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Toyota Highlander, Car Leasing, SUV
#400 of 702 Leases Offered for 2009 Highlander Limited
Aug 22, 2009 (3:13 pm)
I just ended a painful session attempting to lease this car in Plano, TX. This Limited came with the extra value package #8, car mats, body side moulding, vehicle shield package and a destination charge of $855. MSRP - $38,028. Edmunds shows invoice amount for this car with $800 destination charge as $33,918 ($29,762 + 2,952 + 180 + 125 + 99 + 800). I offered $34,250 and they countered with (purchase price negotiations started after lease negotiations) $36,950. I shared all my Internet-obtained information with the sales manager and increased my offer to $34,800, and he countered with a best and last offer of $$36,900. The best offers I could get for a lease were the following based, according to the sales manager, on a residual of $13,417 and money factor of 0.00285 (6.84%): 48 months - 598/month, 12K miles, 2,500 "down pymt" plus pre-pmt of last month's rent and pmt of license and registration fees; 60 months - 560/month, 12K miles, 2,500 "down payment" plus pre-pmt of last month's rent and pmt of license and reg fees). Using the sales manager's residual and money factor amounts, I calculated and offered to lease this car as follows:
33,070 - 13,417 = 19,653 divided by 48 = $409.44
33,070 + 13,417 = 46,487 times 0.00285 = $132.49
409.44 + 132.49 = 541.93 times 6.25% (sales tax in TX) = $33.87
Monthly pmt = $575.80, no "down payment" but pre-pmt of first month's rent and pmt of license and reg fees with 12K miles
I also offered $542 per month for 36 month lease with same terms as above but using residual of 47% and money factor of .0001 calculated as follows:
33,070 - 15,542 + 17,527 divided by 36 = $486.86
33,070 + 15,542 = 46,487 times 0.0001 = $4.86
486.86 + 4.86 = 491.72 times 6.25% = $30.73
Excuse for the foregoing terms ran the gamut for low inventory due to cash for clunkers, Toyota going low with residual amounts given the economy and prior experience with cars coming back off of lease, and a desire to make "just a little bit of profit".
Was my experience atypical of what others are experiencing or have experienced? Also, were my offers out of line and/or unrealistic? Any guidance will be much appreciated.
#401 of 702 Current N.E. Region Lease Rates
Sep 12, 2009 (8:42 am)
Can anyone confirm the current '09 Highlander lease available in NY please? I believe it is .00001 money factor w/ 47% residual for 36 months 12k or 15k miles. Thanks.
#402 of 702 4WD Highlander Sport & Limited Lease Numbers
Sep 16, 2009 (3:47 pm)
What are the 24 and 36 month lease numbers on a Highlander Sport and Limited models with 4WD. I'll need 15000 miles a year on the lease.
#403 of 702 Re: 4WD Highlander Sport & Limited Lease Numbers [dolphin5]
Oct 27, 2009 (8:43 am)
I'd like this information as well, if available.
#404 of 702 killer residuals
Nov 01, 2009 (7:33 am)
I've leased my share of cars and have never seen such a low residual. It is too low to make a reasonable deal. May be better to get a good internet price, take the 2.9% financing and just buy the thing. The Venza with a residual of over 60% and a .00265 money facor is a much better deal now.
#405 of 702 Highlander Sport Lease - Please help
Nov 01, 2009 (4:36 pm)
I live in Southern California and am negotiating with a few dealerships on a 2010 Highlander Sport w/ Navigation and Leather, 36 months 15k miles/year.
The MSRP for the particular model is $36,689, one dealer quoted my price $34,290. Current Money Factor here is .002% & the residual for this model is $18,828.00 (51%). Payment is $572.75/mo (incl. 8.75% tax) with zero ($0) down and $1,151.00 drive off (1st mo. / tax / tags).
My question is: Do you think the dealer can get any more aggressive than $34,290? or is this as good as it's going to get? and, the drive-off $1,151 seems high, what are your thoughts?
Thanks for your help!
#406 of 702 Re: 4WD Highlander Sport & Limited Lease Numbers [benneyb]
Nov 03, 2009 (3:19 am)
Hi benneyb. Toyota's lease program varies depending upon which one of its myriad of regions you are in. It would be easier for me to give you an idea of what this truck's current money factor is like if I knew what state you are in.
Toyota Financial Services' residual values are national (other than the Southeast) so I can give you an idea of what those are like. Toyota Financial Services' current residual value for a 36 month lease of a 2010 Highlander Sport or Limited 4WD with 15,000 miles per year is 57%.
The problem is that Toyota's published residual values are for base vehicles. It places restrictions upon what options can be residualized that make it difficult to calculate the actual dollar residual values for specific units, so much so that it provides dealers with a list of the actual dollar residuals for the units that they have in stock.
Prices Paid: Buying & Leasing Experiences Forum
#407 of 702 Re: 4WD Highlander Sport & Limited Lease Numbers [Car_man]
Nov 03, 2009 (8:02 am)
Hi Car Man,
Do you have the updated residual values and money factors for 2010 Toyota Highlander Sport? Also, I'm not sure if you could lend your opinion on post #405, but I'm hoping that I'm getting a fair deal from the dealerships.
Thanks for your time.
#408 of 702 Re: 4WD Highlander Sport & Limited Lease Numbers [emitch13]
Nov 25, 2009 (2:41 am)
Hi emitch13. While Toyota Financial Services' residual values are national, its lease money factors vary depending upon which one of its twelve regions one is in. Toyota's special money factors for the '10 Highlander Sport are currently anywhere from .00060 to .00175. If you let me know what state you are in I should be able to tell you what this truck's exact money factor is like in your area.
TFS' current 36-month, 15,000 mile per year residual value for the 2010 Highlander Sport 4WD is 57%. The problem with using this percentage is that it is for this truck's base MSRP. TFS places restrictions upon what options can be residualized making it difficult for consumers to calculate accurate lease payments on their own.
Prices Paid: Buying & Leasing Experiences Forum
#409 of 702 Best place to buy a 2010 Highlander Limited or Sport
Nov 25, 2009 (10:32 am)
I'm trying to identify whether I would get a better deal on lease terms, conditions, rebates and financing in WA/OR or IL. We are relocating to the Chicago area and currently have houses in both locations. Since the money factors are based on regions I was hoping someone could tell me which area has better deals right now. I'm looking at the 2010 Highlander Limited or the 2010 Highlander Sport with Limited-like options added on.