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Prices Paid: Buying & Leasing Experiences Toyota Highlander Lease Questions
409 messages, Last post on Nov 25, 2009 at 10:32 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I'm trying to get out of my lease on a 2006 Highlander Hybrid Limited AWD because I need to lower my monthly car payment. My payoff is about 3k more than the TMV, and I have around 14 months left on the lease. I tried the method listed in this article -> http://www.edmunds.com/advice/leasing/articles/45858/article.html, under section #2."How do I buy my car at the end of the lease?" It suggested calling my leasing company and negotiating a payoff price different from the listed payoff because it's to the leasing company's benefit for me to buy it so they don't get killed at auction if I turn it in. That didn't work, they said payoff is non-negotiable. My monthly payment is pretty high (because I was stupid, and upside down in my trade-in) so I'm not sure whether listing on LeaseTrader or Swapalease will do any good. Is my best option just trying to get the best trade-in price possible?
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Replying to: smcconnell71 (Feb 24, 2009 2:06 pm) It appears the car may be worth a lot less than TMV at the end of the lease and if so you may be better off eating the payment for a year than taking the $3K loss. If I absolutely needed to lower monthly cost and if the car is OK I would rather buy the car and finance it for a longer period of time rather than lose $3K up front. I assume if you have $3K in your pocket that the extra $$$'s mo for 14 months shouldn't make that much difference. |
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Replying to: smcconnell71 (Feb 24, 2009 2:06 pm) Just a word of fatherly advise. Don't make the same mistake twice, which is where you're heading on this. |
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CarMan, Can you advise what the MF and Resid is on the Limited for 36 months, 12k and 15k per year? Did these rates get better than previous months. I can't imagine lease rates getting any worse than they have been for the Highlander.
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Replying to: AXM23 (Feb 13, 2009 3:12 pm) Toyota's March lease program for the Highlander is definitely more attractive than its February program was, but it would be very difficult to predict where it will head from here. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: AXM23 (Mar 05, 2009 5:27 am) Keep in mind though that the residual value percentages that TFS publishes are for base MSRPs. It places restrictions upon what options can be residualized. Doing so makes vehicles' effective residuals lower than its published numbers, not to mention difficult to calculate. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Mar 20, 2009 2:50 am) I'm new here, first post. My 2006 Rav4 Sport lease is ending in 3 months. The dealer I leased at has already called me to come in and look at new cars. Am I going to get a better deal for being a repeat customer? I'm in NYC. I'm looking at Highlander 4x4 (either base or Sport). I trying to get a ballpark figure of a lease payment for a 36/10 or 36/12, with no money down. I'm looking at ones with MSRP around $30-32k. I have excellent credit. What are the MF and residual? Can those be negotiated or are they given by the dealer? Is the Highlander really popular in this area? Are dealers willing to negotiate much? I can't find this info.  Thanks for your help.
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Replying to: Car_man (Aug 31, 2005 4:24 pm) 2009 Base Highlander (v6 fwd) cold weather package blu logic extra value package daytime running lights dealer installed dvd player 36 month lease with $1500 down $452 month (including tax). residual value $13,874. Negotiated price $27,956 Appreciate any thoughts you might have! Thanks! |
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Just to throw more fuel on the fire.......... A week ago, I asked a dealer in Central Ohio for lease quotes on both the Highlander and the RAV4, 3 yrs, zero down, 12k miles. The payments were about what everybody here has experienced. What shocked me were the residuals: Highlander, MSRP $37,600., residual $17,515. RAV4, MSRP $30,255., residual $17,815. I guess that tells you something about the leasing company's expectations for larger SUVs.
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