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Toyota Highlander Lease Questions

662 messages,  Last post on May 07, 2013 at 5:43 AM

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

Messages Page 60 of 67

#591 of 662 Re: Current Lease Incentives in NY? [orangeman99] by Car_man HOST

Jan 16, 2012 (4:42 pm)

Replying to: orangeman99 (Jan 08, 2012 3:03 pm)
Hi orangeman99. Toyota Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2012 Highlander 4WD with 15,000 miles per year in its New York region are .00065 and 60%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.
 
The problem with these numbers is that unlike most banks, TFS places restrictions upon which options can be residualized. This makes its published residual values look artificially high and it makes it difficult for consumers to work up payments on their own.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#592 of 662 Re: Current Lease Incentives in NY? [Car_man] by orangeman99

Jan 16, 2012 (5:29 pm)

Replying to: Car_man (Jan 16, 2012 4:42 pm)
Thanks for the info Car man.
 
I think that's why the residuals they are giving me sre different. Maybe the rates they are quoting are correct.
 
BTW- what are the numbers for a 12,000 miles/yr lease?
 
Thanks again.

#593 of 662 Re: Current Lease Incentives in NY? [orangeman99] by kyfdx HOST

Jan 16, 2012 (8:09 pm)

Replying to: orangeman99 (Jan 16, 2012 5:29 pm)
12K residuals are almost always 2% higher than 15K

#594 of 662 2012 Toyota Highlander 4WD V6 SE Residual Value by momoffour177

Jan 18, 2012 (8:31 am)

Hi,
 
I would like the same information for the Seattle, WA area. I am interested in the residual value for the 2012 Highlander 4WD V6 SE. On $39471, my dealer quoted me a residual of $20,055 with $3,000 down payment. At 51%, that's low compared to what others say they are getting?

#595 of 662 Re: 2012 Toyota Highlander 4WD V6 SE Residual Value [momoffour177] by orangeman99

Jan 18, 2012 (2:18 pm)

Replying to: momoffour177 (Jan 18, 2012 8:31 am)
51% seems way low. The difference between 51% and lets says 60% residual on your car is about 3500. Divide that by 36 and that's about a $100/month higher lease payment.
 
I'm sure Car Man will give you accurate numbers soon.

#596 of 662 How do you know if the residual the dealer gives you is correct? by orangeman99

Jan 21, 2012 (3:19 pm)

Car Man,
In light of what you said earlier about some options not being residualized, how do you know if the residual the dealer is giving you is correct?
 
The Highlander that I'm looking at has an MSRP of about $39,300, and they are telling me that the residual is 22,800. That's about 58%. I'm looking for a 36mo/12k lease, so it should be around 62%. That difference wil mean an extra $40/month.
 
How do I know if they are correct?
 
THANKS

#597 of 662 Re: Current Lease Incentives in NY? [orangeman99] by Car_man HOST

Jan 22, 2012 (11:49 am)

Replying to: orangeman99 (Jan 16, 2012 5:29 pm)
You're very welcome orangeman99. As kyfdx already mentioned, the money factor is the same for a lease with only 12,000 miles per year, but the residual value gets a 2% bump.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#598 of 662 Re: 2012 Toyota Highlander 4WD V6 SE Residual Value [momoffour177] by Car_man HOST

Jan 22, 2012 (11:54 am)

Replying to: momoffour177 (Jan 18, 2012 8:31 am)
Hi momoffour177. In most of the regions that I have seen Toyota's special lease money factor for the 2012 Highlander in, it was .00065 for consumers who qualify for its top aka "Tier 1+" credit tier.
 
As orange mentioned, the residual value for a 36-month, 15,000 mile per year lease of a 2012 Highlander 4WD is 60%...however TFS calculates residual values are different than most other banks. The percentages that it publishes are for base vehicles. It places restrictions upon what options can be residualized. As a result, its functional residual values are actually lower than its published percentages appear. I wouldn't be surprised if the residual value restrictions for options on a truck like the Highlander knocked several points off of the vehicle's effective residual value...perhaps even as much as you are experiencing. Dealers really don't have the ability to alter vehicles' residuals, so what you were quoted is probably correct. The process of calculating vehicles' residual values for leases through TFS is so complicated that it provides dealers with a list of the actual dollar residual values for every unit that they have in stock rather than relying upon them to calculate them on their own.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#599 of 662 Re: How do you know if the residual the dealer gives you is correct? [orangeman99] by Car_man HOST

Jan 22, 2012 (11:59 am)

Replying to: orangeman99 (Jan 21, 2012 3:19 pm)
That's an excellent question, orange.
 
Unlike with money factors which can sometimes be marked-up to add additional hidden, back-end profit to leases dealers don't usually have the ability to alter vehicles' residuals, nor any incentive to do so. So what you are quoted for a residual value on this truck is probably correct.
 
The process of calculating vehicles' residual values for leases through TFS is so complicated that it actually provides dealers with a list of the dollar residual values for every unit that they have in stock rather than relying upon them to calculate them on their own.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#600 of 662 Re: How do you know if the residual the dealer gives you is correct? [Car_man] by orangeman99

Jan 23, 2012 (9:38 am)

Replying to: Car_man (Jan 22, 2012 11:59 am)
Good info. Thanks Car man, I really appreciate the time you take to help us.

Messages Page 60 of 67

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