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SUVs Toyota Highlander Toyota Highlander: Lease Questions
410 messages, Last post on Dec 02, 2009 at 12:30 PM
You are in the Toyota Highlander Forum. Your Hosts are steve_ & tidester
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Replying to: Car_man (Aug 13, 2009 2:51 am) thanks! |
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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. |
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| 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. | |
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Car_man, 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. Thank you
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Replying to: dolphin5 (Sep 16, 2009 3:47 pm) I'd like this information as well, if available.
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| 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. | |
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! |
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Replying to: benneyb (Oct 27, 2009 8:43 am) 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. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Nov 03, 2009 3:19 am) 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. 
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Replying to: emitch13 (Nov 03, 2009 8:02 am) 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. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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