Last post on Oct 21, 2013 at 2:09 PM
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Toyota Highlander, Car Leasing, SUV
#173 of 702 Taking over a 2007 Highlander Hybrid lease
Dec 02, 2007 (5:47 am)
I'm considering taking over the lease described below. The car has 27k miles. Can you help me figure out if this is a good deal? If not, what would that $2000 number have to be to make it good? Am I better off just buying it outright at $31.5k? Features: A/C: Front, Navigation System, Power Locks, Power Steering, Remote Keyless Entry, Leather Interior, Power Seats, Alarm, CD Changer, CD Player, Power Windows, Rear Window Defroster, Rear Window Wiper, Tinted Glass, Alloy Wheels, Sunroof/Moonroof, Third Row Seats
Selling Points: Limited edition loaded with NICE interior - GPS Navigation system - Heated leather seats - nice dash - moon roof -comfortable drive Hybrid engine - big hatch fits/carries oversized load, etc. third row rumble seat car Car currently under Toyota lease - will sell outright or transfer lease at payment of $550 per month (includes maintenance contract) and runs through May 2009 w/ buyout at $23,581 - we will pay $2,000 to buyer on lease transfer option - lease would transfer through Toyota directly - all warrantees transfer, etc. Warranty: Comes with 3yr, 36K mile warranty on all; 5yr, 60K mile for motor & transmission; 8yr & 100K mile for hybrid parts - buyer has option to upgrade warranty through dealer This car was one of 2 exact same leased for business - our partner must relocate off mainland US & couldn't take car - we LOVE this model and keeping the other
Condition: This is a limited edition so loaded with NICE interior - GPS Navigation system - Heated leather seats - nice dash - moon roof -comfortable drive Hybrid engine - big hatch fits/carries oversized load, etc. third row rumble seat car
#174 of 702 Re: Taking over a 2007 Highlander Hybrid lease [green_power]
Dec 02, 2007 (6:03 pm)
I won't speak for the $31.5k price, but will speak towards the lease assuming that is a fair value (although, a one year old car with 27,000 miles should give you pause. You are 9k miles away from the full warranty expiring. Also, make sure you aren't paying for any miles over 36k or 45k with the lease).
I wouldn't do the lease on those terms. Essentially, it is an 18 month lease. 75% residual value. $2,000 up front payment. Assuming, taxes are all rolled in or zero, the interest rate in that lease is 10%.
Not sure what your credit is, but Toyota has been using roughly a 6.22% interest rate for leases for top tier credit on new vehicles. If you want to treat this like a new car lease and use that rate, the amount you should pay up front would be about $550 in order for the monthly lease payments of $550 per month to make sense. Of course, interest rates for used cars are typically higher than new cars, so you should factor that in.
#175 of 702 New Jersey Lease
Dec 04, 2007 (9:01 am)
Looking to lease a Highlander Sport in NJ.
Can you tell the money factor and residual for a 36- 39 month with 15k
#176 of 702 Florida Lease numbers
Dec 07, 2007 (1:15 pm)
I would appreciate the residual value and money factor for a Base highlander for 24 and 36 months and 12,000 miles per year.
#177 of 702 2008 Toyota Highlander Lease
Dec 13, 2007 (6:57 am)
I am in the process of leasing, from Gulf States Toyota, a 2008 Highlander LTD 2WD. Options are JBL with bluetooth, running boards and side moldings. Nothing else. This is an H-Plan deal with the following stats:
Gross Cap Cost: 35,500
Adj Capt Cost: 37,900
Money Factor: .00200
Annual Mileage: 18,000
Length of Lease: 36 mos
As "Howie" says, Deal or No Deal??
#178 of 702 Re: 2008 Toyota Highlander Lease [houston_man]
Dec 17, 2007 (9:07 am)
Anybody able to answer Post #177?
#179 of 702 Re: 2008 Toyota Highlander Lease [houston_man]
Dec 17, 2007 (9:15 am)
Hard to tell without the MSRP. What is it?
On the surface, the money factor (comes out to a rate of 4.8%, which is what Toyota Financial is offering on loans to tier 1 credit) and residual values look pretty good. But, $35,500 seems a tad rich for a Ltd 2x4 with a couple options (although, I may be wrong here. What is invoice price on this vehicle?).
Anyhow, here is a calculator you may want to play around with:
Dec 17, 2007 (12:09 pm)
MSRP is $38,650.
#181 of 702 Re: Ref: Post #179 [houston_man]
Dec 17, 2007 (1:21 pm)
How do you get to an MSRP of $38,650 for a Ltd 2x4 with running boards, side moldings, and JBL w/ bluetooth as the only options? MSRP should be about $35k for that.
Dec 17, 2007 (2:43 pm)
Add Pwr Rear Door, CFC free rear auto digital climate control, floor mats. Apologies, I did not put this in the original posting.