800+)
36 mo/12K miles
$28,030 Residual
Scenarios with $7,000 down: $524/month, $8,000 down: $492/month, $9,000 down: $460/month
Mentions the national $500 rebate but don't see that factored anywhere. Notes on "1st payment, tax on down, license, title, fees dues at delivery"
Any help appreciated!
Base MF should be .00220
Find another dealer. Don't even consider making a big downpayment on a lease.
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Essentially Im looking for a max $425/month payment won a $42K Highlander. SO what "net cap cost" is appropriate?
For example, if the pre-tax payment is $400, and the tax rate is 8%, the total lease payment is $432.
Using the MF of .00220, 36/12 residual of 62% and an MSRP of $42,000, the cap cost would have to be around $36,500 to get a payment of $425/mo after tax.
To anticipate your next question, we do not recommend putting money down on a lease to get to a certain payment - that money would be lost if the car is stolen or totaled, and it doesn't really change the total cost of the lease.
Given the high MF, you may want to think about a less expensive model, or a car with better numbers. Can I interest you in a Pathfinder? MF is .00039, though the residual is a bit lower, as well.
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Or, looking at money down as prepaying a monthly payment taken over a lease term? I'm trying to make sense on a "net cap cost" to get a desired payment but WITHOUT putting substantial money down. Seems $2,000-$3,000 would be an "accepted" amount on a $45K model, but perhaps not?
We're still looking, Pathfinder could be a possibility.
Much appreciated
MF (lower is better)
Residual (higher is better)
Lease cash (any is better than none)
Then, find a vehicle that is not popular, where you can negotiate a big discount from sticker, before applying the incentive.
The problem is that everybody wants an SUV, and the manufacturers' know this.
Rather than looking for the best deal, might I suggest test driving the ones you are interested in, then looking at the lease numbers?
Nothing more aggravating than to score an amazing lease deal on a car you hate driving.
Edmunds Price Checker
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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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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
.00133 MF
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