You are here: Forums Prices Paid: Buying & Leasing Experiences Toyota Highlander Lease Questions

Toyota Highlander Lease Questions

410 messages,  Last post on Dec 02, 2009 at 12:30 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Toyota Highlander, Car Leasing, SUV

Messages Page 4 of 41 1 2 3 4 5 6 7 ... 41 Prev Next Last

Go To Msg # Search This Discussion

#31 of 410 Need advice before proceeding w/lease by znelson32 Mar 14, 2006 (7:52 pm)
I negotiated the following deal today:   2006 Highlander Limited (6938) V6 AWD w/3rd Row Exterior: Black Interior: Ivory Leather Options: Leather Seat Package (LA)          Side Curtain Airbags (GY)          Extra Value Package (VV)          Heated Seats (HD)   $31,689 + T/T = $33,721 OTD   I feel this is a good deal considering the MSRP is $35,675 so it's a $4,000 savings. Now the dealer is trying to recoup some of that cash by offering the following on the lease deal:   $1,500 down: $447/month $3,000 down: $399/month   These quoted rates are direct from the toyota.com calculator because when I plug in the cap cost of $31,689 I get the same monthly rates. Now here is what concerns me:   The advertised lease specials are:   Base model with an MSRP of $25K for $259/month w/approx. $2000 cap cost reduction   Hybrid model with an MSRP of $33K for $369/month w/approx. $1000 cap cost reduction   Since my cap cost is $31K shouldn't my monthly payment be more like $329 and not $447? The dealer says this is based on a money factor of .00170 and didn't mention the residual value.   I find it hard to believe a 4x4 AWD Limited that costs $1000 less than the hybrid would cost $80 more per month to lease. I understand perhaps the hybrid has a higher residual value but it's $1K more and a Limited wouldn't be worth significantly less.   What's also troubling is that I was trying to replicate the advertised lease specials with the toyota.com calculator but the monthly payments are much higher than the advertised rates, which means it's not applying the special money factor. Since my dealer is using the same calculator, he must not be applying the special financing to my deal.   Furthermore, when I inquired about this I was told that the $259 lease special is based on model 6910 which is the base 4x2 model, even though the toyota site clearly says it's based on the 4x4 base model 6928. The dealer was trying to justify the lower payment by using a model with a lower MSRP, which I don't buy into. When I told him this was wrong he said "we'll there's alot of complex factors that make one lease different than another". True but I doubt 6928 on toyota.com is a typo.   To complicate all this, you can't replicate the advertised toyota.com lease specials because they don't disclose the money factor or residual values used. I called toyota financial and talked to someone in the lease dept. and even he said only the regional financing departments have any kind of info like that. So there is no way I can be sure that my dealer is applying the correct money factor and residual value to my lease and not trying to pad the deal.   I should note, this is in the Philadelphia market. The dealer's zipcode is: 17112   Please advise! Thanks in advance! Replies to this message: golic (Mar 14, 2006 9:05 pm) su80 (Apr 16, 2006 6:32 am) kyfdx (Apr 16, 2006 5:44 pm)
#32 of 410 Re: Need advice before proceeding w/lease [znelson32] by golic Mar 14, 2006 (9:05 pm)
Replying to: znelson32 (Mar 14, 2006 7:52 pm) The residual value and the money factor or not some "grand" secret. Your dealer has these values and they are required to disclose to you.   If they will not disclose this to you, then I would suggest you look for another dealer.   I have put together an excel spreadsheet to calculate lease payments. If you email me and tell my how sales tax is charged on a lease in PA, I will send the spreadsheet for you to check.   I have found, that unless you ASK for the current special lease money factor they will try to unload a much higher money factor on you.   Also, shoot an email to Car_man he is often able to get current residuals and money factors for vehicles.   Good luck. Replies to this message: su80 (Apr 16, 2006 6:32 am) kyfdx (Apr 16, 2006 5:44 pm)
#33 of 410 Dealer Holdback by getbizzy Mar 19, 2006 (9:43 am)
CarMan or anyone:   I got a deal pending on a Highlander LMT with airbag, leather/heated, Nav, tow, extra value package for $ 32,434. Is this a good deal? Also, what are these additional charges TDA ($ 716) Dealer Holdback ($ 637) and Whsl Financial reserve ($ 318)?
#34 of 410 Re: Lease questions: [jericho88] by Car_man HOST Mar 24, 2006 (3:12 am)
Replying to: jericho88 (Mar 07, 2006 12:46 pm) Hi Chuck. The lease calculator that is available here at Edmunds.com and the formula that is outlined in the following article, Calculate Your Own Lease Payment, are very accurate. The problem is that Toyota Financial Services calculates leases differently than all of the other banks that lease vehicles. Most manufacturers' residual values represent a percentage of vehicles' full MSRPs, including the MSRPs of any factory installed options. TFS on the other hand places a limit on which options can be residualized and puts caps on the amount of money that can be residualized. As a result, its lease payments are often more expensive than the ones that normal lease calculators come up with.   Toyota is not currently providing any sort of lease support on the 2006 Tacoma. As a result, if you were to lease one through TFS, you would have to use its standard lease program. The last time that I saw it, TFS' buy rate standard lease money factor for consumers who qualify for its Tier 1+ credit tier was .00265. This truck's residual value will vary depending upon how long you lease it for and how many miles per year you are allowed to drive it. If you were to do a typical 36 month, 15,000 mile per year lease on an '06 Tacoma Access Cab 4WD through TFS right now, its residual value would be 65%.   Car_man Host Smart Shopper / Prices Paid Forums Replies to this message: otis1 (Apr 26, 2006 6:26 pm)
#35 of 410 Re: Lease questions: [golic] by Car_man HOST Mar 24, 2006 (5:10 am)
Replying to: golic (Mar 07, 2006 1:45 pm) Golic is absolutely right, Chuck. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Highlander would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. You can still trade in your current vehicle when leasing your Highlander if you wan, just have the dealer cut you a check for all of it instead of using part of the proceeds as a capitalized cost reduction.   Car_man Host Smart Shopper / Prices Paid Forums Replies to this message: rmlinn (Apr 26, 2006 5:50 pm)
#36 of 410 2006 Highlander Hybrid Lease by jsmith105 Apr 03, 2006 (2:52 pm)
Hi! I was quoted $31,611 (MSRP $33,680) on a base model 2WD 2006 Highlander Hybrid. If I don't pay any money down, what would be my estimated monthly payment for a 36 month lease? Any help is appreciated! Thanks! J. Smith
#37 of 410 Toyota Highlander Lease Question by cartime1 Apr 15, 2006 (11:04 am)
Greetings I want to lease a Highlander with a 3rd row with LA- Leather Seat Package GY- Side Curtain Airbags TO- Towing Prep Package   I want to know what invoice price I should be negotiating. Can you also walk me thru the lease calculations factoring in the special lease rate? What is the money factor and residual value for this model? I live in MA. Thank you from a lease-challenged mother!
#39 of 410 Re: Need advice before proceeding w/lease [golic] by su80 Apr 16, 2006 (6:32 am)
Replying to: golic (Mar 14, 2006 9:05 pm) Pls forward your spreadsheet for calculating lease price. My sales tax is 8% and must be paid up front (NY). Thanks Replies to this message: kyfdx (Apr 16, 2006 5:44 pm)
#40 of 410 lease termination by sap1 Apr 16, 2006 (9:50 am)
Is it possible to have a your lease assumed or bought out buy another party with out major penalties? I am currently leasing a Highlander thru toyota financial services.

Messages Page 4 of 41 1 2 3 4 5 6 7 ... 41 Prev Next Last

Go To Msg # Search This Discussion

You are here: Forums Prices Paid: Buying & Leasing Experiences Toyota Highlander Lease Questions