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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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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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Replying to: iamknott (Apr 01, 2009 7:00 pm) The one nice thing about a realistic residual is that if per chance you fall in love with your car and want to buy it out at lease-end, chances are that on a Toyota, the residual will be pretty close to what the market's fetching. Like Car_Man has said numerous times, Toyota sets a residual for each individual vehicle and not just one percentage straight across the line. People often think that by adding equipment like NAV and rear dvd systems etc. will increase the resid, when in fact, it usually lowers it.
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Replying to: orangeman99 (Mar 28, 2009 7:18 am) Toyota Financial Services' new New York region buy rate lease money factor for the 2009 Highlander is a very attractive .00028 for consumers who qualify for its top aka "Tier 1+" credit tier. This is the lowest money factor that the dealer is allowed to charge you. Highlanders are popular vehicles, but dealer grosses on them are low...particularly in the retail environment that we find ourselves in today. If I was in the market for an '09 Highlander right now, I personally would shoot for a selling price of slightly over dealer invoice. You should be able to get pricing feedback from other consumers who are in the market for similar vehicles by visiting the "Toyota Highlander Prices Paid and Buying Experience" discussion. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: ocautoseeker (Apr 02, 2009 2:51 am)
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Replying to: iamknott (Apr 02, 2009 9:09 am) Extra bells and whistles are always nice, but when it comes time for a dealer to try and pick that vehicle up from an auction (where it usually goes after your lease), many times, those "amenities" don't add squat to the value of the car, and the dealers/wholesalers looking to buy know that. Most people that buy used want a clean car that has a solid engine and tranny, and has convenient features like a/c power windows and locks etc, but the rear seat entertainment systems, nav, and other "overpriced" features when new just don't hold up well in the resale market - thus the dip in residual. Especially when you can by a Garmin or Tom Tom for $150 and move it between vehicles, as opposed to the $2000 factory nav. |
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Car_man: I am looking to lease a Highlander Limited with bells and whistles. My final price quoted here was $35.8K but for the 12K 36 month lease, the money factor used was very high, 0.0295, and the residual was very low at 42%, resulting in a lease payment of $717 with just first month's payment down. From your March post, the money factor and residual appear to have been are .00099 and 47%, which are very good. What can I do to negotiate better lease terms? Thanks very much for your help.
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Hi Car Man and others). Really appreciate the help you give on this forum. We're older folk in Northern Calif. We're looking at purchasing a Highlander Limited w/no navi or DVD. Negotiated good offer of $350 below invoice. The vehicle is perfect for us in terms of options, color, etc.--in that sense our dream vehicle! We have excellent credit and and could buy outright. BUT: we've never owned an SUV, and the ride in the rear seat(s) seems a lot harsher than we're used to in our 2000 Sienna XLE. Making me nervous about plunking down $$36000 (out the door price) when we're not sure how satisfied we'll be with it. SO: does a short lease make any sense? We would probably buy it off of lease (or during lease if that's possible?) if we like the vehicle as much as we hope. Perhaps it would make more financial sense to buy it and then sell in a year or so if for some reason we didn't want to keep it? Thanks for the help. We have to make a decision within 48 hours--it's hard to find a Limited like this without tons of expensive bells and whistles we don't need.
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Replying to: rollingwoods (Apr 05, 2009 8:05 am)
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Replying to: wvgasguy (Apr 10, 2009 5:30 pm)
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