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Toyota Highlander: Lease Questions

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

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

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#338 of 410 Re: Highlander Ltd Lease Offers [AXM23] by Car_man HOST Feb 13, 2009 (2:50 am)
Replying to: AXM23 (Feb 04, 2009 2:38 pm) Ah ha, I should have scrolled ahead. I see, AXM23, that you are in Toyota's New York region. Toyota is not providing lease support on the 2008 or 2009 Highlander in that area right now. As I mentioned, that means that if you want to lease one through Toyota Financial Services, you will have to use its standard lease program. TFS' current buy rate standard lease money factor is .00295 for consumers who qualify for its Tier 1+ credit tier.   TFS' current published residual value percentage for a 36 month lease of an '08 Highlander Limited 2WD with 12,000 miles per year is 45%. In reality though, it is actually worse than that because TFS places restrictions upon which options can be residualized.   I was actually in the market for a new SUV myself last month. I was planning on giving the Highlander serious consideration. Toyota's lease program has traditionally been very attractive on it. Alas, its current program is not nearly attractive enough and I took my business elsewhere.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: AXM23 (Feb 13, 2009 3:12 pm) Car_man (Mar 20, 2009 2:46 am)
#339 of 410 Re: Highlander Ltd Lease Offers [Car_man] by AXM23 Feb 13, 2009 (3:12 pm)
Replying to: Car_man (Feb 13, 2009 2:50 am) Lol. Thanks for the chuckle Car Man. Yes, unfortunatley I am in a region where there is no lease programs on the Highlander. Their lease program is atrocious. I am also considering going elsewhere. The Pilot is in high contention.   The problem is - I started researching rates at the end of December when every company had excellent programs. I was too new to jump on the first few deals I saw so I waited. After Jan. 5th, I kicked myself in the rear for not pulling the trigger on several deals.   Any historical data you can share from previous years that would indicate better programs in March? Replies to this message: Car_man (Mar 20, 2009 2:46 am)
#340 of 410 Trying to get out of lease on 06 Highlander Hybrid Limited AWD by smcconnell71 Feb 24, 2009 (2:06 pm)
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? Replies to this message: wvgasguy (Feb 27, 2009 9:43 am) wvgasguy (Feb 27, 2009 9:48 am)
#341 of 410 Re: Trying to get out of lease on 06 Highlander Hybrid Limited AWD [smcconnell71] by wvgasguy Feb 27, 2009 (9:43 am)
Replying to: smcconnell71 (Feb 24, 2009 2:06 pm) Just a thought but if you're already $3K more than TMV how would you expect to obtain another vehicle with significantly lower payments. You'll have to eat at least $3K. 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.
#342 of 410 Re: Trying to get out of lease on 06 Highlander Hybrid Limited AWD [smcconnell71] by wvgasguy Feb 27, 2009 (9:48 am)
Replying to: smcconnell71 (Feb 24, 2009 2:06 pm) My monthly payment is pretty high (because I was stupid, and upside down in my trade-in)   Just a word of fatherly advise. Don't make the same mistake twice, which is where you're heading on this.
#343 of 410 March Numbers on Limited by AXM23 Mar 05, 2009 (5:27 am)
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. Replies to this message: Car_man (Mar 20, 2009 2:50 am) orangeman99 (Mar 28, 2009 7:18 am) Car_man (Apr 02, 2009 3:08 am)
#345 of 410 Re: Highlander Ltd Lease Offers [AXM23] by Car_man HOST Mar 20, 2009 (2:46 am)
Replying to: AXM23 (Feb 13, 2009 3:12 pm) No problem, AXM23. Unfortunately, I believe that looking at the historical patterns of lease programs probably won't help much in the current environment. Companies are pulling the plug on lease support left and right because they are getting killed by the residual values that they overestimated years ago. Major recessions are like Chuck Norris to the value of used vehicles. They have fallen off of a cliff lately and many banks have taken a bath.   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
#346 of 410 Re: March Numbers on Limited [AXM23] by Car_man HOST Mar 20, 2009 (2:50 am)
Replying to: AXM23 (Mar 05, 2009 5:27 am) Hey AXM23. I did it again. According to the latest information that I have seen (this may vary some by region), Toyota Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Toyota Highlander Limited 4WD with 15,000 miles per year are .00099 and 47%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.   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 Replies to this message: orangeman99 (Mar 28, 2009 7:18 am) Car_man (Apr 02, 2009 3:08 am)
#347 of 410 Re: March Numbers on Limited [Car_man] by orangeman99 Mar 28, 2009 (7:18 am)
Replying to: Car_man (Mar 20, 2009 2:50 am) Hi, 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. Replies to this message: Car_man (Apr 02, 2009 3:08 am)

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